I think it has been emphasized by many contributors here that there can never been an ideal percentage of funds that should be allocated to Bitcoin investment because it is something the individual should work out based on several factors. The percentage two individuals receiving the same salary will invest in Bitcoin differs because both might have different responsibilities. It is therefore not proper to allocate a percentage of personal income an investor will invest in Bitcoin. Another thing to also put in mind is that people have different priorities even as they plan to invest in Bitcoin. Someone might prioritize investing in Bitcoin and will allocate higher percentage than another one that might also have other priorities and can therefore go for lower percentage to be invested in Bitcoin.
What is most important is to invest an amount that will not represent so much financial burden on the investor so that the investment can be held for a long period of time because it is in long term investment that Bitcoin is best. This bring to mind the concept of DCA that allow the investor invest in a manner that will not be so much stress financially.
Bitcoin investment requires good personal planning and not based on the other person's idea of amount to invest because every individual has it own expenses and budget. Just invest according to your financial strength, the amount that you can afford to invest which is not going to stress you. When the understanding of the amount of money that should be invested in Bitcoin it makes every easy. It is not about the amount of money you invest in Bitcoin but what matters is if you can be consistent and be able to hodl that is what matters. What is most important is to invest an amount that will not represent so much financial burden on the investor so that the investment can be held for a long period of time because it is in long term investment that Bitcoin is best. This bring to mind the concept of DCA that allow the investor invest in a manner that will not be so much stress financially.
Since we have DCA method of investing their is no need for one trying to invest so much that will later be a burden to them, not enabling one to meet up with financial demands. Invest with amount that you can afford, this always ends with a successful outcome at the end.
I frequently suggest that guys attempt to invest into bitcoin as aggressively as they are able to without recking themselves.
Of course, guys might not know the meaning of those words, so in the end, it is better to invest in a way that the guy does not end up having himself forced out of the game, partially or in total.
The more aggressive that anyone tries to invest into bitcoin, the more important it is to have good and solid ways to assess cashflows and discretionary income in order to not overdo the investment, ssince it is better to stay in the game rather than to get forced out of it because you fucked up and over did it.
Each person is responsible to figure out his own situation and how aggressive that he is able to be, so frequently it is better to error on the side of having a cushion and not being too aggressive until spending some time learning and practicing in regards to carrying out a reasonable investment system, frequently DCA can come in quite handy to attempt to figure out reasonable boundaries.
Even though you JayJuanGee have put some light in differentiating bitcoin from every other shitcoins, I will love to make some additions to what bitcoin is.
Perhaps, lots of people certainly do not get the facts about bitcoin as a leader in its own world and differentiating it from other cryptocurrencies (shitcoins) seems hard for some people, just as you JayJuanGee have said, that bitcoin is not just a leader for a mere sake of being a leader but it has brought something to the table, some people may not get your point even though its very clear but i will have the stress to say that bitcoin is a paradigm and a paradigm that has shifted our thinking from just a mere circulation of fiat to a digital currency/gold as some call it, that doesn't just keep the value of your assets but also increases its values in a long term.
Bitcoin as a paradigm has brought to the table the opportunity which every other shitcoins has seized to be in existence even though we might not going to be seeing most of them in few years. Having to put bitcoin in the category of all those short term existence coins would not make any sense which is a more reason why we should know the true nature and facts about bitcoin to differentiate it from mere scams that pose to be a coin of value and/or seeking attention for its purpose of scam deceiving some people with an unrealistic point that its an improvement of bitcoin the original, which we all know that bitcoin has no improvement outside it's protocol. It's even more right and/or correct to liken bitcoin to the master piece of cryptography and every shitcoins to be a copy which is not the original and can never be the original than to put bitcoin the the same category with those shitty coins.
I don't really disagree with anything you said - yet at the same time, part of the reason that any shitcoin or any other technology to really contribute in a way to throw bitcoin out of its place has to be 10x better, since bitcoin invented something (or discovered) in such a way that such a thing had not been possible previously, and in that case the paradigm had been shifted by a new thing being possible that had previously not been possible, which is that bitcoin brought forth a system of transferring both information and value at the same time with ways of verifying it in a way that there was no way to copy the value.. and so yes solving the double spend problem in several quite ingenious ways.. and establishing itself as a protocol layer kind of a change in which other systems can build upon it, yet if there were a desire to actually change the protocol, then such change would be required to be 10x better in order to inspire moving from bitcoin to the new protocol... no shitcoins have shown themselves even close to being able to inspire moving over to them from bitcoin.Perhaps, lots of people certainly do not get the facts about bitcoin as a leader in its own world and differentiating it from other cryptocurrencies (shitcoins) seems hard for some people, just as you JayJuanGee have said, that bitcoin is not just a leader for a mere sake of being a leader but it has brought something to the table, some people may not get your point even though its very clear but i will have the stress to say that bitcoin is a paradigm and a paradigm that has shifted our thinking from just a mere circulation of fiat to a digital currency/gold as some call it, that doesn't just keep the value of your assets but also increases its values in a long term.
