Topic: Buy the DIP, and HODL! - page 44. (Read 91004 times)

I think you misunderstand Troytech here. He never said anyone should hurry up and buy Bitcoin. Read again, Basic knowledge, and standard knowledge are two different things. When you said basic knowledge it is what a beginner needs to know after having the idea of investing in Bitcoin. It includes how to store their coins properly and the strategies and theories regarding Bitcoin investment in general. Standard knowledge of Bitcoin includes understanding Bitcoin in all areas, which involves the theoretical and technical parts of the blockchain. Which I agree with him that for a beginner basic knowledge is only required to start investing, the most important thing is to know how to start investing, how to keep your coins safe, and how to ignore risk during our investment processes. The research you mentioned falls under basic knowledge and not standard knowledge.

I know this question is not for me but let me give you a quick answer.

There is no specific best time to accumulate Bitcoin. At all seasons an investor can stack bitcoin as long as he has the basic knowledge to hold his funds. Once we have gained knowledge of Bitcoin we understand how the investment works the investment begins. Now we can still afford to buy Bitcoin with our little earnings it is a good time no matter the season we are in.

Understanding price movements in the market is very important not only for traders but investors must also do this so they can enter at the right moment and maximize long-term profits. Many beginners often miss this point, just because investing they don't feel the need for price movements in the market, they prioritize buying, buying and buying. There's nothing wrong with that, but in terms of learning, the point of studying price movements will be very useful, if it concerns long-term investments so that we don't just buy anything. Always calculating, investors who are good at taking advantage of opportunities are those who understand market movements both when buying and when selling.

You don't really need to know everything before you invest in Bitcoin, you only need the basic knowledge and good investment goals, it is not stamped that newbies must invest have all Bitcoin knowledge before investing. And I must say investing in shorterm and longterm is based on the investor understanding about Bitcoin, op you should know that Bitcoin is not get rich quick investment that's why the good investment plan for Bitcoin is long-term, during this long term an investor would have been conversant with the system, many events will take place and after that he will not see fluntuation of Bitcoin price as a threat to his portfolio, then he will wait for the profitable moment to come.

The right time to invest in Bitcoin is when you are financially and mentally ready irrespective of the price at that moment, you plan by having extra hustle and emergency funds for yourself so that once you invest you won't be tempted to withdraw prematurely, you follow-up your Bitcoin investment using a good non custodian wallet to hold your Bitcoin, know your passphrase and keys and save it personally so that you won't lose your Bitcoin temporally or permanently.

There is no room to fear as you said all one need is to planned well and save before engaging on the investment, this can help investor to accumulate even more as the attention to quickly withdraw won't be there is a result of not planing properly that make most people that engage on BTC begin to consider withdraw so fast because they are choke with other responsibilities that that can't deal without venturing or touching tje investment,you can only see the value more when there some set outside strategy of handling some daily impressing needs outside one investment.

A beginner don't need to understand anything about the next movement of bitcoin or read candle sticks or charts because they are irrelevant. The reason why I said that they are irrelevant is because that investor does not want to trade. What you stated are for traders, a new beginner that plans to hodli for long will not run at loss and can buy bitcoin anytime either in the bull market or in the bear market. This is because his aim is to accumulate as many bitcoin as possible overtime and does not have plans of selling. If a new investor buys his first bitcoin during the bull run because he feels he needs to start right away, and continue to DCA every week or every month regularly without skipping on week or month, you will see that he will also buy bitcoin during the bear season till the next bull run. His average bitcoin price will be balanced and he will be in profit in the next 4 years even if bitcoin price have not passed when he bought his first bitcoin.

So this is why much knowledge about the market is not needed but on to buy and transfer to your hardware wallet, because you don't need to distract yourself about the price of bitcoin, you are only focus on buying. You should also note that the price of bitcoin increases overtime, and it is not easy to know the next movement of bitcoin price, and it is very stressful to read charts and candle as a beginner who has the money to start his bitcoin investment right away. Even traders lose a lot because they find it difficult to know the next bitcoin price movement and read candles.

