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Topic: Buy the DIP, and HODL! - page 56. (Read 121833 times)

legendary
Activity: 3892
Merit: 11105
Self-Custody is a right. Say no to"Non-custodial"
September 17, 2024, 01:00:49 PM
It is not always right to follow other people's advice, of course because you have to do your own research with a good strategic approach.
Yes Individuals are always encouraged to do their own research when necessary or when you feel that someone advice could be misleading. But there are some certain cases that even with your own researches, you will still not get it the right and at that point you will need to listen to someone that's more knowledgeable than you. when you're doing the wrong thing and someone that's more knowledgeable talked to you about doing things with the right approach that will be more efficient and productive, would you still remain in your ignorance and do things your way? You can only neglect people's advice, when proven beyond reasonable doubts that they are telling you to do the wrong thing. That's the more reason why places like this exist so we can improve our knowledge and approach of doing things which ordinarily we don't know.

Surely one of the best, if not the best, of teachers is experience, so each of us should be taking the advice of others with a grain of salt, and not presuming them to be able to determine what is best for us, yet at the same time, sometimes many of us can become stubborn and end up doing something that ends up screwing up, and sometimes we will repeat similar screw-ups before we finally learn our lesson, and so surely a forum like this allows us to explore our ideas, and figure out the extent to which other forum members address our issues, yet so many times, I find that most of the more difficult problems (and dilemmas), I have to figure out my own balancing of the trade-offs.... and surely sometimes other members are helping me indirectly when they might explain some of their thinking process or how they went about resolving one of their dilemmas..

Let's say that a member suggests that you should figure out your cashflow and expenses for the next 6 months and attempt to figure out your discretionary income for each pay period, and then when you are starting out to start to invest with less than 50% of your discretionary income in case you make some mistakes, yet you believe that the recommendation is too conservative so not ONLY do you not project out your cash flow, you also ballparkedly estimate an investment rate of around 80% of your discretionary income, and maybe that sloppiness ends up working out, yet it could blow up in your face in a major way in which you end up having to sell some of your bitcoin or take some other emergency measures, or it might just blow up in a smaller way in which you have to move funds around and sweat a bit for around a month or so to make sure that your income is higher than your expenses for the period until your next paycheck.  Sometimes the learnings sink in much more when a guy goes through some scenarios in which he is able to recognize mistakes that he actually made and reasons that he might want to avoid making those kinds of mistakes in the future.

So sometimes we can say to another member:  "you dummy!!!  Why didn't you listen to other members", and surely sometimes the member is ONLY able to absorb so much of the information about what to do or how to do it without plugging the information into their own practices, and they might not even be able to see the exact fit of the information until they had gone through some kind of a similar situation in order to figure out why certain practices can end up saving them but increasing the odds of profiting in financial and psychological ways... including that sometimes the result of profits (or being in a better position) are not apparent for quite a long time later, maybe even years and years later... so in that sense, sometimes the first several years in bitcoin, there might be a lot of work that needs to be done to both build strong cashflow management practices and to also build up a bitcoin portfolio holdings (that might not always be in profits), but then years and years down the road there can be recognition that the earliest times of preparation ended up paying off quite significantly in order to establish good systems, put them into practice and maybe even sometimes being able to see how some of the earlier purchases ended up with really high appreciation rates and added to the overall stack of BTC...

....such as I remember sometimes being a bit worried that some of my earliest bitcoin purchases in 2015 were not really going to add up to much, yet at around that time, I had put a system into practice so that if I had any kind of extra cashflow that came to me, whether $20, $50 or $100, then I would divide that amount in half in order to buy bitcoin with half of it right away (or within a day), and then put the other half into my cashflow reserves, which likely was going to be needed for various extra expenses within that month or the next month.  So at that time, bitcoin prices were mostly in the mid-$200s, so if I ended up buying $25 worth of bitcoin, that would mean that I got right around 0.1BTC, which seemed so small, but still a continued stacking process through that whole year in which my cashflow was fairly tight based on some then business related issues that I was having, and it did not help matters financially or psychologically that BTC prices were down, too... not until much later, there was a realization that the low BTC prices were just a temporary (even though seeming long term) phenomena.

[edited out]
..... Buying more units of Bitcoin during DIP periods is definitely not a mistake, no?

It is a mistake if the BTC price does not end up dipping, and they had been holding too much cash waiting for such a dip that did not end up happening.

Sure there are guys who wished that they had more to buy during dips, yet a balance still needs to be struck in regards to continuing to stack bitcoin and not getting too caught up upon the price, especially for newbies who likely are still in their earlier of stages of stacking bitcoin and still need to build up their BTC stack to prepare for up. 

Repeatedly, I describe that an overwhelming majority of the world (including folks who already own some bitcoin) are overly prepared for down and insufficiently prepared for UP, so each person needs to assess his level of preparedness for up in order to assure that he is sufficiently prepared for UP, and he ONLY has himself to blame if he is sitting on too much cash and overly preparing for downs that may not end up happening.

[edited out]
.......
It's not as though it's totally out of place to look at Bitcoin price, and if we're able to, we can buy at a DIP price which will be to our advantage. The only issue is when you allow it deter you from buying as at when you ought to buy all because you want to be at a small profit.

