Topic: Buy the DIP, and HODL! - page 490. (Read 123031 times)

It's a clear attempt to confuse readers with the term cryptocurrency when we actually talking about bitcoin, and at that to avoid the misconceptions we have to clearly spell out what we mean when we mention crypto/ cryptocurrency for the avoidance of any misinterpretation and misconceptions we need to constantly separate bitcoin in a discussion from shitcoins and the only time we can overly mentioned crypto is when discussing about those shitcoins,/altcoins not tagging bitcoin along with such discussions.

Buying the DIP& HODL is only practicable when we dealing with bitcoin and on this thread the discussion is about bitcoin and at that we must attempt to avoid the use of crypto in this discussion to avoid any further misconceptions.

What is WO members, is this some kind of group. I also hit watch button on this thread but first it took me a while to find my watchlist (like how can i access it) then even i find the watchlist option which was right in front of my face, i opened it and this thread didn't showed there. Like it is not showing in the watchlist even i have click on the watch option. But thanks for the heads up, i will dig more into this matter.
This TryNinja tool is a best i think, from what i have observed by just reading the OP post, i think this tool will be handier than the watchlist option. Thanks a lot dear for helping me here. I think this Ninja's tool will do the work fine.

What you say is also specific enough that it makes me have to agree because in fact it is clear that the term crypto is so broad that it does not only include Bitcoin, but also includes others as you mentioned. And if everyone refers to the reference sources that are in this topic, it is more directed to the discussion of Bitcoin so that it would be very correct if each of us mentioned Bitcoin directly without linking other cryptocurrencies into this. By the way, for now Bitcoin is still under $30K, is there anything out there that makes it difficult for Bitcoin to move past $30K this month?

Unfortunately, many people don't realize it and think that bitcoin is the same as shitcoin or altcoin, this term exists because basically all shitcoin projects use cryptography technology itself which makes bitcoin one of the many cryptocurrencies that take advantage of bitcoin's popularity for the benefit of its developers. , It is also fueled by the many influencers and marketing from shitcoin projects who level their ranks with bitcoin with a lot of their bullshit.
The mention of Crypto itself is not a problem, but this is today a misnomer and makes bitcoin will take the brunt of the relatively failed shitcoin, making bitcoin receive bad screams too in a nutshell.
This is irrelevant today if bitcoin=crypto or crypto=bitcoin, bitcoin=bitcoin and not crypto which contains a lot of shitcoin.
I honestly don't care about mentioning it because the most important thing is accumulating bitcoins, but it seems a lot of people are getting lost with the brand of crypto itself.

I love how you spend time to elaborate and explain things...sincerely, I have learnt a lot from you this few days. One thing I realized from your explanation is that there should be a clear distinction between Bitcoin and the numerous shitcoins, because regarding all as one means the scams that is prevalent with shitcoins can spoil the name and image of Bitcoin. This is true because the promoters of these shitcoins uses the gains and profits people make in Bitcoin to promote whatever they are doing.

In addition, I have seen someone blatantly reject the idea of buying Bitcoin because of a terrible experience with shitcoins. Probably he was asked to invest in "cryptocurrency". Conversely, no one will stop using Paypal because they hard a bad experience with PerfectMoney because Paypal is Paypal and same for PerfectMoney. So, being specific like you said is very necessary and I really agree with you.

Actually, something like that is not wrong but the way it is said cryptocurrency for now actually refers to the mass (many) so it will sound ambiguous and not specific if you say crypto in reference to bitcoin.
It would be better if the pronunciation is more specific to "bitcoin" if it is talking about bitcoin because crypto is broad in scope and this certainly includes bitcoin and altcoins including shitcoin.
It is also not wrong to say crypto because it is true but the scope becomes wider if you say crypto in contrast to bitcoin which is already specific.

Many times my objections to the term "crypto" or "cryptocurrencies" is because it is being used in ambiguous and amorphous ways, and if how can the reader know what the fuck you are talking about unless you specify or there is some kind of context.  If you are actually talking about bitcoin, then use the word bitcoin, and if you are talking about bitcoin and other stuff, then maybe it is better to make it clear that you are talking about bitcoin and other stuff, and your clarifications regarding what you are talking about may well assist you in terms of your making yourself more clear about what you are saying.

