Minimalism in Bitcoin would slow your accumulation process - page 3.

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Quote from: bettercrypto on March 14, 2024, 01:41:13 PM

Quote from: Stablexcoin on March 14, 2024, 08:00:56 AM

How much profit we get from our investment is directly proportional to how much Bitcoin we have in our portfolio and so if you're interested in making more profit, there is no two ways about it, you've got to figure out ways to accumulate more Bitcoin, especially when it's bearish.

The advantage is that you don't necessarily have to wait for years before meeting your goal. Those who bought in bulk when it was bearish have probably reached their goal at the current $72k while those who bought a minimal amount even years back when Bitcoin was around $20k will be in profit but wouldn't have a profit anywhere close to someone that starched a good amount of Bitcoin at let's say $40k

What I'm saying is that as much as it's important to buy based on our financial capacity, it's also good to put in additional effort to starch more in our portfolio if we are interested in making a good profit from our holdings. Remember that your profit is directly proportional to how much you've starched up in your portfolio.

You know, in this day and age, even if you are not a wealthy person or earn a lot of money monthly, if you have a deep goal, for sure you will be able to save Bitcoin, even if it's just a small amount. If you do it repeatedly at the beginning, you won't feel what you are doing, but as time goes by, you will feel the high value of what you save one day.

Actually, that's how I'm starting now, little by little. I want to save Bitcoin 10 years from now because I am pretty sure that bitcoin's price value will be high when that time comes.

From your perspective your wrong. Not everyone can buy and hold bitcoin. Yes people are working hard to earn money so that they can invest in bitcoin. Little money from 100$ below in bitcoin is not worth keeping because it is risky. If the price of bitcoin goes down drastically the $100 worth bitcoin will worth nothing by then. If oke needs to invest in bitcoin he should hold nothing less than a thousand dollars in bitcoin. This advice is for a good reason, no one knows how the price movement will be during the having and some persons dont even afford up to $100 a month and you expect them to hold bitcoin even if it is a fraction. How long will it take them to reach $1000 in bitcoin?

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Quote from: kentrolla on March 14, 2024, 01:08:12 PM

You know what's the biggest problem? Either people don't have enough money to invest or they randomly enter market and exit as well.

First people need to think of earning more than what they have been earning to allocate a part of their salary for Bitcoin investment and whether they wait all the year and invest during bearish market or they do DCA is upto them whichever they feel more comfortable as I prefer DCA.

The problem arises when people don't have sufficient funds to invest and they end up investing the money they have forgotten their living and even a slightest dip triggers panic selling.

People shouldn't invest more than they could afford to lose or let it stay in wallet for few years especially for Bitcoin because no matter how much it dumps it will eventually catch up.

Yes it comes down to patience. ANYONE who ever bought Bitcoin up to 2 weeks ago
.....and HODL'd them are now in profit! even the ones who FOMO'd in just before the
previous ATH 2 years ago which there are very few if any, all I would say FUD'd out as
the price plummeted when DCA would have been a better option.

Quote from: Stablexcoin on March 14, 2024, 08:00:56 AM

What I'm saying is that as much as it's important to buy based on our financial capacity, it's also good to put in additional effort to starch more in our portfolio if we are interested in making a good profit from our holdings. Remember that your profit is directly proportional to how much you've starched up in your portfolio.

Absolutely, I have said it on a few occasions when people have asked if they should
borrow FIAT to buy Bitcoin, I have done it myself a few years ago, it was tough going
to both get it paid back and HODL at the same time, with patience and timing it pays off.

Owning and HODL'ing Bitcoin within its cycle always pays off.

bettercrypto

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Quote from: Stablexcoin on March 14, 2024, 08:00:56 AM

How much profit we get from our investment is directly proportional to how much Bitcoin we have in our portfolio and so if you're interested in making more profit, there is no two ways about it, you've got to figure out ways to accumulate more Bitcoin, especially when it's bearish.