Frequently newbies get overly obsessed about the extent to which they are in profits or not, especially in their first years of investing, which frequently causes them to do dumb things like overly waiting for dips that might not happen and sometimes selling too much too soon because they become too worried about either locking in profits or trying to buy back more at cheaper prices that might not end up happening within the timeline that they expect such cheaper prices to happen.

Ongoing BTC accumulation is likely a much better practice that also puts the BTC accumulator into a much better and more consistent mindset too.. yeah, it might not always be short term profitable to remain focused on ongoing BTC accumulation, yet I doubt there are very many traders who are going to be able to show better BTC portfolio as compared with the buyer accumulator, especially once we might get into  longer timeframes such as 1-2 whole cycles... and yeah traders frequently think that they are so smart in the shorter time frames, yet selling too much BTC too soon has a pretty fucking large costs as compared with the HODLer who did not sell, even though such traders are likely still showing dollar profits.. but they tend to be way smaller than the longer term BTC HODLer.. and we have so many of those examples in BTC's history.. even a recent example of so many traders selling large chunks (if not all) of their BTC in the lower to mid $30ks in the October/November 2023 timeline and maybe they bought back in, yet I have my doubts about their outperforming the buyers/accumulators/hodlers.

There is nothing wrong with thinking about prices because basically the market has different cycles. Prices fluctuate all the time and investors need to know when is the best time to do so. You can't completely ignore the price when your financial strength is only $10 to $100, meaning the lower you buy, the more bitcoin you have. It is not always right to follow other people's advice, of course because you have to do your own research with a good strategic approach.
We have to think about the price that's why when we invest in anything we must first think about how much capital he wants to invest and we have to invest carefully. Many times it is seen that we invest in a hurry without thinking about the capital, due to which we suffer a lot in investment, so before investing, we must think about how many dollars we want to invest and how much capital we will get through this investment. We have to confirm that. When we invest, we invest to earn a substantial amount of profit from the investment, so we have to invest in such a way that we get a substantial amount of financial gain from the investment, and the success of our investment makes others interested in investing as well. Due to our big decision many times we suffer a lot in investment so due to our right decision we must check the market and invest with a long term plan.

Surely investors need to consider position size when they get started, and whether they invest with lump sum or DCA, they may still need to monitor position size, yet at the same time, they can still figure out their position size, and not become overly concerned about the extent to which their investment is profitable, especially in the first whole cycle, and also they might get distracted or deterred from investing in something like bitcoin if they are overly concerned about whether they are profits or not, especially if they come to bitcoin and they already know that it is likely to be extremely volatile in either direction in the short term, which could cause their investment to not be in profits during much of the earliest years, and surely if they are not comfortable with the level of volatility, the level of uncertainty or their desires to make sure that they are in profits in shorter timelines, then either they should adjust their position size until they are comfortable or perhaps get out of the investment (or don't even get into bitcoin) if they cannot figure out a position size level that allows them to NOT be overly obsessed with their BTC investment being in profits in relatively short timelines such as in less than a whole cycle.
sr. member
Activity: 350
Merit: 255
September 17, 2024, 10:36:12 AM
There is nothing wrong with thinking about prices because basically the market has different cycles. Prices fluctuate all the time and investors need to know when is the best time to do so. You can't completely ignore the price when your financial strength is only $10 to $100, meaning the lower you buy, the more bitcoin you have. It is not always right to follow other people's advice, of course because you have to do your own research with a good strategic approach.
We have to think about the price that's why when we invest in anything we must first think about how much capital he wants to invest and we have to invest carefully. Many times it is seen that we invest in a hurry without thinking about the capital, due to which we suffer a lot in investment, so before investing, we must think about how many dollars we want to invest and how much capital we will get through this investment. We have to confirm that. When we invest, we invest to earn a substantial amount of profit from the investment, so we have to invest in such a way that we get a substantial amount of financial gain from the investment, and the success of our investment makes others interested in investing as well. Due to our big decision many times we suffer a lot in investment so due to our right decision we must check the market and invest with a long term plan.


I just want to bring to your notice that you have mis quote another user, please you can check very well to avoid further mistakes in subsequent times.
apart from the fact that he quoted the wrong person, it seems that he has misunderstood the meaning of Thinking about the Bitcoin price as used in the context of the quote he is referring to.

