Topic: Buy the DIP, and HODL! - page 54. (Read 121814 times)

The advantage we have is that we are now aware that you don't have to be supper rich to invest in Bitcoin neither do you need to buy 1BTC at a go before you can start. Rather, you can start small even with as low as $10 or $20 per week which is doable for someone who have the passion and zeal to take his future finances seriously. I have read through the threads to see many fine suggestions that can enable the investor achieve this, one of them being the DCA method that I have seen to resonant with many people and is already yielding good results for those who apply it. So the question of financial sufficiency before investing does not come in because human wants are insatiable meaning that if we want to satisfy all we could ever desire before we invest, then such investment will never happen.

I am planning on separating my wants into the basic and optional so that I can balance how I allocate my income to accommodate my plan to invest in Bitcoin in a little but regular fashion. I have gotten the main information I need to get started so I have to implement what I have learnt and see how it feels to hold Bitcoin.

Yeah, that's why there's the DCA method of accumulating Bitcoin which enables investors that doesn't have enough funds to buy and accumulate gradually over time and if an investor could atleast start by investing some percentage of their income that they can comfortably invest overtime without affecting their emergency funds or money meant for other bills, they would be shocked at the amount of Bitcoin they would've accumulated in their portfolio in about a year time but when an investor keeps waiting to have enough money to by bulk at once they could miss the opportunity of accumulating and gaining profit in their portfolio especially if it took them a long interval to gather enough money. Their are many people that are aware of Bitcoin's potential they know it's beneficial but are yet to start building their portfolio because they feel the current price of Bitcoin is above their budget and are probably waiting for the dip or to have enough funds to start up. Well I hope they come across discussions like this to help them understand that investors mustn't necessarily have enough funds to start-up, they can start small and accumulate over time using the DCA.

Right buddy, because in the end when talking about sufficiency of funds I think this is a slightly more difficult condition because regardless of our attitude in assessing the truth there will never be enough for financial matters because it will always be considered less so that when waiting for it to be enough then we will never invest because of our assumption that always feels less and wants more. But in contrast to those of us who can have a fairly maintained income every month and we can manage it well, it is certain that we will try as much as possible to set aside the income we have for investment if we have a good outlook for the future.

So that investment plans are not disrupted, there needs to be a Passive Income to maintain effectiveness so that investments can continue to run consistently and are not easily stressed due to falling prices. In this way, investors can achieve financial goals according to their plans. The main goal of investing is to increase wealth through passive income in the long term, the longer you invest, the greater the amount of assets collected, so the opportunity to get a return is very large. Investing an amount that you can afford to risk can eliminate emotional factors that can cause loss of concentration in investing.
Even though you don't directly mention the method used above, the direction is towards DCA. This strategy does not take much time, Investors who do DCA can minimize the potential risk of loss so that their portfolio is more optimal.

Bitcoin is a valuable asset. I wanted to explain the importance of tangible assets and the synergy between valuable assets like Bitcoin. A new investor who neglects real assets and overemphasizes only accumulating bitcoins may end up failing long-term investments. emotional. For long-term investment management, the backup fund should be counted among tangible assets. Both permanent and temporary assets are important. Investment success depends on the combination of each asset and the amount of backup fund is should be sufficient to meet the needs of the family for 6 months or more.

I agree with you. There is no time that is too late to invest in Bitcoin. If it looks difficult to start because the price has increased more than the previous times, there is always an approach toward achieving it. Since they insist on procrastinating others are rushing into Bitcoin investment. I even saw a thread in the Bitcoin discussion board where someone is looking for buyers to buy his house worth $18k to $20k and yet he has not seen any buyer.

The little I have invested since when I started has become a substantial holding in my portfolio. Starting an investment now and in 5 years or a minimum of 2 years the investor will be happy why he made that choice.

I like the word 'still early' . Most people usually take that is already too late for them to go into bitcoin investment, (which is wrong). Because we are still early and now is still the best time to hop in and start accumulating, using any method of your choice ( but one of the best and most recommend for newbies is DCAing).