On the other hand, we also see the term "crypto" and/or "cryptocurrencies" being used in ways that are sloppy or even seeming to purposeful attempts to mislead, or maybe to attempt to make it appear that someone has more knowledge about what they are talking about than they do.   

I doubt that it matters very much about the extent to which satoshi may or may not have used the word crypto, but I do know that several times, he mentioned that he expected that there were going to be a decent number of projects and/or coins that would be imitating bitcoin, and sure Satoshi was not even around for very long and/or active in the bitcoin community very long - It was right around 2 years that he was known to be active, so he might have had been able to refer to some specific events that had not yet happened in bitcoin or in relation to bitcoin.

By the way, even though so many folks seem to want to appeal to various authorities, including that satoshi should be an authority over any particular topic,  yet part of the problem with that appeal to authority is likely a pretty BIG part of the rationale for satoshi leaving (if we might presume that s/he/it did not die).  So even though it should not (and does not) matter what satoshi thinks, people still do attempt to go back to some of his various words in order to get validation for interpretations regarding his vision and/or intentions. which are not necessarily bad things to do if there might be some weighing between possible competing courses of action.. to then try to go back to some of the ideas regarding.. what was the purpose of bitcoin, and does any kind of particular use case contradict how bitcoin was designed or which version (course forward) fits better with how bitcoin was designed.


Frequently shitcoins are affinity scams, and so if you know what that is, or you understand the idea, an affinity scam tries to get close to the original in order to either appear like the original or to attempt to assert it is better than the original. or maybe even confuse people in regards to the affinity scamming project as compared with bitcoin, and sometimes the original (bitcoin) will get criticized through a variety of the affinity scams talking points, if you are so gullible to either follow such nonsense or to try to grapple with such nonsense, so frequently, you might attempt to distance yourself by asserting that you are not even going to pay attention to any of the BTC wannabes unless they might start to appear to be at least 10x better than bitcoin, and almost none of the shitcoin projects are able to accomplish such...and it is your choice whether you spend your time, energies, mental power and/or money to get involved in the various shitcoins... and sure when we are talking about that crap in this thread and in other threads, we are frequently distracting from the main topic too...so there are other places in the forum that are receptive to various kinds of shitcoin and shitcoin project discussions - including folks who want to trade such shitcoin projects to make more bitcoin.. and even those are likely wastes of time, energies and money, but members are free to do whatever they like and to invest their time, energies and money however they like.. including whether they go BIG into various distracting projects or if they try to modify (or dilute) their approach.. or diversify (which also may well not be necessary, needed or even profitable to get trapped into thinking that diversification into shitcoins is a "positive thing.").

My major challenge at the beginning was the mindset; maybe due to the fact that I was promised quick profit. So it was not easy waiting for days turn into weeks and months to see the profit yet it was not coming.

It is in the entire process I learnt that you only lose with Bitcoin when you sell, else Bitcoin is always something of value when held irrespective of the market condition. I can confidently say that buying Bitcoin was one of the best decision I made and like I said, I am really growing the mindset to handle any market condition and that is some sort of suiting relief.


I think this should be the second time I am seeing this correction that using "crypto" when referring to Bitcoin is wrong. Correction is taken and going forward, Bitcoin is Bitcoin... well learning is a continuous process. Also, for the purpose of knowledge, where did the world "cryptocurrency" come from? I read somewhere that Satoshi never mentioned that word instead he used Cryptography.

Either you get lucky and buy when Bitcoin is at a very big discount, OR, based on Bitcoin's four year cycle, you wait for the bull market when a lot of new investors are in FOMO. If truly limited in capital, wait for either of these events and use as much of your savings as possible to buy Bitcoin.

Well there is an interesting thing but then it will get a different response to the decline experienced by bitcoin. And I totally agree that for us, every time bitcoin goes down, it is an opportunity for us to increase the amount of load in our portfolio, but the same thing will probably be different with those who are still "beginners" in bitcoin investment. Their response to any downturn tends to be panic, and we know in a panic situation, things we don't want to do will be done unconsciously.
It is natural to want to have a large portfolio, because if there is an increase, our profits will also be large. But if we continue to be in that mindset, I think it is a mindset that should be avoided, because it would be better if we start from the smallest balance as said here. I emphasize here for beginners, because from some of my experiences, whenever I see them move, they always want to move from the biggest.

