Topic: Buy the DIP, and HODL! - page 430. (Read 108263 times)

This is one aspect I have been viewing this. We cannot completely dispel the fact that governments of nation will do their best to support gold given that they can control that only Bitcoin that is decentralized. So, politics will definitely play a part in all this. Remember how Chinese government decisions have affected the price of Bitcoin in the past. So, it will take time for Bitcoin to beat the popularity and mainstream acceptance of gold but I don't see the time as being too long.


No doubt, Bitcoin have a lot of advantages. The freedom it offers a lone is one unique feature that endears many to it. Another aspect is that Bitcoin have limited supply and this make it attractive to hold because scarcity will always create demand cum higher prices.

I hope you read what started my post first, I referred to what @armanda09 said, because he decided that it is better to save bitcoins with an amount of $ 20/day than to do social gathering.

I agree with you, when it comes to the issue of quantity, because it is a dynamic and fluctuating matter, because everyone who has a stable income doesn't necessarily have stable needs, sometimes they go up and down.
That's true, those who miss several periods of buying don't matter if the goal is long term in accumulating bitcoins because it's true as you say, and they can continue at a later time when they find enough stability to continue their bitcoin accumulation.

But what I'm trying to suggest is for the main point of the point is, if someone has the intention of accumulating bitcoins every day for a certain amount, it is not effective, because it is based on transaction costs, which you might be able to take as an additional investment if you reduce transactions to make purchases, although only accumulated from all fees 1-5 dollars.

Fuck gold.

It is not a good idea to incorporate gold into your investment portfolio.. especially when we are here talking about bitcoin, and are we again going to getting into those nonsense gold versus bitcoin discussions when we are supposed to be talking about bitcoin - and surely there are other threads about that or if not other threads can be made.

Ok... let me bite a bit on this topic. Sure if you are used to gold, and you have some systems to actually interact with gold that you already know, then sure maybe get a bit of exposure to it.  Otherwise, you should realize that bitcoin is in about the territory of 1,000x better than gold, so even if it takes 100 or 200 years for bitcoin to actually reach its fair/appropriate price in respects to gold, you should be able to pretty much recognize and appreciate the direction that the whole thing is going (when it comes to gold versus bitcoin and the fact that currently bitcoin is priced about 1/20th of the current market price of gold. which surely we can already see that bitcoin has been closing the gap and has closed the gap a lot over the past 10 years or so - and maybe the first few years of bitcoin's history might not count as much when it comes to having some kind of a monetary starting point), so in that regard, gold remains a BIG ass waste of time, energy and value (and in essence a distraction - and likely a way to help you in terms of your having fun staying poor) to be fucking around with gold - when there is bitcoin.

Another supporting point is that if you consider bitcoin to be a kind of hedge against the whole system in the context of history in which gold was serving that purpose, then bitcoin has largely taken that use case for gold and is about 1,000x better than gold in terms of its verifiability, divisibility, transportability, securability (and cost of security) and even scarcity.

There might be a few use cases in which Gold's physicality is of value, including its industrial and jewlery uses; however, for the most part, when it comes to actual money, physicality and even those other uses cases are both hinderances to actual value. Try to move $20k, or $500k, or $10million or $88 Billion worth of gold, good luck with that in terms of both cost and/or in terms of not getting your gold jacked (which means someone else taking it from you).

Now, like I already said, if you would like to keep around 10% (even though that might be too much) of the value of your bitcoin holdings in physical gold because you are preparing for the Armageddon (which surely is not a very high likelihood event even though March 2020's outrageous liquidation event and even oil going bellow zero likely showed us how fragile some of these traditional pricing systems are), then sure keep something around 10% in gold, even though maybe 1% or 2% would be more prudent.. and may I remind you, there are likely ways that you can diversify your portfolio in assets other than bitcoin (and I am not referring to shitcoins) and those categories are property, equities, bonds (and cash equivalents) and commodities, which actually might include gold in that.. so in the sense of overall portfolio diversification there could be some use for gold, but if you are brand new to investing and you are just building your investment portfolio, then there is likely hardly any reason to have gold in there or anything else beyond bitcoin and cash... you can surely start building your investment/savings portfolio with ONLY bitcoin and cash, and not diversify until you get to some threshold amount, maybe even 30%-50% of your annual income or even some higher amount, such as 1x or 2x of your annual income, and you will need to decide for yourself at what point that diversification is starting to make sense, but there is likely no need to consider diversifying from the start and the extent to which gold might end up coming into any kind of justification for diversification likely is way less than you might have historically considered it to be, especially given some of the already existing dynamics of bitcoin's 1,000x ish superiority to gold in the various money, store of value and inflationary hedge categories that I already mentioned.