The reason I mentioned this is that back then I also have , the mindset of thinking that is already late to embark in the journey of bitcoin investment. But as time goes , and after alot of researches I found out, it still early to invest in bitcoin, and after taken the decision I have been bullish ever since, I will advice one should stay away from project that promises X1000 (shitcoins) . Because same rate shitcoins can give huge profit if you are lucky, that's how it can also endup up getting one reckt.

I agree.
Yes, there is no multiplication to be calculated, no emotion to be released.
Take your money out of the bank. Make a deposit to buy bitcoin, of course that is the right choice.
There is no jackpot but we change our mindset to the future, think about the future, fiat will be defeated by Bitcoin, then bitcoin is the right choice to have.
Strategy is needed but if there is no support for money flowing every month then the strategy will stop. Stop living extravagantly, savings are needed especially if we have invested in bitcoin. Buying bitcoin regularly is a pretty good idea.

If you look at some of the previous discussions I think we have often discussed about disverification and when you are someone who is new to bitcoin (new to investing in it) and still has minimal money you should just focus on bitcoin without the need to verify because things like this are not really needed.

Not that I am against the opinion of disferivisation but of course for the sake of your convenience in investing so as not to think too much about dividing the money you have to invest and to make an optimal situation from the investment you are currently doing then just focus on one investment in this case bitcoin. Because in the end, when a beginner invests, it is certain that apart from having to learn the lag in terms of knowledge, they are also required to look for some feasible schemes so that how the investment is made does not make themselves wrong in acting so that dissverification is not too necessary to make you not more dizzy with various choices.

Mate I think we should understand that Bitcoin is very versed so having a good knowledge about it before you invest in it might cause some delay, I think what every intending investor need is the basic knowledge to start the journey, a newbie should also have a good investment plan and set goal in other to be a succesfull buyer and a long-term holder, there are investments that requires a good knowledge before one can start up but in the case of bitcoin is not like that since is all about knowing how to buy with what you can afford continually and hodl for a long-term.
I agree with you that the starting point is very important for a long-term investment as you said but it requires an investor to plan on how to invest without being pressured along the line since the investment is for a long-term and that plan is chosing an investment method that fits your pocket so that there won't be any form of obstruction on the way that will make you to withdraw little or all your asset.

First and foremost every newbie should know that Bitcoin is a long-term investment as such as an investor, it is not advisable to invest your all and also as an investor you are advised to have other source of income to enable you  continue your Bitcoin accumulation journey smoothly until you reach your level of satisfaction and hodl for a long-term, in conclusion having the basic knowledge before investing is good but as for the adavanced knowledge it will be acquired when you are fully part of the system, there is a saying that Rome was not built in a day, everything has time, it isn't possible to know everyhing at the same time, we must start from somewhere which is the basics, I somuch belive in one step at a time.

You are right though, everyone need a little idea before diving into anything but the downtrend of the market doesn't only scare beginner or newbies even some... Usually get scared when there's downtrend. It's not a surprise thing to see newbie panic during downtrend of the market reason because they are still new I mean it's more like a normal thing to them but if someone who has being in the Bitcoin space for sometime panics during the Dip it means the person actually don't understand the space he or she is into ( Bitcoin investment).

I don't know what you are referring to in regard to real and/or valuable assets and that you need to have such balance in order to invest into bitcoin which you do not.

The main thing for a starting investor is to make sure that he is not investing beyond his disposable income, and at the same time in bitcoin there is a need to invest 4-10 years or longer if you want to consider what you are going to be investing rather than trading, so any needs to balance would be to make sure that such new investor is not investing beyond his disposable income, meaning cash that he might need for 4-10 years or longer, so if there is any need to balance then the main need to balance would be to have back up cash on hand so that in case he has problems with his income or extra expenses, he would be able to cover those expenses with his extra cash rather than having to touch his bitcoin investment.

