Topic: Buy the DIP, and HODL! - page 5. (Read 76417 times)

It somehow put you on huge risk if you invest all your money on it since you might really be affected so bad once you see a correction happened in the market which could lead to bad decision you take. So much better only to spend the extra amount you have and try to work on it to make your balance grow.

We  don't set our investment for short term so aspiring investor should not look at current value and their gains so they would never think about putting all they have or risk all. For sure if they are consistent on their accumulation  they will be rewarded as they can see when they count all their funds gathered for long years of acquiring this will be huge plus imagine on what will be the figures to show up on that time knowing that maybe there will be a lots of demand will come up especially as we know that number of bitcoin is limited in circulation.

Savings for emergency funds has been discussed for so many times so maybe they should do back read since for sure that there's a lot of learnings they can get from peoples opinion in this thread.

When it comes to bitcoin investment, we should not invest all of our money in it so that we will always be able to solve our financial needs when they arise. We all know that not all investors are financially okay with buying the bitcoin dip, and if they are concerned about buying the dip, they might temper their emergency funds to buy the dip because their income source can't cover their expenses. And when an emergency happens, they will depend on their bitcoin investment to solve it. It is not easy to hold bitcoin for the long term, so we need to adopt a strategy that will allow us to accumulate bitcoin without struggling to solve our daily problems. This is why it is good to accumulate bitcoin with the DCA strategy because you will make provisions for an emergency fund that will allow you to take care of your unforeseen problems and also accumulate bitcoin even when it is in a dip.

Of course, it is hard to build and maintain an emergency fund, reserves and a float, so if you cannot do that, then you are using your BTC investment as a form of trading and/or gambling rather than investing, since for poor people it is more important to build and maintain an emergency fund, reserves and float asince they are going to need those kinds of funds in order to avoid dipping into their bitcoin investment.. and if you don't do it, then your bitcoin investment will likely never build because you will keep dipping into it, and it will never end up building up to much of anything to actually make any BIG difference in your life.


Why are we talking about rich and poor? Yeah it is true that both need to have those extra funds, but a rich person may have a variety of investments to choose from, so it seems to me that the point that I was attempting to make was about the greater necessity for the poor to develop better financial practices in order to build and create excess funds even if you are not sure what you are calling them and perhaps they are even inadequate, but they are better than nothing, yet in the mean time you have to figure out your own balance, and even though I am saying a minimum of 3 months for your emergency fund, you can do what you like, even if you might be engaging in emergency fund numbers that I might conclude to be inadequate.. but you are the best judge of your own situation and hopefully it all ends up working out for you if you are intending to build a bitcoin investment.. and you are wanting to give it priority, so if you screw any of the things up, then you are going to be the one that has to live with those screw ups whether that is under-alllocating into bitcoin or under-allocating or over-allocating into an emergency fund..


The only thing that I was saying about a a rich person was that if he already reached fuck you status, then he may well already be drawing upon his bitcoin investment (or other investments that he has), so if he might have to draw 3-6 months rather than just 1 month, that may likely not really affect him very much, since he may well already have extra... so when we are talking about rich, there are levels, and someone who is not quite to fuck you status, may seem rich to a poor person, but he could damage his investment into BTC a lot if he is not managing his balancing of his cash and including his maintenance of various emergency funds..

Hmm, fascinating! Are you saying it is difficult for poor people to maintain emergency funds or have one? If so then, I agree with you because building emergency funds can be very tough especially when one is living paycheck to paycheck. The constant pressure of meeting life's basic needs makes it difficult for people with low finances to maintain their emergency funds and prioritize savings.

However, having even a small safety net can make a big difference for the rich or poor. No one is above unexpected situations that can happen to anyone. This is because even someone rich might face a medical emergency or a sudden job loss that may cost him a shortage of cash. Emergency funds should be prioritized by everyone regardless of the level of income or wealthiness. Unless you would say being rich may be a little less stressful to come up with an emergency funds because they could run to rich friends who would assist them so in that case they wont bother to tamper their investment or emergency funds completely. What do you think?

Your expression really seems short term to me and portrays someone just buying cause of the bull run to take advantage of the trend which is not bad cause anyone can do what they want but its not the most appropriate approach to investing in bitcoin which should be long term and considered accumulating bitcoin for up to 4 years or longer to have a very good stash in bitcoin before thinking of selling bitcoin.

