Topic: Buy the DIP, and HODL! - page 504. (Read 107499 times)

I’m merely sharing information/opinions, both collected and learned in the topic.


Personally, I believe dips are still for buying, but to friends and family that I have forced, almost, to buy Bitcoin BELOW $10,000 a year ago, I tell them be careful because it’s not the ideal situation from a psychological perspective. They should commit.


I said $50,000 is the “new $10,000”, THEN I said that Bitcoin will never trade below $50,000 again. If you got the context you would understand that I was teasing the trolls/big blockers/nocoiners who laughed at the people who said that Bitcoin will never trade below $10,000 again.


It’s also not something “a Bitcoin ready to start a bear cycle does”. Shower thought, what if we knew what price/how low Elon Musk placed bids?

What does that have to do with buying the dip, Wind_FURY?

Are we going to have more dip or not?  Is this the dip that we should be buying?  Or maybe we should have bought when the BTC price went down to $55,442 a couple of days ago.

You standing by your most recent assertion (after being wrong a few times) that BTC is never going below $50k again.. Surely we had a close call on March 25 when BTC prices got down to $50,360.. so in retrospect (always easier to see in retrospect) that surely may have been dip worth buying.

Actually, I would like to point out that for me, it is a bit surprising to spend quite a bit of time in the $50ks.. and largely we have been in the $50ks since about mid February, even though we did have a bit over a week of correction below the $50ks in late Feb and early March.. but it still remains a bit surprising to me to be spending so much time in BTC prices that are largely in the top of the range without any longer term consolidation that comes after a meaningful correction of greater than 15%.. so we keep bouncing back to consolidating in the top of the range, which seems like something that bitcoin generally does not do...   but whatever, what do I know.. just an observation in terms of trying to figure out how much of a dip should be considered as a dip in order to buy for those who are waiting.. and sometimes we do know such dippenings when we see it, but sometimes it is difficult to know when the dip is enough or if there is going to be more dip.

HSBC’s online trading platform, HSBC InvestDirect, has started to disallow their clients from investing in MicroStrategy stock because it is HODLing Bitcoin, which goes against its “policies on virtual currencies”. A mistake in my opinion. They should embrace the future, not reject. Kodak, Blockbuster, and HSBC.

Another dip. Don’t sell, and throw your Bitcoin to the billionaires, OK? Bitcoin has NOT covered half of its path to price discovery for the current bull cycle. All dips are still for buying.

bitcoin code has always been measured in sats.. there is no such thing as a btc on the blokchain
every transaction is measured in sats

yes its a UX thing of what humans view as the unit of visual measure being defaulted to btc. but it does not require any controversial decision by devs.

its a social decision by services and users about how they display the currency

its not a problem
i have been using bits measure for years.. no problem at all

gold merchants have no problem.
treasuries/reserves use tonnes.. traders use ounces.. jewellers use grams.. no problems

It is effective but you can also put it somewhere where you can hodl it and at the same time earn some interest for hodling, I am talking about bankroll investing which is pretty much like gambling but you are on the side of the house so you are guaranteed to get some money back. There is a mixed reaction towards this because there are days where you lose but if you are hodling it for the long term then you might as well hodl it in bankroll because in the long term, you will earn more from that investment.

I regret discouraging my family, and close friends from buying when it had a mini-crash to $30,000. I told them to wait for the next bear market cycle, then buy the dip from one year to mere months before the next having. But the next crash’s floor might be $60,000 to $70,000. Hahaha.

You can do both.

You can buy regularly, and keep some fiat on reserve for buying dips, too.

In other words, you might not know when BTC prices are going top dip, and if you have a regular cashflow coming in, it may not be a bad thing to reach your buying accumulation targets.. Once you reach your accumulation target, you can likely be a lot more selective about when you buy or if you buy and how much of a dip you need before you buy.

So, each person should be assessing his/her own accumulation targets, and don't get too damned greedy.. just buy regularly.. and sure, if you have some extra and you see a dip, buy some more during that period.. but you could get really screwed up if you do not have enough BTC and you are waiting for dips in order to buy that might not happen.

Indeed, this is one of the best and oldest bitcoin buying strategies, buy every dip and keep HODLing! it is a very smart investment strategy done by a lot of traders and HODLers as well. If you are looking for profits in bitcoin you cannot just buy bitcoin all the time because sometimes the market is up and sometimes the market is down. so the best way to invest is by buying bitcoin when the market is down, that is what is called "buy the dip"! 

It's time to buy. I have been waiting for this. We won't get second chance to buy again. This dip is a boon in disguise. My funds are ready but I am in dilemma which alt should I buy?

Devolving? For having a shower thought about a small issue within the community that could be made bigger than it is? It will be a minor problem, made bigger, and the community will be split. It will be something like vi vs. emacs, or tabs vs. spaces. It might never end. Hahahaha.


For me, I don’t care, but for some people, they will care more than they should.

hahahahaha

You really seem to be devolving into a kind of glass half full kind of guy  in this matter, and perhaps it is not really that BIG of a topic - even though in the end you and I seem to be considering the potential BIGness of this topic from differing perspectives, too.

