Topic: Buy the DIP, and HODL! - page 451. (Read 123222 times)

It all depends on where an investor keeps his hard-earned money. I think people who will pay attention to this thread and try to understand how important it is to invest in Bitcoin, how safe it is, where it can go in the future, why we should invest in Bitcoin, how we can grow our holdings through DCA and acquire a reliable knowledge on the whole thing which will be able to secure his future.

I encourage some of my friends to invest long-term in addition to just raising awareness about Bitcoin. It also gives an idea of how profitable investing in Bitcoin can be over the long term rather than keeping money in traditional banking systems. Not everyone there supports me but I managed to convince some of them.

I wouldn't call it a "gambling fund", but the farther away Bitcoin goes from the "discount phase" it's probably better to start lowering the DCA bids, and save that money in a "buy at discount fund". I don't know why I'm not as euphoric as everyone else with the current price movement, because in the current macro-economic environment, we're at high interest rates and under a tight monetary policy which may not change soon. Does everyone actually believe Bitcoin will never go down again?

BUT I read this blog, https://willowdaleequity.com/blog/what-assets-do-well-in-stagflation/

In a Staflationary environment, it's probably the best decision to buy more Bitcoin?

I started out with $10 per week as an example because a lot of people can probably do $10 a week without even having to know very much about their own finances... and sure there are some members who either hardly have any income or they are living in a very low income location (or they might be a student), so even $10 per week might be a struggle for them, so they have to tailor to their own situation, even though $10 per week could still serve as kind of a aspirational starting point..

I am not really against the idea of having a separate gambling fund, but yeah, sure one of the problems with the gambling mentality tends to be inabilities to control yourself from tapping into funds that should be kept separately.. and then your little build up of weekly bitcoin DCA ends up getting used a a "temporary measure" blah blah blah.. but then pretty soon you lost all of the funds that you had built up.

One of the better things would be to learn from that kind of lesson in order to contribute to your own improved disciplinary boundaries.. and perhaps even coming to learn that gambling is not a very good mentality and/or practice, even if you might have had some periods in which you had been lucky in the past.

There are always going to be people who are more willing to take risks and others who are more risk averse, and that's o.k that each of us is not going to end up taking the same approach, and we should be attempting to tailor to our own personalities to the extent that we might also be attempting to identify if there might be some habits or personality traits that we might need to temper or to bring under better control in order to improve our habits rather than getting sucked into losing behaviors.. but if we can moderate or modify our behaviors, we might still be able to be a bit more risk taking, without necessarily ending up devolving into betting too much or betting all of our stash when we need to be mostly preserving our principle when possible and feasible... that way our future self will like us a whole lot more if we have options rather than having to start over several times and then ending up never really getting anywhere in terms fo the building of our wealth.


I just feel that sometimes it does not hurt to throw in the little disclaimer in regards to each of us needing to be responsible for our own decisions regarding whether or not to invest into bitcoin, how we go about it and how much... including that if we do not invest into bitcoin, then that also will have consequences that might not exactly be good for your financial/psychological health, but each of us is going to have to make those kinds of choices and then live with the consequences.

Like I always say Bitcoin investment is not a get rich quick scheme. BTC investment is always on purpose and a targeted strategy. you said we can never be rich by investing in just $1k- $10k. I disagree with that, because of time factor. If this same amount of dollar was invested earlier 2012 - 2013 you wouldn't be saying this right now. That why we always preach about Bitcoin accumulation on daily basis because history  will repeat itself. The $1k-$10k dollar you have today might be a history in the next 10years coming. Who knows if in ten to15 years from now wat the price will be it might end up becoming $1million.

The problem people are having is that they don't have plans for Bitcoin. It's easy to say Dan done. People always make different Post on daily basis concerning BTC accumulation,DCA and buy in the dip. But very relautant in working on it. If you investigate many people here you'll see that non is practicing all this. what dey are concerned is to get paid through signature campegn. which solve there immediate wants forgetting that signature campegn helps you to accumulate more BTC to your potfolio.

The goal is to accumulate for the future because opportunity they said comes but once. If Bitcoin sky rocket, it will never come back to where you can afford rather you still put more effort in buying, where as you had the opportunity to buy when it's dip.

