Topic: Buy the DIP, and HODL! - page 78. (Read 129603 times)

You are sounding more of trader than an investor, because as an investor you don't have to rely on how does things you just mentioned when accumulating, though is good to follow with latest updates about the space , but don't focus on the market trend when it comes to bitcoin investment, your main goal is how to secure a better bitcoin investment, by accumulating enough stashes and keep it safe in order to hold for long-term.

And this thread is not about trading , is all about holding Bitcoin , so they are thread for trading but is not this one . So focus more on building a better bitcoin stash.

Well said, if you are lazy or smart at the same time then better approach is to buy bitcoins and wait 1-2 years and increase your investment. There are a few things you can watch out for when buying or selling Bitcoin. May it be market trends, know about cryptocurrencies, keep an eye on price movements, any major developments in the industry and set yourself some clear goals.

I think, of course, it's always better to do our own research and not just rely on some other signal. In this regard, I personally find Bitgate's trading signals to be an important aid in making informed decisions regarding Bitcoin.

We can expect that, in about two years, an uptrend in Bitcoin will occur again, and you will be able to sell your Bitcoins then.

I cannot agree with you. DCA is suitable for both low income and high income groups. DCA has many benefits. One of the benefits is the opportunity to buy when you can, turn small capital into big capital, and reduce risk. I consider DCA universal. Never consider DCA for just one group. It is universal, anyone can invest in DCA strategy. Do you know many big companies in the world invest in DCA method? Do you think they don't have the money to buy a lump sum?

They must have money. Although I cannot tell the full purpose of investing in DCA method of these companies, but as far as I know they invest in DCA method to reduce the volatility of Bitcoin price. Earlier I wrote about this topic in which the names of world famous companies are mentioned which companies invest in DCA. Below is the explanation.

I would say this is the only way for them to accumulate BTC when they don't have lump sum, well there are many ways that someone can make huge money in short term so they can convert their small capital to big one like investing on a random shitcoin and make 100x over night or maybe by winning a lottery but those all are just not gonna happen to everyone.

So as an average person who understands that bitcoin has the potential to grow but they don't have the risk tolerance of investing big then approach small steps is what the DCA is all about and in over the period of time they will be having an portfolio value that they never dreamt of before so no matter what keep accumulating coins.

Actually there are people who does that, they just invest a huge amount of money in bitcoin in the form of lump sum and they don't bother buying again while waiting for their maturity date. There is really nothing wrong with that but to get the most out of the investment it is good to follow it up that investment with continuous buying to make the most out of the investment. While you are waiting for the maturity date of your long term investment, there are going to be some up and down trends in the market, and you can capitalize on them and make the most out of your investment.

There was an illustration that @JJG gave here some time ago about two investors, who invested in bitcoin with same maturity date in mind. Investor A got 27 bitcoin at an average cost of $100 to $300 or something there about, while investors B got 33 bitcoin or more, I can't really remember the exact figures currently. Investor B got his bitcoin at an average cost of $800 to $1000. They both have the same holding period. He asked which investor would we rather be and most people including myself said investor B. At the end of the day @JJG said the difference between the two investors is that investors B followed up his lump sum investment with a continuous buying while waiting for the maturity date, but investor A didn't follow up with continuous buying. So at the end of the holding period everyone admired investors B. That's what continuous buying through DCA does to lump sum investment. While you have invested through lump sum, it is best to follow it up with continuous buying, no matter how little the weekly or monthly DCA amount might be, at the end of the holding period it will be worth it and will be better than someone who just lump summed without following it up with continuous buying.

What he's saying is not a bad idea, both the DCA and lump sum strategies are all good ways of investing in Bitcoin and he is saying that if he had enough money to do the lump sum (buying bulk) he'll prefer that to accumulating a certain percentage of his income weekly or monthly but that doesn't mean he'll just buy once and not buy again, if he's very wealthy enough, he could buy bitcoin worth millions of dollars then he can buy again after 2-3 months interval, I consider that a good strategy too given that there's no point for an investor to stress themselves overthinking of buying repeatedly weekly or monthly since they've already bought far beyond the current price of Bitcoin and could still top up their portfolio after several months like 2_3 like I said earlier so far they're wealthy enough to keep up. It's only when he buys once using the lump sum strategy and stops buying again cause he feels he's bought beyond the current price of Bitcoin that I'll consider not a good idea. Well it's also reasonable to do the lump sum when an investor has enough for it and also continue doing the DCA after that, I think it's a matter of choice and not compulsory that an investor must combine both the DCA and Lump sum strategy.