The person he's quoting is suggesting that it's best to be concerned about the price that one is buying his Bitcoin as it's a way of buying at a cheaper rate which is same as timing the market before eventually buying. He on the other hand is looking at it from the angle of doing proper planning and ensuring that we're investing with the right amount. Those are two different things and As we continue in our discussion, it's best we try to understand the angle the next person is coming from and come into the discussion with a balanced understanding so our point don't go off as one that doesn't relate well with the line of thought we've established here.
sr. member
Activity: 308
Merit: 256
September 17, 2024, 10:22:56 AM
There is nothing wrong with thinking about prices because basically the market has different cycles. Prices fluctuate all the time and investors need to know when is the best time to do so. You can't completely ignore the price when your financial strength is only $10 to $100, meaning the lower you buy, the more bitcoin you have. It is not always right to follow other people's advice, of course because you have to do your own research with a good strategic approach.
We have to think about the price that's why when we invest in anything we must first think about how much capital he wants to invest and we have to invest carefully. Many times it is seen that we invest in a hurry without thinking about the capital, due to which we suffer a lot in investment, so before investing, we must think about how many dollars we want to invest and how much capital we will get through this investment. We have to confirm that. When we invest, we invest to earn a substantial amount of profit from the investment, so we have to invest in such a way that we get a substantial amount of financial gain from the investment, and the success of our investment makes others interested in investing as well. Due to our big decision many times we suffer a lot in investment so due to our right decision we must check the market and invest with a long term plan.


I just want to bring to your notice that you have mis quote another user, please you can check very well to avoid further mistakes in subsequent times.

Secondly, Bitcoin investment shouldn't be seen as a burden where you can be considering much about capital, invest only with an amount that you can be comfortable with conveniently without seeing it as a stress, that is one of the reasons why the DCA strategy dominates our discussion because it allows investors to gradually grow or increase their Bitcoin size as little as possibly they can be over period of time.
full member
Activity: 504
Merit: 163
September 17, 2024, 09:15:14 AM
There is nothing wrong with thinking about prices because basically the market has different cycles. Prices fluctuate all the time and investors need to know when is the best time to do so. You can't completely ignore the price when your financial strength is only $10 to $100, meaning the lower you buy, the more bitcoin you have. It is not always right to follow other people's advice, of course because you have to do your own research with a good strategic approach.
We have to think about the price that's why when we invest in anything we must first think about how much capital he wants to invest and we have to invest carefully. Many times it is seen that we invest in a hurry without thinking about the capital, due to which we suffer a lot in investment, so before investing, we must think about how many dollars we want to invest and how much capital we will get through this investment. We have to confirm that. When we invest, we invest to earn a substantial amount of profit from the investment, so we have to invest in such a way that we get a substantial amount of financial gain from the investment, and the success of our investment makes others interested in investing as well. Due to our big decision many times we suffer a lot in investment so due to our right decision we must check the market and invest with a long term plan.
full member
Activity: 182
Merit: 131
Better days are close
September 17, 2024, 09:09:35 AM
Switching to trading practice is certainly a pretty bad idea for those who have reached the middle of the bitcoin accumulation journey. Confidence must be there to prevent that mistake especially the confidence to continue accumulating bitcoin with DCA practice without having to cash it out.
A good idea is to continue accumulating like a routine that has been passed every week.

A good criterion to strengthen us to continue to hold is certainly not to open the exchange at all times. Because often monitoring price movements will change our minds.

Trading is not a good choice for any type of people. Especially for a long-term investor, entering the trade is not advisable at all. Trades are high risk and people are lured here most of the time, considering these factors I think trades are enough to destroy an investor's investment. The trade will not only destroy the investment but also expose you to huge losses. I personally do not support trade and I am very afraid of trade. Because here I feel more likely to lose than gain. Although risk is reduced by gaining knowledge about the trade, trading is still riskier than investing. More profit can be gained from trading but the risk of losing here is more. Long-term investing is just the opposite. Although the amount of profit is less, the chance of losing is very less. So I think an investor should not enter the trade at all. A trader can opt out of trades and enter into investments, but he must enter into investments with the intention of going long-term. When a trader becomes an investor, it becomes easier for him to invest, because a trader's risk-taking capacity is high and the resulting market dump will not panic him. He will enjoy this period by learning the methods of investment.
I don't believe that trading in Bitcoin will be more profitable than investing and hodling for a long time and it wrong to say that investors who's aim and objective is to accumulate Bitcoin and HODL for long gets less profit.

As an investor your major concern shouldn't centralize on profit making at the moment but how you can be able to accumulate more Bitcoin for long.

People that trade in Bitcoin believes or think they get more profit compare to investor who accumulate Bitcoin and hodl but to me what they get is pinnut compare to what HODLers received, and making more profit in Bitcoin investment depends on how much amount of Bitcoin an investor was able to accumulate and hodl for a longer period of time. Bitcoin investment is not a get rich quick scheme.
sr. member
Activity: 350
Merit: 255
September 17, 2024, 08:12:46 AM
There is nothing wrong with thinking about prices because basically the market has different cycles. Prices fluctuate all the time and investors need to know when is the best time to do so. You can't completely ignore the price when your financial strength is only $10 to $100, meaning the lower you buy, the more bitcoin you have. It is not always right to follow other people's advice, of course because you have to do your own research with a good strategic approach.

with a financial strength that can only work with $10 to $100 at Everytime you're to buy Bitcoin, thinking about the price or monitoring the price for the best spot that's most convenience before buying wouldn't help you buy at a seemingly best price. You might be lucky that for some instance, you might buy at a lower price but even at that, because of how small the amount you're using per buy his, it will only give you a slight difference in the price you've bought Bitcoin but in terms of looking for what point you will buy enough Bitcoin, it will take a very longer time

This is what I mean, if we assume that you had $100 you've decided that you're going to use in buying Bitcoin but then, at the time the money is available Bitcoin went up to $66k. Because you feel that Bitcoin can still dip further to $46k, you might get tempted to keep waiting till Bitcoin goes down to somewhere close to that. While you're still waiting, you might end up staying for a very long period of time because we know that we can't be too sure if Bitcoin will DIP further in the next moment or go up the more. Chances are that in the process of waiting, you might not be up touching a portion of the money if care isn't tajen. On the other hand, If you ignored the price and just buy at the time you have the money, you've saved yourself from unnecessary monitoring of the price and can now focuse on getting more money you can use in your next buy.

