Topic: Buy the DIP, and HODL! - page 479. (Read 136095 times)

someone that doesn't have an investment mindset will always find excuses to give to support his belief. Your mentality plays a great role in determining the kind of decision we make, while some can decide to invest like 20% of a months salary and hodl and just forget that such amount ever enters there hands others will be considering the immediate thing they can do with such amount. If in the long run, they investment pays off, the later regrets his inaction while if it doesn't pay off, since you've already counted that money as gone you won't feel that bad. That's the reason we are advised to invest with an amount we can afford to loose without any serious effect on us.

Everyone certainly thinks about their future, so they will of course invest in their future. I agree with you that if we currently hold fiat money, we certainly cannot guarantee that inflation will occur, so it would be better for us to choose to invest in Bitcoin. Using the DCA strategy in collecting Bitcoin can indeed help those of us who have a small income so that we can set aside some of the income we have to invest in Bitcoin consistently and I am sure we can make a profit with the strategy we use.

There is always a sacrifice that must be made when doing something, especially what we are doing here is for our more secure future. I think it is something that is worth sacrificing when we leave the fun for today by diverting it to invest and do DCA every week.
What I feel when we are already happy and used to doing this is thinking how to continue doing DCA and increase the amount, one of the things I am doing now is looking for extra money, and I do anything as long as it does not harm others and the money I get from the right way.

someone who wants to invest in bitcoin but has limited capital can try the DCA method where they can invest consistently and don't need to think about trading strategies or other complicated things. with as little as 2-3 dollars a week or 10 dollars a month, which is quite small money, it can be a very large investment if consistently over the next years. and i have applied this method for the past few months and i think it is quite worth it because i only need to reduce my allowance and allocate it to bitcoin investments consistently and plan to hold it for the next few years.

This is the most significant part of all discussion. Saving to enjoy in old age, because It will serve as a retirement savings. For someone to achieve this goal it will require practically executing your plan step by step. Just like what @jay juanji said. I think we all have lernt more from other fellow here.

Although in this aspect of Bitcoin hype to make the demand high and expensive, I think bitcoin hype does not make it  expensive. I think the value of bitcoin is not determined by this factor. But the quality and scarcity and upon all. It's built on a solid blocking which can not fall like shitcoins. Many coin that got hyped are no were to be found today.

If they have a plan to get decent returns in their old age, then actually accumulating is a wise choice. We all have plans and desires to improve our financial condition, in fact we always try and hope to be able to enjoy it in old age. However, some mistakes that ruin this plan must be avoided because whoever they are, they need to be vigilant in placing these investments safely.

Hype can increase demand for bitcoin which in turn can make its value more expensive. Whoever they are, they must stick to their plan by not selling anything if it is a long-term investment. However, I also do not deny that some of us are investors or holders who are unable to avoid selling when a new ATH appears.

It is true that by following your wise advice, if someone invests any amount in Bitcoin that he/she can afford, even as low as $10 on regular basis, can potentially have positive impact on financial future transform the financial future, if done consistently overtime. By waiting Bitcoin to reach a significant value such as, 0.5 to 1 Million dollars, which is attainable in the next decade due to scarcity resulting from halving events, and increasing demand from major financial institutions. These factors are likely to act as catalysts for growth of Bitcoin market in the coming years.

A man must have a future, so he must participate in investments thinking about the future. Because my country is dealing with a lot of economic conditions (all countries are suffering from economic problems all over the world) the bank money is being taken over by the government. Currently holding fiat currencies is not safe at all, so investing in bitcoins is a must. Investing in Bitcoin is of course the claimant to the property itself. And those who do not have savings, it is better to invest 10% to 15% of their monthly income in DCA method according to their monthly or weekly income. Because investing in Bitcoin will definitely increase your wealth, it is more profitable to invest than to keep your savings.