I think you should understand that it is almost impossible for you to arrive at the amount of Bitcoin you want to have in your portfolio once, let's get the record straight, a bitcoiner thats making use of DCA method to accumulate bicoin can also buy in lump when he or she has gotten a big amount of money that he doesn't want to use for anything at the moment and if kept just like that, it might be used for unnecessary expenses such investor might decide to use such fund to buy in lump sum but that doesn't stop him or her to discontinue using DCA method or accumulating Bitcoin, Bitcoin acumulation is a continuous process and with the little I know, buying Bitcoin to the level of your satisfaction doesn't come in a twinkle of eye, buying in lump sum does not stop you from continuing doing the needful instead it should be a motivation for you since you are now convinced that you a good fraction of Bitcoin in your portfolio.

Don't be relaxed because you bought with an amount that's beats your imagination,  you should understand that people that buy in lump don't stop buying, they buy when the have the amount to do so and there is no specified time to buy in lump sum, investors buy in lump anytime they have the funds to do so and continue acumulating with the method the use in accumulating gradually, steadily with what they can afford without giving a break and keep hodling for a long-term

Basically the investment depends on the investor, an investor can participate in the investment depending on his financial condition. Maybe a low-level new investor is good enough to invest $90 per week, but if you push him to invest more dollars, he will be greatly oppressed. And he will not be able to sustain the investment for a long time as per DCA method, he may be ruined later.
 Therefore, regardless of the amount of money, the investor should invest as much as he can on a regular weekly or monthly basis, then he can sustain his investment for a long time and later he can accumulate more bitcoins.


People who invest in different places because of some extra greed usually lose money. Because it is only worth investing in Bitcoin according to the DCA method, and it is not worth investing in all the rest because the market is more likely to be destroyed at any moment. But Bitcoin is the only reliable one that has survived the market reliably for a long time, and the price of Bitcoin has touched all the way from the lowest to the highest. Therefore, no matter where the DCA method of investing in Bitcoin starts, there is no possibility of loss, as the portfolio will grow if the price of Bitcoin rises in the future.

Your understanding is quite different from the point JayJuanGee highlighted on his post because if I can remember correctly he was clarifying you about the various accumulation strategies because you were mixing up the strategies and still after reading your post you are still mixing up things by getting yourself more confused the more, however I'm curious to no what you meant by having a separate portfolio, do you mean that your plans is having a seperate portfolio for each of the strategies?, don't messed up your investment do to lack of proper knowledge about how each of those strategies works.

I wonder why you would even talk about having diverse investment portfolio when you have not even been able to to arrive at your "Fuck you status", and even if you have arrived at that point there is no need getting a separate one since you already have an existing investment, so instead you can continue adding more.

For me I consider that argument to be an irrelevant one because everyone has there definition of a huge amount, so let's take for instance somebody who has $1k and claims to have a very large amount, do you advise such person to stop accumulating Bitcoin for years after investing the money?, is actually obvious that the argument will have a negative effect on people towards getting to there "Fuck you status".

I believe that DCA method to accumulate Bitcoin is best suited for average and low income earners who doesn't have a lump sum to buy in dip and relax for as long as they want, probably in years. The price of 1 BTC can be a discouraging factor for those that can not afford it so the best strategy for them to accumulate and grow their bags is to choose a feasible method and their is no better way than through DCA. Someone can argue that if you have enough money to convenitly buy a large amount at once then what is the essence of stressing yourself to do DCA every week or monthly. For people with huge amount of money to buy at once, what they will concern themselves with is the right timing to buy. With the accurate knowledge of Bitcoin the investor will know better to buy in dip, hodl and wait just like any other hodler. Investors with lump sum that understands Bitcoin seasons can choose to wait for a full circle that will lead to another bear run and accumulate again during dip. The difference between the regular investors that adopts the DCA method and those that buys with lump sums is that the former buys in Satoshi according to what he can squeeze out from his income while the latter buys approximately 1 BTC at once because he can afford to. The common ground for the person that does DCA method and the other person that buys with lump sum is that they aim to have sizable amounts of Bitcoin to enjoy returns on investment in the future. Whichever method an investor chooses according to his income whether DCA or buying at once with a lump sum they both have the believe that Bitcoin as an asset will always increase in value on the long term.

