Topic: Buy the DIP, and HODL! - page 70. (Read 129579 times)

The price of Bitcoin can never remain stagnant for a longer period, Bitcoin is not a stable coin and therefore it would always experience volatility, but the good thing about investing for a long-term is that the investor would always recover their lose from any dip whenever there's an upsurge and that's just it, an investor mustn't wait to make 2x or 3x before they'll say they've profited from Bitcoin, the profits comes periodically at every upsurge you encounter while using the DCA method, investors should understand that Volatility is never a problem for long-term investment with DCA so far they go funds to continue buying.

An investor would only be successful with the DCA method when they maintain consistency and carry out discipline in managing their investments, infact those are the basic things every investors are supposed to understand while o their investment journey. One thing that's been repeatedly been talked about concerning Bitcoin investment is that volatility must always occur therefore every investor must experience lose along the line but then the DCA method enables investors to recover your lose when there's an upsurge and so far the investor continue buying periodically using that particular method for a longer period then success is definitely guaranteed.

You are absolutely correct, some people think that since DCA is the best and reliable strategy that success is sure or certain not knowing that they are the one that will make the strategy work. Someone's success in Bitcoin investment whether using the DCA, lump sum, buy Dip depends on the investor's consistency, discipline and the ability to manage investment and I want to let us know that every individual has an atom of management skill in them but is just left for them to build or grow it.

All these people get lost Opportunities because of their stupid thinking, because there is no guarantee that Bitcoin will go down again, They will miss this opportunity now and regret it later. There are many investors who make this mistake, they wait for bitcoin to fall and then it rises and then they only regret it, and those who indulge in such thinking today will regret it in the future. They will only lose opportunities but never invest at the right time.

The price of bitcoin will decrease next month, or the price of bitcoin will decrease after the next 15 days, or if the price decreases a little more, then I will invest, such thoughts are very dangerous, they should refrain from them. As a result of this they will always only lose opportunities but never invest the right time. They only need to focus on DCA, DCA strategy is always the best effective strategy, in this strategy an investor can literally invest any amount of money within his ability (without waiting for bitcoin price to drop) on a weekly monthly basis and will definitely profit in the long run.

You just hit the nail at the head those that stop accumulating Bitcoin now will definitely regret not accumulating Bitcoin now because they believe or think that the price of Bitcoin is high now will definitely miss out the opportunity of accumulating enough Bitcoin believing it's price will go down but might keep on increasing in price.

Procastination is never good when it comes to Bitcoin investment I will buy next month not this month that is how the opportunity of accumulating more Bitcoin is passing by the best is to start accumulating Bitcoin now regardless of the price level on continue to hodl because BTC will definitely do well in the future, with the DCA method of accumulating Bitcoin one can buy little by little either weekly or monthly and hodl than waiting for the price of Bitcoin to drop before accumulating Bitcoin.

Buy now to avoid future regrets. Otherwise, you will keep on missing the opportunity to buy bitcoin while the price is still not too high. Don't be like others who procrastinate and get influenced by others on their decision making, instead do your own research and analyze the best thing you can do for now, so you won't keep regretting in the future wishing you never doubted the price of bitcoin.

But in the end everything also remains the same regardless of whether it is called a correlation or whatever in one point everything (shitcoin) refers to the movement of bitcoin because after all bitcoin is the king so in this case we do not need to dramatize further because surely the focus will still be on bitcoin not shitcoin.

Although the strong statement about shitcoin stands alone for example but in terms of quality it is clear that the comparison will be very far when juxtaposed with bitcoin which in the end we have a definite condition where bitcoin remains the best and things like that cannot be debated anymore.

On the other hand, for now I think the discussion is too deviated because in the end our initial focus remains on collecting and buying bitcoin so that it will seem to make less sense when saying anything else, let alone the establishment of shitcoin which is said to be independent considering that it is too deviated from the initial discussion.

It is very important for us to face the record straight and concentrate on the discussion of the day, we are discussing about realistic investment not a kind of short-term gambling stuff, if you are making comparison I think you shouldn't be mistaking Bitcoin for altcoin or whatsoever shitcoin out there because the difference is clear.
What points are you trying to make when you say the growth of altcoins are faster when you have already said Bitcoin investments are safe, if may ask, will you consider investing in a realistic and safe asset than investing in an unsafe asset thats capable of dumping totally and keeping you in the state of regret? do you also know that this shitcoins and altcoins stuffs do not increase on their own, the price of Bitcoin controls them all, Bitcoin must appreciate in price before they can increase, though everyone is entitled to their decisions and actions which is personal but I want you to know that this altcoin of a thing is more like a short term investment in form of a gambling and thats not what this thread represent, it is better for you not to go further on this in other not to pass a wrong investment mindset to newbies.

