Topic: Buy the DIP, and HODL! - page 45. (Read 91004 times)

Investing in Bitcoin has gone beyond answering the question when to invest or accumulate, the logic has been that invest when the money is readily available, any time you accumulate is good if the intention is to hold, with dca strategy you will have no business considering when to accumulate as you will be making purchases on regular intervals irrespective of the price point either weekly or monthly, you don't need much of this wisdom or knowledge to accumulate Bitcoin, figure out the level of your disposable and get the fucking started.
The choice of strategy or strategies is a sole decision of an investor and he or she must tailor it down to suits him or her in terms of financial situation, risky tolerance level, investment goals and objectives inclusive.

What about those people that has full understanding about there finance and also has a discretionary income. the knowledge of Bitcoin is different from that of finance, you can be a beginner (newbie) but have all knowledge about financial management.
So if such person's are going into Bitcoin investment all they need to know is how to invest and how Bitcoin works.
I agree with you and I believe having knowledge of self custody is very important and yet knowledge of self-custody is not a prerequisite in terms of getting into bitcoin you are very correct.

A lot of people has good knowledge of financial strength and management and also good knowledge in Bitcoin and all they need is a good strategy on how to start and I believe too much in strategy will make beginners confused in carrying out their investment except they are very much articulate.

Having a good knowledge when it comes to Bitcoin accumulation is actually good and nice . But  not accumulating due to the urge acquiring more knowledge is not actually nice , for instance most of us started our Bitcoin accumulating and holding while learning, and the funny thing is that we are still learning. So what am saying is that we don't have to wait till we have gotten some deep knowledge about Bitcoin before thinking of investing and all that. But one can just start accumulating without having the knowledge on how Bitcoin work and what's all about , and how to purchase and secure it , that's where having the basic knowledge first comes In .

And I believe that they are alot of folks here with that same mindset of wanting to gather some deep knowledge about Bitcoin before starting their Bitcoin investment journey, and most of them will only endup regretting not starting their accummulation and holding on time , Because the right thing to do is as one is accumulating more Bitcoin, as same time he or she should focus on learning too.


Long-term holding just the best , most time see those that are in for short-term profits as traders or  as someone that's gambling with his funds. So no need for one to stress or her self analysing the market instead just accumulate while holding and when gotten to a nice number, scrape out some profits.

The most basic things that beginners (newbies) need to know is about their own personal finances and not about bitcoin.

So the main thing that they need to know is whether or not they have a discretionary income and a kind of ballpark idea of what it might be, and surely they might have really shitty financial circumstances, which would mean that they need to invest less rather than more while they are sorting out their particulars.

There may be some need to figure out information regarding from where to source the first bitcoin purchases, yet in the very beginning there may well be absolutely no need to figure out how to achieve self-custody, even though self-custody may well be some kind of goal to get to that point in a fairly soon period of time after starting to invest into bitcoin (yeah, without self-custody it is price exposure and not ownership of actual bitcoin, yet knowledge of self-custody is not a prerequisite in terms of getting into bitcoin). 


Surely, I am not of the position that a newbie needs to learn about self-custody prior to getting started (with bitcoin price exposure), and I frequently suggest that the main things to know is about some ballpark ideas about your disposable income being enough to get started investing into bitcoin, whether that is starting with $100 per week or $10 per week or some other amount that fits into the newbie's financial/psychological situation.. and yeah, there may well be some needs to error on the side of conservative, if the newbie might not have a strong grasp of his disposable income beyond merely having ballpark ideas that he has a disposable income.

Another thing that other forum members refer to is having conviction about bitcoin, and surely there might not need to be any kind of strong conviction to get started, yet the lack of conviction and/or knowledge about bitcoin may well justify investing less aggressively during any process to build such conviction.. so yeah, maybe there is enough of a conviction to start to invest $10 per week based on the recommendation of a friend, but then later there might be increased conviction that allows the same person to increase the weekly amount to $100 or some higher amount...or to take other investment actions depending on their actual disposable income and other aspects of their financial situation, including various considerations of their 9 factors that can be built upon and studies. .and even tweaked for years down the road, yet not even having strong grasps of all of the 9 factors would not prevent from getting started into bitcoin, but having strong grasp of the 9 factors could well justify becoming more aggressive in terms of bitcoin investing, if that is what the newbie considers to be a reasonable/prudent approach based on their assessment of those matters..


One of the better things about bitcoin is that it is not a business, so you can choose your level of commitment with way less knowledge and/or skills. .and you can figure it out as you go.