It seems you are mistaking the buy Dip to lump sum because in lump summing investors don't necessarily need to wait for bearish before they buy. Lump summing simply means buying in a large quantity regardless of the market condition but it will be an advantage if an investor lump sum during the Dip and people who see this method as boring are investors who don't have enough funds to..., just like me I don't like the lump summing because I can't afford it that's means it is boring to me. But the reason why I like it is that a figure one will buy a day can take some investors who is using the DCA method a month if not year(s) to accumulate.

I don't think that is what JJG meant, I guess what he meant is that you seems to know the investment strategy but you are mixing up the explanation not mixing bitcoin HODLing. Your explanation here is not corresponding.

Surely DCA method is an effective investment approach but not only for beginners but for all who want to Invest effortlessly and tiredlesly without thinking about the market fluctuations, and aims to accumulate regularly to get a sizeable amount for a specific period of time. Although  lump sum decition should be made when there is money readily available but should be done wisely.

It is good to speed up our bitcoin accumulation process when there is money, but like I said it is good we apply with caution. You know one of the worst investment approach is to Invest aggressively and later sell your stashes down the road. One of the way to use such a fund effectively is to divide your fund in orderly manner. For example if a person is fortunate to have received $3k as a bonus from anywhere he should divide it into 3 part, $1k for buying at each dip, $1k for lump sum and $1k as a descretion fund to buy a regular DCA. My explanation may not be the best but I think it's one of the ways to use fund that is received unexpectedly to avoid investing at ago and later sell your stashes due to lack of proper planning.

If we don't have separate portfolios, it may be better to tend to mix in bitcoin holdings. Our main objective is to try to build a bitcoin stash and DCA is one of the ways to accumulate regardless of value. DCA method is very effective for a beginner investor as observed from my investment experience but a lump sum decision should be made immediately if an investor has enough money.

It is better not to tend to wait for dips as lump buying may be delayed and allocated funds may be spent for some reason. That is why an investor should make a buying decision regardless of the price based on the immediate decision. This can be very positive for increasing bitcoin holdings and holding more by circulating the accumulation cycle.

In fact, if an investor can apply the investment strategy correctly, he can get huge Bitcoin holdings in a short span of time. The right strategy tends to be patient and long-term accumulation.

If you already have a lump sum that is available to you for buying BTC, there is no need to DCA buy with that lump sum. You have complete discretion to determine to buy right away or not or to employ various kinds of deferral strategies to buy on dip or to DCA.. and of course, the DCA could be over a few weeks, which is almost like doing it right away, or the DCA could be drug out for several months or even a year.. depending on how the person felt about the current market situation and also about their own already existing BTC stash and process that they might already have in place.  So for example if the amount was something like $10k, and if the person had ONLY been buying $100 per week in BTC, then that $10k amount is two years worth of DCA... so if he wanted to delay over two years, that would be to double his current DCA from $100 to $200 per week.

Surely there can also be variations in regards to how quickly he might want to get the $10k into BTC and if he wants to keep some value for buying on  dips or not.  The answer is not obvious, even though there are options available for such a person that might not have had been available for a lot of folks who ONLY are able to invest from their regular monthly cashflows.  Don't get me wrong, there are probably a lot more people who get opportunities to lump sum invest, yet they might not even realize that they are having an opportunity to lump sum invest if they don't already have systems in place to buy BTC.  So surely one of the advantage that any regular DCA buyer of BTC will have relates to his already having systems in place for the buying of BTC, so if he ever comes across extra money, he may well consider that extra money as a lump sum BTC buying opportunity rather than just an opportunity to spend it right away on some consumptive good, which many people might not even know what to do when they receive extra money, and they might even subconsciously start considering certain things that they want and they are now able to buy.. even if the thing might not be a very good idea if they were to compare such current consumption with the possibility of buying BTC (which is a kind of deferred consumption that may or may not end up playing out to their advantage, yet if they have a 4-10 year investment time horizon or longer, they might not concern themselves too much with current payoffs as compared with future potential payoffs that might allow them to stop working 1-2 years (or even longer) than they would have had otherwise been able to do. and perhaps their ability to assure they are going to always be able to purchase high quality food, especially in their older years... or to be able to do maintenance on their house after they are no longer earning income from working without having to worry about how much it costs).

