Topic: Buy the DIP, and HODL! - page 73. (Read 139061 times)

Common feelings for people doesn't have any solid directions towards what they really want to happen with their money ready to use for some useful things. If they could figure out and gather good information about doing long term investment and eager to learn more about it then provably they would be heading in good direction.

But some people want to take a risk since they want to experience the other means on they could earn money. Also for sure that once they tried trading and feel the pressure and how risky to participate on this activities for sure people would just drop that idea of doing trades since for sure that they would can't handle the continues risk since it give them a lot of stress everyday. Good thing that there's good institution just like what you have mentioned that people can look forward that its good to hodl bitcoin for long term since this could give them convenience and more realistic results compare if they adapt the pressure then get burned in at the end. So trading must be avoided since there's nothing sustainable matter we can really on in this option.

If most people who badmouthed bitcoin in the past and refused to invest in it early enough are contacted on a personal level, they are obviously living in regrets of their initial mistakes. Let's consider this tweet from 2011 and 10 years later when contacted, he confessed he was dead inside owing from his mistakes and personal doubts of bitcoin. I also somehow believe he was persistent in his pessimism despite seeing the progress of bitcoin which is the height of ignorance and no longer doubt and in the end, his regrets knows no bounds.


https://bitcoinmagazine.com/markets/bitcoin-price-up-1-6-million-percent-since-infamous-allen-tweet

It's sad most people are still doubting bitcoin and would still end up regretting their mistakes like this guy in question. These are some of the testimonies of bitcoin that it would always prove the naysayers wrong and provide a profitable investment opportunity for those who recognize it, believed in its potentials and accumulate it.

People who are not mentally strong in holding Bitcoin for the long term still have to train themselves more in dealing with every market condition because they are not actually trading, but rather collecting Bitcoin in order to become more because the goal itself is investment. I also really understand what you are saying because some people still need to separate investment from trading when their goals are quite clear with a certain duration of time. And now I am still motivated to buy Bitcoin when I see the Microstrategy company that continues to accumulate and buy more Bitcoin at the current price. Because they really don't care about the price of Bitcoin when they only focus on their goal of collecting more Bitcoin ownership for now.

I think it is important to understand that those bloggers are just out there doing their own business, and the more engagement and followers they have, the more money they are generating from their platform. So  any investor who is making a rash decision based on whatever they read in a blog is definitely making a big mistake. Yeah I know as humans sometimes we need some form of validation from others who we think are more knowledgeable regarding a subject matter.
But when it comes to bitcoin listening to bloggers who encourages you to sell your bitcoin premature is totally your fault, and you already have it in mind to sell, so you don't blame it all on the bloggers, because out there, there are also bloggers that encourages people to hold their bitcoin for long term and not sell premature. Why don't you choose to follow such blogs. Whatever you do is firstly your choice and you should take responsibility and not blame it on others.

Actually you can set a plan with DCA accumulation every week more consistently for long-term targets. If I look closely at the point you made where you are not mentally strong enough to hold bitcoin long term, I think you should be able to strengthen your mentality to face sudden market reversals. In long-term investment you must have a strong mentality, not panic and continue to buy regularly, your cash flow must come in every month so that the investment you make can run smoothly as you target.

Bitcoin adoption will continue to happen and it cannot be stopped. Bitcoin has become the investment choice of everyone in this world, they continue to buy with the finances they have.

I predict that many countries will follow in El Salvador's footsteps in buying bitcoin, we know El Salvador buys bitcoin every day with an accumulation of 1 BTC per day, the United States will also do it in the future, Yes that's good news for wider adoption.

You may be wrong, I'm not expressing my opinion as a trader. I just use the time I have to keep buying bitcoin

I remember a saying, delaying is the worst thing.

 For that, while I still have money, I keep buying bitcoin.

Imagine your cash flow stops at some point, and when your cash flow is running normally but you waste opportunities or keep delaying, of course that is an ineffective way to invest.

For investors who are accumulating bitcoin for long-term purposes, I doubt if they will be making a good amount of profit from their bitcoin investment now because you cannot actually tell if they have invested a reasonable amount of money in bitcoin, which will allow them to gain the kind of profit you are talking about from their bitcoin investment. Even though the bitcoin price is high, I think it is too early to talk about profit because most people here are accumulating bitcoin for the long term and they are still in their accumulation journey, and thinking about profit now might distract them from their original plan of holding bitcoin for 4-10 years or more. If we are consistent enough in accumulating bitcoin in such a way that it will not stop us from sorting out our daily expenses and holding it for the long term, that is when we will see the type of profit you are talking about from our bitcoin investment.

