Topic: Buy the DIP, and HODL! - page 486. (Read 136036 times)

Do you know what most people who are holding bitcoin are doing or will most probably do? All of them know that they will transfer their private keys to their loved ones when they are near to death but no one will let the keys be transferred ahead of time. Since the death time of everyone is unknown, there may be many who die because of an accident or on the spot death and they would not even get the time to give the private keys to their remaining.

Since bitcoin is very new and only the first generation is using it, so we do not come across such cases but after more than 10 to 20 years, a lot of bitcoins will be lost as the current holders of bitcoin wouldn't be alive and they have not transferred the wealth to their near and dear ones.

There is no doubt that this thread is helping many of us about how to gather Bitcoin. At least now we are fully aware of the consequences of buying Lump sum. The best way is to gather slowly and that can be done using DCA technique.

We are once again at 30k barrier and to my knowledge this is not the first time in this year Bitcoin make it to 30k. The question is those who have bought Bitcoin at DIP, what there strategy should be now (as Bitcoin is slightly bullish)?

Obviously @jay nothing can be done and should be done at this point other than sharing the knowledge. Most people will suffer this as a result of not getting the right information or neglecting instructions. In either way round there must still be those who their investment will be considered as lost Bitcoin but I hope before then this knowledge should be widely spread let it be they suffer as a result of neglegence and not ignorance.

.Yeah, that's true and it's actually one of the few things that is inevitable, whether we like it or not , a certain number of Bitcoin owners are actually going to end up leaving this world with their key remaining unknown to anyone, even their love one, but I feel this is supposed to be a matter of who's going fall under this category, well I know for sure after all this exposure to this much knowledge, I will definitely find a way to let my love ones or even my spouse know about the my holdings or if that's too wild, I think setting up a means of which they can actually get hold of my key and Bitcoin when mr.death eventually comes knocking.



We, as humans living in the world today, are about survival and I think everyone actually strives just to keep to the comfort of themselves and their loved ones financially, so a small fraction of people actually conditioning themselves every now and then to save money is to develop themselves so that they will have a better life for themselve and their family, so leaving the world without actually making plans for your Bitcoin holdings is kind of bizarre I would say, but that's from a personal opinion though but there still the fact still remains that nobody actually plans for anything to happen to them or their Bitcoin.

What are you going to do about it?  Bitcoin is a new kind of an asset class, and a lot of people are going to die with their keys, either due to their neglect, or their not knowing or even their inadequate instructions to heirs.

At the same time, in bitcoin there are options to hold your keys yourselves or to keep them with third parties, so being able to hold your keys yourself can be quite powerful for both yourself and for passing your coins to others whether during your life time or after your death.

I am not going to argue with you about what should be done, because those kinds of arguments hardly make any sense, and people are going to do what they will with the power of bitcoin, and some people will profit stupendously, and others will end up making mistakes that they had not realized to be as BIG of mistakes as they ended up being, and one of those mistakes may well end up being not having adequate systems in place to pass bitcoins along after some kind of a brain damage (or similar incapacity) and/or death.

@Jay you just saying the truth even if it get bitters. I should believe that any Bitcoin accumulated as an investment should have a second owner, generally investments are to be willed out and Bitcoin can not be an exception. Imagine all this years of growing and accumulating Bitcoin then eventually something bad happens, all your efforts is now considered as wastes.
Most persons never knew about this, we keep learning everyday and I believe this thread has taught me a lot

Of course each of us should be attempting to balance both our assets (surely including bitcoin) that we accumulate while we are living with how we might either pass them onto others if we die prematurely or alternatively how to potentially figure out how to build our wealth while we are living and to put some systems into place in order that we are able to get advantages from our wealth while still living

...and surely people are going to employ various different systems and balance their priorities in different kinds of ways, and surely some people run out of their wealth too soon and others maybe do not end up enjoying the wealth while living - whether they end up passing such wealth down might be another potential complication - even while dying with your bitcoins would not necessarily be the end of the world for the bitcoin community generally ends up profiting from lost bitcoins.. kind of the opposite dynamics of the fiat system in which monetary supply tends to devolve into various statuses of degeneracy that robs from people who hold their value in it.

I think JJG is just suggesting what is best to do in terms of guiding us on our Bitcoin journey to make it easy. if somebody want to come along, welcome. If don't want to use the free style of investing, that's no problem for him.