I know it is as too small to begin But this is me that you mentioned mate, Yeah I started purchasing 10 dollars worth of Bitcoin back in mid of 2017 , and added a increasing amount each week.

but with wrong decisions in life, I got involved in gambling and ending losing all my investments in 2018 and yes , I truly regret those decisions.
But from there of mistake ,Now I can proudly say that I can feel the success in the net bull run.

Hope he will not act like that lol.. 

but for me , as I keep reading most of your post and still learning more each day , thank you for being so active specially for Bitcoin .

Truly Bitcoin has proven to be the best investment, gone are days when people were not sure and skeptical about Bitcoin and by then people had the opportunity to utilize it by buying even as little as they could but they were not sure of what will become Bitcoin in the future and now they are full of regret because they realized how potential Bitcoin is now because they have seen that the roadmap is very clear and transparent with a good potentials, the only way to fully enjoy investing on Bitcoin is by holding because as an investor our goal is to invest knowing the potential of what we are investing on and with confidend that it will yeld profits in the future, perhaps I view short traders as people who doesn't really no what is installed for Bitcoin in the future.

also there has been so many speculation about what the price of Bitcoin will be in a month or years, as an investor that knows what Bitcoin is all about shouldn't pay attention to price movement or speculation were as it could affect or change your perception on accumulating Bitcoin, a friend came to me for investment advice to educate him on a crypto to invest, I told him the only investment is Bitcoin and nothing else because other coins can fail but Bitcoin will never fail and as the matter of fact the growth of other coins depend on Bitcoin and that Bitcoin is not a get rich scheme were he will invest and expect a big return tomorrow, on the contrary you tend to enjoy Bitcoin if hold for long that's when you could see Bitcoin unveiling all it potentials.

With the level of sophistication trading as an activity has attained, it would take someone who is truly desperate, uninformed and not within his focal thoughts to want to trade, hope to earn and not have any theoretical as well as the practical knowledge on how bitcoin trading works.
Like, it’s a gaining field where experience plays around with money and here is someone with hopes to make money but yet have no knowledge on it. That’s surely a dumb move.
Even trying to start up a business especially in a niche that already exists or even, business as a whole, you need expert advice on how the business environment works.

With what’s been the case in the cryptospace about bitcoin, it’s so easy to advice someone not to be too scared on a bitcoin investment. What needs to be gotten right is the means to purchase, storage media and the individual having to get his or her purpose for buying just right.
Bitcoin have proven in over 13years to be the only cryptocurrency with an assistance on it for its investors and this is what many bank on, it’s true decentralized nature and all as an investment for a long term to guarantee profit. Even still, your better holding than selling as, it’s just a decade on it. What will the next decade and the one after that hold for the currency.

That's a good idea but for now maybe I'm just going with the flow although in the end we will definitely discuss little by little the views or strategies carried out including our personal strategies as the discussion progresses.
Btw I don't think so because in the end even though sometimes I have to read several times your very long writing but I don't feel hateful about your story. In fact, this is a good thing to compare how to invest because in my opinion you are one of the many people who do have a pretty good strategy with the investments made and I am also still an avid reader of your thread here https://bitcointalksearch.org/topic/m.58719584 even though I never follow the discussion there.

for shitcoin it is out of context so it is quite reasonable if we put it aside because in the end it is not an investment but gambling in the hope that luck comes over us.

Try not to set your supposed knowledge barriers too high.

Get  the fuck started and figure it out.

If you are not sure about it, then start with buying $10 per week of bitcoin and get your shit together, figure out your finances and your psychology and if you got it mostly figured out, then based on your ongoing learnings you can tweak your strategy including possibly increasing your weekly buy amounts or whatever combination of BTC accumulation strategies that might also involve buying on dips, and holding during times that you don't feel that you have enough money... and sure make sure that you have your emergency fund in place too.
 
Once you get to a sufficient level of BTC (that is suitable to your own circumstances) then at that point you can slow down in your BTC accumulation and likely verify you have created more options for yourself by buying and accumulating BTC rather than becoming overly worried that you don't know enough about it.