There are a variety of factors that could end up causing a person's cashflow versus expenses to become more complicated and either to fluctuate a lot or to have a lot of burdens, and family is one of the common ones, owning a business could be another in which the inflow and outflow of income and expenses vary a lot, another could be someone who has seasonal work or even some kinds of difficulties securing employment (or the kind of employment is somewhat erratic), surely students could also be in a position in which they have higher expectations of future income but not very good current income, and for sure poor people might not even have much if any discretionary income, so investing into bitcoin could be complicated if they believe that they are not able to increase their income and could either have handicaps or geographical issues, but then sometimes increasing skills may or may not help if there are jurisdictional issues.  

Each person should try to work with they got. and surely some of us might consider that there might be ways to improve your income, but you might well not be able to increase income right away without learning some employable skills and be physically capable of carrying out such skills or be able to get placed into such positions in which your income might go up...  Percentage does not exactly tell us a lot about what might be reasonable for a person -


....but it still can be a framework that could help in the setting of goals and/or targets that might be somewhat grounded with ways of figuring out what some of the tradeoffs might be and some of the advantages that might come from being able to create a sustainable higher percentage level of investment, then it becomes more likely that a person might be able to reach some measurable goals of wanting to get to 1 years income in 3 years (with 33% investment) or to achieve 1 years income in 10 years with 10% investment, but then there are also going to be some things to account in terms of whether your income will be something that you consider as a fair target, because some folks figure that they want to increase their own status, so maybe they would like to have 3x to 5x higher consumption levels, so then they would need to account for the costs of increasing their investment size to such a status that they are able to attempt to be realistic in what they are trying to achieve, how long it might take to get their and trying NOT to engage in unnecessary risks merely because you feel that you are in a rush.. because that just ends up leading to gambling, even if it might be reasonable that any person may want to increase his/her standard of living, such person still needs to be reasonable in how to achieve it in such way that is not necessarily putting too much of his/her principle at risk during the process (a principle that is continuing to grow, hopefully)..


That is exactly correct.. in that bitcoin such an asymmetric bet (to the upside), so there should be no reason that any of us should be killing ourselves to stretch the amount that we invest into BTC beyond an amount that would be reasonable for our circumstances, because we are surely going to be worse off if we end up fucking up our investment because we over did it and we should have had attempted to be more modest and staying within our means.. and surely some folks are in better positions to take greater risks, but they still have to be careful about both going overboard or developing a false sense of security based on their having had had historical success with their system, if their system is overdoing it, then it could just be a matter of time that they end up getting themselves into a bad situation if they are not sufficiently and adequately protecting themselves.


I personally don't like the idea of transferring bitcoin so frequently, so surely the fees are going to vary depending on how they are gotten, and it may be the case that you can leave up to a certain amount of value, even $500 or so before transferring the value.  Of course sometimes in the beginning, you may well want to make sure that you are holding some of your own value i your own wallet, and so part of the BIGGER dilemma could be for the newer person, and so if there might be a person who is ONLY able to invest $10 to $30 per week, then that still would add up to something like $520 to $1,560 after a year of investing, and surely there could be some  kind of intermediary stage in which the person would want to transfer the value, and surely after 3-4 years investing the amounts could end up being $1,560 to $6,240, and so once a person starts to reach those higher levels of holding BTC in private wallets, then there may well be less urgency to feeling needs to be transferring all of the time but rather maybe every $500 to $1k more accumulated, then the amount gets transfered, and some custodians have a longer track record (with fewer issues) than others, so each person has to figure out how to make these judgements including figuring out if there might be better ways (sources) to acquire bitcoin.


We also know that there is risk to be holding very much of our value in those kinds of accounts that are luring clients by offering various rewards.  Bitcoin is already designed to not need rewards, so if third parties are luring clients by engaging in such practices, that might mean that they are fucking around with your coins in order to be able to earn that amount and it might not be legitimate ways of fucking around.. and many people got burned by those products in recent times, so be careful when exchanges and/or other third parties are dangling out rewards for them to be able to hold your BTC.