Bitcoin has a potential to open the door to a lot of folks who otherwise would not be in a very good position to invest. .but yeah, they still have to be careful to not overthink some of the comparisons.. and yeah, it can still take a long time to really get to know bitcoin (and still not really know it very well), but even with all of that, an overwhelming majority of the world's population remains either low coiners or no coiners, and perhaps somewhere in the ballpark of 99%-ish, so the default idea in regards to bitcoin is to get started rather than fucking around with comparisons that either do not fit very well or they suggest waiting or needs to study bitcoin more....  blah blah blah.


In your example, if a guy is buying bitcoin with 25% of his expenses (50/200), then after about 4 years, the guy would have invested a whole year's worth of his expenses into bitcoin.. .So that would not be a bad place to be in terms of building a BTC holdings that has greater chances of getting him to fuck you status or some kind of a status in which he can start to employ sustainable withdrawal.

I wonder how important your ideas about profit taking is?  Sure we want to be in profits or even presume ourselves to be in profits with the passage of time, yet if the guy in your example continues with his practice of investing 25% of his expenses into bitcoin per year for 12 years, he has therefore invested 3 years worth of his expenses into bitcoin at the 12 year mark.  So then maybe the other question might be how bitcoin ended up performing over that time in order to allow the amount invested to grow at least with the cost of living increases and perhaps more than that. ... even though there are no guarantees...

So I am not necessarily going to presume regarding how much profits the guy might be in, yet I would suggest that the value of his holdings may well help to guide him in regards to whether he needs to continue to invest/accumulate bitcoin or if he might bd ready to start to employ some other strategies that might either be just maintenance or perhaps getting into various kinds of withdrawal practices, whether that would be time-based withdrawals and/or raking kinds of strategies.

Surely we make our own assessments regarding where we are at and how we might want to replace and/or supplement our income with bitcoin withdrawals if we happen to get ourselves into such a position.

The question every beginner must ask themselves if they really want observe before investing is I'm I in for the long-term or short term investment.... I wouldn't say more than that to avoid repetition

Maybe if indeed when we enter the total monthly investment expenses plus our needs for 1 month it will seem to be misleading but in this case I personally distinguish the calculation notes to make it easier for myself to manage the finances that I do.
For example, this month I have an income of around $300 a month and I spend $200 for personal needs and around $50 to buy bitcoin. I will make different notes for investments where indeed in the ledger the financial records will definitely remain $250 as this month's expenses but when talking about bitcoin we definitely need another record where there must be a record in the expenses we make for the purchase of bitcoin so that we know how much we have spent on bitcoin while we are here and that in my opinion is important as a consideration and as a belief that in the end being in bitcoin is profitable so that we don't not know how much of our money we spend on bitcoin and how much profit we can take.

But indeed in the end maybe this depends on what we are comfortable doing because the most important thing in this case is that we don't mess around with the way we manage money regardless of the different ways that are done and the mention of something in the end the goal remains the same, namely bitcoin investment.

Are you aware that anything that has to do with bitcoin investment you need to absolutely precaution to comprehend the effect after investing and before investment, someone who has not know the protocols of bitcoin can not quick to invest when it has not know the preamble of bitcoin investment, at least you observe the situation or the condition of the market before investment, so therefore learning and observation is one of the major thing someone who is new in cryptocurrency and also in bitcoin have to do, do not dispute a fact that bitcoin price is accelerating everyday and that will deprived someone who is new into the system not to gather more knowledge of bitcoin before investment, I think that fact is not acknowledge-able from my perspective.


to invest in bitcoin can be achieve very faster, but you have to know the rules and conditions that governors the rules, waking up one or one night to invest in bitcoin good decisions, but as someone who wants to prosper in bitcoin investment you have to acquire the knowledge first, because its knowledge that matters most for bitcoin investment, when someone that have wisdom or knowledge is accumulating bitcoin is different from someone who don't know when to accumulate bitcoin is accumulating bitcoin, so try to get the knowledge first.

It seems to me that sometimes folks get their investment into bitcoin wrong because they might prioritize it beyond their considerations of their disposable income.. so then they get into trouble.

Sure, there is no problem prioritizing your investment into bitcoin, but it still has to come from your disposable income rather than some abstract decision to buy $100 per week of bitcoin no matter what - and then you end up not even having enough to cover your expenses or otherwise putting yourself into a predicament that could have had easily been avoided with a tad bit more appreciation regarding your budgetary (and psychological) balancing considerations.