You will thank me later, and remember you are responsible for your own actions whether you choose or not to get into BTC and how you go about it, and if you end up screwing up in the way that you buy BTC or your choices not to buy BTC,  then that's all on you.  

Don't come crying to me and saying that I told you want to do, even though I did tell you to get the fuck started with your BTC accumulation strategy rather than sitting back and claiming (or is it whining?) that you need to know more...blah blah blah..

Of course, I agree with what you said, DCA requires us to divide the budget we have or the point that we are ready to allocate to bitcoin itself. And well for myself maybe I will divide my budget into several parts with the same amount every time I want to allocate, whether it's once a week or maybe once a month, nothing else for me is indeed a safer way and to reduce the risk of fluctuations that occur, and also of course I will continue to do it with the same amount so that the price - the average - that I take can be more stable.

Honestly for the problem of investment goals I think it depends on the perception of each person who comes, I can't manage it and for the perception of getting rich in the future I also can't deny this statement because indeed investing especially in bitcoin gives you the opportunity to get to the point you expect but I say this is just an opportunity and will not always be what you expect. By using DCA I understand it is very possible to achieve in the future, but well just agree with you that it is best that we have to think wisely and rationally and also not too much. Putting a bigger budget with the aim of getting rich, well that can be done if your finances support it, but still you have to consider the level of risk too.

Permit to map out the word IGNORANCE, this should be slightly replaced with Stupidity at some point. The fact of hearing about Bitcoin from different medias or from a close relationship should not motivate a person to involve him self where else he/she knows nothing about it. He/She does not know how it operates, How to buy, When to sell and Where to store funds, it is actually going to turn out bad. A well knowledgeable person who is interested to learn and get acquainted with Bitcoin currency should create room for proper understanding before diving into trading or doing Bitcoin.

For sure you seem to be talking about position size, and so many people seem to wrongly conclude that since bitcoin is such a great assymetric bet to the upside, then therefore there is a need for them to bet BIG, when actually the opposite is true. 

What asymmetric bet to the upside means is that there is an opportunity for a very BIG payoff, even though the odds are not guaranteed... so if someone invests somewhat aggressively into bitcoin (maybe something like 10%), and so the person who earns $33,333 per year ends up investing around $10k after 3 years, then maybe in 10 years, they could have lost all of the $10k, but on the other hand maybe they end up getting 10x, 20x, 100x or even more.... so surely the higher the returns that we believe that we might get result in lower probabilities that they will happen, but with bitcoin we can already see the possibility that its prices could end up getting those kinds of returns, so that even relatively modest investments will end up having disproportionate returns...

Another thing that we should attempt to learn from the idea of asymmetric bet is that we should want to make sure that we stay in the game rather than fucking around and then losing large portions of our bitcoin or even all of it, which is part of the reason why we should not be trying to be too greedy in terms of both our level of aggressiveness in our ongoing buying or even in the ways that we try to play our practices of the buying on dips... 10, 20 or 30 years down the road (whatever our investment timeline happens to be), we should still want to be in the game and even to have a decent amount of bitcoin that might not seem like a lot of bitcoin right now, but still every satoshi might end up adding up to good value in the future that ends up giving us more options in the future than we would have had if we had not invested into bitcoin.. or alternatively if we had invested into bitcoin, but we got to be too smart for our own good and we end up selling too many too soon or we end up losing them through our various ways of engaging in too much risk either due to greed or sloppiness.


I agree with your overall idea @Falconer that it likely is not a good idea to just make a relatively modest lump sum investment and then to just sit on it without doing anything further, yet if your investment timeline is long enough, that "$1k to $10k today" could end up providing for a lot of options in 10 years, 20 years, 30 years or longer...

So getting rich is somewhat relative.. and sure if you are wanting to get to fuck you status, then how much value that you need to invest might vary by region...

I personally agree with the idea of an ongoing BTC accumulation practices that more likely allows you to continue to build the quantity of BTC that you have..so even if you make some kind of a lump sum in the beginning, you are engaging in some kind of a regular BTC purchasing, which might even be strategized to be done every so often that is infrequent and also maybe trying to capture dips within reasonable periods of just ongoing accumulation even if that is not every month but every quarter or twice a year... but then if you try to space out your buys too much then you may well end up running the risk of buying at way higher prices merely due to the fact that you were waiting for dips that did not end up happening.