I see there is a lot of confusion and even fear about what Bitcoin will do to Bitcoin. That's right, it can be seen from JJG's dedication, how he describes the steps of trading Bitcoin for profit and he really tells everything, without hiding information or pretending.

This is true for sure. And this group of people will continually regret not participating in acquiring Bitcoin at all because they refused to understand Bitcoin. I don't consider myself to be particularly smart, and most people will agree with me that nobody is accurate in predicting the price of Bitcoin. Without pride we decided to understand how Bitcoin works and discuss it here to gain more knowledge about our little and modest investments. Let those who believe they are wise for not investing in Bitcoin give themselves credit, but when, after all our efforts and holding for a long time, Bitcoin makes us happy, they should not regret it because I won't feel any pity for them.

One thing that will hurt me the most is that I will be considered lucky after everything. I'm literally spending a percentage of my income on Bitcoin while my friends sit and watch, and drink beers. I guess not everyone is willing to invest, no matter how much they earn, especially in Bitcoin. Most people just find Bitcoin quite difficult to learn. The concept of Bitcoin is not hard to understand. Using Bitcoin is not that difficult either. As long as you devote your time to learning, you will definitely know what others know. JJG took his time to explain things more clearly and in detail for everyone here because he has more experience, as well as other experienced members here. I never knew much about DCA until I stumbled upon this thread. Now, I am enjoying my accumulation while learning more ways to accumulate safely.

Honestly this thread has really been of a great help to us especially on my Bitcoin investment journey, however just like they said information is power before I came here I had no good strategy on accumulating Bitcoin and I had no knowledge about DCA and the only strategy that comes to my mind then is Lump sum and it affected my Bitcoin accumulation because I used all I had that time to buy Bitcoin and later on I ran out of funds and it affected me seriously then.

But coming here became a game changer for me and I was able to learn different strategies I never new existed, so this thread is like a school of thought were we can learn different accumulatimg strategy from each other but however all thanks to @Jay who has been really of a great help to everyone here through his wonderful ideas that will guide us on our Bitcoin journey.

I agree with you on this because when Bitcoin dipped to $16k on January 01, 2023, some people were waiting for the price of Bitcoin to dip even more, but Bitcoin has shown everyone that it can withstand the test of time. So, people have no choice but to adopt Bitcoin and buy it at any opportunity they see, and hodl. I believe this coming bull run many people will regret not buying Bitcoin when they have had the opportunity to do so. Already Bitcoin is getting set to do another marvelous thing again.

On a matter of fact, we all are prompt to making choices the way it suits us. The choice is ours but it will be very unreasonable to make such a decision because there is always  unforseen circumstances that we never expect to happen, that is the reason for emergency funds. Where else funds is not being managed before making investments then there is always greater chance of altering investment plan just for the short term and little profit.

It's very good what you can do with that short profit margin, but if you can wait longer you can reach $40k without a problem, and this can generate more results that are much better, because I don't know much about analysis Tencio, that's why I like to review the articles that are more efficient, and this can indicate to me that the price of bitcoin can reach $40 this year and that is something that could be demonstrated very well, I only see the model S2F and it is enough for me, I believe in that model and for me there is no other model like it, everything will be fulfilled, only that by 2024 I want to see the price more than 100K USD.

Those who bought at $26k can wait a little longer because it is expected that it could exceed $30k, which can be very productive, and this does refer to buying in the dip.

Seeing the price of bitcoin moved up to 29k+, gives me joy that my bitcoin portfolio will increase with time as long as I am on a long term cruise. This has also motivated me to continue with my regular DCA because this is the only way I can rest be assured that I am investing the right way that I will reap from bitcoin investment in future regardless the price of bitcoin at any given time. We shouldn't bother about those panic traders who think that they are smart with bitcoin price movement to make profit when they are only chasing shadows. We should concentrate on accumulating more bitcoin to fill up our bags during this period because I still see this price as an opportunity to keep buying with regular DCA, as we are no more new on the benefit that awaits long term hodlers, if you can be patience and believe in bitcoin by discipling yourself with regular buying. Bitcoin has proven that she is the future gold.

Newbies shouldn't wait for the dip before they can invest but let them go ahead and buy bitcoin now with the money that they can afford to loss, so that if their faith is not strong yet, they wouldn't panic and sell of their bitcoin when the price goes below their entry point. This is why the DCA method that one can assign 10% or 5% of his weekly or monthly income to buy is recommended for newbies, in order for them to be able to be increasing their bitcoin portfolio instead of been stagnant with the bitcoin investment. Buying at the dip is hard to time and that is why it is not advisable for any one to follow some approach in his bitcoin journey. Just imagine some people that thought that bitcoin price will go lower than 25k+ and didn't buy then, they will be regretting now but when you DCA regular, you will have no regret at all as long as you are on a long term goal, because as time passes on the value of bitcoin increases.

