Topic: Buy the DIP, and HODL! - page 550. (Read 135573 times)

Most likely in this case it is fear because if you look at the current condition, the greater the adoption of bitcoin, the more the central bank loses control over monetary policy, which does not specifically mean that as bitcoin grows, their regulatory conditions within the central bank will be weaker so of course this will allow the government to worry about the control they have if it is weaker.
Indeed, for those of us who really want freedom and without connection with other parties it is good but certainly not with the government because that is what makes some countries including large countries not dare to take risks.
Even small countries like El Savador are risky but of course they clearly know the benefits will outweigh the disadvantages.

Greed is actually good to convince more people into HODLing Bitcoin.

 

But the more they get eductated about the protocol, its functions, its value proposition, etc then the faster they come to a realization that HODLing some amount of Bitcoin is an absolute necessity especially with where the modern financial system is going with CBDC.

To put it simply, "CBDC = Tyranny, Bitcoin = Freedom".

There will be people in the forum who will call you names, make you feel stupid, even call you a toxic maximalist for saying such things. Don't listen to those people. Because why design the network to be in such a way that its main value proposition is censorship-resistance if not to be a tool against tyranny?

Efforts to regulate cryptocurrencies continue. While this effort only may attack some shit coins and centralized exchanges, but that is not possible with Bitcoin. Because it is decentralized. Only Bitcoin investors can invest in crypto without such tension. No one can control it. However, those actions may be aimed at temporarily taking advantage of the market by highlighting the downsides of other coins.

So if you don't want to risk your hard earned money then you should definitely buy from the current dip of Bitcoin and hold it for your desired expectation.

Yes. Yes. You seem to know where the wind blows. For @Aanuoluwatofunmi it is true as you say not to be afraid to adopt BTC and do it for transactions and legal but I think many countries have not fully understood and are ready for this digital financial technology. Of course there will be large initial costs disbursed by the government at the beginning when this is implemented so that people are familiar in terms of use, although some are already proficient, for example in terms of depots, transfers and withdrawals to fiat.

Banning from the IMF will not have an impact on the crypto currency market, especially BItcoin,
because the biggest market for crypto market cap comes from this world,
moreover China has also allowed crypto currency trading, so there is nothing to worry about the IMF.

Why should some countries be afraid of government sanction on bitcoin as an investment or asset to hodl, what have they done to El-Savador that first adopt bitcoin as a legal tender, bitcoin has to be understood in the same perspective as the same money used for making payments because it's a legal and acceptable means, they cannot assume it to be an illicit currency just because they hodl or it's been volatile.

The statement that has been submitted by the International Monetary Fund IMF no longer mentions countries that have become pioneers in terms of adoption, but countries that are still hesitant to embrace this new financial technology are afraid of being penalized. So naturally. This is good news for a country that has ideals in that direction. Just look at the market response now BTC Up and yesterday BTC touched $ 31,431. If there is a small correction after that, it's normal to jump even higher. Just look at early January 2024. BTC Fly to The Moon.

I corrected the previous word because what I meant there is when we talk about investing, it doesn't mean that we do it today and for tomorrow because this is not a problem in a short time because coming back Investing clearly takes time for that.
Even though that can indeed happen, it only refers to shitcoin, which always pumps according to the wishes of the people who are in it, not for bitcoin, because there really isn't anything instant in this.
I'm not going to refute what you say because it's something that even in this case I prefer profit targets over timeframes but that's not wrong either.
I do a little different because I invest in bitcoin instead of following the timeframe whether it's 1 or 10 years in the future but I have a target in the amount of profit and when I'm satisfied with the target I want to achieve then I will go out and wait again for some time when bitcoin having the drop state as a return prefix for me.

Reading through the news shared and the advice of the international monetary Fund IMF it suggests for development of CBDC so that the government can have more access to regulate and controls the Digital Assets of its citizens the only positive thing from their statement is countries improve their payment systems.
IMF is being too political in their approach to cryptocurrency because it did not mention El Salvador or Central African republics in its statement even though both countries are the first to fully adopt cryptocurrency, so the IMF did not make an appropriate cryptocurrency adoption statement rather the IMF tried to promote the development of CBDC.

And today's statement from the International Monetary Fund will also have a real impact on the development of the crypto space especially BTC that banning cryptocurrencies may not be effective in the long run and can have a negative impact on a country's economic development and innovation. Source: https://cointelegraph.com/app/public/index.php/news/imf-banning-crypto-not-effective-in-long-run/amp.