If anyone is investing regularly in bitcoin, even if it is ONLY $10 per week, they may well be taking from money that they might otherwise spend on fun, food and/or entertainment, so I would not necessarily agree that the BTC accumulator/investor is not going to be negatively affected by his/her dedicating value into BTC, but there is some potential for deferred gratification, and so the idea is just not be drawing from funds that are needed for basic living expenses (and even from emergency funds) but the could still end up causing less fun and enjoyment to be had in the presence with the hope of greater gratification (and options) at some point later down the road, whether that is 4-10 years or maybe even quite a bit longer  before the additional options are starting to be seen and appreciated and maybe even being able to start to draw upon some of the additional options that start to materialize later down the road (and not even guaranteed, either).


That is a strange response @ Pi-network314159 - because even if Greyhats might be doing some things wrong and/or might be doing some things differently from what other forum members might decide to do, Greyhats seems to have some pretty decent ideas regarding ways to both particularize his ways of investing to himself and also to periodically review his strategies and even being critical of himself in terms of appreciating that his numbers might not even be exactly right for his own personal situation, so he is acknowledging some areas in which he senses that he is taking some additional risks, including allocating a bit higher on bitcoin. which may or may not be the best of choices... but that still remains his call and seems somewhat reasonable to me, even if I might not make it in the same way that he chose to make it.

I think what jay juanji is trying to explain has been fully emphasized hear already. If you read what is in this article you will understand every bit of it. I don't think If more explanation is needed, no need for too much repetition.

If you read what JJG has said, then it's not compelling you to invest 30% or even 20%. Depending on how big some people's salaries can be, even 10% of their salary is a reasonable sum of money that they can either save to invest or invest directly. In Bitcoin, one can invest any amount, even if it's $1. Currently, the Bitcoin transaction fee is as low as $0.2, so even if you see someone that you can buy Bitcoin directly from them via p2p, let's say you buy $2 worth of Bitcoin and you cover the fee for yourself, you will get $1.8 in Bitcoin. If you are accumulating like that on a daily basis, before you know it, you can even attain up to $12 in a week ($24 in two weeks and $48 in one month). So, do it in a way that doesn't affect you; just get a simple strategy that will not put you under pressure.

Ok, let me give an example of some experiences I had some days ago. There's this banking app I use, and with the bank, I have two accounts that are longed in on my phone. I am operating the two accounts at once for business and personal use. On that app, there's a savings plan named "Save as You ear/spend." When I noticed it, I decided to activate it on the two accounts. On the first account, I activated it to save $0.1 on every transaction carried out on that account; on the second account, I activated it to save $0.05 on every transaction carried out on that account. I did this some months ago, and then I even forgot I did set up something like that; it was just some days ago. I was thinking of how I could get some money to solve a pressing need, so I remembered I had a mini savings plan I initiated some months ago, so I tracked it and discovered I had about $168.1 in that account. Within that interval of months, I have done more than 1,000 transactions on those two accounts, and I don't quite notice or get affected by the small fraction that keeps entering my savings every time I spend. 'Cut story short, that money saved that day. This is not a fabricated story; it is what I experienced.

So, the point I am trying to make here is that you can derive a strategy for investing in a way that will not affect you. If you always look at your responsibility all the time, then you will end up not saving or even investing, and yet the responsibility will not cease to exist; you just need to learn how to discipline yourself to either invest gradually or save little by little to invest.

It all depends on yourself and I don't think it's necessary to feel that your country alone has problems in the economy because for now almost all countries feel the same way but that's not the point, I think the point that needs to be emphasized in the current conditions is how you manage your money because in the end the current benchmark is not to the country but to yourself who must survive with all the circumstances  that occur.
As long as you believe and want to invest in bitcoin then you definitely know what you will do. 30 percent of income if it feels too big then you can reduce it to 20% or 10% according to your own strength.
Many here are married but in the end they can still do DCA consistently. This indicates that belief can make us think more broadly and not only fixated on economic conditions because in the end when good management is done and you know how much income and expense from your income actually it can be a gap to make some changes if you want to invest and it depends on yourself whether you want or not to invest.