Thinking like that, what they think is short term, buying at $26K and selling at $30K.
Actually, there is nothing wrong with what they want, but I think what is more relevant is that in the long term we will see how Bitcoin grows and see about the portfolio they have.

If someone spends all their money on Bitcoin, the burden will increase, what about their living needs, have they been met? Moreover, you have to pay attention to cash flow, so I don't think this is a big mistake, but rather that they don't manage the distribution of investments well.

I think everything must be able to balance investment and other needs.

There must be prior planning to do such a big thing like investment where no small work is done without planning. Investments are already considered risky so planning ahead is definitely required to hold the investment for long term. Everyone comes to know about Bitcoin through Cryptocurrency but I came to know about Cryptocurrency through Bitcoin. There are some media in our country who always give bad name to Bitcoin and I first came to know about Bitcoin in one of their bad name reports. The reporter was presenting this report on Bitcoin in a derogatory tone but the aspects of Bitcoin didn't seem like a derogatory one instead I got curious to know about Bitcoin and I found enough information about Bitcoin by browsing various places online. After getting a rough idea about bitcoin I came to know about investment and since then I wanted to invest and I already got enough knowledge about investment but I didn't invest till now because I don't have money to invest. Even if my investment dream doesn't come true I will soon realize my investment dream and my first investment will be Bitcoin and I will hold my first investment for a long time. I plan to not only hold my investment for a long time but also earn money in other ways and invest that money regularly in Bitcoins.

Investment of Bitcoin is something of plan and I believe that bitcoin investment have to do with plans and you can't because of bitcoin just increase and you began to have a remorse over not to invest in time. A newbie for bitcoin investment is newbie, actually the appropriate time to invest in bitcoin is when the price is in dip and whenever it increases you will make profit, so therefore, theirs no time someone invested in bitcoin that is not appropriate time, but it's unfair that someone invest in bitcoin because of the price is increasing in the market,  I think its unethical to investors

This is true especially those that knew when it was $16k and lower prices. Another thing is when they notice that the market have been moving up consistently for days now, they might be tempted to just put in money, make profit and then get out. Indeed, there is no difference between this and gambling. They often finally make the decision when Bitcoin is about to retrace and that is where the pain comes in intensely.

There are also many skeptics that do check the price of Bitcoin once in a while to know if they should be happy they refused to invest in Bitcoin. When the price goes lower they celebrate their supposed wisdom but when the price rises, there is this regret and pain they feel that they will never share with anyone. I knew this because I have seen few of them.

We are happy to have a thread like this one where various methods of Bitcoin accumulation have been discussed with emphasis on the DCA method that is suitable for majority of the people.

Most beginners seeing Bitcoin at $29,747 today, the first thing that may likely come to there mind is that they should have invested all the money they have and rip the profits.

But however it would have been one the greatest mistake because in as much we no that Bitcoin is of a lot potential doesn't mean someone should invest everything they have.

So this diagram explains the disadvantage of greedy investors that has a little amounts on there portfolio and trying to decide if they will invest all and believing it will yield profits, without knowing that they are stepping on a wrong direction, so is better for an investors that has a little capital to keep on standing still on accumulating a bit by bit in other remain on the market.
 


Source: https://www.shutterstock.com/image-vector/investment-portfolio-bitcoin-crypto-currency-buy-2034867677

This is precisely what is a mistake because how is it possible when we want profit but do not see for sure and do not know what strategy we want to do because in the end it all comes back to strategy if we really want to have optimal profit and it would be very stupid when we want to bring profit but do not have any strategy that we will do.
As for when we say we don't want to hold profits and maximize for the long term, the context should be changed because it is not an investment but trading and we should be aware that trading will be very much more risky than investing.

Indeed, we will not know about the future and what benefits will be obtained when holding bitcoin for a long time, for example in the next 5-10 years but in the end we also have a condition where we have clear data and progressives from the journey of bitcoin in the previous decade since they were created, they have always been excellent and the prospects are quite good so even though we don't know what will happen in the future but of course trying will be much better than just staying silent because we know the risks must be like that so that with the hope and confidence we have in btc in the future this makes a condition where we remain confident and will continue to try until the target we want is achieved.