I have some areas where I can get profit temporarily if I invest but I am not planning on that. Because I have a different dream with BTC. I was able to understand where BTC could take me in the long term. I have seen 2018, 2021 and more to come. But I have set my mind to keep my DCA at least running till 2030. At first my intention was to withdraw profit from BTC temporarily but now I think how much I can grow my BTC portfolio.
I don't think about the price of BTC right now. My main intention now is to make the BTC portfolio more healthy. I believe long term bitcoin holding will turn my small portfolio into a big asset.

I must say that you are a diehard Bitcoin enthusiast which is a very good mindset as it can only do you one thing, it can only enrich your pocket beyond your wildest imagination. The future of Bitcoin is by no doubt promising, and there might be a time in less than 20 years when Bitcoin might be around $500k. Now, imagine those people who have had a permanent investment in it for that long. That means huge money for them almost without doing anything.

I have always had this plan to be candid, but it is such a separate plan from the other means by which I manage my Bitcoin for profit. There are some of my coins that I am keeping now and I keep purchasing more value of coin. They are such that I will not spend in the next 20 years and beyond, while there are parts that I use for trading purposes too.

Even at that, any profits realised from them (that for trading) still go to my HODLing wallets which I don't intend to spend at all. I might even pass them down to my children as their inheritance.

I do not dispute what you have explained. Because the investment that we are doing for now is an investment in the next 10 years so it doesn't occur to us when the price goes up or down to calculate the percentage because our hope is not that but we want to have more BTC in our portfolio.
BTC is a very valuable asset that we must have whether it's 1 BTC or 10 BTC because we assess the development of Bitcoin adoption getting better from year to year therefore we want to have more btc when the price goes down. Trust comes with full faith in bitcoin and that is what we want to see from everyone's words in the real world in the future because Bitcoin will be able to be a more efficient currency in all fields compared to Fiat.

You can't want something that really buys today and profits very big in the future because in essence Investment is not like that. We need more time to get results.
Talking about DYOR doesn't that mean you still have to look at other people and always buy what other people say so that the word DYOR is there? you have to have your own beliefs, friend, because if you keep doing things like that (following other people's words), then you definitely won't be able to survive here and I'm pretty sure losses will continue to come because your mindset is actually not wrong but not quite right because it's just expecting something a bit quicker or instant.

I doubt that anyone said that there is any need to ONLY focus on "fuck you status."  The idea of fuck you status is used as an example of something that might be considered as a goal, but as you suggest, there are a lot of ways to profit from bitcoin even if it might not end up facilitating the reaching of BIGGER goals, such as reaching fuck you status.

Reaching fuck you status is not easy - and of course, there is a lot of variation in how to frame that kind of a concept, so the absolute numbers would be different for people, even maybe the general idea of entry level fuck you status would be to reach a kind of status in which work becomes optional rather than mandatory... and surely there can be lower levels of becoming enriched by bitcoin in such a way that might not quite reach fuck you status, but still having had invested into bitcoin ends up giving more options than if a person had not invested into bitcoin... and surely there are no guarantees that investing into bitcoin is going to improve your life, but bitcoin does seem to be amongst the best of asymmetric bets that are currently available (if not the best asymmetric bet currently available).


Yeah, but in terms of the basic thrust of the thread, we are not talking about trading in this thread, and we are not talking about selling..  even though surely no one is going to disagree with the basic idea of buying low and selling high - while at the same time, if we are talking about a longer term investment that might be 4-10 years or longer, then presumptively the BTC price will be higher down the road, so we might not be getting so much caught up upon short term trades but instead building a BTC position that is held for the longer term, and so any time that sales of BTC might be made down the road, whether 4-10 years or maybe even 20-30 years down the road, then presumptively the BTC price will be higher at the time that any BTC sales are made (and not even referring to selling all BTC, but just shaving off some amounts of BTC here and there as needed.. all profitable if the whole matter plays out in a positive way for bitcoin, while no guarantees, not a bad bet/investment for the longer term.


Fair enough.. but still you are seeming to come to this thread with a trading mentality... like you are wanting to get into the investment (BTC in the case of our topic, here), and then to get out of it... but if we are playing the long game, then we will not be considering those kinds of matters of getting a 5x profit in a short period of time or whatever..

Sure any of us is going to feel better if the BTC that we hold is in profits, so then we can have options to sell some of it, but we would not even be talking about selling it all.

Even for myself, I started to get into bitcoin in late 2013, and I did most of my accumulation in the first year (by the end of 2014), but I ended up accumulating more bitcoin between 2015 and 2016 and even later, but still I might consider that my average cost per BTC is right around $1k per BTC.. so if I have mostly held onto my BTC even through the price rise of 2017 my BTC stash got up to 20x, and then shot back down to 3x and then had various price points that went up to 69x and then back down to 15x and then currently in the 28x territory. 