It's not as though it's totally out of place to look at Bitcoin price, and if we're able to, we can buy at a DIP price which will be to our advantage. The only issue is when you allow it deter you from buying as at when you ought to buy all because you want to be at a small profit.
legendary
Activity: 2898
Merit: 1823
September 17, 2024, 08:02:06 AM
[edited out]
Personally, I believe that you should do what's best for your own personality and where you are most comfortable. Some people like to buy the DIP to take advantage of discounts during bear markets or during large crashes, some like DCA. There are also some people who like both. It's about YOU and your personality.
Yeah but who gives any ratt's asses about you and your personality if you don't have any BTC, then you should not be fucking around using waiting as your investing strategy,

But you may have missed the point, ser. Because those people who would be more comfortable in buying the DIP would have already bought the DIP.
How would you presume that I missed whatever point you were attempting to make without much clarity in regards to what kind of person you are talking about, and your further attempts at clarifying are also not very helpful because they are vague and they still seem to emphasize vague and even seemingly dumb strategies that involve waiting for the dip.

There are a lot of ways that people can start out in bitcoin and surely their particulars circumstances will make differences, including if they had already been buying BTC, whether they bought bitcoin on the dip or they bought bitcoin at some other time.

I think part of the justification for not to be changing the name of the thread is that you cannot get "buying the dip" out of your head as if it were subliminally a preferred way of establishing a stake in bitcoin, and surely I have no problem with buying dips or incorporating buying the dip into some of the BTC accumulation strategies, especially if buying dips does not end up involving way more waiting for dips (which is not a great strategy) rather than actually buying BTC on a regular basis (which is likely a better strategy for most people).. so surely part of the dilemma that anyone has is to figure out the extent to which he is going to be content if the BTC price ends up going up rather than going down, and if the BTC price ends up going up, has he come to a comfortable point in his BTC stacking journey that he is not regretting for not having had bought more at the lower prices, and so if someone is sitting around and allowing fiat to stack up because he is waiting for a dip, then he likely is not employing good BTC accumulation practices, financially or psychologically... even if you want to suggest vague notions that people can do whatever  they want, and most people when left to do whatever they want, end up not doing anything.. .which ends up damaging them in the end, even if they were doing what they wanted to do.  So investment in bitcoin is likely more of an active an proactive kind of behavior rather than a waiting around strategy, even if you seem to continue to enjoy to promote your buying on the dip waiting strategy.

No one made a "justification" on whether an individual should buy the DIP, or DCA, or both. Or whether an investment strategy is better than another investment strategy. Simply, merely choose the path that makes YOU comfortable in your investments.

Would that be a mistake?

¯\_(ツ)_/¯

Yes.  Your ongoing mistake is you continue to fail/refuse to be specific.  You are almost always describing some fantasy in which it might be nice to maintain some dry powder for buying BTC dips, since you are claiming that kind of a waiting for dips strategy to be more advantageous for guys who are poor, blah blah blah.  


There's a place and advantage for both Buy the DIP, and DCA. It depends on the person's personality and in which strategy he/she is most comfortable. It might be utilizing both for some individuals. Plus there's also the current situation of where the market is in. Because the bear market is over, and the Golden Opportunity of buying the DIP under the 200-Weekly SMA is gone, people will now need to DCA in regular intervals.

BUT if they want to mix in some Buy the DIP during market mini-crashes under some price-point, then why not? Buying more units of Bitcoin during DIP periods is definitely not a mistake, no?
hero member
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Leading Crypto Sports Betting & Casino Platform
September 17, 2024, 07:53:14 AM
smart investors will only make Bitcoin their main investment, and when they need money, they will use the Bitcoin they have as collateral in a lending platform, they are very smart because they realize that there are only 21 million Bitcoins and the amount cannot be increased or decreased.
No, no, no! Anyone using his bitcoin investment as a collateral is no worth regarding as smart because it makes no sense using your bitcoin to take loan on fiat. This is why we are advised to while planning on investing for a long time we also have a reliable income source if possible a stream's of income in order to avoid finding yourself in a messy situation where you would have to make such unwise decision because it's like telling an investor to stake his bitcoin for an altcoin.
How the discussion moved from buying bitcoin for long term holding to loan is what baffles me. The discussion have completely shifted to a new ground that is more or less a distraction. Why would someone doing DCA, for instance, consider taking a loan? The mere though of it simply means that the investor does not really have the cashflow needed to sustain a bitcoin investment for long term so investing in bitcoin may not be the best decision for him but to fix the cashflow. To succeed in bitcoin investment, there should be plans for emergency fund which will serves to keep the investment going when there is some development that requires money which was not seen or planned for in beginning. Without emergency funds, the investment is continuously exposed to risk. Taking a long is never in any of the process of healthy bitcoin investment.
The truth is any person that's taking loan to invest in Bitcoin shows that the person is not in for the long term. The person is basically in for the short term profit and is looking for every little opportunity to make little money by trading off the Bitcoin holding. Because the moment there is a little bullish tend and he see little profit, he/she will sell off the Bitcoin holding to repay the loan. Such people shouldn't be seen or considered as an investor.
Hahaha...so you are telling me that if I analysed the market and decided to outsmart it by investing in just a month (or even less) after carefully anticipating what would happen, I am not an investor? You are joking, I guess the ugly teachings here and other similar threads are now confusing many of you.