Timing the market is not advisable cause you can get lost and forget that the most Important thing is to actually buy and miss out on buying.
I won't try to tell you when best to buy but I think that everytime is a good time to buy bitcoin and not only when price is low, and that is why we advice to use the DCA strategy cause with that you are always buying bitcoin when price is low and high, the beauty of using DCA is that you worry less about volatility in the market and you don't have to time when best to buy cause you woudl always be buying.

Every low coiner has no business timing the market when it comes to long term plan, but rather utilize every buying opportunities, with your dca strategy you can buy irrespective of the market conditions, whether at low price or high price because you are buying with a fixed amount of money on different intervals, weekly or monthly, because at that stage your concern will be how you can be able to accumulate a reasonable amount of Bitcoin hence, timing the market wouldn't be necessary, rather you make plans as regards to maximizing your buying opportunities to whatever market conditions that will show it self.



Talking about buying and waiting for a bull run describes more of a trading strategy for short term profits than investing, a long term investor are consistent in buying and they don't buy to wait for a bull run but they keep buying even at the bull run in oder to have a reasonable and meaningful amount of Bitcoin as regards to there investment goals and objectives.


The reason why it is always advisable to only invest the amount you can afford to lose, so that you will not panic when things goes against your expectations, only invest the amount that you can be comfortable with.

Indeed he sounded like an investor whose intentions are for trading because I see no connection between long term holding and the possible way of taking profit, though I may not know his own definition of holding but in terms of his statement above he is obviously mistaken holding for trading, however your explanation to him is very clear and understandable so the early he takes another turn on his Bitcoin method of investment the better for him because it is believed that so many investors have shattered their investment do to a possible way they feel they can navigate into getting a quicker profits.

Investors who are targeting buying on dips certainly already have a budget of funds that they have saved from the initial investment planning that they implemented. Indeed, sometimes many people miss the moment to buy dips because they don't have the budget at that time. But if they routinely accumulate bitcoin every week I think it is more appropriate than implementing a buy on dips plan that targets a 50% decline.

In fact, the need for a budget for living needs of course doesn't bother anyone in the investments they make. because we have to go back to the initial planning where if we are able to budget 10% of our salary for Bitcoin investment, of course we will no longer be stressed for the needs of daily life. 10% is quite reasonable for invested funds, even many of them budget 15% for their investment budget.

Bitcoin investment, you have to mention it in detail so that it can be understood by many people. If you are a beginner, you must practice DCA in bitcoin investment. You don't need to worry about the price because DCA doesn't look at the price when you accumulate Bitcoin. learn slowly and invest normally without any pressure on your budget.

DCA is the best, everyone likes it because our target is long-term investment, so DCA is the most reliable strategy.

when you apply the DCA method or concept in your Bitcoin investment, you will definitely put the money you have into several parts, so the DCA concept is the most recommended for their who decide to invest in Bitcoin with a certain time interval.  Remember that only fools do not set aside their money to meet their daily needs but buy investment assets.

the beauty of the DCA concept is that you have set aside your money every month with the same amount without you needing to sell back to meet your needs, your monthly income example is $100 then you determine to set aside $30 every month for buying bitcoin every month in a few years or certain time interval.

Am still learning on this space, but let me throw in my opinion, for me I think at this point we don't need time the market, because no one knows when the bull will make its run, so as an Investor you just invest in this digital asset, then wait for the bull run , because the bull is a certainty just that we don't know when it will come , this is a type of investments you put on a long term, so you will have more profits,
But while Investing risk management strategies should be put in place too, just incase it doesn't go as predicted.

But unfortunately, not all of them can do it. Lack of budget is the most common problem that thwarts accumulation plans for every investor, they also don't need to force themselves to get a budget by any means just because they want to accumulate on dip. You can accumulate at any time as long as you have a budget, but I don't think you should force it.

Consider that you still need a lot of money to meet your daily, weekly and monthly needs. In fact, you still have to consider unexpected costs, bills and so on, so there's nothing you need to force even if the price is being corrected.

By the way, bitcoin fell by 3.6% in the last 24 hours. This may be the time to do some accumulation if you have a budget.

Is very wrong to have this kind of mindset as someone who wants to invest on Bitcoin because those are factors that can easily hinder your interest on Bitcoin investment because immediately you have this believe your investment mindset will immediately change which will possibly make your investment journey very unstable because you have already giving yourself a mindset that if anything such as health issues arises your investment becomes the solution,  perhaps this was the reason why the discussion of reserve funds and emergency funds arises because it is already believe that as the accumulation of Bitcoin continues there is always other needs and it could be anything so you as an investor should be able to manage yourself to cover those needs without tampering on your Bitcoin investment.

