Topic: Buy the DIP, and HODL! - page 95. (Read 142035 times)

Using DCA can be a very easy and efficient approach to long-term investing, especially if employing bitcoin. We can hence avoid the fluctuations in price because with DCA, our aim is to buy as many assets as possible over time. This means we are not so fixated with the current price, but we are more interested in the future possible use. Periodic buying is effective if you’re interested in investing in Bitcoin, although this will be far better than waiting or not investing in the first place.

However, while altcoins or “shitcoins” could appear to be enticing, all a majority of them seem to possess big risks when it comes to long-term investment. What we have in Bitcoin is an asset of far higher stability, that is also recognized as being a sound form of wealth. Eschewing the froth and picking our assets carefully is therefore a crucial decision because often when we decide to have a clear hierarchy of assets like Bitcoin over shitcoins then we are shielded from loss that is normally likely to emanate from pure speculation. Thus, once the option arrives, it is far more beneficial to invest in Bitcoin than to waste your time and fortune on the constant fluctuations and problems associated with shitcoins.

Of course it is very easy because you simply for now you just have to buy what you can buy and do it regularly regardless of the price because DCA's focus is clearly for the next few years or decades because so it doesn't matter what the current price is when you really want to try to buy bitcoin then do it because it will be better than nothing.

Saying shitcoin is easy sometimes actually this will actually be tricky because in the end being in shitcoin will actually make you indirectly tricked by conditions where you are trapped in endless hype which in the end this will actually harm yourself especially if the goal is long-term then shitcoin is clearly not the right choice so if the comparison is you are confused with bitcoin or shitcoin then at least you have a priority scale and of course bitcoin will be much more worth it than shitcoin.
 

Yeah you are right one should not use the word crypto because using such word when talking about Bitcoin is not right you are misleading them, this are the reasons why you see a newbie thinking that shitcoin and Bitcoin are the same, if you are discussing about Bitcoin don't use crypto in place of Bitcoin because if you do you have misled some newbies.
For clarity Bitcoin is different from crypto coin those crypto coin you see are also called shitcoins they are not same with Bitcoin.

I disagree with you when you said there is no best option when it comes to bitcoin investment, if a newbie goes into Bitcoin trading it won't be the best for him at that moment the best for him at that stage of his Bitcoin career is long term investment just buying and hodling, there are best options for Bitcoin investment if you choose the wrong part it may delay your accumulation journey for example waiting for dip.
Some people succeed in there Bitcoin investment and some didn't and those that didn't succeed there are people inside that failed because of wrong approach.

It's funny though I see it as unfortunate for some people because lack of understanding and wrong approach towards investing in Bitcoin has always been a problem for some investors, some people are very much obstructed the idea of buying when the price is dip but failing to understand that you can't be waiting for something that may not come easily or even happen as you assumed it to be, why will someone who is ready to invest in Bitcoin wait when there is good strategy that can enable us buy at ease and maintain it continuously as we can, every investor should have a target, an investor should try to be smart in other not to discontinue his investment plan, funds that are meant for Bitcoin investment should not be kept idle to wait until the dip before buying because there has never been a time they say we must buy during the dip, Bitcoin investment is a continues process as such no one should allow his or her instincts to deceive them.

If anyone wants to buy, I think the time is now once you are ready to go into the investment, another thing is the right approach which is consistency because it allows you to grow your portfolio slowly, steadily and smartly.
Buddy I love the points you made,  people who were waiting to buy when the price was lower than it's now and having the mindset that it will drop more and refusing to buy years back, I somuch believe that such indidviaus will be full of regret now, I think it's a bad idea to wait when we are suppose to buy and continue doing the needful instead waiting for something that may lead to regret, every bitcoiner mindset should be contered on long-term to enable us achieve plan on ways to achieve a bulky portfolio.

Don't assume that all newbies know that bitcoin is a long term investment because some of them come into this space for quick profits especially now that we are in a bull run that have seen bitcoin making new ATH. We should try as much as we can to give them the right information this time around because we have reached the point where there is unprecedented hype on social media about how new millionaires are about to be made through bitcoin. I saw a couple of such posts lately and the consequence of such posts is that many people are getting on board with money they cannot afford to keep in bitcoin for long with the mindset that bitcoin will make them rich overnight.

The right information is that bitcoin is a good investment option but the best way to go about bitcoin is to hold it for at least 4 years and above. Secondly, while investing in bitcoin, the investor must keep money to cover his basic needs out of bitcoin because such money are not supposed to be invested into bitcoin. In addition, some money should be set aside for emergency which include things that can come up during the investment period which were not planned for. This will help the investor not to sell his bitcoin to solve simple problems that emergency funs would have taken care of.

Don't you think you will still get them more confused by using the word Crypto as a newbie they might go astray by investing into the wrong coin thinking it is Bitcoin it could have been proper you say Bitcoin investment rather than crypto investment.

And I dont think it is much necessary to get all proper knowledge about the best option for Bitcoin investment before investing into Bitcoin and I don't think there is any best option as your options might not be some else options every investor has option that works for them.

You are in the right thread when it comes to starting your bitcoin investment. I can see you are a newbie, and I will advise you to use the DCA strategy in starting your bitcoin investment because it will allow you to consistently accumulate bitcoin without waiting for the price to drop. And since bitcoin is a long-term investment, I will advise you to use the money you will not need for 4-10 years or more to invest in bitcoin so that you will not depend on your bitcoin investment to survive. As for investing in shitcoins, I will not advise you to do that because you lack the experience and knowledge to spot the right shitcoins to invest in, and you will lose all your money if you invest in shitcoins.