First, you should know that investment could be short, medium or long-term, it's part of the long-term investment plan that you HODL. Mind you, HODLing is optional, it's by choice and it doesn't make you any better investor. What makes you a better investor is what you earn from your investment and the consistency of the earnings.

While you are busy downgrading the person who invested his money and liquidated it in a short space of time and continues to repeat the process when the opportunity presents itself, they would have made multiples of what you who are HODLing make in a year. But what I don't like is collecting loans to invest, we should invest only the amount we can afford to lose, not the one that will mount pressure on us.
full member
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September 17, 2024, 07:09:01 AM

You seem to be quite mixed up in your expression of your ideas here.  DCA strategy is a way to build up your BTC holdings that is within reach of a lot of people who might not be able to lump sum invest, and it also allows ongoing investment into bitcoin rather than waiting for BTC price dips.  We surely have to get through our BTC accumulation stages prior to talking about withdrawal, and so I think that it becomes overly confusing to be talking about withdrawal strategies prior to making sure that we have reach sufficient and/or overaccumulation first, and many times, folks might go through a bit of transition phase when they are no longer really accumulating more BTC prior to getting into any kind of a withdrawal stage, since it does not make a lot of sense to spend years building up a bitcoin holdings and then to feel some kind of need to go straight into selling it.. and including that if you had been investing DCA, then your earlier DCA purchases would potentially be reaching their 4-10 year or longer timeline sooner than any of your last BTC purchases, so if you are long term investing into bitcoin rather than trading, then you should not be anxious to sell any BTC that you might have had just bought and so in that regard, your last DCA purchases might still have to wait 4-10 years or longer to start to consider whether or not to start to withdraw them.. which is also assuming that your withdraw starts once you reach a kind of overaccumulation goal, which of course, you create your own goals, even if you end up doing dumb things, no one is going to save you if you devolve into trading ideas and practices rather than an investment approach to your BTC.


You’re absolutely right. Thinking or talking about withdrawing or selling your Bitcoin when your accumulation hasn’t reached a fuck you status is more of a trader’s mindset rather than an investor’s. Investors should prioritize consistent buying using the DCA strategy and probably when they’ve achieved the fuck you status or a state of over accumulation, then they may consider selling when there’s need to.

Investors focuses more on the long term trajectory of Bitcoin, the stability of their portfolio and how best to accumulate more Bitcoin in the long run, while Traders on the other hand focuses more on short term benefits of the investment. Investors are known for their adoption of the DCA strategy which encourages them to consistently buy and accumulate more Bitcoin without considering the short term fluctuations in the market, while aiming for the fuck you status which is a great milestone for investors, and achieving this status come with so many benefits, which involves

1. Freedom all kinds of financial stress or pressure.
2. ⁠Having financial security and a solid backup.
3. ⁠Having the ability to make certain choices without feeling any sort of financial hold backs.

And until investors has achieved this status and has access to these benefits and privileges, it’s essential to prioritize consistent buying via the DCA strategy or whatever strategy that works for you, try as much as possible to avoid any kind of emotional decisions, always have the long term perspective at all times and also focusing more on wealth accumulation rather than selling for profits.
And When you’ve noticed that you’ve met your financial goals and your portfolio is in an over accumulated state, then you can consider selling or rebalancing your portfolio
member
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OrangeFren.com
September 17, 2024, 04:59:58 AM
Switching to trading practice is certainly a pretty bad idea for those who have reached the middle of the bitcoin accumulation journey. Confidence must be there to prevent that mistake especially the confidence to continue accumulating bitcoin with DCA practice without having to cash it out.
A good idea is to continue accumulating like a routine that has been passed every week.

A good criterion to strengthen us to continue to hold is certainly not to open the exchange at all times. Because often monitoring price movements will change our minds.