It means that the new beginner that is suppose to buy bitcoin at 67k now will take a lot of time studing without any bitcoin, might end up buying at higher price or will miss the quantity of bitcoin he is suppose to have accumulated because of learning what is not useful in bitcoin long term investment. The new investor just like @JJG use to advise can start accumulating and learn at the same time.

Even though bitcoin is not a stable coin that shouldn't discourage who wants to save up money to invest from investing in a wrong time, note, as the price isn't stable it makes it easier for any investor to save and invest whenever he wants to as no time is late to invest and to take profit. I think it is right to have have a stable income before investing in bitcoin since it will reduce the panic and fear of the investor but anyone who is investing with a little earning will only be hoping to get a quick profit which may never happen easily unless the price increased tremendously after investing so I think saving enough money and having a good and stable income should be considered by anyone before holding bitcoin.

From your perception is good to hurry up and invest in bitcoin, is that what you will advise beginners to do, in norms you don't need to venture what you don't know about without proper research, someone get into lose base on over excitement and curiosity to invest in order to make a profit, as investor you need to be inquisitive to something you have not comprehend well..let me ask you, during the bearish season and bullrun when is best time for someone to accumulate bitcoin?.

I can't be that conscious to invest due to bitcoin price is increasing rapidly, you most at least scrutinised the market and understand the next movement of Bitcoin through the chat or move of candles sticks, probably, we need to know that is not all about investing but understand the system first, many of you is curious to invest when the price of bitcoin increasing and you feel is the best time to accumulate your bitcoin.

Both you and Tmoonz are quite on the same page, he is only proposing that at least someone should have basic knowledge before venturing into buying bitcoin, although some of those stuff he listed might take so much time to learn which i disagree that they are important for anyone to learn before getting into bitcoin.

Cashflow management is something that you never end learning, from the first day that you decide to buy bitcoin with 10$ you have already started investing, I understand that a newbie might not have figured out the difference ways to chuck down the expenses to maximize his bitcoin investment but I rather say that he should remain as aggressive as his knowledge can carry cause it might also be that he has not been practing self insurance or have any emergency funds prior to his first purchase, so as je gets more knowledge and knows more about himself and what he can do to better put himself in oder then he can start getting more aggressive and maximize his bitcoin investment.

It's totally wrong to tell someone to learn it all, what you fail to realise is that we never stop learning this stuff, as we progress we improve ourselves and what should have been our risk tolerance or disposable income of yesterday would become bigger and we get more stable in balancing ourselves as we know more. So yeah it's better to get started immediately then grow with the process, I tried that and I'm still learning, if I hadn't started when I did I might not have even understood what most if what Jay or anyone was saying , the process is the best teacher.

You're right here! Once we understand the various aspects and things to consider in investment. We can now start our investment with any of the strategies. Procrastination can be a very big factor and before we know time has gone far to meet the goal. Since there is no perfect time to buy Bitcoin there shouldn't be any procrastination because of the things they can figure out along the line. However, an investment timeline or should I say goal is something to have decided before starting an investment, this is because you accumulate towards achieving that goal, and the goal is what helps an investor to be committed to his investment. So, it's not something they have to figure along the investment line. It should be before they start an investment.

What's really crazy with other investor especially to those new in the industry is they only know the word hodl if they see bitcoin going into bull run condition but once everything is in bad condition like a bearish market condition will occur they easily fade out and think about not having bitcoin since they fear to lose there money.

That's why its important to learn a lot of things before taking a decision to push what they like since there are lots of challenges will happen and they need to sort that so they will not do a bad decision that could potentially cost them a lot of money.
Although learning a lot and strengthen up our emotion can't be learn in short time but once we are consistent learning all those need to consider then for sure than we could provably became more better investor that can decide so well whatever the market is currently situation going on the market.  Also for sure with great knowledge they have they always think about going for long term and short term investment is just a bad idea to take for them.