You write like a gambler and a trader rather than like a stacker and an investor.. .. but whatever, you do you.

One of the best things to do is to error on the side of ongonig accumulation through buying and if you want to end up trying to sell some BTC so you can buy back later, then be careful in going down that path because it likely takes you out of buying mode and likely ends up causing too much paralysis rather than ongoing buying action... which is the better way to build the size of your BTC stack/stash.

of course right, even though he sold some of it at a lower price it is not wrong, if there is a loss that befalls him as long as it is not big why not? and don't forget to consider the decisions he will choose, because he himself will certainly face everything for the choices he chooses for the future, buying or selling BTC is one way to face the future but it is inseparable from the market price, so be smart in choosing or making decisions so that there will be no big losses that will befall him, everyone doesn't want the name of a loss, but indeed the risk is definitely there in any case and ready or not ready, whether we want it or not, we ourselves will make the decision that will produce good or bad results.

don't hesitate to make decisions if you are sure of what you think then do it, don't think you will lose and then fail in something, being brave in making decisions and taking risks is not wrong but it's a great thing because of that.

I'm not sure whether you really understand the DCA strategy well or not. But be aware, DCA is a strategy that requires you to divide your investment budget into several parts; for example into 3 parts. It's up to you whether you want to use 50% of your budget on your first purchase and use the other 25% on your second and third purchases, meaning you can still adjust it yourself.

The best investment goal to consider is not getting rich. However, you have to think wisely about what your main purpose of investing is, for example as a provision for life in old age or for your child's education costs for the next 10 or 15 years. We will never get rich just by investing $1k to $10k today, but if you want to be rich then invest more. But it is good if you have a wiser plan about what your investment goals in bitcoin are instead of getting rich.

Knowledge is important, but we should also keep in mind that in practice it might be a little different. For example, we have the knowledge that by holding bitcoin it will make our future brighter, but holding can be that easy? of course not, I mean when we are dealing with bearish market conditions for example, sometimes knowledge and panic will collide there, on the one hand we know that we have to stay afloat, on the other hand there is panic seeing the market which will eventually shake us a little. I am talking like this based on my experience when I was still early in the bitcoin space, but slowly I was able to get rid of that panic and now I am more calm even though the market may not be friendly. Instead, I am now thinking how to take advantage of the unfriendly market.

I have a "BTC investment ideas thread" that largely outlines aspects of my bitcoin investment journey, and of course from time to time, I will talk about some other angles when it seems that there might be some necessity to make some comparisons and contrasts.... Surely with many of the longer time bitcoiners, we sometimes will stray away from too many personal details, speak in terms of hypotheticals and maybe even throw out some pieces of information that may well end up being on a fictional character that may or may not exist inside of any real world.


I frequently will provide a contradictory message in terms of telling people to both stay the fuck away from shitcoins, while at the same time acknowledging that they can do whatever they like.   So anyone getting involved in shitcoin better at least be reminded that they need to be skeptical of those various projects and presume them to largely be wanting to take their coins, so in that regard, there needs to be ongoing concerns about both position size (how much you going to risk on being rug pulled), and attempting to reasonably time an in and out. because frequently the rug pulls or the drying up of liquidity will happen quickly and at a time that might not necessarily allow any kind of ability to get rid of the coin in order to save the guy/gal investing into such risky gambling crap.


There is no rush to get into bitcoin because anyone is going to be able to get into bitcoin, whether now or whether at some later time, and surely one of the advantages of getting in earlier is that you are both likely to be able to buy more bitcoin for fewer dollars and you are also going to have the advantage of being able to continuously be buying in such a way that you might not notice it so much (or to have pressure) like you might have if you were going to be having to invest into bitcoin in a lump sum...

So for example, even if a person got into bitcoin 3 years ago, and ended up buying $100 per week, spending $15,700 on their bitcoin investment while having an average cost of a $27,200 per bitcoin, then maybe s/he was able to accumulate 0.6 BTC during that time, that person is likely in way better position than someone of a similar economic status coming to bitcoin right now and trying to figure out how to get a hold of $15,700 to buy the same amount of bitcoin.