Trading is not a good choice for any type of people. Especially for a long-term investor, entering the trade is not advisable at all. Trades are high risk and people are lured here most of the time, considering these factors I think trades are enough to destroy an investor's investment. The trade will not only destroy the investment but also expose you to huge losses. I personally do not support trade and I am very afraid of trade. Because here I feel more likely to lose than gain. Although risk is reduced by gaining knowledge about the trade, trading is still riskier than investing. More profit can be gained from trading but the risk of losing here is more. Long-term investing is just the opposite. Although the amount of profit is less, the chance of losing is very less. So I think an investor should not enter the trade at all. A trader can opt out of trades and enter into investments, but he must enter into investments with the intention of going long-term. When a trader becomes an investor, it becomes easier for him to invest, because a trader's risk-taking capacity is high and the resulting market dump will not panic him. He will enjoy this period by learning the methods of investment.
sr. member
Activity: 378
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September 17, 2024, 03:55:35 AM

I don't agree that intending or existing investors should keep bothering themselves with what the price says, this could lead an investor to lose confidence in the said investment which may cause lack of motivation to invest in Bitcoin, despite how doubful the society has been with Bitcoin which I think is normal for people that has not been part of a particular investment shoul feel, I still believe that there are ndividuals that understands the authenticity and value accompanied with Bitcoin investment, even though you are still in the early stage of Bitcoin discussion as you said, you shouldn't be skeptical about Bitcoin investment rather it should be a matter of concern to you why many people will be in a forum like this having a discussion about bitcoin investment and other aspects of Bitcoin if not for its long-term benefits.
There is nothing wrong with thinking about prices because basically the market has different cycles. Prices fluctuate all the time and investors need to know when is the best time to do so. You can't completely ignore the price when your financial strength is only $10 to $100, meaning the lower you buy, the more bitcoin you have.

Bitcoin is designed in such a way that you can buy as little or as much as your financial strength can get you. If your financial strength is $10 to $100 you can buy with that amount since I believe that you are utilising the DCA method to invest in Bitcoin and I also believe that you are investing for the long term. How low do you think that Bitcoin can go, that your $100 can get you enough Bitcoin stash that will be enough for you? What happens if you keep timing the market and your expected price level don't materialised, does it mean that you won't make the investment? That's why investors are encouraged to invest according to their financial strength, and not to time the market . And have long term mentality is encouraged.


Quote
It is not always right to follow other people's advice, of course because you have to do your own research with a good strategic approach.
Yes Individuals are always encouraged to do their own research when necessary or when you feel that someone advice could be misleading. But there are some certain cases that even with your own researches, you will still not get it the right and at that point you will need to listen to someone that's more knowledgeable than you. when you're doing the wrong thing and someone that's more knowledgeable talked to you about doing things with the right approach that will be more efficient and productive, would you still remain in your ignorance and do things your way? You can only neglect people's advice, when proven beyond reasonable doubts that they are telling you to do the wrong thing. That's the more reason why places like this exist so we can improve our knowledge and approach of doing things which ordinarily we don't know.
legendary
Activity: 2660
Merit: 1141
September 16, 2024, 10:35:30 PM
-snip-
Buddy if you are really interested in Bitcoin as a newbie, what you actually need is the basic knowledge and before this I think you shoul have been prepared mantally and financially any other stuff can be learned when you kick start your bitcoin journey fully, i must advise that you should invest with DCA method because it enables you to constantly buy with what you can afford slowly and consistently without any form of interruption and hodl for a long-term which should be your main target as a bitcoiner.
Mental and financial aside, I think a beginner who is interested in investing in bitcoin must have a proper investment plan. They must have a goal for investing and a time frame that they want, this is intended to get the best approach to their investment. All investment plans must also be adjusted to the budget they have without ignoring the need for a reserve budget, this is important so that they do not destroy their investment plans midway.

A basic understanding of what they are investing in is clearly important and they should have learned that before they decided to invest. It makes absolutely no sense to invest in what you don't know, so they should already know what bitcoin is and how to buy and withdraw and store it.

I don't agree that intending or existing investors should keep bothering themselves with what the price says, this could lead an investor to lose confidence in the said investment which may cause lack of motivation to invest in Bitcoin, despite how doubful the society has been with Bitcoin which I think is normal for people that has not been part of a particular investment shoul feel, I still believe that there are ndividuals that understands the authenticity and value accompanied with Bitcoin investment, even though you are still in the early stage of Bitcoin discussion as you said, you shouldn't be skeptical about Bitcoin investment rather it should be a matter of concern to you why many people will be in a forum like this having a discussion about bitcoin investment and other aspects of Bitcoin if not for its long-term benefits.
There is nothing wrong with thinking about prices because basically the market has different cycles. Prices fluctuate all the time and investors need to know when is the best time to do so. You can't completely ignore the price when your financial strength is only $10 to $100, meaning the lower you buy, the more bitcoin you have. It is not always right to follow other people's advice, of course because you have to do your own research with a good strategic approach.
jr. member
Activity: 37
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September 16, 2024, 08:13:05 PM
Quote
Those who take loans are hoping that the price is going to rise and when they get profit they repay the loan. It's such a bad idea to me. Do they ever consider that they can take a loan and buy Bitcoin at $65k and the price reduced to $50k? If it is 10% interest in a year the price might take over 6 months going to one year returning to the buying talk more of making profits.