There is nothing wrong with your ideas of cutting some of your discretionary expenses down to amounts that end up prioritizing bitcoin, but that is a different question in regards to whether you are prioritizing bitcoin beyond your discretionary income.

Yeah, you may be able to drive a Toyota rather than a Lambo.. no problem. You may be able to go out to eat 1 per week rather than 3 times per week, and there are a variety of ways in which our own choices of expenses are deprioritizing investing into bitcoin, but that still does not mean that investing into bitcoin can either go higher than discretionary income or that it makes sense to cut some expenses that may well be important to your quality of life in other ways including that if you choose to eat really cheap food, you might end up with health problems that could have had been avoided.. or even there might be needs for you to take your girlfriend/wife out for dinner (or other ways of spending money on her) from time to time in order to preserve your relationship... or some kinds of normalcies in your life that sometimes involve expenses.. including in some of your social circles, you might sometimes need to spend money on friends/relatives, even though maybe they don't deserve it or appreciate your spending on them, but there might be some needs to preserve various relationships with people that sometimes will cost money and take away from your ability to buy as many sats as you might prefer to buy in that week (or that particular month).


You seem to be fighting with the idea of discretionary income, which seems like a semantics fight rather than a substantive fight... since surely you seem to realize and recognize that there may well be limits on how much any of us is able to invest into bitcoin on a weekly/monthly basis and there are ways that we can attempt to prioritize our expenses.. or even work on ways to increase our income.. .. so yeah, no problem with providing examples in which priorities might be changed and still be within bounds of discretionary income in order to invest into bitcoin or however else a person might choose to invest his time, money and/or energies.


I agree with almost all of what you are saying Justbillywitt; however, I find very little value in any kind of idea that any of us should be striving and/or able to achieve perfection in terms of our bitcoin accumulation and/or our balancing of our priorities.

Personally, I think that it is better to consider the matter in terms of some kind of a balancing of making decently good choices within a range of possibilities that give us more and more options the longer that we do it.. so that we are likely just trying to do a good and comfortable job rather than getting it perfect, and sure, I am not suggesting to be sloppy or anything like that since from time to time we might identify areas in which we can tweak one direction or another, and we can even choose whether or not to tweak, and maybe the tweak might not even be much better than our earlier set path, but we can still attempt to make various kinds of improvements from time to time, yet I doubt that we are necessarily achieving perfection, even while at the same time, we might feel that we are achieving a certain level of comfort in terms of balancing our own finances and psychology.


Churchillvv is not making a completely invalid point, since he might be saying that a guy who might have $100 in transportation expenses, might choose to buy a car or buy a lambo rather than a Toyota, so that guy might not be adequately grappling with his discretionary income because he is creating expenses that are higher than he needs, and he should be prioritizing bitcoin and cutting back on some of those expenses.. .which sure sometimes that may be possible and sometimes it might not be as practical as Churchillvv seems to be suggesting.  Sure, another thing, which seems to be part of Churchillvv's point, is that some folks might consider their Lambo as a transportation expenses, which truly it is partly a transportation expense, but the Toyota might be more practical and there might even be instance  in which it might be better to use public transportation, take uber or some alternative to actually owning a car - except maybe in the case of a business, the car might be specifically used for direct work reasons.

For any new investor, the best they can do is invest and learn at same time because learning is needed at the same time investing is necessary. For example, my first time hearing about bitcoin investment I had no knowledge but as time goes on I got basic knowledge and I had to buy bitcoin as practice makes perfect. Learning never ends and surprising how I got bitcoin knowledge here about bitcoin accumulation and investing with a comfortable strategy is needed. Firstly I must agree while learning we should start as soon as possible, from my view the common knowledge anyone should learn first is building an emergency funds, reserve funds as this really affected my early journey because I never had any knowledge at first. These funds is just like a foundation supporting the investment to stand so any new investor should also build these funds at the early stage.

Well the thing is that , is not like they don't require any knowledge before  investing in Bitcoin. But having the basic knowledge of bitcoin one is good to go into investing in bitcoin without having any technical knowledge . All they just need is to have some good cashflow and some nice basic knowledge on how Bitcoin work. Just as time wait for no one that how the price movement wait for no one so if one decide to gather some deep knowledge and technical knowledge on how bitcoin before going into it , such individual will only endup missing out big time.

That's why is better to start accumulating, and as time goes on one can decide to focus on gaining more knowledge while he or she are  accumulating and holding . With such act the chances of them building a nice stash , is pretty high.