Bitcoin as a paradigm has brought to the table the opportunity which every other shitcoins has seized to be in existence even though we might not going to be seeing most of them in few years. Having to put bitcoin in the category of all those short term existence coins would not make any sense which is a more reason why we should know the true nature and facts about bitcoin to differentiate it from mere scams that pose to be a coin of value and/or seeking attention for its purpose of scam deceiving some people with an unrealistic point that its an improvement of bitcoin the original, which we all know that bitcoin has no improvement outside it's protocol. It's even more right and/or correct to liken bitcoin to the master piece of cryptography and every shitcoins to be a copy which is not the original and can never be the original than to put bitcoin the the same category with those shitty coins.
I doubt that bitcoin is merely #1 because it started first. I would not even claim that bitcoin remains on top because it is perfect, since bitcoin is not perfect. So far, nothing has come along that has been a sufficient enough improvement over bitcoin in order to take away various network effects. It surely is possible that something could come into place that is actually sufficiently enough better than bitcoin in order to remove it from its currently top position, yet surely I have my doubts.
At this point, since bitcoin is at least 10x and even more than 10x better than gold and better than the dollar, bitcoin is going to continue to take market share from each of those and both of those... so the process of bitcoin taking away market share from various inferior incumbents is ongoing and may take 50-200 years to play out.. even though we might also have gradually and then suddenly, that could cause such transition to take place more rapidly.
Surely something better than bitcoin could come about.. but why? bitcoin is doing a pretty damned good job right now.. and surely, even bitcoin is being tested out to be able to determine whether bitcoin is really truly more than 10x better than gold and the dollar, and people (the market) is figuring out these matters, and hopefully those of us who are investing into bitcoin are experiencing the benefits of being able to identify bitcoin as the superior asset and currency as compared with those inferior forms.
Going back into Bitcoins features then it does work and could be able to do things accordingly or something that do speak about its utility but we cant be able to avoid not to say that one of the issues on which we can be able to say towards Bitcoin is into its scability issues on which it cant be able to handle out huge transactions on which once the network having that kind of spam transactions then fees do goes up into the roof and thats one of the main reason on why it cant be possibly be applied as a main payment option or something that will really be in main usage because of that issue.
Sure, you might consider bitcoin to be inferior or to have some defects in regards to some inabilities to have all of the world's payments flowing through its first layer, yet bitcoin still seems to be functioning pretty fucking great even if guys like you are whining that you cannot use it to buy a coffee... If I have a wallet and you have a wallet and we are in parts of the world in which some people or governments do not want us to transact, yet you and I are able to communicate, and I want you to send me $300 million in order that I can hold it for you or perhaps for some good or service that I am providing to you, and what the fuck are you going to do? Are you going to try to send me that transaction with less than $1 fees? Surely you may well even be willing to spend $1k in fees to make sure that I get that transaction right away, and no one can stop you from sending it to me as long as we are able to communicate and I am able to give you a receiving address. Isn't that powerful? and I don't give any fucks if the fees are $1 or $10k, I may still want to be able to receive your transaction without anyone stopping me.
Now you might whine and say that you would prefer the fees to be lower, and so yeah, the extent to which we might become concerned about the fees has to do with how much we want to send, and if you were sending me $10k rather than $300 million, then I may well want to ensure that the fees are less than $500, since even $500 would be a 5% fee, and perhaps I would want the fees to be less than $100, which the fees would be less than 1%, and partially the fees have to do with how ,much traffic is happening on Bitcoin's main chain, but the fees also have to do with whether you have the total balance that you want to send me in one address or if you are combining several addresses in order to be able to achieve the amount of value that I am wanting to receive. Of course, with the earlier amount of $300 million, that is nearly 4,500 bitcoin, so it surely could be logical that you would hold that in several different addresses, yet $10k is merely around 0.15 BTC, so it could well be the case that you have all of that amount in one bitcoin address, yet how folks have their bitcoin (UTXOs) divided and/or managed could affect the fees that they are paying for transactions to go through and how quickly they would like the transactions to go through.