In other words, it can be quite difficult to lump sum into any investment, whether bitcoin or any other investment.. including a likely reality that those lump sums are not available to an overwhelming majority of people and also showing that time in the market tends to work out way better than trying to time the market.


I should have put a link in my above example of $10 per week from April 2016 to present that you are citing  (here it is).. and you surely seem to have had been able to relate to real facts that maybe a bit of a more consistent approach in terms of ongoingly accumulating bitcoin and maybe even attempting to be a bit aggressive about it without going overboard will end up contributing to a psychology in which you are mostly accumulating BTC and not fucking around with selling, even if you might get some short term pleasures from the profits that come from the short-term sales.... and even some of the longer term BTC holders get nervous about selling too much BTC too soon.. so frequently will hold through the first couple of cycles, even though it can be quite painful when big drops happen.. and it is hard to know when they are going to happen or how much and so trying to figure out various selling points is even more risky for bitcoiners who consider themselves to be in earlier parts of their BTC accumulation stage.


I do agree with your overall point that it risky to be making any kinds of BIG moves, and any kind of strategy that it is taken should overall be focused on BTC accumulation.. including selling is not even as close to as good as buying when a person has BTC accumulation goals... nonetheless there are still ways to make overall strategies to manage BTC portfolios that involve selling.. but my own position remains that it is not good to start to employ those kinds of strategies until you have reached a decently high BTC accumulation level (relative to your overall wealth.. and you can project out reasonable and prudent ways to deal with BTC price moves that fit your own personal financial and psychological situation).

I think we don't really disagree too much, and  it also seems that I have already given several examples (even in this thread) to make this point -  and it is not exactly on topic, so for now, I will hold back from providing another example in this direction.

Any trading requires knowledge, so here if we want to invest in Bitcoin, we must gather our knowledge in different ways. Because according to DCA strategy we need to invest Bitcoin once every week or once a month according to our source of income. And not every time a small amount of assets from an exchange can be stored in one's wallet, a small amount of assets per week or month for a long time can be hundreds of dollars. Big sellers may not contact you as per regular DCA strategy (since you are a small investor) in which case you will have to wait for a long time and turn several hundreds of dollars. This way you can own a large amount of wealth at one time but have to invest regularly.

Yeah you are right knowledge is very essential at least every trader needs the theoretical or pratical understanding about trading before venturing into, but in most cases people disregard knowledge because of greed which always turns out bad, but to evaluation victims, is mostly the beginners that always fall victim because of ignorance, every successful traders undergone processes of learning and acquiring knowledge to no the concept, Technical and fundamental analysis of the market before going in to trade, and perhaps knowledge doesn't only required on trading but on our daily life's we need knowledge for business, accumulation and holding in fact in all our day to day activities.

I understand your point completely and yes, you are right. Nevertheless, what I gave was an assumption... from experience, those who buy low to sell high usually do not necessarily wait for the peak but do sell as soon as they see considerable profits. So, I doubt they could be so patient and organized to buy at $12k and sell at $60k. The chances of this happening is very slim because no one would be able to know for certain that Bitcoin will go as high as $60k before the present retracing.

Looking at historic data and considering that market have this way of testing our psychology, it is most likely that they bought and sold at prices we are not even capturing. To be specific, Bitcoin made a high of $19,891 in 2017 before retracing to around $3,200 in January 2019. It rallied to around $12k in April 2019, so anyone who bought low would have targeted the previous ATH of 2017. This means those that bought around $12k would have sold around December 2020 when Bitcoin smashed the high of 2017 to hit around $29k before 2020 ended. From this point onward, Bitcoin never experienced any huge dip and this means that those who buy low to sell high might have missed the bull run of 2021 and even if they managed to jump in after selling their previous stash for profits, they most likely bought above $29k.

The point I am making is that even though this patter appear attractive to some people, it might make someone miss wonderful opportunity such as buying around $3200 and riding the wave of 2021. This kinds of HODL is only possible for long term holders and not those with the mindset of buy low and sell high.... the high might not really be the true high.