Sounds like a fantasy if you really believe that BRICS nations are going to be able to realistically coordinate a gold standard era sufficient enough in order to overcome the various ways that we already know that gold can be corrupted, and part of it's problem is both its paperization and its physicality, so it is not so easy to force possession of gold, but there are ways to force possession of bitcoin in order to keep the auditability of bitcoin in check.  And, sure a lot of BIG institutions are attempting to corrupt bitcoin in the same (and similar) ways as gold has been corrupted, and so they are able to trick people into contracts for their bitcoin in which people cannot get possession of their bitcoin, but so long as people are not entering those kinds of contracts, and either demanding possession of their bitcoin or ongoingly creating systems in which they are not giving up their private keys, then bitcoin remains way more possessable than gold.. and some of those institutions (and probably their clients) that are holding paper bitcoin -- or claiming to have bitcoin that they do not actually have  - are likely going to get fucked at some point.


Yep.. there are likely going to be ongoing battles on these grounds, but bitcoin remains superior in terms of the power of being able to possess and verify it relatively easy, and likely people are going to continuously have to learn lessons about holding their actual keys and avoiding getting rug pulled by people who either do not hold the bitcoin that they claim or that they are not being honest in terms of ability to access such coins (and in which circumstances, which is still likely going to continue to enforce ideas about the values in regards to who hold the keys and whether the key holders are actually honest players when they are supposed to be holding those keys on behalf of others.. and it seems that one the the best ways to test those who possess the keys, is to demand possession of the coins).

I never bought Gold neither am I planning to buy now... Like you said, Bitcoin have proven to be a better option. In other words, I feel the era of Gold is gone unless maybe the BRICS nations are able to reinstate the Gold Standard era which I have seen many people pontificating about. Howbeit, even if this happens, Bitcoin will still triumph given the ease of access, ownership,potential, security and many other advantages it hold for the generality of humanity.

Your observation is valid that Bitcoin can potentially replace Gold as a store of value gradually in the long run.. However, it is important to note that Gold has been considered as an important asset and hedge against fiat currencies since the dawn of human civilization. Furthermore, a significant potion of world population is unfamiliar with Bitcoin, but they know the value of Gold. In this context, it will take long time before Bitcoin can effectively replace Gold. Therefore, it is a good suggestion to incorporate Gold in our investment portfolio to certain extent, thereby achieving diversification benefits.

Yes. At the moment, it looks like BTC price is increasing post the last correction with a volume decrease of almost 70% but, it is a good idea to start accumulating your BTC until bitcoin one day returns above $50,000. Yes, and if I'm not mistaken MicroStaregy has also continued to apply the Dollar-Cost-Average (DCA) Method to the bitcoin market and as a result it has increased their BTC holdings to 17.45% since 2021. Yes. Very smart Mr. Michael J. Saylor in reading for this moment.

Well, there might be some kinds of projections that are more specific than others, but even if you had looked at my post in which I attempted to assign probabilities to all price ranges (up and down) and then to place those projections within a specific time frame, those probabilities were assigned based on that particular date, and sure maybe they will continue to stand, even in my own head for one, two, three or even more months until some kind of event might happen (whether it is merely the passage of time or some kind of a price event) that causes some needs for me to feel that I need to assign probabilities differently... and even if you specifically look at the prediction that greater than $1.5 million has a 0.5% chance of happening, that is a pretty damned low probability, so you can call me a crazy loon, because I have assigned a non-zero probability to such a large number, and I doubt that I am being unrealistic at all, even if someone else might have topped off at $100k having a 0.5% chance, and I would have called them loonie for failing to sufficiently/adequately account for upside scenarios, even if they still ended up being correct for the last cycle, but it still does not mean that they were correct in terms of the odds that they had given to $100k being breached.


It seems to me that bitcoin is going to continue to eat gold's lunch, just as it has done in the past 10 years or more, so on an individual level you likely need to figure out how much to waste your time, energy and value to place it into gold... but whatever, each of us need to decide for ourselves the extent to which we might end up diluting our bitcoin investment into things like gold... I would suggest don't waste your time and money to invest any more than 10% of the value of your bitcoin investment into gold, but hey, you can do what you like.

Someone can do without coercion in their minds to be able to buy at the nominal rate they specify because the direction of urgent needs makes the situation quite complicated for our finances, but we can do it regularly with a different nominal investment rate from week to week.