Getting a standard knowledge of bitcoin isn't something a newbie can cover in a week or two this could take months or even longer before he we would understand more about himself like cashflow management, risk tolerance and his investment timeline, all this are decisions that could take some time to figure out, waiting is a very wrong idea especially when you already know how to buy bitcoin and where to store it, this are the basic knowledge that I consider important for a newbie the rest can be figured out in the process of buying bitcoin, yes some newbies can tend to be very aggressive with regards to the price of bitcoin which I don't really support cause aggressiveness without knowledge of yourself can cause you to sell very early than expected, so a better advice like what Jay had said earlier on would be for them to get started even if it's a very little buying purchase of 10$ weekly and consistently while the figure out themselves properly.

A new beginner that wants to start his bitcoin investment as a no coiner does not need to know what triggers the price of bitcoin to pump or dump because it is impossible for anyone to know what will happen in the future as different scenarios and government policies/regulation and unforeseen circumstances can play out tomorrow that will affect the price of bitcoin to pump/dump. This is why that is useless. Also knowing about bitcoin season can be learnt as long side as investing. A new investor should start investing immediately, he has the money to do so, this will enable him accumulate more bitcoin and at the same time acquiring bitcoin knowledge. This is because he is investing for a long term in which he has all the time to learn more about what he is putting his money into, and he will not be faced with any challenge of running at loss because he will not be selling but only buying. What he needs to know is how much he needs to use to DCA constantly every week or month from his spare cash after he must have taken care of all his needs and expenses monthly.

The reason of investing is to grow that invest and build it up to a level that they investment will start taking care of you, and that cannot be achieved immediately, it will depend on when you started the investment. This is why delay is dangerous, and acquiring unnecessary knowledge as a hodler who is on a long term goal will not help you reach your bitcoin target quick.

A new beginner on his bitcoin investment journey does not have any best time to buy, because he is a no coiner or low coiner, he must keep buying regular consistent and persistent in order for him to be able to grow his bitcoin stash to the maintenance level overtime. It is investors who are in their maintenance stage or have almost reached their maintenance stage that buying at the dip is the best for them, because even if they DCA with little amount regularly, it will have no significance increase on their bitcoin stash. Remember that it is hard to know when the dip will come.

Why are you planning to sell due to little surge in price or are you not planning to hodli for long term, because it is only when you hodli for long term that your portfolio will generate a good profit due to the compounding effect of your bitcoin portfolio. Investors that sell too quick ends up in regrets and lamentations because you might not be able to buy those bitcoin that you have sold at the same price in which you bought them 4 years ago.

Gaining knowledge before going into any investment is very important, without knowing the basics of an investment before going into it can amount to failure, also taking hasty decisions before involving in any monetary ventures is a danger and can make the person to lose their investment funds. Before going into Bitcoin investment, it is important to understand how it works, knowing the basics like the seasons, bull run and bear run, what can trigger price to pump and dump, what halving means and how to protect your wallet from hacks, also how to secure your seed phrase, this basic knowledge will prepare a newbie investor on how Bitcoin works.

I like the phrase "buy the dip and hodl" it will direct newbies and experienced investors on the best time to buy Bitcoin, so that the person will not wait till another halving, to see a new ATH price, before they can make profit, buy during bear run and sale during bull run. So the best time to buy is when price dips, and sale when price surges, also the best option is to do DCA method, keep buying irrespective of short term pump and dump, then sale in the bull run or keep hodling.

Beginners who haven't invested in anything but have a great desire to do so, of course questions like that are very natural for them. But I think there is something more natural for other people to ask and it would also be quite good if every beginner wanted to do it, that is when the beginner has time to learn to know good investment assets and then understand how to invest well and which assets they will put their money into as investment capital. Because if they can ask themselves and can listen to what other people are asking, of course what they have to do is move to make it happen, such as trying to buy Bitcoin on the Dip and holding it (if they already know about Bitcoin).