I think you should change your mindset, indeed Lump sum is also good but if we apply investment for the long term, isn't it better to buy gradually. If I think gradual purchases can be concluded that we can buy bitcoin at different prices throughout our investment period. You buy at $44k, $45k or depending on the bitcoin price on the day of maturity to buy, that way you have unknowingly bought at every dip that occurs because that is the advantage of DCA.

If you mean to forget about the wallet because you don't want to touch the wallet in the near future then you can buy $5k for a special wallet that you keep the key as well as possible and forget it for the time you want. Well the remaining $5k you can buy via DCA for other wallets so the point I can conclude is that we continue to follow up on bitcoin purchases and that is a great way to increase Bitcoin ownership.

Yeah you are right, your reserved funds should be used for something more important to you, if you use your reserved funds for something which is not on the priority list then it will affect you by leading you to dip hands into your Bitcoin investment, how's that now something that is not in the priority list or important to your life won't cause you any damage or affect you in anyway if you don't handle it, but something that is in your priority list or important to your life will cause you damage or affect you if you don't handle it, you can't abandon something that is of priority to you and have peace of mind but you can abandon something that is not of priority to you and have peace so when you abandon something that is not of priority to you it won't make you dip hands into your Bitcoin investment later on but if you abandon your priority and waste your income you will surely dip hands into your Bitcoin investment to settle the priority in your life one can't shy away from his or her priority in life and that is why we need to make list and know our priorities, reason being that some people don't know there priorities when they are faced with two things and they end up handling what is not a priority and regret later and making them hit a fuck up stage were they now dip hands into there Bitcoin investment.

I think that initially, you need to think in terms of at least having some ability to cover your living expenses for a short period of time if you have loss of income and/or increases in your expenses.  A brand new investor may or may not have had a practice of keeping any kind of cash cushion, yet having the cash cushion becomes more important when investing in a volatile asset, such as bitcoin, since the volatility of bitcoin would likely justify that you would not want to be using it as your emergency and/or back up funds until perhaps it is quite well in profits.. or at least the concept of not using any of your BTC at a time that is not completely of your own choosing, and surely it seems that with some discipline guys should be excluding themselves from using any of their BTC for 4-10 years or longer after any time/amount that they invest into bitcoin.

Surely back up funds have various categories, including emergency funds, reserve funds and float, and so emergency funds seems to be a category that does not have a lot of discretion, at least for someone who might be trying to retain a certain level of preparedness for downfalls of cash and/or increases in expenses that he might have.  The more likely the unsteady income/expenses, then the larger amount of emergency funds will be required.  Reserve funds can still be used in emergencies, yet reserve funds could end up having a variety of purposes that they might be held, so there surely could be a certain level of empowerment in terms of having those kinds of funds available, yet the general idea is that reserve funds would tend to not be working funds and would likely end up suffering from ongoing debasement since being held in fiat, so there is no real high level of logic to want to keep a lot of funds in reserve funds rather than building an investment in bitcoin, except surely there can be some perceived negativity when guys might be concluding that any investment in bitcoin requires a 4-10year or longer lockup, so then there is more short term empowerment with reserve funds, even though the reserve funds are losing value.

So even if there is no real correct answer, I would still consider that there would be importance and priority in regards to wanting to build up the bitcoin stash in order to get to a point of having time in the market, since the money in reserve funds might be preparing you for down in BTC prices, it is not preparing you for UP... which is a quite common phenomena of having a lot of folks who are not really very prepared for UP.. which is part of the rationale behind our currently ongoing wealth redistribution from no coiners to coiners, and the ONLY way to be on the receiving end of our ongoing wealth redistribution is to be in bitcoin rather than being in fiat or whatever other asset you might be into besides bitcoin.