Surely once a bitcoin investment builds up there might be some need (or preferences) to diversify beyond just keeping value in bitcoin and cash, and some of that desire would be for the cash to be working more, such as putting value into property, equities, bonds, commodities, cash/cash equivalents and maybe into business assets (which may also be considered as a form of equities). Of course, when referring to diversification there should be no needs to want to get into shitcoins since they are largely already correlated with bitcoin and/or affinity scams upon bitcoin, yet if there is some irresistible urge to get exposure to shitcoins and/or to gamble with those, then there should be limitations of no more than 10% invested into such shitcoins.  If you are suggesting that real and/or valuable assets are more valuable because they are physical then you might also be diluted into considering gold as if it were some kind of a competitive asset merely because it is physical, and sure people collect art and other assets like that, so there could be some personal preferences to hold value into things like that, even though surely not necessary to hedge your bitcoin in any specific kind of a way beyond just having cash.. yet at the same time, the more that a person builds up his bitcoin investment, the more justifiable it becomes to consider some ways to diversify and/or hedge the bitcoin investment, especially since bitcoin is likely not going to really lose its violent and mostly inevitable volatility, and sometimes there can be value in terms of having value held in a variety of places just to have more spending options that might allow spending from the other assets in cases that spending from bitcoin might not be practical.. and in that sense sometimes there could be problems in terms of holding bitcoin all in one place or in limited number of places, especially if the BTC holdings become larger.

New investors are often more focused on making the mistake of making more profit in the short term, which can be a misconception when it comes to Bitcoin. At least he should keep a fair holding and that may be through regular accumulate and on a weekly or monthly basis. Newbie investors should be more careful to continuously enter the market so that he/she can reduce the undesired risk. An ideal way for them is to start depositing bitcoins in DCA method and this method can be continued for a long time if they have a disposable fund.

At a later stage, if he wants to increase the deposit and his earnings tend to increase only with the increase in Bitcoin deposit, he can do so. A common mistake that a new investor makes is to decide to invest all his money in Bitcoin and its tendency to skyrocket but he must keep a logical balance of real assets invested with valuable assets and make investment decisions with the amount he can afford to lose.

Of course, we are talking about bitcoin here and not shitcoins, so I am not sure why you felt some kind of need to proclaim that bitcoin is in the world of cryptocurrencies as if we might need to be considering some various shitcoins as possible alternatively places where we might want to invest?


If you are a brand new investor there is no need to diversify, you can start out by investing and/or saving in bitcoin and cash, and as your investment portfolio grows then you might want to consider starting to diversify some time down the road, maybe after your biitcoin holdings might have reached a certain size or maybe a certain level of your expenses.. perhaps when it gets somewhere in the range of 1 year's worth of your expenses, yet it is not absolutely necessary to diversify beyond bitcoin and cash, at least in the beginning.


Maybe you can describe what you are supposedly doing with a bit more particularity, without necessarily ruining your OpSec..


Mostly there are three kinds of back up funds.. 1) emergency funds, 2) reserve funds and 3) float.  I personally believe that emergency funds should ONLY be used for actual emergencies such as loss of income and/or increase in expenses.  Bitcoin prices going down is not an emergency, yet you can still have funds that would be available for buying bitcoin.. but use of emergency funds for such purposes seems quite problematic and engaging in a kind of gambling rather than investing practice.

I had created some various examples on several occasions regarding the various kinds of ways that you might have extra cash that you are saving, and serving as reserve funds, and so for sure it is up to you in regards to what the priories of those reasons might be to draw upon such funds and certain things have higher priority than other things... lf we might say saving or putting in reserve funds: 1) buy the dip, 2) anniversary/Bday gift for wife/child/parent or someone else, 3) house repair, 4) buy motorcycle for work or fun 4) vacation and/or going out to restaurant  5) dental work for self or family member 6) repair or replace car, 7) replace/update phone or computer, update some business related project that will end up bringing in more money  and/or 9) some other items that may or may not be short term needed. 