Bloggers harbor the most discouraging effects on bitcoin investment and most of them are up for short-term gains and with trading mindset and people tend to believe them more thinking that more followership entails more wisdom. I also fault people who believe out rightly what these bloggers say without validating it themselves by doing their own researches to ascertain if the bloggers claims aligns with their intentions.

Investment decisions should be completely of our own accord and should be a testimony of what we want for ourselves rather than advise given to us by an external person and bitcoin investment is a decision to be take by the investor to dedicate a portion of their discretionary income to by bitcoin with any of the accumulation strategies that synchronized with their lifestyle with the intention of going for a long term and securing their financial future in bitcoin.

It is good that young people should think more than the present lifestyle and decide to take investment seriously since they are young, full of energy and can make sacrifices readily and comfortably for their future and I believe if any youngster gets into bitcoin having a long term plan in mind, he has more advantage and can go for a longer period of time and with commitment, he can beat a very high target with respect to his available discretionary income and length of time. Such a very young person can go for 10 -20 years or more in bitcoin and maybe 30 - 40 years if he plans for his retirement with bitcoin and that would be a very profitable long-term investment.

I don't think that if an investor has accumulated from 60% and above of his bitcoin target, and he choose to change his accumulation strategy from DCA to buying at the dip, that it means he is unserious with his bitcoin accumulation and can lead to termination of his bitcoin investment. Every investor should choose whatever accumulation strategy that will suit them at every point in time based on the size of your bitcoin portfolio and your own financial circumstanced playing around you at that moment.

When your bitcoin portfolio has gotten to a particular size, if you use DCA to continue your accumulation, you might not see any significant increase in your bitcoin portfolio because the of amount that your are using to DCA is small. But if you keep all those money that you are suppose to use for your DCA and use it to buy when bitcoin price dips, you will see a significant increase in your bitcoin portfolio. If you have accumulated up to 60% and above of your bitcoin target, waiting for the dip isn't a problem anymore because as bitcoin price is increasing, your portfolio is also having a significant increase and you are better off than a new investor who just started his bitcoin journey.

When you have some amount of money down waiting to buy bitcoin when the price dips is called buying at the dip, and when you have an extra cash that you don't have any plan for because you never expected it for instance, my Boss gave me $400 at work today for bounus and I used that money to buy bitcoin the moment I got home with $300 immediately to add to my bitcoin investment is called lump sum. When you want to lump sum, you do it right away irrespective of bitcoin price at that moment, without waiting for the price of bitcoin to dip.

That's to tell you at every point you invest bitcoin it is always profitable and their is no best time to buy bitcoin,  the more you wait the opportunity you miss in making profit.

We need to the teach people to have understanding that their is no point waiting to buy bitcoin, I think the only reason that should stop one from buying bitcoin if their is no money, no source of income, this can be accepted as a reason why one haven't buy some bitcoin. Buying bitcoin at all time you can afford it is always the best step , but by waiting thinking their is a best time to buy, it is one of the self deceit that happens unknowingly to many people, this is a bad mindset that some people needs to flush out from their mind and do the right thing.

Those who made such negative remarks on bitcoin will end up eating their words as bitcoin keeps pushing forward, they didn't see the bigger picture. The progress bitcoin made over the years is impressive and there is still so much room for growth. It shows that sometimes you gotta trust your gut and take certain decisions by yourself. Those who let the negative remarks from such figures persuade their decisions might have missed out on some serious opportunities. Making your own decisions based on research and your beliefs is super important.

Bitcoin really stands out as a unique asset, especially with its emphasis on privacy and decentralization. In a world where many people value their privacy bitcoin attributes definitely give it an edge.  Speaking against an asset like Bitcoin, especially when it’s completely different from traditional asset can be tagged as a gamble. It’s not just another regular nvestment, it’s something that challenges the status quo. A lot of folks might not realise it potential until its too late . Gotta keep an open mind

Tho me, there's no need to stop your regular accumulation if you're yet to reach your accumulation target, slowing down on your accumulation can lead to over relaxation and possible termination of your accumulation journey. You can continue your accumulation and save part of your discretionary income expecting the dip to come so you can lump sum and buy more at lower prices.

The moment you stop your accumulation, your mentality towards your investment tends to change to something else and you might not handle the transition well and may start entertaining laxity and possibly turn negative and start preying on your investments. Until you achieve your accumulation target, you're not there and by pausing without reason you may start suffering from near-success syndrome and abandon your mission. Keep the ball rolling until you get there.

You're right, there's a saying in my local dialect which means that whenever you wake up is your morning, so whenever an investor is convinced and kick-starts his Bitcoin accumulation journey is their morning. It's still morning guys, let's take Bitcoin seriously and in years time new investors would still envy our success and wish they started when we did. With renewed confidence and increased commitment to our DCA, we can grab our own good share of Bitcoin and secure our financial future just like many has done and are still doing. It's still early and we gotta make hay while the sun is still shining.