Buying only requires money and it should always be adjusted according to one's abilities from now on, because for people who already believe there will be a big increase in 2024 and 2025 for Bitcoin, many people probably won't make excessive analysis anymore on Bitcoin because they only try to buy and hope that improvements can occur in that year. This is not only a journey, but also included in a good wait for many people who have bought Bitcoin this year forgetting other things that are not important for now.

Hmmm..I see how you have understood and believe in bitcoin for a very long time and I wouldn't doubt your believe in it. Unlike newbies like us that didn't know this  for a long time. It is my pleasure to learn from you as your words are words of motivation for newbies who don't have that full confidence on bitcoin because they lack the strategy on how to go about their bitcoin journey. I could remember the last ATH,my friend bought a fraction of bitcoin but unknowingly to him that after that comes the dip and he was bragging that he has bitcoin, I got jealous and felt I also need to buy too.

Unfortunately for him the price of bitcoin went very dip last year and he got angry that his investment is depreciating and he sold it off. This discouraged me from buying bitcoin and I was confused with the price because I don't have the knowledge of bitcoin movement. This year I got registered here and wanted to understand more about bitcoin investment and why that depreciation in price last year. After reading a lot,I came to understand why the price of bitcoin went dip because it was in the bear  bottom. Presently, that I have understood little about bitcoin and the strategy of buying and hodli with DCA method, it has been a relief to me because I can be bold on my bitcoin journey but newbies like us needs to learn from old G like you and stay focus more on investing 5-10% of our income but consistently and also to have another means of cash inflow so that no matter what happens to bitcoin price,one will still be strong in hodling.


I wouldn't even dare to invest in shitcoins no matter how tempting they are because it wouldn't be a nice idea for me that just started my bitcoin journey and i am still thinking of reaching my bitcoin target someday that I don't even know when. Investing in shitcoin will bring me big loss because it is like gambling especially to newbies that lack the knowledge on which shitcoin can be profitable in the short run. I don't want to do anything that will divert my attention on reaching my bitcoin target. But you understand shitcoins and I know that you are only gambling with it that was why you invested only 0.5% of your funds in it,I don't want to take such risk.

I mean to relate the story behind the experience that our friend @Odohu said about the first time he bought Bitcoin and was about to make a quick profit.

I will say yes to your two explanations that Bitcoin is a very good asymmetric bet and about there is no guarantee that you will get faster and bigger profits based on the experience that we have learned so far as bitcoiners.
Based on historical data, when the price was $10k, $11k and below $15k around 2020, there were those who bought and those who didn't. Currently the price of Bitcoin is under $30k, some are buying and some are not buying. I mean, it's about choice.

It is really a journey... more like a marathon with the ultimate prize being owning Bitcoin.  At the current price,  I don't think much strategies are required to buy. Other things bring equal, we are going to see higher prices 2024/2025. Expectations are really high.

Someone who has instilled a sense of long-term investing will not measure as quickly as possible the rate of return they will be calculating. I mean their main target is to buy sustainably in the timeframe they want like 4 years the length of time the purchase is made on a regular basis and after that they will achieve the profit level they will calculate when they reach their purchase target.

Someone's thoughts on investing are definitely different and of course they want to get a high return on the investment they make. But one of the things that made them make the wrong decision when they invested using an emergency fund. Where when they need money they have to sell their btc holdings. This means investing with cold money without selling pressure if you need money in the future because you still have cash savings without having to sell BTC ownership.

When we are new to investment (especially something like bitcoin), we should be expecting to continually be buying it in the beginning.  I understand that it is a difficult concept to appreciate because many people expect the BTC price to either go up or to stay flat when the first start buying it, but yeah, it could go down 10%, 20% or even 30% to 80%, which really can cause newbies to question if they have entered into a good investment.. and the fact of the matter is that none of us likely know that the BTC price is going to go down 80%, so we might feel somewhat foolish to have bought so high and after the fact, it seems obvious that the BTC price was going to go down, but our retroactive (after-the-fact) perceptions are misleading.

So yeah, it is so much better if we come into bitcoin and we anticipate that we might need to continue stacking for a few years before getting into profits and that it might be uncomfortable.. but the mere fact the price had gone down does not necessarily mean that we should have had waited before getting in.  So, yes, it can feel like a pretty damned BIG dilemma for newbies in that kind of a situation in which their BTC holdings are likely in the negative for a decent amount of time.