You would likely take from one or another of these categories of reserve funds to buy extra bitcoin on the dip, and it seems to me that if we are responsible in regards to our keeping strong cashflows that do not overly cause us to gamble, then each of us should never be dipping into our emergency funds until we had exhausted all of our other various reserve funds first...and some of those reserve funds might be related to preserving personal relations and others might increase our income or productivity or stop us from losing money or allow us to reduce some of our expenses, and some of them are just to make us feel good (or better or maybe maintenance of a level of satisfaction in life, which also might be necessary too).


You can ONLY decide what to do right now, and so in that regard, either you buy or you prepare for dip which is waiting to buy, and it is not an all or nothing bet.

If the BTC price had dipped, then either you prepared or you did not, and you might have money coming in once a week that you might or might not be able to time the dip, and you might have some flexibility in terms of when you employ your buys, so that if the  price dips you have money.  If you had been buying all along, then you might not have any extra money to buy on the dips until the money comes in.

There is no reason for me to change my answer, and you cannot buy bitcoin based on historical charts, since you cannot go back in time.


You have to have money available to buy on dips in order to buy on dips.. so if you do not have it, then you cannot buy.

You can decide whether you buy every week or once a month or if you do your buys more sporadically, and sure there is no problem to manually make those buys during dips, if you have money available, yet like I already said many times, for newbies there may well not be any reason to save extra money for buying on dips..and frequently also even if you have been accumulating bitcoin for a while, if you are still considering yourself to be a low coiner or way under stocked in BTC, then you also may be way better off focusing on buying regularly rather than saving up for dips that may or may not happen.


We cannot go back and buy at those times, so either you were buying during those times or you weren't.  There is no information that we are going back to those prices any time soon or that it would be worth it to attempt to wait to buy at such lower prices that might not happen.


I encourage people to buy at any price, since they have to get started if they don't have any bitcoin, so after they spend a bit of time buying bitcoin, then maybe they might put themselves into a position to be sufficiently prepared for up and that that they might prepare for down too.. .Yet, many times people are sufficiently prepared for down by just having a cashflow and also having a certain amount of money that they can buy weekly, so if the BTC price dips then they can employ their weekly buys during such dips if they happen, and maybe if they do their weekly buys manually rather than automatically, they can attempt to time their weekly buys to hit the dips better.

Sure the longer that a person has been accumulating bitcoin the more that he might be able to have more luxury to be waiting for dips rather than buying BTC regularly, consistently and persistently.


I am NOT suggesting that newbie bitcoin investors gather information and knowledge about bitcoin before getting started.

I am suggesting that anyone and everyone should get started buying bitcoin right away, and the most basic that they need to know is whether or not they have discretionary income, so that they can get started.

Yeah of course, they have to figure out from where to source their coins, and they can learn a lot of the various aspects of bitcoin and even improving their cashflow management skills as they go. 

Surely, if they are going to want to better understand some differences between various shitcoins and bitcoin including figuring out what are scams and how to engage in self-custody, they can learn those kinds of topics as they go, and they should be focusing on bitcoin first.. and so if they are not able to focus on bitcoin first, then they might need to figure that part out for themselves, yet their needing to figure out why bitcoin first or how much they are convinced that bitcoin is the best of the investments, they don't need to figure out those things in order to get started with their discretionary income, whether that is $100 per week or some other amount that might be more reasonable for them, and if they are not sure about the level of their discretionary income, then they should start with lower amounts, since they likely should be planning to invest into bitcoin for 4-10 years or longer, yet they can figure out a lot of those details as they go and likely it is way better if they figure out a lot of the various details, including their 9 personal factors, yet they don't need to have all of that figured out in advance beyond just figuring out if they have disposable income or not, and if they don't have disposable income, then they have to get disposable income before investing into bitcoin, otherwise they would be gambling rather than investing, and surely I don't recommend gambling when it comes to bitcoin, but i do recommend getting started right away, especially for no coiners and/or folks who have concluded that they are low coiners, which the low coiners are currently an overwhelming majority people in the world... so it tends to be somewhat safe to presume that most people are low coiners unless they tell you otherwise.