You're not wrong to think deep, but sometimes instead of asking too much question it's better to just help yourself by going through the thread to find answers to  your questions, it may seem bulky but it's not necessary that you need to read through the whole to find answers to you seek, if you've atleast tried to read through the most recent page in this thread you'll understand that Bitcoin investment is like the subject matter and the DCA being a method of Bitcoin investment is talked about on several occasions if not everyday.

 You might be so eager to learn about Bitcoin investment and how to build a better portfolio but your question shows that you're not willing to study the thread and understand better as a newbie but rather repeating questions thats been treated in the past and stressing members to repeat the answers over and over, therefore I'll advise you take your time to study more than repeating questions that's quite easy to understand if only you take your time to study the thread.

If you have received good advice from OP, of course you also understand the topic title buy the dip and hodl which currently has so many discussions and good ideas born here. Now you yourself can make a wise enough step based on the advice you have received because you yourself can also imagine how happy the Bitcoin holders were who had bought since the price of $50K to $60K a few months ago. So you can also put yourself as a Bitcoin holder from now on so you can feel better pleasure in the future.

Whenever you visit any thread you should try and read, so that you will not draw people's back from the discussion they have already finished and this question is something that has been discussed for several months now, so it shouldn't be any difficult for you to slide a bit back on this thread you will see a lot of discussion about it even some other things that would be of a help since you are just starting and also it would have make sense if you had at least read somethings about DCA, so that we would no that you have tried your best then we can clarify you better but in this case you have not done anything and even if they explain it you may not still get it.

I had to check the rank of @Student of Bitcoin and @Wolf of One Street, to be sure that they're newbies for asking these questions. And since they're newbies, I guess that I can excuse their lack of proper knowledge.about the best option for crypto investment and what DCA method means. Thankfully, @Justbillywitt, has done justice to that by summarizing the answers to their questions, and it's now left for the two newbies to take it up from there and increase their knowledge. The answers that were given to them are very easy to understand as far as I'm concerned, DCA is not an investment but a method to periodically accumulate Bitcoin, preferably weekly or monthly. Also Bitcoin is the most reputable cryptocurrency that has proven to be a store of value, you accumulate over a long period of time and at every circle you'll continue to get ROI. Most altcoins are shitcoins, you'll be gambling your funds in the process of chasing quick profits on the short term.

I believe that the point that @JayJuanGee, is hitting at is that newbies shouldn't ask unnecessary questions especially when the answers have been given. They should read more, be active in the forum to increase their Bitcoin knowledge, then only ask questions where there's a confusion for them, inorder to get clearity. But questions becomes irrelevant and unnecessary when answers have been given.

What you are thinking deeply about the DCA strategy is not mentioned here. And also I don't think the investor needs to think too much and be experienced to invest in this method. Maybe within a few pages of this thread recently a new member asked how this strategy works or how to invest using this strategy. Many members have given the correct answers, you will get the answer immediately after reading them.

I may have shared a link for newbies about DCA in an earlier post and am sharing that link again so that you can get an idea about DCA very easily.

(What is dollar cost averaging?)= https://www.britannica.com/money/dollar-cost-averaging

Showing a little effort can surely be helpful, and if there is grappling with the materials, then any questions and interactions would be better informed by such grappling with the materials.


Why don't you explain what supposed deep thinking that you have done about DCA.

I've been deeply thinking of this DCA, how does it really work?

Everything you need to know about the DCA are here in this thread. All you have to do is read through some pages of this thread and you will get everything you need to know about DCA strategy. I don't have to explain it to you again.


That's the problem I have with some newbies of nowadays, they are just too lazy to read. They just everything to be served on their table. This is a thread that has discussed extensively about the DCA and other strategies of buying bitcoin, yet here we are, someone is still asking that I should explain how DCA works. Instead of going through the thread to read and digest more knowledge himself.

Just as Justbillywitt said, the DCA is a method of investing in Bitcoin that allows all class, both the whales and shrimps to accumulate Bitcoin Periodically over time and with a certain amount of their choice so far they've got a stable income to continue investing. Bitcoin investment is best for long-term and the DCA method is one of the easiest methods used in accumulating more Bitcoin to your portfolio and one good thing about this method is that volatility is not a big deal to it cause it helps recover loses overtime, all the person using this method just need is a stable income to invest periodically you don't need to wait for price dip to invest so far you're using this method. For instance if you're a salary earner or business person you could decide to use about 30 to 50 percent of your income to buy and hold Bitcoin maybe weekly or monthly and it's to be done for long-term, talking about long-term i meant 4 to 10 years not a year or 2 years interval. If you ain't okay with this explanation, just keep following the thread and you'll get more.

How much of the thread have you read?

Perhaps you should show a little proof of work instead of merely dishing out assignments.

From the little I have learnt about the DCA strategy while moving around the forum, the DCA strategy is a strategy that helps investors to accumulate Bitcoin on basis either weekly or monthly irrespective of the price points, and it is very powerful if applied with consistency over a long term period of time, since not everyone have the money to buy Bitcoin in a larger quantity the dac strategy makes it easier to accumulate Bitcoin within your convenient of your financial levels without any form of making investment decisions under pressure. It also allows new investors to gain experience by having Bitcoin in their possession while already in the market, what to know about the DCA strategy are very many maybe other user can throw more light on it.

Although that advice is very VERY effective especially during the last bear cycles, I CANNOT take any credit from making that advice because Buy the DIP, and HODL has always been one of the main investment philosophies of Bitcoin HODLers since Bitcoin's early days. I merely learned from those very smart and intelligent people.

 

Can you explain better what and how this DCA works?