I think there are still many days left to reach the dumping stage and the coming days are going to be very good for Bitcoin. It can be predicted by the rational behavior of the market that the price of Bitcoin is likely to exceed $100k at any time. You should make an effort to get a decent holding before expecting profit from the investment so that the gap between expectation and realization is very small. By tending to accumulate bitcoins by making small savings rather than being satisfied with small profits, you can move towards getting the right expected profit. Long-term savings efforts have a tenure of 4-10 years and are independent of price pumping or dumping.

Investors who make the effort to accumulate bitcoins through small savings are likely to have a huge holding in the future and you can pretty much assume that they will not regret it as they are going to get the desired and decent holdings from each cycle in the long run. Increasing the amount of savings during Bitcoin rising value should increase your confidence because of its potential to increase in value over time. If dumping conditions prevail, the cycle should tend to be circumscribed by continuing to accumulate on an ongoing basis while aiming to achieve a modest holding.

Actually there is alot of bitcoin FUD in many people and this has made many people said negative things about bitcoin many people have said countless times that bitcoin will fall to zero some said bitcoin can never hit $100k, and all are just do to FUD. Here are some people who never believed in bitcoin.

A long time ago, Peter Schiff said this..
keep dreaming, Bitcoin is never going to hit $100k

popular celebrity who do not believe in bitcoin

1. Warren Buffett
 He once said "bitcoin is a rat poison. labelling it as a no coin atol.

2. Jamie Dimon
“The cryptocurrency won’t end well! It will eventually blow up… It is a fraud definitely worse than tulip bulbs!”

3. Charlie Munger
also said bitcoin is stupid because it is likely to go to zero

So surely there must be people who will not believe in bitcoin, and of course they can include not buying bitcoin, but as years passes by and bitcoin continue growing and creating New ATH, they will later come to embrace bitcoin when they will spend alot to buy it when they actually had the opportunity when It was less expensive. I always believe in one thing anyone who doubt about something when it is cheap will surely pay big when it has received recognition as results of his doubt.

You are sounding more like a trader than a long-term investor in bitcoin investment because, from what I have seen from your post, it shows you are in a hurry and worried that the bitcoin price is too high, which might not allow you to get enough short-term profit. You are still very early in bitcoin investment, so there is nothing for you to worry about bitcoin price hitting $100k if you are all in on bitcoin for the long-term. What you should worry about is how you will focus and consistently accumulate bitcoin in such a way that it will not stop you from sorting out your daily expenses, which might give you a hard time holding your bitcoin for the long term.

We should try to recognize and appreciate that an overwhelming majority of people do not have and/or maintain investments and/or savings, and in usual circumstances, they likely ONLY have around 2-6 weeks worth of some kind a cash fund or back up fund in the event that their cashflow dries up and/or their expenses increase.  Furthermore if they do start to invest, they likely will begin investing into the kinds of assets/currencies that are not even close to as volatile as bitcoin, so getting into something like bitcoin justifies the creation and maintenance (and building) of way better cashflow management systems, especially if any of us really wants to back up our ideas with actions that actually preserve our BTC investment for 4-10 years or longer, which largely means that we are not selling any of our BTC (absent small amounts that might be spend and replace).

Sure, we might not need to completely wed to a 4-10 year time horizon when we get started in bitcoin, and we do not need to get all our shit together (including our cashflow and/or our emergency funds) in order to get started in bitcoin, yet at minimum we need to make sure that we are taking from discretionary income ton invest in bitcoin rather than money we need, and if we do not have discretionary income or we cannot figure out if we have discretionary income, then we have to establish that we have discretionary income prior to buying any bitcoin.  We actually don't even need to know exactly how much discretionary income we have to invest into bitcoin, as long as we know that we have some discretionary income, and we can figure out the details and get our shit in order as we go...presuming that we have bare basic levels of abilities to know or learn basic math.


I would not consider utility bills to be an emergency, since each of us should somewhat realize ballpark ideas of our utility bills, yet if we might be used to paying $50 per month in various utility bills, and then all of a sudden our utility bill is $500, then sure something like that could end up falling into the category of an emergency.