So now I am in profits.. just a matter of the level of profits.. been all the way down to 3x in profits and all the way up to 69x in profits, and prior to there were plenty of time that my BTC portfolio was in the negative, even up to 65% in the negative (in 2015 my average cost per BTC was around $550 in the beginning of the year and around $500 at the end of the year, but the BTC price was below $250 for most of the year), and so cost of BTC and level of profitability can change with the passage of time, including that mistakes can be made along the way too (and it is likely that each of us will make some mistakes along the way).

We can also make ballpark estimates regarding the profitability of the BTC that we hold, yet if you are valuing your wealth in short term dollar profits, you might never get to a status in which your BTC holdings are mostly in decently large profitable ranges in order that you might not be getting so worked up about getting out of BTC and getting into dollars. .or getting in and out of BTC and then ending up being mostly (or all) in dollars.. and why would anyone want to be in dollars? 

I can see having some dollars for regular spending and expenses and even for emergency expenses.. and just maybe constantly having some dollars, but it can be good to have BTC too, even if BTC prices are fluctuating a lot... but hey, you do what you like.


Even though you are talking about buying BTC on the dip, you are still talking about cashing out of BTC.. so it seems to me that I you really do not appreciate the long term investment value of BTC, even though of course you are free to play your BTC stackenings however you like.


In this post, you seem to be understanding the idea of buying bitcoin for the long term, but for some reason, I am not sure if I believe you - especially since you already stated that you are trying to figure out a BTC price in which you can exit.

Yes you are right, a better level of knowledge about Bitcoin will strengthen their confidence to hold Bitcoin in the long term.  So, for example, mister SAYLOR, he is quite familiar with the progress of the current era and he believes that bitcoin is the most valuable asset in the years to come. Therefore I think there is no such thing as giving up in accumulating more BTC in our portfolio for the long term.

The option to buy when there is a decline is a moment that we don't waste because it becomes a very good opportunity to buy and buy, in fact we always say that if you are not an analyst who masters every chart wisely then the DCA strategy is one of the best options as  I do currently buy in every week.

Bitcoin has no limit to what extent its price could go at a particular trend whether it be an uptrend or dip the fact is that anyone stashing up Bitcoin should already have a predetermined conviction to hold for the long term base, so with that long-term principle it will become easy for the investors to either buy more when the price vs his last buy price go dipper or he resort into taking a break and continue holding.
Since bitcoin is not like shitcoin whose holder must be careful about holding on to a long-term basis, since there may be a possible dump of price, but with bitcoin all the investor needs to do is to have a proper DCA buying mechanism that will checkmate the buying process not to overdo or overbought as you have stated.

I really believe that people who hold bitcoin for a very long time based on their knowledge and trust in bitcoin, so they are able to hold it even for an indefinite time.

Greed is synonymous with loss, and personally I can say holding bitcoin in the long term will result in profits not losses. And also usually greedy people do things with uncontrollable emotions, while the people who talk a lot about holding bitcoin are people who have knowledge and they do it by doing research or analysis, after all, what I've seen so far they are people who understand good management and discipline, so saying someone who holds bitcoin is someone who is greedy is something of an inappropriate judgment or even not right at all. Except they have no knowledge at all and have no idea of the risks and they do it on the basis of following others, while they have absolutely no idea what they are actually doing.

I would  have edited some of the post over here but I found all very interesting  to me so you guys have to pardon me quoting the entire discussion.
But basically  I don't see any reasons why we want to get ourselves  worked up with wanting to achieve the fuck  you level when we can peacefully enjoy most of the benefits while riding with bitcoin.
I've always worked with the simplest  principle of bitcoin  which is buying low and selling high and I had to work on my greed to accept every little profit as a win rather than wanting to achieve 5k from 1k investment and just ending up losing everything.

Long story short,  if we want to achieve what so ever height in bitcoin,  then we should atleast get some if not enough money so as to buy the dip when it arises because that's the best way to enjoy bitcoin and hope it rises to a contentment point for us to count and withdraw our profits.

I don't think that holding bitcoin for long is greed. No, instead for you to be able to hold your bitcoin for long needs patience and self discipline with a lot of sacrifice which a newbie might see very hard to accomplish. What is greed is trading or selling your bitcoin because you feel that is the best way to add more bitcoin to your portfolio which is a very wrong idea,because you will always end up selling at the wrong time thinking that it is the right time to sell off some bitcoin. Most newbies always feel that after buying and the price pumps a little that is the right time to sell and the end up using 100% of their funds to invest in bitcoin. And when the price didn't move up as they planned,instead the price goes dip,they and sell off because they lack the knowledge on how to have a good profit on bitcoin by holding for a long time. Well we all have our reasons on why we are buying bitcoin.