I dont want to say anything bad for those who are trying to borrow money to invest even though I wouldn't do something like this but I quite appreciate the principle of those who are borrowing for bitcoin which they think is very good to do even though this is against my principles and I wouldn't do something like this to collect bitcoin because for me collecting bitcoin as much as I can and as much as I can from my income will be more worth it because I am not too depressed and able to survive compared to borrowing which will make me feel more constrained especially in mental problems that have to divide time in thinking about investment plans and existing collateral payments.

Its enough to invest as much as we can and as strong as we can even though being in bitcoin is a good thing but the main focus right now is not that we should feel this is a race with other people who do a lot of ways even by borrowing and risking everything in bitcoin without thinking about other conditions because this is not a proving ground for who can have the most bitcoin but what we should think is that we must be able to stay consistent and be in confidence in order to achieve what we expect with the bitcoin we are investing now.

I like your explanation mate because no one can even develop interest on something without have a pre knowledge of what they want to get involved in and even though Bitcoin investments don't require much knowledge before starting up but it still requires some understanding before entering because if a beginner starts making investments without any knowledge and in the short run they start to experience the upwards and backwards movement of Bitcoin it can scare them because when the price falls it will look as if it won't return back again and they can panic even when you try to explain to them in such situation but if they knew about those changes at the early stage of their investment it will help them not to be in distress when the price falls. However, if a new investor can know about how to buy and store their Bitcoin in a safe wallet athink it's enough knowledge for them to start investing immediately and learn other things later on. How do you know that a lot of folks are investing in Bitcoin? people who are investing in Bitcoin are very few who summoned courage, the rest are just are just being excited for nothing because they just got little amount of Bitcoins or even may not be hodling.

It is not necessary that one must have enough funds before investments must take place. The most important thing for one to have to start up investments is a steady source of income, then make plans how much amount of money will go in for investment and how mich will be for reserves and how much to be spend. Having a source of income,  then make good plans and invest according to the amount you can afford to spend. Investments can only be stressful when there is no steady source of income and when there are no good plans on how to manage the money.

The reason why investment can be stressful to some people is because they go for investment that is more than their income . It is easy when we know what comes in as income, then go for investment that one is capable of even after every expenses, then their won't be anything like stress.

I guess it comes down to the tradeoff of lifestyle and future security that makes investors feel pressure along the line. When people hear about Bitcoin investment they though one can succeed in it effortlessly. There must be factors that will want to shake us during the path to feel pressured and that is why I say that the way we our lifestyle determines how we treat our investment too. If we live lavishly and spend money on expensive items when we know the income is not up to that standard. It will cause one to tamper with investment when the money isn't enough at a certain point in time.

As for future security. Emergency funds, savings, and other necessities serve as a security net for us. Any investor who praticalise keeping funds for these reasons will not be in a position where tampering or hindering his investment will be the solution to his problems.

The right time is starting with the funds/ available and by doing it regularly and consistently. You can invest with a strategy that aligns to what you can afford, of which DCA profers such rather than thinking of when to invest. With a DCA strategy you can invest right away and at any moment regardless of what the market conditions may be.

Those that think of bitcoin failing or falling are still dreaming they are not in reality, bitcoin is a shift from other traditional assets/ investment,  its an assets  of its kind. It possess  a lot of potentials and growing popular and being adoption globally so while some think of bitcoin falling. Bitcoin is deep rooted in the market no matter the conditions,  bitcoin will still flourish

Yeah is good to have a certain knowledge of bitcoin before going into it. Because no one will encourage any one to go into anything they don't have idea about. But the thing is that you guys might be mistaken it when some folk kept saying that some knowledge about is not necessary before going into it . They literally meant that one don't need to possess complex knowledge about bitcoin before going into bitcoin investment, rather one just need the basics knowledge you just mentioned, ( which are how , where to buy bitcoin and where to keep bitcoin etc. ) , one is good to go with just having the basic knowledge first maybe as time goes they can focus on learning more about bitcoin as they are accumulating. Because in this space one thing that play a vital role is knowledge, with that you will be able to secure a bettet investment in a long run. And we have alot Of good folks here that doing great jobs impacting on us still.