Yeah that is true but however it all totally depends on the investors capital so in as much as 30% weekly accumulation is very hard but there are people who could actually find it very easy to accumulate with such percentage on weekly basis.

So however that's why is always advice able as an investor to avoid what they called fear of losing out from the market because this is one of the major factor that propels most people mindset to rush into accumulating Bitcoin using a higher percentage of there capital with the fear that if they did not accumulate a huge amount of Bitcoin they may not have the opportunity again.

Your country does not matter. You have to consider your own particular circumstances... sure there might be some difficulties in upgrading your income, but still the percentages depend upon your own situation and how well you are able to make sure that you are investing enough without over doing it.. . and like other members mentioned, there might be some months in which you are only able to do 5% and other months in which you can do more than 20%, and there might even be strategies that you employ that allow you to attempt to be creative and even to plan things out like greyhats mentioned above the use of Excel and/or google spreadsheets to really attempt to be granular in regards to what you are doing, if you believe that it might be more helpful than sometimes figuring out ways to increase your cashflow by a bit more or reducing your expenses or other things like that.

Although it sound interesting but hard to achieve that amount of %30 on regular basis expecialy on DCA strategy. Considering the responsibilities in the family. for example a country like mine, if you continue like this you will put yourself in financial jopady. For me I think %20 will be good to go. but if one can develop and nuture that characteristics, I think it will go a long way if there are other means of lively hood.

I think that part of the calculation should be that if someone is able to save/invest 33% of his/her income on an ongoing basis then after 3 years, that savings/investment would have amounted to approximately 1 year's salary.. yet still another question remains whether the investment/savings is performing sufficiently well in light of the cost of living changes, and surely with bitcoin we have a decent amount of confidence that it will perform quite well relative to other places in which money/value could be stored.. but at the same time, it still could take several more years to get to something approaching fuck you status.. which is where you could afford to quit your job. .and that would be to get to the point in which your investment is stablely 20 to 30 times the size of your annual income and/or expense needs. 

Getting to higher amounts does seem to provide more options, but surely only if we continue to figure out ways to make sure that we are responsible in the ways that we are growing, preserving, and then perhaps later spending from our investment portfolio  whether that is strickly BTC or if it might evolve into the inclusion of other assets over the years in terms of ways to give us a sufficient level of confidence in regards to when we do start to feel that we can either draw upon the funds for expenses or other ways of maintaining the wealth and making it functional in terms of our own needs  once such wealth is achieved..


You are making some pretty BIG assumptions Winterfrost.  Yeah, sure maybe more people should be able to invest, but they just are not doing it.. and surely they are not even close to 30% so assuming that 30% is reasonable or easy seems to be quite out of touch with what people are actually doing.. which is likely hardly anything, and the more investing savvy are more likely in the 10% arena.  Sure there are outliers who invest higher, but we should not be presuming that outliers are normal.. when normal people don't do that even though maybe they should.. but then we get into mixing the what is with the what should be, which seems to be part of what you are doing in your little Winterfrost fantasy.


I would think that if someone spends 4-10 years investing 30% of his/her income into bitcoin, then they likely would not need to have as much of an emergency fund after getting several years into the investment because the investment can start to serve as the emergency fund...

When anyone is a beginner to investing, they have to make sure that they have an emergency fund, but as a person becomes more and more assets and wealth, they are going to have more and more resources in which to draw upon to address any emergency that might come.. and surely I am not suggesting being sloppy with any kind of financial management, but the fact of the matter is that rich people do not tend to easily get shaken out of their investments, especially if they have spread themselves out a bit (which is diversifying and not necessarily into shitcoin) as their investment portfolio grows...so if a person has been able to invest 6 years at 33% then that person would have 2 years worth of salary and perhaps even 3 years worth of expenses (since they live off of only 70% of their salary) saved up just from the amount put in, and if the investment or parts of it do fairly well, then there could be some bonuses in there, even though we cannot necessarily presume investments will end up outperforming other places that we could have had put our money (including out performing how cost of living goes up), which can frequently be reasons for having financial and psychological cushions in order to better prepare ourselves for a variety of scenarios.