Previously I thought those who did long term would not be a problem for them if they missed a few buying periods due to financial instability. However, they will resume buying when their finances stabilize.

Talking about the amount of investment, it really comes back to each individual because he will do it according to his abilities, indeed the monthly amount is quite large and the average standard salary in several countries is indeed not enough for that, but if he has a good position in his job, he will definitely able to do it.
In my view, collecting bitcoins at a total price of $ 20 / day is of course an inappropriate strategy in my opinion, because it will take a lot of transaction fees which are quite hefty if collected, it is better to extend the purchase interval, for example once every 2 weeks or once a month with a total amount the same one.
For example $ 20 X 14 days (two weeks break) = $ 280, and he only makes 2 transactions to make purchases in one month, in my opinion this method is more effective and economical for buying bitcoin.

Your point is taken and projections well appreciated. While your projections are exciting and suiting to read, the path to their actualization are still not clear but then, they are opinion and hypothesis that are not cast in stones.

On the aspect of Bitcoin and Gold, I think both will play a key role in the future. While the later have come of age, the former ia still young and will take some time to fully harness the potential.

That is indeed one of the important things because being aware of what we have with all management is of course something good. but looking at the initial context about selling some btc and waiting for the bottom price this will be a double-edged knife because it will be great if it really goes according to plan but this will be bad luck when we sell some bitcoin from what we have while hoping for a correction and buy below but what happens is the opposite where we sell some bitcoin that we have and bitcoin goes up precisely this will also have risks of course.
So in this case IMO it is better to hold on to the assets we have rather than take the risk of selling and hoping bitcoin goes down because in my opinion such opportunities are not too certain even if we use the analysis and research we do.

I think this is related to the income we have, of course everyone has different abilities, including in this investment. Again, planning is the most important thing, it doesn't matter how much we are able to invest in every day, every week or every month, as long as it doesn't become a burden for us in the end. I mean if we have that ability (investing $20 a day) like the OP did then do it, as long as that amount is not forced, or in other words we force ourselves so that the amount must always be there every day, it is not wise or even tends to be bad.
Different opinions will always exist, and again it may be based on our capabilities.

It's too big and I don't think it will be able to be consistent for a long period of time.
Even if it's good but if it can't be consistent I think this can actually hinder. I'm not saying it's not your method, but this level of aggression will be difficult to balance if you have a normal monthly financial situation.
$20/day = $140 per week and for a month for example in one month 30 days = $600 I think this kind of money is difficult to get with income in some countries with lower salary levels.

Maybe it can happen for you but I just want to suggest try to reduce your aggressiveness a little bit because it's not just about 1 or 2 months but consistency needs to be maintained more than that.

I get it dear, and i will try to work on it.
That's quite a story, i didn't realize people love that thread that much and i also didn't realize that we could ask moderators for such changes well that's a good thing then. I still not started to post there instead i am just observing it but once i get to understand some things i will be active there.

I wanted to share some news that the number of 1 BTC holders are keep increasing like back in 7 August when the price of BTC was around 28,800$ the number of 1 BTC holders increased by 25 numbers. Now the total 1 BTC holders are 1,013,414. In my opinion the number are still small but the taking the price of the BTC in to account it seems ok. What do you guyz think. And, i think its a good thing that these numbers are increasing because that show the commitment of new or old holders towards BTC and it is growing.

https://twitter.com/glassnodealerts/status/1688826207645659136/photo/1

With the current Bitcoin situation looking increasingly bearish this is indeed a good time to raise as much as possible, to be honest I would be very serious about setting aside the remaining cash I need to then buy Bitcoin at least once a week and I would buy it at the current lowest support. I hope and I will suggest a little to use money that is beyond your needs to invest in Bitcoin, because indirectly the money factor used will also greatly affect our mentality in holding Bitcoin according to a predetermined time target. because I see many traders who are hesitant especially for those who will invest long term, and in the end they do CL at a price below their purchase. So always use unspent money if there is something urgent, and with that we will be calm in holding it. The last Bitcoin halving occurred in May 2020 and reached 700%.
Now is the right time to focus on growing as much as possible, Bitcoin will soon be halved and we will be profitable in 2024, stay consistent and be patient.

During the last cycle, in one of my posts from my investment thread, I had placed odds of 0.5%-ish for supra $1.5 million per bitcoin happening by the end of 2023.. or there are various ways to read that.. with probably even lesser odds, because there is a placement of odds upon the substantive prices and there is a placement of odds regarding how long it might take for whichever scenario to play out.

So I figure that the odds are not any worse for this upcoming cycle, and we likely need to move the numbers up higher.