Ok I think I gree with you since you said one can still get started when try to figure out one's personal factor. Is very important to figure out one's personal factor and that is the first thing anyone trying to go into Bitcoin investment should know but one can still get started while having all the knowledge.
And I believe there are a lot of things a beginner should know about investing on Bitcoin but one should know the basic things in other to invest, after investing you can still go on in acquiring all knowledge about Bitcoin.
The major thing is for you to know The basics first so you can invest no need of waiting for years in trying to know everything about Bitcoin and when you have started you will now no more about Bitcoin as time goes on.

Things you don't need to overlook before going to bitcoin investment is have acquired the knowledge first, when you are curious to accumulate bitcoin, theirs is possibilities that after accumulating your bitcoin the price might neither crash or not, that is while you need to have standard knowledge of bitcoin before you think of accumulating of bitcoin, some persons seems how skyrocket the price of bitcoin is moving now and that prompt them to think that investing in Bitcoin is the right option...bitcoin investment is not the way someone can get rich and when you are investing In Bitcoin you have to calm down and study well, many people come up with bad idea in bitcoin due lost they experience after been lose in bitcoin investment neither short-term or long-term investment.

it should be a task to beginners to ask such questions, because for me I know quite well that you want to become successful you most ask others the pathway that makes them to be successful, so I know very well that what makes people to join bitcoin investment without making research is out of desperation, while is good to advantages and the disadvantages of something you wants to venture into it before you enroll yourself.

I think that frequently my main points have been that the more that you know the more aggressive you can be in your bitcoin accumulation, yet in the end, each person has to figure out the finer details for themselves in terms of how aggressive that they might want to be and how to employ the various BTC accumulation strategies (of DCA, lump sum and/or buying on dip), and they also should be figuring out their investment timeline, and other various personal factors, but the mere fact that they still have things that they are figuring out should not stop them from getting started, but they might still have to tailor the level of their aggressiveness in accordance with how solid they feel in regards to each of their 9 factors and/or any other considerations that they might feel that they need to take into account.

Most beginners do feel that it is already late to invest in Bitcoin now since the price has gotten so huge but most of the things that causes fear in these set of people is just lack of understanding to know how the market works and they make too much assumptions all the time without making research to be able to know the right strategy to follow for them to become successful like others that have hodl for a long time now, you can't just be making exaggeration without making plans on how to start your investment.
                  Bitcoin is a digital asset that has gone above mere speculation so why making speculations, mapping out plans on how to go about your investment will help you to project your investment to a good extent. Unfortunately, some beginners have not even been able to understand that even if Bitcoin decreases that the amount of Bitcoin the bought will remain the same as it is but as the price increases the value also also increases. It is always difficult to start up an investment but as soon as you are able to conquer fear and anxiety and make a solid step to invest and as you have invested and be applying different strategies at every point of your investment in Bitcoin that is how your understanding expands more on how your investments can appreciate as time goes on.

Well that only imply if you try to invest on short term since you really need to consider those risk and learn from it. But erase those thoughts regarding on those phising and scams since we are not talking about that matter here. What's best to discuss is on how those newbies can make their investment plan to succeed especially on the methods they should use since there's really a lot of information to learn here.

What those people need to know that short term investment bring more higher risk to them than investing on bitcoin for long term that's why they should focus on things that can actually give them high chance to earn. And in process they should consider to learn certain flaws that can affect their investment decision so that they could earn success and they will not get easily bother by anything that might happen in future. Its interesting to see that now there's a lot of people is engaging with this hodl discussions since we can learn a lot of knowledge coming from multiple source that can help us became more better investor.

While I agree to you in most of what you've said but learning how to invest in Bitcoin isn't just all about how to invest and how Bitcoin works. There's so much they need to learn but I don't want to complicate it because they'd come by to that once they're already in. Like how to protect themselves from potential scams and phishing, so knowing the volatility of Bitcoin which is included on how BTC works but all of those will be learned by the newbies once they have allotted money on BTC already.

IMHO, there is no need for so much strategy before someone invests in BTC. Having the basic and common knowledge is enough to start but even if they have a background in finance, BTC is totally different from what they used to see but that's a good start if they have it because they're already well versed with taking risk.