Your above descriptions are not otherwise wrong, yet I would think that if we are investing into bitcoin and otherwise attempting to make sure that we have strong cashflow management, then our building our wealth in that direction is going to give us more options in the future, and surely each of us has differing kinds of things going on in our lives in terms of the kind of employment that we might have, or if we might have our own business and/or if we might have a family to support and/or other obligations.  Our cashflow management is going to differ based on some of our obligations which might affect how much discretionary income that we might have to invest into bitcoin, and surely the more complicated our income flows or our expenses, then the more likely that we are going to need to retain more value in cash so that we are not contributing to our having emergencies that we should be striving to prevent.. and also we should be striving to prevent dipping into our BTC investment too.. at least during the time that we are building it up and getting the bitcoin stash size to a level that we might conclude that we have enough BTC or more than enough BTC.. .which could take 4-10 years or longer to establish, and surely it could even take 20 years or more for some of us to get our bitcoin stash to such a level of over-accumulation.


Sure..  This statement is true, even though there is likely going to be prioritizing of the various kinds of funds and balancing that goes into considering various factors that come into play if we are investing into bitcoin, and so in that kind of a general sense, I had tried to put them into 9 individual factors that we should be considering, attempting to balance and to tailorize to our own circumstances.

Today all of us are happy and celebrating the bull run, where Bitcoin is getting ready to touch 100k$. There is an interesting read which has a small database of notable Bitcoin Skeptics. One can see on this page that many times it was predicted that Bitcoin is going to zero and Bitcoin has proved it wrong every time. Even in 2022 there is an article in telegraph that says that "Bitcoin's libertarian dream is over".
Such predictions will continue to come and it's our duty to ignore them.    


https://buybitcoinworldwide.com/bitcoin-is-dead/

You are getting it all wrong. Investment, savings, business, emergency funds and to mention a few others. All are essential in our life. We cannot do some and leave the others. All are important because they takes care of certain responsibilities when you need. The essence of investing is to be wealthy and that is why it is a long term plan. Savings is done when you want to start up a business or your planning for ceremonial event (marriage or any) in the future which you dont expect to touch your investment. Your emergency funds is for unexpected life events that comes at any time. It could be health, or utility bills.

So you see, all of them have a part to play in our lives. While we skip one or more we tend to find ourselves in a difficult situation where we can be pushed to make wrong decisions that can affect us.

I love the zeal you got their buddy, Bitcoin future upsurge is unimaginable thats why it's advisable for everyone to keep doing the needful, sometimes I just wonder why some perons still doubt this digital asset called Bitcoin, Bitcoin has shown that it has the potential needed for it to be trusted, I stay away from anything that will discourage me to stop doing my thing as a bitcoiner, when I stumble on this comment yours I laughed and said in my mind that this should be the mindset of every bitcoiner thats aiming to have a good stack of Bitcoin in their portfolio in the future.
As for the adoption of Bitcoin, people has started knowing the importance of buying Bitcoin asset, some has been waiting to buy for a long time because of doubt  but they have decided to buy now which is also fine but would have been better earlier because if they did earlier, they would have had a reasonable amount of Bitcoin in their portfolio by now but I don't also think that it's late since they have retraced steps.

Bitcoin is really getting more adoption, the recent rapid upsurge has really done great for the adoption of Bitcoin by individuals and institutions, I think this is a good news for bitcoiners, more surprises are on the way but they only way we can achieve that is by continuously accumulating and hodling for a long-term.

Those who have started investing consistently even a few months back have already got good amount of profit from their investment. It was beyond everyone's imagination that the market would suddenly cross $90K from $50K. However, due to consistent investment, many investors have made good use of this profit opportunity. As the Bitcoin market is currently at its highest point, we cannot assume that the market will dump again from here. It may be that Bitcoin's value has increased by then but many investors will regret why they didn't invest during the $90K like many are doing now. It is difficult to tell when the market will go in which direction so if we continue to invest consistently then this investment will definitely not disappoint us rather we will definitely get something good from this continuous investment.

I fail to agree anymore with you on the bolded text.
You shouldn't touch the bitcoin that you are investing because you need money, and look at how you make it sound which means that instead of me keeping cash for my basic needs, I shouldn't but buy bitcoin with it, and whenever I need to buy something, I can spend from the bitcoin I just bought. Then why buy it and say that you are investing when you are not but only gambling, because this your practice will make you run at loss by selling your bitcoin at a cheaper rate when you have a need.

When you are investing in bitcoin, you should only use your discretionary and if you don't have discretionary income, there's no need for you to buy bitcoin because it's useless and a poor financial management practice. You are to use part of your discretionary income that is not going to affect you from taking care of your needs at all, so that you can use that amount to bw buying bitcoin weekly with DCA, so that you can stay or live without selling your bitcoin and hodli for long while you continue buying and buying your portfolio overtime with all seriousness.

It is good to also set up an emergency funds of 3-6 months of your monthly income to take care of whatever emergency that comes your way, so that you don't sell part of your bitcoin to care of it. It good go be building and growing so that you can see how far you have gone in your bitcoin investment than selling what you are buying.