There are a lot of ways to consider upward price potentialities of bitcoin, including considering that:
1) bitcoin is likely 1,000x better than gold, but it is ONLY about 1/20th gold's price. .. it could take 100 or 200 for bitcoin to reach fair market value in regards to gold (so at current inflationary considerations that would be $50 million bitcoin)

2)  in the future, the total investable (addressable) market is likely to be more than $1 quadrillion (in today's dollars), and how much value is bitcoin going to take from that?   That would also be $50 million per bitcoin if it takes all of that.. but yeah, maybe you believe that bitcoin ONLY can take a fraction or that... and for sure, it would take many years (perhaps 100 or more) for bitcoin to come close to capturing most of that $1 Quadrillion, if it is even able to do it..

You do not have to completely subscribe to these kinds of ideas in order to consider the possible ongoing upward price pressures on BTC that might not exactly cause explosive growth in short time periods (such as within a cycle), yet you can also consider that it could take several cycles to start to feel that those kinds of numbers are starting to seem to be more reachable.

Part of what I make out of your post in the other thread is that there are chances of Bitcoin moving from $50k to $1.88 million; How did you arrive at those numbers? Furthermore, even though I believe such is possible,I am still struggling to grasp the rationale for such huge growth and the time duration it is expected to be achieved.

Nevertheless, if that happens, that means we would have seen Bitcoin fully sited in the mainstream as a legal tender and the use cases will just be indispensable.

Yesterday, in another thread, I made a post about 4 hypothetical HODLers, and my suggestion in that post is that it is problematic for the hypothetical holders to be selling too much of their BTC too soon, and out of the 4 that I described, it seems to me that ONLY the 1st one was really in a position to be possibly selling some of his/her BTC stash, and sure of course, each person has to decide for himself/herself in regards to the extent that they believe selling BTC is a good idea for them, even if the BTC price may well end up surging in the short term, how are they going to know that they did not sell too much BTC too soon and screw up their own BTC accumulation strategies because there might be erroneous ideas that the BTC price is going to correct back down and it might not correct back down.

This strategy is good;it shows you have a plan in place. The only thing I would have done differently would be not to sell all at $50k because there is very high chance that once Bitcoin reaches $50k, it will pass the ATH of around $69k with target around $100k. So you will be loosing decent amount of money selling at the price you planned. What you should do is to liquidate part base on your needs and leave the rest to run.

At the pace the world is going, fiat is seriously loosing value and at alarming rate. My country's currency was recently devalued and this lead to huge inflation and economic woe for a lot of people. Those who thought they were smart by saving for the future through fixed deposits have lost more than 60% of the value of their money even when there is gain in the quantity while those who bought Bitcoin are in huge profits already with the value of their investment tripled within same one year interval.

The need for people to start shifting from fiat for something more reliable and sustainable like Bitcoin can never be over-emphasized.

Wow.

Daily does seem a bit much to me, and if you are buying weekly, then your allowance is $140 per week.  That is a decent amount to be buying... but if I was in a similar kind of accumulation phase with that kind of a weekly (daily) allowance, I would figure out how to use up the whole amount every week, but at the same time, I would not necessarily buy BTC every day... but that's just me.

Regarding your plan to take profits at $50k, that surely seems short-sighted to me, and sure people can do whatever they like, even if they are likely selling too many BTC too soon, failing to understand and appreciate the value of having had spent a decent amount of time accumulating BTC, likely putting too much value in terms of the fiat price appreciation, and failing to consider a longer term investment time horizon that may well be 4-10 years or more into the future... and even 4 years is a pretty short period of time, but could be acceptable for some more elderly people or people who might otherwise be in phases in their lives in which they might not be able to accumulate and they are either in maintenance or liquidation stages of their lives.


Still $50k is a pretty damned low price, but sure do what you like, if you think that you are smarter than everyone else, and if BTC ends up going up to $1million or $2million and you have failed to sufficiently prepare yourself for such possibilities then you ONLY have yourself to blame...and by the way, bitcoin does not need to go up to $1million or $2million in order for it still to likely be foolish for you to be selling your BTC at $50k... but do what you like, and have fun staying poor.


Yes. .you are thinking short-term and we are not really talking about selling in this thread..... especially in seemingly whimpily time frames and whimpily price points that you seem to be suggesting.

Sure, bitcoin might never reach all time highs again, yet we have already seen historically that a lot of folks sell way too many of their BTC too soon, merely because they fail/refuse to recognize/appreciate both the value and the upwards price potentials of the asset that they hold (namely BTC).