I can see that you want to make me look like the bad one here so that you will be the good one. My suggestion was clearly for @rachael9385 because she said that people don't need any knowledge before they can start investing in bitcoin. Can someone who doesn't know anything about bitcoin start investing in it? The three months I mentioned for the reserve funds are the minimum months our reserve funds should serve us. You can keep reserve funds that will serve you for more than that if you are financially stable. I also want you to know that there's always room to rebuild your reserve funds so that it helps you accumulate the quantity of bitcoin you want and hold it until the expected year you want to sell your bitcoin.

If someone is ready to do something, even though the person is not aware of how the things are being done on time, he/she will be able to gather his/her own knowledge because along the line when he's doing what he/she is doing, that's the process he starts learning.

Let's take this forum for an instance. If a newbie registers on the forum and he hasn't made any posts, he/she won't know how the forum works (unless he/she does something). So I have learned that once it comes to Bitcoin investment, without making an attempt to start something, you willn't be able to understand how Bitcoin works. Now for a better start, it's good to get started now than ever. Besides, if one is waiting to get Bitcoin investment knowledge before investing more, more opportunities will pass and it will be very hard for those opportunities to come back. Now let's also take this for instance, when Bitcoin was @$50k months back and someone who was interested in investing in Bitcoin was learning instead of investing alongside learning. Now, those times, Bitcoin was @50k has passed, and the person has missed the opportunity to buy when BTC was $50k and now, Bitcoin is in the range of $69k and $70k. So, this is also a good example that every minute is the perfect time to start investing in Bitcoin.

Well, no doubt that you need to get the knowledge of investment, but here is where you get it wrong. If you are interested in investing in Bitcoin and you do not have any knowledge of Bitcoin, the first piece of knowledge you can get is when you have clicked on the buy button. Acquiring knowledge by buying Bitcoin is a gradual process and you can't rush it. As time goes on, you will learn more, especially when Bitcoin is going up and down and during your accumulation process.

Perfectly said.

If a newbie is planning to gather bitcoin knowledge before he starts to invest in Bitcoin, he will make a lot of mistakes and the worst of it all is the more he's busy learning about Bitcoin, the more time flies. However, getting Bitcoin knowledge is not a one-month thing, because as day comes, so more ideas are added and also the more Bitcoin goes up and down. A newbie shouldn't stress him/her self to get Bitcoin knowledge before investing in Bitcoin. Getting good bitcoin investment knowledge needs a practical solution, just like applying the DCA method and making sure that they have 3 or 6 months of emergency funds. Buying is always important in the Bitcoin world. A beginner at Bitcoin needs to buy and hold, then keep piling the investment up before he can get quality knowledge. Moreover, one can not fully learn the whole of Bitcoin investment knowledge.

Read the post again.....  the poster was not actually talking about completely zero knowledge  about investment
Besides 70% of what you listed which is 3 are what you ought to have know before  even thinking of starting an investment in something  like Bitcoin...
No one is overlooking  the beginning  neither I'm I  disputing the fact that learning us important, either you're fast or slow in learning, bitcoin does not give a f*ck  as it won't wait for you to complete your learning process... there's  no need to repeat my self about basic knowledge,check my comment above ...

You are right @Mayor of ogba investing into what you don't have basis knowledge can be very risky expecially when dealing with Bitcoin investment, most persons don't have any basis knowledge concerning Bitcoin investment but they do hear about Bitcoin they may not really know how it works, so having basis knowledge about Bitcoin investment will really help you in your investment journey and you can be learning more while you are already on it. At least one need to be knowledgeable concerning what emergency fund mean reserve and float and also know the best method to use when accumulating Bitcoin as a newbie in order to avoid much mistake in your in your Bitcoin investment journey.
Even in business if you don't have any basis knowledge concerning the business you want to venture into you will definitely have a run down because you don't have any basis knowledge how the business works so I believe having basis knowledge in what so ever thing you want to do is very important. For I have seen someone that failed in business because he saw others doing well in and he decided to venture into such business without even having any basis knowledge about the business at the end the business collapse due to zero knowledge concerning such business.

Your first post in the forum happens to be in this discussion. Its not about jumping into a dialogue, perhaps if you have read through the thread you should have learnt that there is no point identifying the dip due to the price fluctuation. Going through your investment with DCA makes an investor not to think about timing the market because one could possibly not be able to buy if the dip do not come. Just like when we see a price increase at times so we may see price decrease. So we should be happy when the price dips and it shouldn't stop us form buying regularly through our preferred strategy. Buying the dip should be an extra strategy that would help facilitate the investment goal.