Somehow, we can be able to see that network conditions doesnt always clogged off on which it will be resulting into that high fees. Most of the time it will really be sitting around few cents upto dollar which basing up on the network condition.
Sure there is power in bitcoin in regards to peer to peer, yet if we are engaging in lower level transactions such as less than $100, we may well want to consider second layer methods in order to compliment the power of bitcoin that likely has to do with the higher level abilities to move greater levels of money around rather than the smaller transactions.
I am not trying to poo poo the ability of poor people to transact with bitcoin, even though some of these lower level transactions might not be reasonably to expect to be done onchain... so there may well be lightning network and/or other kinds of second layer methods that might help with those kinds of transactions, including that sometimes some folks will also use shitcoins to make those lower level kinds of transactions, which does not necessarily discredit bitcoin's power as an underlying mechanism that might not be as useful and reliable to carry out some of the lower value transactions, which also is going to vary with the passage of time which levels of BTC amounts are economical and/or feasible to send on chain versus using some other way to send whether connected to bitcoin or using some other value transaction mechanism.
If we do really tend to look around then there are other projects is way more than better when it comes into features but still its not that enough on trying to dethrone Bitcoin into its place.
Yeah.. fuck shitcoins and their dumbass talking points about bitcoin not being good enough and/or powerful enough, when bitcoin has already won in terms of certain kinds of transactions not being stoppable, and just because some of the smaller transactions might sometimes have some difficulties does not undermine bitcoin's already existing unstoppable power when we have two parties with private wallets and the receivers ability to communicate his receiving address to the sender... and yeah, we might be needing to talk about more than $100 to really feel the power of such ability to transact directly and no one being able to stop us and it makes even more power the more that we are able to transact, as the higher level examples of anywhere between $10k and $300 million, and points in between and amounts higher and lower than that range as I already mentioned..
And to what extent is the family's support for the investment you made, do they support you or do they not support you. The investment I made was only known to my wife and she was quite supportive of my choice to invest in Bitcoin. I even want to teach her about how to invest in Bitcoin, she must be able to do that because one day when we die then she can follow up or she can withdraw the Btc that we have save.
Actually when talking about support I personally feel lucky because even I know bitcoin and moved from hating to someone who is and recognizes bitcoin thanks to my closest family but there is or is not actual support it does not matter in my opinion because in the end when talking about bitcoin adoption it comes back to each person and everyone has no right to intervene in what is done even though it is family.Even though his views are different as long as it is not a problem and does not harm then I don't think it will have a big impact even though maybe this should still be discussed but in the end the decision of course we have to take ourselves and other people including family even though they don't like or don't support it shouldn't change the stance.
Bitcoin is for everyone but not everyone can be successful and know what bitcoin is.
Certain family relations include fiduciary duties, and surely there can be folks who are not very responsible fiduciaries and/or not very good care takers, and there can be messed up relations (and unfair situations), so we cannot necessarily presume that each person can do whatever they like when they have responsibilities and/or duties that they may or may not be good at carrying out or understanding how to effectively balance, especially if they might also be dealing with a person (or persons) who may or may not be very agreeable in regards to investing into bitcoin (or how to manage bitcoin, as an investment and/or as a family asset - or do you want to say that it is not a family asset, which is not always clear in regards to who actually owns the asset.. we cannot resolve these kinds of questions (or potential disagreements) in this thread).
Hope everyone bought the dip, might be the last time we see 65k for a while!
Hard to know.
might never happen again, or maybe it will?
I am not going to proclaim to know, but like you suggest, it does not hurt to buy such dip, just in case such price levels never comes back ever again.
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..... There is more Bitcoin can do, it can be modified in several ways that will bring more benefits to us. Still, no one else should be allowed to unless Satoshi himself or even no modification should be done at all. Fuck off with your factually inaccurate idea that bitcoin can ONLY be modified with the agreement of Satoshi.
Satoshi has been dead or not around since late 2010, and bitcoin has continued to survive and has had some modifications since Satoshi's disappearance from the project, too.
I don't claim to know a lot about various technical aspects of bitcoin, yet it does not seem to be the case that bitcoin has yet ossified, yet I am not completely sure what would happen if it did, since sometimes bugs and/or problems could be identified later down the road, and there likely is some value in regards to various technical people knowing how the code works to be able to allow consensus to take place if some changes might end up needing to be made, so then the nodes have to agree to run the changed code in contrast to their running code that might have some issues.