Hopefully you are in bitcoin.. Fuck shitcoins.  Hopefully you are not in crypto or shitcoins.

Hopefully, you can also attempt to not use the word "crypto" if you are really talking about bitcoin, rather than shitcoins, and if you are talking about both bitcoin and shitcoins, then hopefully you can be a bit more clear about what you mean.. and how much of that is bitcoin and how much of that is shitcoins, if you are more than 10% into shitcoins out of the total amount that you are in bitcoin/crypto, then I would start to wonder if you are properly allocated within the category.. so hopefully you are mostly in bitcoin, and if you happen to be fucking around with some shitcoins, then hopefully that fucking around is relatively minimal.. not very much of your overall investment because you should not be diluting how much you put into bitcoin, it is hard enough to be building wealth in bitcoin and being able to dedicate investing money into bitcoin, so it seems even more questionable why anyone would actually dilute their investment into bitcoin by very much at all.. and hopefully not even 10%.

I had mentioned in another one of my recent posts that I have less than 0.5% of my total crypto allocation in shitcoins, and I have about 2.5% in cash, so I have about 97% in bitcoin, 2.5% cash and 0.5% shitcoins... and sure maybe I am much lower than usual.. but still you should be questioning how much you really need to be putting into shitcoins?  10% is a lot if you were to even go that high.. and so then you get tempted by so many shitcoin projects .. there are thousands, and so then there goes the amount that you "should be" investing into bitcoin.. diluted into crappy investments.  Hopefully you are not doing that... otherwise you are going to need a lot of luck, and probably you are going to have fun staying poor... #justsaying.   


I am not sure if that is a great way to look at things, but there is some truth in the fact that it is best to take some kind of action and to get the fuck off of zero...So, if we are talking about bitcoin, then each of us should be getting off of zero as soon as possible and taking actions to get started investing (including figuring out some of our particulars in terms of how much to invest into bitcoin and what are going to be our various methods to accumulate BTC.. whether DCA, buying on dips, lump sum investing or a combination of the tactics.


And, I do believe that the more time that you are in and you build up your portfolio, the better that you are likely going to become with handling your emotions, but it can surely take 5-10 years or longer to really build a sold investment portfolio, whether we are talking about bitcoin only or a combination of assets (and I am not referring to shitcoins, but instead to property, equities, commodities, and bonds/cash equivalents). 

It also helps when your portfolio starts to get of significant size and/or getting into profits, and surely if you are saving something like 10% per year, it could take you 10 years so save one year's worth of salary.. so there could be some needs for your investments to outpace the rate of inflation if you might be trying to get up to multiples of your yearly income or even if you might want to reach entry level fuck you status which would be to get to 20-30x your yearly income, and so it can take a while to get there and also to be able to get into situations in which you either are not going to lose it and that you are going to be able to preserve it and preferably continue to build it... at least up until the point that you start to get into maintenance stages rather than accumulation stages, and then later would come getting more and more into liquidation stages...and sure some of the stages can blend and even overlap.


You might have bad thinking if you are considering bitcoin "a crypto that is credible".. which likely means that you are getting caught up in terms of bad ways to think about bitcoin to be thinking that it is just one of many crypto, but it just happens to be a good one.

Maybe you reach the right and/or proper conclusion, but it still seems like a bad way of expressing the idea of what is bitcoin as compared with the various other crap that is called crypto that is out there.

So, anyhow, it is good to figure out what is bitcoin and invest into bitcoin first, and then once you get better understandings of bitcoin, then you may well get better understandings of how to deal with bitcoin, how much to allocate bitcoin into your investments and how to go about getting to your goals and hopefully maintaining your stash.


yes.. bitcoin has number go up technology, so sure you can cash out some or all of your bitcoin during price peaks, but part of the problem is to figure out how to accomplish those kinds of objectives without ending up with less bitcoin or failing/refusing to establish and adequate and meaningful BTC investment strategy/approach.


I don't know about that gabbie2010.  This thread is not really about trying to fuck around with figuring out the upside so that you can sell BTC and buy back more BTC at lower prices, but instead, in this thread, we are attempting to figure out ways to buy regularly with a combination of DCA and/or buying on dips and perhaps HODLing when you either don't have enough money or you are anticipating further dip.. so if the price does end up dipping then would use your extra cash at that time to buy BTC.