Sure, perhaps, there might be some aspects of the bitcoin community that are angling for units outside of bitcoins and satoshis, but really are they going to gain any traction and does it really matter?  Even now, after experiencing an additional 5-6x price increase since early September 2020, satoshis are becoming more and more manageable as a consideration to go make a $1 purchase, a $100 purchase, a $1,000 purchase, a $10k purchase or some higher value item, and surely using Satoshis does seem to put us into using positive value numbers rather than more frequently devolving into decimal places, but sure I am not opposed to the attempted use of some kind of unit in between satoshis and bitcoins, it is just a matter of which unit(s) might catch on and whether there is confusions about the reference - which surely would not be the case if a widespread number of peeps, venders, exchanges or whatever, started to use some kind of other unit, such as a bit (whatever the fuck that is?).. 

By the way, satoshis have likely already won the supposed sats versus bits debate that you suggest might be in existence and such a BIG ass deal.. and I am even having some difficulties recognizing the BIG deal that you are anticipating to become such a central dividing force in our imaginary upcoming future.        

I believe it will find itself to be in another controversial situation/drama within wallet developers, services, and users. It will be “the Sats vs. the Bits debate, which one should the community follow”? The community will be split again, in a smaller issue, but an underestimated problem.

The essence of the matter seems to be that I don't really know in terms of what it would take to have some kind of unit determinations become dominant.  It seems to be a kind of wait and see thing because none of the naming ideas can really be imposed but just a kind of factor of what a lot of people end up doing, just a kind of consensus that evolves.




I'm just saying that I don't know that the fuck a bit is.  but I know what a sat is and I know what a bitcoin is.  I don't know what the various other references are, but if the vast majority started using one thing or another besides satoshis are bitcoin, then I suppose that any of us can start to learn what they are.. so I doubt that it has to do with being against any of the names, but just being able to recognize that many or most people are using x, y or z, and then ending up knowing what that is referring to without any ambiguity, at all.

The supposed "unit debate" does not really seem to be controversial.,, as far as I have seen, so far.




Sure.. fair enough.. but does that get us anywhere except maybe just saying if things seem easy to do and then they kind of sink in and become wider in their spread of usage and then become a thing that people do... but at what point would they become mandatory in an open system?

Why is there no support of such from the community? Do we wait until Bitcoin-6 digits before we notice the need?


But for you personally, should it be Sats or Bits? I like both of them, but personally I like Bits. I believe thr Bitcoin community will have another governance problem/issue again that will be known as “The Unit Debate”. Haha.


I believe it’s also a UX issue. Bitcoin is not only about the protocol, it’s about User Experience as well.

No one can buy every dip and sometimes you should stop trying to find the dip price, Actually, you just need to buy and Hold, dip or not is doesn't matter but the most important is you join in the train. I have a lot of coins but if talk about investment i don't care the price is dip or not, I just buy it and hold it.

yeah!, DIP is a good opportunity for us to get high profit, why? because if the DIP is successfully touched and the Bitcoin price is sideways or goes up,
then the original DIP price will be a PUMP !, try to do it, buy Every Dip, and hold until everything is clear, the meaning is clear the direction of the market,
of course, stop loss must be put if you are trade, if invest i think its okay without stop lose.

That idea of unit bias has been batted around for as long as I have been into bitcoin, so it is not exactly an innovative idea.  I think Jimmy Song even had a BIP on it in 2017.. or was it 2016.. and surely there were people before him and even websites allowing for the selection of other units (fractions of a bitcoin)

 

Satoshis is probably going to win out because it is becoming popular, some of the other categorizations get a bit confusing in terms of which decimal point they are referring to.. but sure with anything, if one or more of them catch on, then that unit description could become widespread...

In some sense it does seem like BIG so fucking what to me depending on which problem that you are trying to solve, so sure some people are going to get confused into thinking that they need to buy a whole bitcoin or they think that bitcoin is overpriced and blah blah blah.. but in the end, those folks are pretty dumb ass fucks.. I kind of thought that for several weeks in my first studying bitcoin, so I am not even excluding myself from such camp of a person who is inclined to think in terms of the unit and to be a bit confused by the divisibility.  

Another issue is that our brains are wide-spread used to accounting in positive terms rather than in decimal places, which does seem to cause satoshis to make a decent amount of sense - and we also know that divisibility beyond the satoshi (into smaller units) is already taking place on lightning network, but I believe that in order to actually transact on the mainchain, those sub-satoshi units are not recognized, so they would have to be rounded up or down to a satoshi in order to settle on the mainchain.


I am glad to have some help responding to Wind_FURY's shower thoughts.. that's for sure.

I do agree that in your example, 130,000 is likely much easier to digest for a whole hell of a lot of people, besides mathematician nerds rather than 0.0013.... and it is probably more of a what "we" are used to kind of positive numbers thing rather than anything genetic about having difficulties with decimal places.

Not to step on JJG's toes but I think we need to start seeing more wallets / exchanges display mBTC or Satoshis for sure.
0.0013 BTC is something like 75 bucks.
It just looks awkward and difficult to remember the number of zeroes.

1.3 mBTC is better or even 130,000 Satoshi for example.
Especially once BTC starts hitting the $100K or $1million territory.

Another shower thought for you, JJG. There are many non-Bitcoiners, and some coiners who have been saying that Bitcoin has simply become too expensive for newcomers to buy. Isn’t becoming clear that wallet developers, and exchanges start removing “BTC” as the base unit and start to use something else?