Please I will advise if you are having the mindset of investing in altcoin or shitcoin refrain from it because those are over hyped and unrealistic short-term investment, think towards buying Bitcoin with a good strategy like DCA method thats capable of making you relevant staedily and slowly in the system without any form struggle instead of going ways that can quench your zeal to invest if ugly events takes place, you have already said altcoin dip is more risky, so why indirecting hyping them to the notice of newbies here, please think of bitcoin investment always not altcoin to avoid regrets.

I agree with you that using the DCA method to accumulate Bitcoin does not guarantee that we will be getting two times our investment at the end of the year because Bitcoin prices can stay stable for several months. The DCA method is easy to understand, but it is dependent on the amount of money and how the individual wishes to invest. However, some individuals who invest using DCA methods, invest once a week, whereas some buy once a month, however, it's necessary to understand that the DCA method is always profitable for long-term investors.

Furthermore, using the DCA method requires an ongoing strategy where buyers are not bothered by the changing price of Bitcoin and continue to accumulate for a long time because the specific purpose of using the DCA method is that you can buy at a high price and buy at a low price for a long time until the investors become successful with their investment.

There is no better way to put it than you already did. I think the moments of indecision are long gone and we are now we are heading to the point that one thing is bound to happen which is either a massive dump or a massive rise. And I have the conviction that the bulls will win as everything is aligned to this line of thought. The market have lingered within a region, giving people enough time to buy as much as they can using any of the method they feel comfortable with. Just like you said, we only have this month to organize our bitcoin collection before it becomes a thing of regret for those still soaked in procrastination. With the US election around the corner, we are truly close to seeing price in a new region different from where it has been ranging post halving.

Now I understand that the DCA method is very long-term. This means that it does not matter who bought Bitcoin on what date in the month, because over time, the moving average will be the same for everyone, over a very long distance. But this is true, because the method does not assume short terms.

Also, after thinking, I found a plus in the DCA method: you do not need to constantly worry about the price of Bitcoin at the moment, and this advantage eliminates stress and constant price checks.

It's smart to keep the focus on bitcoin and stay committed to a solid investment like bitcoin, some individuals need to limit their exposure to shitcoins because they offer unrealistic juicy promises that can be tempting, but often leads to disappointment. Keep your focus sharp and not getting lured into the hype. I wonder why some folks need to learn the hard way  before realising that they are fucked by shitcoins, instead of staying focused and committed on the long term benefits of bitcoin.

It crucial to to recognise bitcoins position as the leader in this space. Shitcoins might have their independence but the overall market are heavily influenced by bitcoin.

Thank you @JJG for the clarification and making me understand the order at which reserve funds and emergency funds are applicable. Initially I was thinking that it was emergency funds that should be our go to before reserve funds, but with your detailed and simplified explanation I now understand the complete difference between the two funds and which one should be utilize first before the other one. For your explanation I have also understood that at some point when the need arise we should know when to cut down our weekly budget on bitcoin investment and also known when to increase it as our obligations increases/decreases. I really appreciate your efforts in putting me on the right track my leader!!

You're right @ letterhub, that statement could mislead newbies who are about to start their investment journey to deviate from the main point of focus into investing on shitcoins cause they'll feel that their are good alts that could make 1000% in the next bull run, most of these newbies are very naive and would jump into any opportunity they see in this space based on the information they get from older members so it's in our best interest to pass the right informations here based on those sets of people. Altcoins is not a good investment option due to the high risk factor involved in it, it's mostly for traders willing to take the risk and any experienced investors would teach people to prioritise buying Bitcoin and invest for a long time and use good methods like the DCA to help them on their investment journey. Bitcoin is superior to all others and still remains the best Cryptocurrency for investment regardless of how well several Altcoins have gained profits to people over the years.

Wow, you are really a tutor, just see the way you breakdown everything for everyone, this is what I call explanation in detail, in which you explain their difference of everyone. Because must people can’t differentiate between emergency funds and reserve funds, most of them think that it is all the same that is why they mix them together. Moreover emergency fund is only use when you have a critical emergency not for some mile emergency.

There is where you wrote that “if you end up having to dip into your emergency funds for anything, you should be wanting to replace them as soon as possible so that you are prepared for any emergency that might end up happening.” Which is the best advice to give a person. Because some will not have the same idea and they will end up suffering of selling their bitcoin investment at lost to take care of their emergencies.