A newbie does not need to know much on bitcoin before he can invest, if not he will waste his time learning and learning instead of getting started immediately. I believe that one of the basic knowledge of bitcoin is that you should invest in long-term  only your discretionary income and should know the type of wallet that he needs to use to store his bitcoin which is a cold storage open source wallet and how to buy bitcoin with fiat. I believe that alone is cool for a beginner to start investing. He can learn whatever he needs to know along the line as he is investing.

For any new beginner that already understands or do practice financial management which find it easy to start investing without a problem, especially people that are already used to saving some part of their monthly or weekly income in the bank  over a long period of time base on what they want to use the money to achieve in future. Bitcoin investment is better learnt by experience in the market, because no one will teach you how to control your emotions when there is a price fluctuation, or the price dips. I will advice a new investor to invest first with part of his discretionary and learn at the same time on any part of bitcoin that he loves to know.

Some people will not learn until they have involved in that investment because they want to know more about what they are investing in. Bitcoin knowledge is very broad and the price of bitcoin keeps increasing in value which makes it better to invest first and learn along the road of building your investment to take advantage of the current price of bitcoin. It is good that as a beginner in your bitcoin journey, you should use a small about for your regular DCA for maybe 1-2 years and when you have the confidence and believe in bitcoin base on what you have learnt along the line, you can then increase the amount that you are using to DCA.

Welcome to the thread but I think you started off from a wrong foot, 95% of us knows this already and what you should have done is introduced yourself and tell us If you have already started accumulating bitcoin or not, the most important thing right now is not really about how much you know but how much Bitcoin you have accumulated and how long you have been in.

Anyway your right about buying if it's used as an only strategy, but it can be used as a supplementary strategy to take advantage to accumulate more bitcoin so you and really have to wait for dips is your are using the DCA method.

You wouldn't even say such word of being stupid to learn when the price of bitcoin is appreciating. Despite anything there is surely a need to learn before investing in bitcoin, just that you will only need to quick up the process by not over learning and not taken a bold step. There is a different between fast and slow learning process, some people may be fast to learn and start investing, but some people are dem too lazy to learn even the simplest thing, and may lost a reasonable amount why trying to invest. so in as much as we are trying to invest in bitcoin, we should start investing at the appropriate time when our brain is set to understand properly, hence no time is too late to invest because you might even delay to learn and Invest when the market is dip and you be advantaged over the early people that invested before you. so what am saying in essence is that investment shouldn't be in a hurry but should be done when a person is mentally and physically matured and knowledgeable and also stand a chance to bear the risk and HODL for a longer time. and also having a regular inflow of cash in his reserved, otherwise they might make a silly mistake and see bitcoin as being scam

Yes learning is a continuous process that we will get to know more as time goes on down to infinity, but I still maintain my stand that we shouldn't over look the beginning, because the beginning is the most difficult part of a new journey. Your positive and negative feelings is developed from the beginning. Some people who didn't do well in bitcoin investment was as a result of not well knowledgeable about bitcoin and what bitcoin entails, they rushed to invest Thinking it's a get rich quick scheme and after they invested and it didn't work that way they God disappointed and start looking for cheap shitcoin hoping for greater return as a form of short wealth expecially the newbies. So they need to be thought properly so that they will not rush in and rush out so quickly and see bitcoin as a slow way of achieving there goal.

What I'm wondering is who you are suggesting this to, because I don't think @JayJuanGee knows about it, and neither does @rachael9385. I am quite sure that these two people must already know very well about Bitcoin and are also very solid in their knowledge of Bitcoin so that it will not be so difficult for them to make an investment in Bitcoin because they definitely know how to use funds for Bitcoin. Moreover, if the reserve funds you are referring to can only be relied on for three months, at least it will not be enough for investors who have the aim of long-term investment in Bitcoin.

Because for an investor who has a strong desire to be able to invest in Bitcoin, he will definitely look for a way to do this without interfering with his own activities in life. Because this difficulty usually occurs for those who are lazy and don't want to look for ways to invest in Bitcoin or for those who still don't believe in Bitcoin at this time and forever.

Well said. Seeking much information at times can be misleading, what I prioritize is, all newbie should have knowledge about money management and what investing in an asset really is especially Bitcoin Market, choosing a strategy that they can abide by with a plan, you're set to go. As you said, having a long term view of the market and holding for at least one cycle 4-10 years this won't only help in the accumulation journey but also helping them see how far they went with there plan, strategy and challenges face with a new alternative to improve on the situation. The market is unique with opportunities everyday.