Yes!
I remember some thread on 4chan from late 2017 the OP of which claimed that his brother sold his house to buy bitcoin and when the price plummeted, he committed suicide. Never invest the money you owe.
full member
Activity: 350
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September 16, 2024, 07:46:26 PM
smart investors will only make Bitcoin their main investment, and when they need money, they will use the Bitcoin they have as collateral in a lending platform, they are very smart because they realize that there are only 21 million Bitcoins and the amount cannot be increased or decreased.
No, no, no! Anyone using his bitcoin investment as a collateral is no worth regarding as smart because it makes no sense using your bitcoin to take loan on fiat. This is why we are advised to while planning on investing for a long time we also have a reliable income source if possible a stream's of income in order to avoid finding yourself in a messy situation where you would have to make such unwise decision because it's like telling an investor to stake his bitcoin for an altcoin.
How the discussion moved from buying bitcoin for long term holding to loan is what baffles me. The discussion have completely shifted to a new ground that is more or less a distraction. Why would someone doing DCA, for instance, consider taking a loan? The mere though of it simply means that the investor does not really have the cashflow needed to sustain a bitcoin investment for long term so investing in bitcoin may not be the best decision for him but to fix the cashflow. To succeed in bitcoin investment, there should be plans for emergency fund which will serves to keep the investment going when there is some development that requires money which was not seen or planned for in beginning. Without emergency funds, the investment is continuously exposed to risk. Taking a long is never in any of the process of healthy bitcoin investment.
The truth is any person that's taking loan to invest in Bitcoin shows that the person is not in for the long term. The person is basically in for the short term profit and is looking for every little opportunity to make little money by trading off the Bitcoin holding. Because the moment there is a little bullish tend and he see little profit, he/she will sell off the Bitcoin holding to repay the loan. Such people shouldn't be seen or considered as an investor. Because the approach adopted in the first place is not that of an investor but that of traders, because only traders will have that kind of mentality. And these set of people will never listen to what other people will tell them. That's why I don't give a fuck about them when they run into trouble eventually.
Those who take loans are hoping that the price is going to rise and when they get profit they repay the loan. It's such a bad idea to me. Do they ever consider that they can take a loan and buy Bitcoin at $65k and the price reduced to $50k? If it is 10% interest in a year the price might take over 6 months going to one year returning to the buying talk more of making profits.

My solid advice to investors is to get out of debt. Invest with what you have. Its better to have X amount of Bitcoin without debt, than having an X + Y amount of Bitcoin with debt. It may turn out to be X - Y which means there won't be any profit at all if it he doesn't get the profit within the loan timeframe. Such investors will end up paying the interest plus the capital without any profits.
hero member
Activity: 2520
Merit: 783
September 16, 2024, 05:58:53 PM
A good criterion to strengthen us to continue to hold is certainly not to open the exchange at all times. Because often monitoring price movements will change our minds.
The means of storing your Bitcoin is one of the most important aspect of the Bitcoin accumulation process because any mistake in the storage will make all your efforts wasted. Holding Bitcoin in an exchange is a very bad practice because if anything happens to the exchange, your Bitcoin will be gone. Don't forget so fast how many people have lost money to hacks and some funny practices that those centralized exchanges do. Don't forget MtGox, FTX, Bitforex, and recently Indodex exchange hacks and how people lost fortune. This is why using exchange for holding Bitcoin is like gambling with your wealth because you do not own the private keys. The best option will be to use hardware wallet or any wallet you control the private keys like Electrum.



They are exposing their selves on more higher risk if they let their balances stay on exchange since there's huge risk to lose their money since those platforms is vulnerable for attacks or scamming by its own owners. So to avoid losing money from unwanted incident grabbing secured wallets which they have full control is a must. People need to remember that Not your keys, not your coins so they doubt to trust third party platforms when dealing their funds.

So everything to go smooth a good wallet should be acquired or used so that there's no other bothering feeling will disturb them and they can stay on their lane focus on their accumulation without thinking other stressful events which is not necessary to get. Being in control is somehow make you successful that's  why always choose the best and don't get lazy in terms of security since this is more important especially that we are for long term investment with bitcoin.


hero member
Activity: 2268
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September 16, 2024, 05:04:49 PM
Just buy whenever you want to. It's true that buying the DIP isn't only for the traders but it is for everyone, literally all of us.
And if you're not that much carried away by buying the DIP, then it only means that you're not pressured at all.
This should be what investing is, we're free to do it whenever we want and no pressures at all because you know how long the market will stand for.
it's only on an exceptional case and mostly applicable for some individuals that already  have a good chunk of Bitcoin that we can understand that they know what they are doing by trying to buy the dip if not, most of the people that tries buying the DIP ends up trading or gambling with thier investment. As a starter or someone that's likely at his first two to three years of Bitcoin accumilation and that can't buy much Bitcoin at a single time, it should never be a serious consideration that you want to buy at a DIP price. It might look a bit rewarding that you were able to buy at the time Bitcoin was $50k and then afterwards it went up to $60k. Though looking at it without doing an actual analysis of it might seems that you've made a good decision but when you critically look at it, What it will do to you is that you're going to make yourself believe that you should wait till the price goes down to that extent before you should buy so you wouldn't be at a disadvantage buying above a range of price you've tagged as a DIP price subconsciously. It's only going to slow down your accumilation routine while you're trying to wait for the best time to buy while if you look at it real good, the difference between buying at these prices we've seen so far if your DCA amount isn't much doesn't really matter.