To the people who have not started accumulating because they believe that October will merely be another month of price compression,

- You might be right, BUT when you go to October 31, see the price, AND you're wrong, YOU WILL be begging to GOD to give you a time-machine for you to go back to this day and BUY Bitcoin with EVERYTHING in your bank account.

This chart is posted in OP, and it's the only chart that you need to see, https://bitcoin.zorinaq.com/price/

ZOOM OUT.

This is a well-detailed response to clarify @Callido thank you. It's best if we all know who is superior to others and in this case, Bitcoin is superior irrespective of shitcoin being depended on it. Bitcoin movements indeed tend to affect shitcoins but there are times when Bitcoin goes down and then some shitcoins still manage to retain its price or go up. Apart from Bitcoin, other factors affect shitcoin and that shouldn't even be discussed here.

Sometimes people need to be taught a lesson by themselves so that they can realize their mistake and stop thinking investing in shitcoins is a way for diversification. Meanwhile, it's just a distraction that keeps them away from staying consistent in their Bitcoin investment. If they want to make money quickly then they stop deceiving themselves of Bitcoin investment and go astray with shticoins.

It's so sad that we can guide people but anyway, they will still make their own decisions. As long as people think they can get rich quickly there will be shitcoins everywhere. Fuck it!

We talking about real investment here in this space and not about gambling with money through altcoins as you suggested. True bitcoin has been phenomenal and has paved way for other cryptocurrencies to enter into the market but bitcoin is entirely different from altcoins. And every dip in bitcoin price is more like an opportunity for a DCA investors unlike altcoins where almost any dip can send those shitcoins to a journey of no return (dump). No experienced investor that want to invest long will buy the idea of investing in an altcoin except there's some sort of ignorance somewhere in the middle.

Within this responsive post, I fixed your quote Justbillywitt.

I like to think about emergency funds and reserve funds as two type of back up funds, and emergency funds are the last step prior to touching your BTC, so emergency funds should never be used for anything absent an actual emergency, and if you end up having to dip into your emergency funds for anything, you should be wanting to replace them as soon as possible so that you are prepared for any emergency that might end up happening.

If you are largely taking cashflow and keeping reasonable amounts of cash cushions and even investing into bitcoin in reasonable kinds of ways, even if you are aggressive in your bitcoin investment, you should still not be having emergencies, and if you have ever noticed folks who are not very good at managing their cashflows, they are frequently having emergencies, so you shouldn't want to live in that kind of a way, and part of the benefits of having organized finances is to have some calmness because you live within your means and you maintain various kinds of cash cushions that you respect, and if you violate them, you are purposefully doing so and maybe not very often, especially in regards to keeping at least 3 months of emergency funds available in case some or all of your income dries up or you suffer from some unexpected expenses that are beyond normal kinds of unexpected expenses that sometimes might happen from time to time.

Reserve funds have less priority than emergency funds, and they can be designated for a variety of things, yet it seems likely that almost any of the reserve funds would be tapped into prior to tapping into the emergency funds.. that is unless you have extra emergency funds and if you have extra emergency funds than the extra portion of your emergency funds might merely be serviing as some kind of a reserve fund, since the actual emergency funds should not be touched absent an actual emergency.

Sometimes we might be arguing about semantics, and maybe it does not matter so much what we call the various funds; however, sometimes the way that we call the various kinds of back up funds can help us better to understand how to use such categorizations to help us to achieve some of our objectives, and  if we are trying to put ourselves into a better financial position and we would like to accomplish getting as rich as we can as fast as we can, without putting ourselves too much at risk, then sometimes we still should have patience in regards to how long it is going to take and to try to solidify our practices so that we don't end up rushing ourselves so much that we end up recking ourselves by engaging in gambling rather than investing.. So the reasons to have these protections in place is to help us to achieve our objectives in terms of doing as well as we can based on our own financial and psychological circumstances.