If you want to talk about playing the various BTC price waves, then you need to take that to another thread.  There are other threads in this forum that talk about trying to trade and or trying to take advantage of BTC price waves.

My own personal ideas is that it is pretty damned dangerous to be screwing around with selling and anticipating the potential to buy BTC back lower, unless you are doing that in the context of already having had overly accumulated BTC and also likely not selling too much of your possible overallocation.  The devil is in the details, of course, but we are not talking about those kinds of ideas in this thread.


I am not sure what you are saying here, aylabadia05.

If you buy BTC regularly and you have an investment time horizon of 4-10 years or more, then there are a variety of ways to calculate profits, and surely many folks would like their BTC investment to be able to beat other possible areas in which they might place their value... and so you could calculate annual returns or you could calculate your returns over the whole time of the investment.

Of course, there are not any guarantees that bitcoin is going to go up greater than any other possible place that you could put your investment, even though a lot of us who are long time bitcoiners and who have studied bitcoin, invested in bitcoin and continue to hold onto our bitcoin believe that bitcoin is amongst the best of investments for the long term if not the best, so bitcoin is a very great asymmetric bet that may or may not end up working out.. so accordingly, each of us should be attempting to figure out the amount of allocation that we would like to give to bitcoin as compared with other places that we might want to put value.

The strategy that JayJuanGee explain is the best buying formula for those who bought Bitcoin at the all-time high because buying at an all-time high will limit your chances of gaining profits from the investment in the short term most especially in situation where the price of Bitcoin drop significantly after the purchase, but to minimize the chances of losing in on the trend and being able to increase your total Bitcoin holdings, there is the need to continue to buy all the way up and in doing that, the investor must be very calculative with this approach.
Because the percentage of your buy position all the way down is the same as the percentage of your sell position when the price recovers and sells up based on your buying positions and the percentage is what will give you the accurate benefits of this formula.,
This formula worked for El Salvador in their Bitcoin accumulations, despite the fact that, El Salvador first Bitcoin purchase was done when the price was at all high, their never stopped there as El Salvador consistently continued to buy more bitcoin all the way down even at the bottom their still purchased more Bitcoins, and this formula have helped the country to be in a gain position that could cover up for the loses of their first bitcoin purchase.







 

So now you can apply your own strategy when it's a good time to buy. That is an advantage that is not material but immaterial that cannot be touched but can be felt.
If assessed further from your experience, it's not the price of Bitcoin that is expensive but the opportunity to own Bitcoin is expensive.

It doesn't take long for what I want to say. Trying to own Bitcoin as an investment asset is a choice.
If you are sure of Bitcoin, buy it.
Not 20%, maybe you will get 50% profit and can be more than that.

Honestly I preferred all my investment in Bitcoin because a minor correction in it price wouldn't make much impact on my investment unlike some other cryptos, I have a full belief in it and am very confident that it is a crypto that is very credible and trustworthy for a long term investment having read stories of early in investors of Bitcoin with evidenve of massive profit earned by just hodling there coin and sold all or part of there investment during the ATH in 2017.
Honestly as a newbie it is absolutely difficult not to panic after investing huge amount of funds in Bitcoin whenever their a FUD especially when a negative news triggers a massive dump in the price, however after studying the market behavior of the coin many investors wouldn't panic again because price history repeat itself thus whenever there is a massive dump in it price that will create an opportunity for buying using DCA as well as hodling and definitely a period of massive pump in it price is very imminent that is the time to take profit and the cycle continues

This is as if you are talking to me directly. It was real torture when I first bought Bitcoin after a friend convinced me to buy that I will make quick profit. As a student, it was not easy watching my investment down by almost 20% in few weeks. Well I am happy my friend was patient with me, giving me all the support and encouragement I needed then, so it took me time to begin to understand how the market works.

I am still in crypto today is because of one statement from my friend that introduced me. According to him, "you will regret more for opportunities you did not take than opportunities you did and they went bad". This was what changed my mind and gave me the counrage to forge ahead.

I am seriously working handling the emotions.. I know it's gonna take some time to be completely incharge of my emotions and also have the technicality needed to manage my portfolio perfectly well as once in a while the fear do still come.