Surely the amount is not going to necessarily be 10% for everyone, but your point still stands about not necessarily realizing the ramifications of your over doing it until some time that you might end up suffering a pretty BIG loss and then maybe not even realizing where you went wrong exactly... so yeah, sometimes there can be advantages to either being extra conservative or just moving up slowly rather than making changes too quickly and then getting yourself into a pickle (financially and/or psychologically) that you had not expected to get into.

Trading is very complicated and if you are a newbie, you would take a very long time to learn everything correctly on trading, because you need to know the fundamental analysis, technical analysis and also know how to read charts with coming up with your own risk management to help you, and it is not still a guarantee that you will not run at loss. All these things that I said will take more than a year and that doesn't mean that you have understand it all.

Trading has a very big risk of you losing your bitcoin, instead of you to be increasing it. Hodli and regular DCA is easy and investment friendly, as long as you venture into a long term investment. I will advised newbies to stay away from trading, because the time that they will use to be learning, they can use that time to invest and increase their bitcoin portfolio easily without much risk. Unlike trading that will expose you to loss and will make you regret your actions later. It is had to time the market nor to predict the price movement of bitcoin, and this is what traders need to know to make profit. Even professionals can tell what will be the next bitcoin price after this.

@lamgoat, don't sound as if trading is easy and it can be misleading too. Bitcoin investment is best achieved when you hodli for 4-10yrs and above with regular DCA and you will never run at loss.

You are right, a person should invest but not with all his money.
 Wise people say invest the amount of money you can afford to lose. The amount of money you can afford to lose means investing with the amount of money that even if it is lost from life, it will not have any negative impact on life.  

Investing 30% of monthly income will be challenging for those whose monthly income is comparatively less. In this case you must have successfully made the point that 10% of everyone's income is enough to invest. If a person earns 200 dollars every month then as 10% his income will be 20 dollars every month, if the same person wants to invest 30% with the same amount of salary then his investment will be 60 dollars at the end of the month. That is, to invest, he has to subtract 60 dollars from 200 dollars and make other calculations with the remaining 140 dollars.

I think everyone should have an investment. You have investment means you are big man because this investment can change the fortune of an investor at any time. Those who can hold their investments for a long time is an industry for that investor and the investor is an artist of that industry. This is why I compared those who invest for a long time to an artist, because just as an artist creates a painting with the touch of cotton, an investor overcomes a thousand obstacles and holds on to his investment even in the midst of market volatility.

As an investor I would always suggest another investor to invest in a long term plan. Long term investment plan is always better for an investor.

Yeah, that's already a lot honestly. But if he can afford that, I'm cheering him up as it's kind of seeing someone doing better in life and that's why there's a reason for them to cheer and be happy for them.

There were moments of my life that I can't even afford at least 5% of my monthly income and tried to get into some level because I want to maximize that time because price of Bitcoin was quite low during that time.

Yup.

As long as his financial status is fine and can afford to do that and instead of doing something with his money to nonsense things, this is way better than of those.

I don't think trading is really that 'very' complicated like you mentioned, what I would say as a novice is, trading needs total submissive attention from you as a trader, particularly when you are still new into the trading platform. However, there are a number of things one will need to learn before jumping into trading. In as much as one is able to pass through that initial rigorous process of learning the intricacies of trading, it becomes more simplified.

Most novice and inexperienced traders prefer to always look for the shortest way into trading thereby creating room for missing gaps of knowledge which only makes them poor traders. Saying that trading is complicated may not be far from the truth, but for traders with interest who are ready to pass through the basic journey to becoming successful traders, it becomes simplified.


Exactly, and I can say that this also correlates more with your above paragraph which advices us to reduce our over ambitious character towards trading. As an investor new in the system, you can still attempt the DCA approach and use it to develop your experience with investing, the more. But always have a balanced judgment on the volatile nature of Bitcoin and make proper research before investing.