Usually your emergency fund is built up and should never be touched, except for an actual emergency, and so if you otherwise have strong cashflow management, you should rarely, if ever, have any actual  emergency since you have already prepared to use various other funds before even touching your emergency funds. So if your income is $1.7k to $3.2k per month with an average of $2,400 and your expenses are $1,500 to $2,200 per month with an average of $1,800, then you could predict your expenses based on your worse case scenario and attempt to have $6,600 in your emergency fund.. Once you build up your emergency fund then you are not fucking around with it any more unless your expenses might go up or down and then you conclude that you should change the size of it based on changes in your monthly expenses.  Also, if you know in advance that there are certain months that you make more than others or you are expecting that you are going to have to change jobs in 6 months, then with that kind of notice, you already know that you are going to have potential disruptions to your income, so if you lose your income it is not an emergency because you already knew it was coming. Sure there are things that are known and things that are unknown, so you try to attempt to prepare for both, which is part of the rationale for the emergency funds.  

Yeah sure reserve funds can be ear marked for buying BTC on dips, but they also can be ear marked to save for: 1) buying a new car or motorcycle, 2) taking your spouse on a vacation, 3) saving to buy a bicycle (or some other gift for a kid), 3) updating your computer and/or your phone, 4) repair to your kitchen sink and/or plumbing 5) the purchase of some kind of a self-improvement course (which takes both time and money) and/or 6) some various other reasons, and so you know that the money has various different priorities in terms of timeline and/or quantities which are really ONLY going to be known by you..

People are not going to come to the same conclusions regarding how to go about saving for certain kinds of purchases that you might make and if you might choose to spend certain of that potentially discretionary money within the same month or you might have timelines for different expenses that are for certain months in the future that might even be several months down the road, but if you had promised your spouse a trip to some location in February, and you know that it will cost about $1,200, and so you had been saving about $100 per month and you have the amount saved up to $800, right now, you seem to be on track to have enough money saved up by February, but if you fuck up and you end up spending all or most of that saved up money, then you might be forced into a situation in which something like that vacation that was a low and/or medium priority ends up getting pushed up to a higher priority status.  ..and perhaps you have to take money from some other area, and hopefully you do not have to tap into your bitcoin based on you poor planning.

Also it could be the case that a car, motorcycle, computer,  phone self-improvement course might end up improving your productivity and/or your income, so you might have a list of items that you want to purchase, yet you focus on one of them at a time in the order of their priority rather than holding reserve funds for all of them at the same time.

That's very wrong because there is no way you will be able to accumulate the total amount of Bitcoin you have planned on having in the future at a time, though I can see that you don't understand so much about Lum sum strategy because you sre thinking that those who make use of Lum sum will no longer use the DCA because they have acquired all the amount of Bitcoin they had on there goal, actually that's totally false because what Lump sum stands for on your investment is that if at the process you are DCAing and you were privileged to have more extra funds you can use it to fasting up your investment by accumulating it at ones without allowing to intrude on your weekly DCA.

However I think is from the way you must have been going through your investment that makes you feel that there a mental stress on accumulating Bitcoin on a regular basis because the only thing that involves is having or setting a weekly amount to be accumulating on weekly and there nothing hard about it, perhaps you are just being too lazy on your Bitcoin investment that makes you want to be looking for a means to stop using DCA.

Usually I use such strategy as an investment method. I don't know how everyone else views this approach. But I always plan something new and try to implement it. I always try to keep reserve fund stronger than investment fund, you can say reserve fund is more important to me than investment fund. The reason I can say is that I am giving more security to my investment by giving more importance to reserve fund.

I usually divide my income by 3 to the amount left over after meeting the needs. I keep 1 part of 3 to investment fund and remaining 2 part to reserve fund. I am aggressive in investing while keeping the reserve fund in 2 again with 1 part reserved for emergency fund and the remaining 1 part bitcoin dip. That is, if I invest $100 a month in normal times (not including my investment amount for safety), I invest more than that when bitcoin dips. This amount is determined on my reserve fund. It is almost impossible to predict when Bitcoin will take a dive. So when Bitcoin takes a dive I watch my reserve fund and keep the money in the emergency fund and divide the remaining money by 5 and invest it with DCA. That is, my monthly DCA is $100, if I have $1,000 in the sinking fund, then $500 in emergency funds and $500 in aggressive investment. So 500 divided by 5 is $100. So for the next 5 months at the time of dip, I DCA $100+$100=$200. In this way, 1 out of 3 is investment and 2 is reserve fund. But one thing is to be noted, the money deposited for the emergency fund at the time of sinking is not added to the reserve fund again. That is, the first time when we divide the reserve fund into 2 parts and save 1 part for the emergency moment, later we form the reserve fund again. For example, in the first year the reserve fund is $1,000 to $500 for emergencies and $500 for being aggressive. Next year, keep the same reserve fund, $1000 to $500 for emergencies, $500 to be aggressive in investing. That means after 2 years the emergency fund will be $1000 and I used $1000 to be aggressive in investing. Such an approach may not be acceptable to many, but personally I have had success with this strategy so far.