Their is no need timing the market because it is not a way of making profit from the market because the market can't be predicted.  This is the time to buy as much as you can and wait till the bull market gives the kind of profit you want. Real investors don't time the market because they know they will definitely get what they want from the market.  Most people that have the habit of timing and predicting the market are just so desperate to make money quick.

Now that the price of bitcoin is low the goal is to buy more Bitcoin and hodl because it will surely yield more profit. When you believe in hodling their won't be any feeling of doubt of bitcoin.

Ethereum, before they converted their network to POS, had a large network of miners that secured their blockchain to "maybe" not deserve to be called it a shitcoin. But after the switch, which they threw the best part of their network out of the window, then it became a shitcoin. That's merely from my personal definition. POS coins are shitcoins, and their community should probably research, discuss, and debate about the incentive-structure of POS and how the game-theory is different from POW blockchains, and probably why it doesn't actually work. But I'm the stupid one, they can make a straw man and gaslight me.

You can set aside an amount every month (when you get salary) for emergencies and through this future needs can be solved. Regardless of your medical or natural problems. Divide it in the form of a percentage of your extra monthly sum (after daily needs)so that you can oblige. This amount should cover 3-6 months of household expenses so that future investment funds are protected. Your investment success is related to your proper planning. However, this method of buying or DCA is the beginning of a successful Bitcoin investment, especially for beginners. But if you have a relatively medium-sized investment, you should prepare an investment plan for emergency situations as well. And the investment must be long-term so that you can take your desired investment success.

This happens to investors who don't take the proper steps before they start accumulating bitcoin. Investors should always make provisions for emergency funds that will allow them to solve any unforeseen problems at any time. Secondly, we shouldn't invest all of our money in bitcoin so that we can have enough money left to cover our expenses, and we will not depend on our bitcoin to solve our problems.

Actually, you're right, but then aren't they shitcoins though? I made a list of the 'top' shitcoins behind Bitcoin. Not implying that market cap is what makes a coin shitty, but there's that though, to some extent.
In the end, they're all shitcoins, regardless of your definition of the term, Reason being that all and every coin besides Bitcoin is shitty, given that there doesn't exist any coin now that's a btc alternative.

I may not fully agree to this that investment is only made by people who have more money than they can use,  reason because investment is a state of the mind for many have what it take but could not invest based on their mindset investment is all about planning, it is very difficult for any one who has not plan to come into decision making of   investing even when the money is there, likely also to those who invested and can't allow the investment to get to the required stage due to the demand of profit as emergency fund as their capital is invested together with emergency fund is lack of planing because good investor with well plan can sort out all this issue before entering into the contract if investing no body wake up and jump into something that he has no idea it, the inability to know and plan can leads to failure even when the money is there.

I believe if we have been talking here about things, approach to a safe investment has been often deliberated on, anyone who fails to proceed correctly having gone through this thread is left to face the outcome. Talking lamely about investment, It is frowned upon to invest what is very essential and vital for our survival even if it is something worth investing but the question should be, is it possible to face the repercussions when it calls for the demand of those vitals resources being invested. Same goes to Bitcoin, our funds are the vital assets that basically controls everything, our investment, our survival, emergency/reserve funds and when it is poorly shared or managed, we are bound to face the repercussions which can lead to tampering our investment, knowing this as a wrong approach we are to consider applying the right approach by investing in percentage of our income in a suitable and convenient approach that it doesn't affect us in any way, not doing more than our financial status all in the name of catching the DIP, It is extremely wrong just as you as well pointed out.

But i do have a problem with that. As a potential investor the length of time we hold our Bitcoin before selling, the more chance Bitcoins price has to increase in value aligning with the idea of long term investment. Investment maturity of 2 - 4 years in Bitcoin in my opinion is not comfortable for me to sell. If you have the privilege's of owning 1 Bitcoin or any amount of Bitcoin why choose to sell?. Anyone considering to sell there Bitcoin should think twice before selling. Because big companies are into Bitcoin investment after the ETF approval and the circulation supply of Bitcoin is low that it cannot be available four everyone, once an investor choose to sell, there big companies are waiting to steal it from such investor and it will be difficult as well as it will take a long time to get back that amount of Bitcoin again.

We all know how it wasn't easy when we started accumulating our Bitcoin, going through bumpy ride, no matter how high and how low the price goes we maintained consistency because of the reason why we originally decide to buy bitcoin and that same reason made us HODL. Selling to take 10% of profit is okay but selling off my bitcoin is something i would never do at least not today.

Infarct most of these investors sell their Bitcoin profit to fiat and start holding fiat which is quite not ideal to me.