Hope everyone bought the dip, might be the last time we see 65k for a while!
Due to lack of funds and dip wise my investment did not come due to which I could not purchase. But I have my dip purchase date on 25,10,2024, because the emergency fund I had is very small. So currently could not buy this 65K dip at most, only 2 more days will be available so I can buy the right dip at the right time.
I doubt that it makes much difference if you buy your 0.001 BTC at $65k or at $69k. .. It is either going to cost you $65 or $69.. no big deal.
If you happen to be buying 0.01 or maybe even 0.1 BTC, then the numbers are a bit different and it might cost you $650 or $690 or maybe with the higher amount it costs you $6,500 or $6,900., but still I doubt that it matters very much if you happen to end up buying at slightly different prices and you are not able to capture the dip in terms of your BTC purchase this time around.
Let's say with your forum registration of August 2023, you have been buying BTC weekly, and so whatever is your BTC purchase amount, you might be buying 1/60th the size of your stash, since you have already been buying every week, and surely someone else like Greyhats has been accumulating BTC since May of 2021, so whatever happens to be his purchase amount on this week, since he has been accumulating BTC for close to 180 weeks, so maybe whatever his purchase amount it may ONLY rise to the level of (at best) about 1/180th the size of his whole BTC stash, and perhaps even smaller than that..so the longer that we are accumulating BTC, then each incremental additional purchase is not really adding great amounts to our stash, even though we may well be continuing to chip away at stashing a larger and larger stash so that we are coming ever closer to the potentiality of reaching some kind of a BTC stash size that we might start to consider to be approaching our entry-level fuck you status or whatever target we might be working towards reaching.
Hope everyone bought the dip, might be the last time we see 65k for a while!
Due to lack of funds and dip wise my investment did not come due to which I could not purchase. But I have my dip purchase date on 25,10,2024, because the emergency fund I had is very small. So currently could not buy this 65K dip at most, only 2 more days will be available so I can buy the right dip at the right time.
There is no point regretting on missing out on a particular dip because dips never end. Surely more dips will come and may even come at your advantage than the previous. Sometimes we regret to have missed a dip -%10 today not knowing that it might dip by -%15tomorrow. Since bitcoin is volatile there is no need to worry much if previous dip has passed or not.Dips are not guaranteed to come.
As you mentioned, dips might come and they might not, and they might be greater than today's dip and they might not. They also might not ever dip again in terms of we could enter a stage of going up without dipping back to our current prices, ever. We cannot really know with any confidence, even if there are people who say bitcoin always dips, which is true in the abstract, but it does not mean that it is going to return to its price right now and it does not mean that it is going to dip down to prices that were witnessed earlier today. The bitcoin price might go up to $80k and then dip back down to $75k and that is an actual dip, but it does not do any good to guys who have been fucking around and failing/refusing to buy in the past year...or whatever timeline that they have been waiting for bitcoin prices to come down... Remember last year around this time, BTC prices were around $26k, and there were quite a few guys waiting to buy and even proclaiming that BTC needed to revisit $20k, even though the 200-WMA was around $28k at that time.. ..so yeah, sure some of those guys might have bought in the last year, but some of them are still whining about the BTC price going up rather than down and/or about their previous failure/refusals to prepare themselves for up.
Otherwise I agree with your point about no need to have regrets, since either we are ready and able to buy BTC on the dips or we aren't and I doubt it is a big deal in the whole scheme of things and the whole scheme of bitcoin accumulation, as long as we are mostly accumulating BTC in the event that we are considering ourselves to be in the accumulation stage of our bitcoin journey.
Hope everyone bought the dip, might be the last time we see 65k for a while!
Due to lack of funds and dip wise my investment did not come due to which I could not purchase. But I have my dip purchase date on 25,10,2024, because the emergency fund I had is very small. So currently could not buy this 65K dip at most, only 2 more days will be available so I can buy the right dip at the right time.
As-Soon-As does not need to have 3 months emergency funds prior to investing into bitcoin. If As-Soon-As is somewhat new to bitcoin investing (only a little over a year according to his forum registration date), he can build up his BTC investment and his emergency funds at the same time. I frequently like to suggest to newbies to build up the BTC and the emergency fun at the same pace, so if he has gotten to 2 months of BTC investment then his emergency fund should be at least 2 months, and once his emergency fund gets up to 3 months, then he has a bit more liberty to be more aggressive in his bitcoin investing, even though 3 months might not be a lot of cash reserves to have, depending on how reliable the income and/or the steadiness (predictability) of the expenses.