Even though some people might still misunderstand the buying approach of microstrategy to mean that he's Buying at the dip, what's likely the case is that he's buying when he has the resource to doing so and isn't paying much attention to the prices. If big and well extablished investors like that will still DCA consistently for the long term, it shows that trying to time the market for a DIP prics before buying even when we don't even have enough resource to buy with is an absolute waste of time.
That's why, buying whenever you are able to is the best thing. You buy the dip that you believe is the dip.
Because if someone who has done that and are looking for any validation from elsewhere, thinking that he/she hasn't bought the dip.
It is when the doubt starts and might discourage one from buying more. DCA, buy when you are ready and comfortable at all.
No pressures, no hassles, do what you have to do.
sr. member
Activity: 434
Merit: 253
September 16, 2024, 04:30:10 PM
A good criterion to strengthen us to continue to hold is certainly not to open the exchange at all times. Because often monitoring price movements will change our minds.
The means of storing your Bitcoin is one of the most important aspect of the Bitcoin accumulation process because any mistake in the storage will make all your efforts wasted. Holding Bitcoin in an exchange is a very bad practice because if anything happens to the exchange, your Bitcoin will be gone. Don't forget so fast how many people have lost money to hacks and some funny practices that those centralized exchanges do. Don't forget MtGox, FTX, Bitforex, and recently Indodex exchange hacks and how people lost fortune. This is why using exchange for holding Bitcoin is like gambling with your wealth because you do not own the private keys. The best option will be to use hardware wallet or any wallet you control the private keys like Electrum.

legendary
Activity: 1204
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September 16, 2024, 04:23:59 PM
Switching to trading practice is certainly a pretty bad idea for those who have reached the middle of the bitcoin accumulation journey. Confidence must be there to prevent that mistake especially the confidence to continue accumulating bitcoin with DCA practice without having to cash it out.
A good idea is to continue accumulating like a routine that has been passed every week.

A good criterion to strengthen us to continue to hold is certainly not to open the exchange at all times. Because often monitoring price movements will change our minds.
hero member
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September 16, 2024, 04:19:19 PM
Exactly.

Investments aren't mostly for short term although if you're in a jackpot and your investment pumped a lot in a short period, that's for you to decide.

But in the case of Bitcoin, this is better for long term holds.

Is there anything like jackpot on Bitcoin investment? Because I have not actually heard of it before, do you mind explaining it? Or is it when the Bitcoin price moves very higher as you are holding it that's why is considered to be jackpot?
We're not the only one that invests here, there were those that have been holding for years and no doubt that they're in a jackpot and have profited a lot to the value of the Bitcoins that they're holding.

And yes, it's about when the price has increased higher and from the bought price you've made for Bitcoin, you can consider that for yourself as a jackpot when you've profit from it.

Well is the investors decision on what they intend for there investment because anybody who has made up there mind to invest on Bitcoin is not supposed to get too much attached with getting or wining a jackpot because there is a huge difference from a short term profit and long term profit because is obvious Long term will always supersede the short term.
Both are good as long as they're profit but many of us here prefer the long term because we've seen results, greater results.
sr. member
Activity: 378
Merit: 285
September 16, 2024, 01:34:56 PM
smart investors will only make Bitcoin their main investment, and when they need money, they will use the Bitcoin they have as collateral in a lending platform, they are very smart because they realize that there are only 21 million Bitcoins and the amount cannot be increased or decreased.
No, no, no! Anyone using his bitcoin investment as a collateral is no worth regarding as smart because it makes no sense using your bitcoin to take loan on fiat. This is why we are advised to while planning on investing for a long time we also have a reliable income source if possible a stream's of income in order to avoid finding yourself in a messy situation where you would have to make such unwise decision because it's like telling an investor to stake his bitcoin for an altcoin.
How the discussion moved from buying bitcoin for long term holding to loan is what baffles me. The discussion have completely shifted to a new ground that is more or less a distraction. Why would someone doing DCA, for instance, consider taking a loan? The mere though of it simply means that the investor does not really have the cashflow needed to sustain a bitcoin investment for long term so investing in bitcoin may not be the best decision for him but to fix the cashflow. To succeed in bitcoin investment, there should be plans for emergency fund which will serves to keep the investment going when there is some development that requires money which was not seen or planned for in beginning. Without emergency funds, the investment is continuously exposed to risk. Taking a long is never in any of the process of healthy bitcoin investment.
The truth is any person that's taking loan to invest in Bitcoin shows that the person is not in for the long term. The person is basically in for the short term profit and is looking for every little opportunity to make little money by trading off the Bitcoin holding. Because the moment there is a little bullish tend and he see little profit, he/she will sell off the Bitcoin holding to repay the loan. Such people shouldn't be seen or considered as an investor. Because the approach adopted in the first place is not that of an investor but that of traders, because only traders will have that kind of mentality. And these set of people will never listen to what other people will tell them. That's why I don't give a fuck about them when they run into trouble eventually.
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