For example, let's say that we usually invest into bitcoin around $100 per week, yet we still have another $100 per week that we set aside for various kinds of extra expenses that we might have, and maybe we might sometimes allow the other $100 per week get to a certain size before we start to buy bitcoin with it, yet if we know that we have some extra expenses coming up such as we know that 1) we have to take our spouse on a trip in one month that is going to cost around $500 (this solidifies our spousal relationship), 2) we know that within the next month or two we need to update our computer & phone which is going to cost $1,100 (this improves our productivity and may even allow us to earn more income), and 3) within this same month, we also have pretty much promised to buy our kid a bicycle for $200 (this is an obligation that we have). We can see that our total extra obligations within the next month or two is around $1,800, and if so far we have saved up $1,200, then we pretty much are on track to have all of the money within the next 6 weeks - however, if suddenly our car breaks down, and we have to take $500 from our reserve fund to cover that car expense (especially if we might have to use our car for our work), then we are faced with a bit of a dilemma regarding how to prioritize our expenses, which also might mean that we might have to reduce our BTC investment during the period that we are meeting those obligations.  So probably we would take from our various reserve funds prior to touching our emergency funds, and we might even have to cut back on buying BTC prior to completely depleting our reserves and/or having to be in a place that we would have to tap into our emergency fund.  Sure the car breaking down could nearly rise to the level of an emergency, and surely the car could end up breaking after we had completely depleted our reserve funds, and sometimes, we might end up getting ourselves into a kind of tough situation if we don't have enough reserves to cover all of our expenses.. yet we still might have to figure out how to prioritize them within our own set of priorities.


You sound confused Callido - like you are trying to find a reason to fuck around with shitcoins and/or to give them more credit than they deserve.

When you think about correlation, it is better to think of bitcoin as king daddy rather than trying to suggest that bitcoin is correlated to shitcoins.  It is like you are trying to say that the tail wags the dog, when if you know anything about dogs, you realize that the dog wags the tail, and in this case bitcoin is the dog, not the tail.

Essentially all shitcoins are dependent upon bitcoin's success in order for them to have any kind of chance of having any kind of market.  Sure various shitcoins can pump and dump based on their independent factors too, but if you cannot recognize that bitcoin is the leader in the space and that all shitcoins are correlated to bitcoin, then you are likely lost, and you have not yet figured out what bitcoin is.... which I think it would be better for anyone trying to dabble with bitcoin and/or with shitcoins to learn about bitcoin first, yet there are so many shitcoiners who don't even really realize what bitcoin is, since they are so wrapped up in their various little crap token ecosystems and even falsely concluding that they are independent from bitcoin and various other kinds of blah blah blah to pump their nonsense.

Don't get me wrong, I am not proclaiming that shitcoins are going to be going away anytime soon or that there might not be some potential valuable developments that happen in shitcoins that end up either getting ported into bitcoin or to allow for bitcoiners (or bitcoin developers) to learn what not to do. The mere fact that there might be some back and forth learnings or even some monetary affects that come from shitcoin pumping and/or dumping on bitcoin does not mean that bitcoin is all of a sudden dependent on shitcoins for its ongoing existence or the ways that it grows or fails to grow.

Get involved in shitcoins with your time, energy and money at your own peril, and hopefully you don't get too distracted into that crap.. so maybe if you limit any kind of investment that you put into shitcoins to less than 10% of your bitcoin investment, then at least you will be going down the road to prioritizing the right thing, ie bitcoin.


Well, at least you recognize bitcoin as the leader and potentially as the prize, too, which likely means that you are not totally a lost cause, Callido.. hahahahahaha

Don't be discouraged quickly, friends, make regular investments, whether in small amounts, of course it doesn't matter, the important thing is that you are able to maintain your investment rate with regular purchases. Indeed, sometimes our income is uncertain, sometimes high or low, but we stick to our plan to continue buying bitcoins.

I have gone through a difficult stage like you feel, but I can get through it because I will not skip purchases at every stage, even though at that stage the execution that is done is much smaller, but I still do it.

Consistency will bring you success in your investment journey. It only takes a strong mental push to get through a difficult point when your economy is declining, keep believing in the plan and do it, of course you will be motivated to increase purchases again with a standard amount when your income returns to normal.

Many people have asked so many questions, it is difficult for me to answer each one in quotes. But I want to clarify few questions.

I am not combining reserve fund and emergency fund at all. You misunderstood my entire sentence. I keep both the emergency fund and the reserve fund under the same name, but the two are used in different ways. For example we use reserve fund for reserve fund and emergency fund for emergency fund. I have not used the emergency fund yet, it is still intact as I have to say, I have not yet faced an unexpected situation where the emergency fund is needed. Because I take a different strategy in my economy planning (as mentioned earlier) where I don't have to tap into reserve funds for small expenses. I use it to be aggressive in investing, I was aggressive in investing a few days ago when the price of Bitcoin dropped to $53k-$54k. Many people have been confused by the fact that such a price of Bitcoin is called a dip, so I am correcting that and apologize for the mistake. I don't think it's wrong to keep DCA running and wait to buy the dip, because here I can have freedom.

I got enough help to start investing and learn investing, after just a few months of joining the forum I was advised and given enough help to start investing. But then my source of income was not very developed and since the demand was low I started investing in small amount. But now I have one source of income and am self-reliant in investments.