There is no need to study bitcoin in any kind of depth prior to getting started investing into it, perhaps beyond just considering that bitcoin has decently good chances to go up in the next 4-10 years or more.  The other thing for the investor to study is a mere conclusion about whether he has any disposable income or not, which he should already be able to assess whether he has an extra $10 or $100 or $1k or whatever might be his initial investment amount, and so from there on out if he starts to buy bitcoin on a weekly basis, he can get his cashflow management in order, which sometimes can take a while to get into a solid and strong place, and he can study various aspects of bitcoin at the same time.


I agree with you here.  There are so many folks who are overly excited about $100k.  Sure, it is a nice round number, yet at the same time, it remains quite overrated as some kind of a stopping point or some target that is really meaningful in the whole scheme of things.


That is not true.   Lump sum does not have to be employed on the dip.  If you believe that lump sum has to be employed on the dip, then you don't seem to know what lump buying is or how it differs from buying on the dip.

Sure, you can choose to allocate some lump sum for buying on the dip, yet there are disadvantages to any waiting strategy in terms of how much of a dip you are wanting to get and/or how long you might want to wait for such possible dip that may or may not end up coming.

Whether you employ buying on the dip or not with the lump sum that you have available may also depend upon how much BTC you have already been accumulating.  If you are brand new to bitcoin and you have no bitcoin, then you would likely consider the matter differently as compared with someone who might have had been involved in buying bitcoin for more than 3 years.

And even with you, laijsica, potentially you have been involved buying bitcoin for 7-8 months (based on your forum registration date), you might not be advantaged by waiting for a dip versus just buying right away if you wre to have a lump sum amount of fiat come available to you.

Let's say that either a brand new person to bitcoin or you, suddenly came across $6k that he could completely authorize to invest into bitcoin.  What is that newbie bitcoin going to do with that money in terms of how to accumulate bitcoin?  What are you going to do?  You have three categories to consider, which is DCA, lump sum and buying on dip.  Sure, you can combine them, yet they are still three separate categories to consider, and the answer is not obvious since there are advantages and disadvantages to each of the three BTC buying methods. Maybe if someone is confused, then as a default starting point, he might consider to divide the money into three equal amounts $2k to each of the methods... yet surely his own particular circumstances may well make a difference, such as if either he had already been buying $100 per week in BTC in a DCA way and/or if he plans to continue such already existing $100 per week DCA strategy, the considerations of how to treat the extra $6k should be considered within such context, but also within the context of considering all of the guy's 9 factors.


At least it seems that you understand the three methods, even though you seems to be conceptually mixing them up at the same time.


That is a fair assessment if you already are within a dip and you receive the extra money.. yet if you are not in a dip, then lump sum buying would include deciding whether to buy right away or if it is worth it to wait for the dip with such money, and of course, you do not necessarily need to allocate the full amount to whatever decision you end up making.


I would say that you are correct in the sense that if a guy has strong cashflow management systems in place, which would include having sufficient levels of back up funds, then he is in a stronger position to invest more aggressively into bitcoin with any potential extra income that he gets currently or in the future.  If his cashflow management and backup funds are not in a good position, then it well could be a good idea to use some of any current or future discretionary income (whether regular salary or some lump sum amounts that he might receive) to put his back up funds into a better position, and sure, since money is divisible, he can build his back up funds and his bitcoin holdings at the same time... so then once his back up funds are built to a sufficiently stronger place, then he would be able to invest into bitcoin more aggressively from thereafter with his future income or any income he has coming in... of course, the discretionary portion of the income (the part that is beyond what is needed for his expenses).


By definition, lump sum allows buying right away, so whether that is held in order to buy on dips, then that would cause it to be buying on dip deferral, or it could be deferred to buy in a DCA kind of way.. but yeah, if it is used to buy right away, then that becomes an option too, whenever anyone might receive a large quantity of cash that might not have had otherwise been available.