The advantage is that you don't necessarily have to wait for years before meeting your goal. Those who bought in bulk when it was bearish have probably reached their goal at the current $72k while those who bought a minimal amount even years back when Bitcoin was around $20k will be in profit but wouldn't have a profit anywhere close to someone that starched a good amount of Bitcoin at let's say $40k

What I'm saying is that as much as it's important to buy based on our financial capacity, it's also good to put in additional effort to starch more in our portfolio if we are interested in making a good profit from our holdings. Remember that your profit is directly proportional to how much you've starched up in your portfolio.

You know, in this day and age, even if you are not a wealthy person or earn a lot of money monthly, if you have a deep goal, for sure you will be able to save Bitcoin, even if it's just a small amount. If you do it repeatedly at the beginning, you won't feel what you are doing, but as time goes by, you will feel the high value of what you save one day.

Actually, that's how I'm starting now, little by little. I want to save Bitcoin 10 years from now because I am pretty sure that bitcoin's price value will be high when that time comes.

kentrolla

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You know what's the biggest problem? Either people don't have enough money to invest or they randomly enter market and exit as well.

First people need to think of earning more than what they have been earning to allocate a part of their salary for Bitcoin investment and whether they wait all the year and invest during bearish market or they do DCA is upto them whichever they feel more comfortable as I prefer DCA.

The problem arises when people don't have sufficient funds to invest and they end up investing the money they have forgotten their living and even a slightest dip triggers panic selling.

People shouldn't invest more than they could afford to lose or let it stay in wallet for few years especially for Bitcoin because no matter how much it dumps it will eventually catch up.

Zaguru12

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Quote from: pooya87 on March 14, 2024, 09:42:26 AM

The problem you're describing is all about greed. People who didn't buy as much bitcoin as they could back when price was in $20k-$30k range were greedy thinking price would fall down more. I remember the topics telling them (or rather fooling them) into believing price is going down as low as $15k so they waited and refused to buy.

People who do that, will also wait after price goes up to something like $40k because in their head they were calculating their profit based on $15k entry and $40k is terrible; so they wait for $15k then price goes up to $50k, $60k, $70k and keeps rising until they buy at a massive loss during a FOMO at something like $300k.

DCA is good for these people because it gets them to buy something even if they get greedy.

Your points aren’t far from what is currently happening at the moment as the price is going up fast, many people or investors are of the opinion that the market will take correct most were predicted that this will be after the old ATH of $69k has been broken, it’s over a week now and the market still isn’t looking like a thing that wants to take correction. I am not disputing the fact that there will be corrections in the market but delaying to invest into bitcoin because the price is increasing is taking two risk;
1. This price you think is high might be the lowest we will ever experience and you could be missing out big time.

2. Not investing means you might be leaving your funds on inflationary assets like fiat which is a loss on its own or except you have it on other stores of value.

As you said DCA just at any moment you have funds to buy

Husires

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The definition of what is sufficient Bitcoin or money depends on many variables such as age, country, social status, initial investment, return on investment, and the goal of investment, and this is what makes a 30% increase considered sufficient for some, and they have already sold it at a price of 70k, or it may be considered the beginning of the journey for others.

AprilioMP

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If Bitcoin is the destination behind the plan in expecting profits, I think when the market is at the beginning of the bull Run and it still continues in a condition like now there is no other way but to hold the existing one and to buy again with the aim of increasing it is not a good choice If I suggest buying at a relatively high price.

As for many finances who do not know what you want to use for, buying bitcoin at this time in the midst of a relatively high price condition is still an option in my opinion because when the price of translucent $ 100K, then from now on it does not take time to hold.
For example in the next 3 months Bitcoin is able to reach $ 100K, the profit gained with the current purchase price is also not small.

jrrsparkles

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Quote from: Stablexcoin on March 14, 2024, 08:00:56 AM

How much profit we get from our investment is directly proportional to how much Bitcoin we have in our portfolio and so if you're interested in making more profit, there is no two ways about it, you've got to figure out ways to accumulate more Bitcoin, especially when it's bearish.

The advantage is that you don't necessarily have to wait for years before meeting your goal. Those who bought in bulk when it was bearish have probably reached their goal at the current $72k while those who bought a minimal amount even years back when Bitcoin was around $20k will be in profit but wouldn't have a profit anywhere close to someone that starched a good amount of Bitcoin at let's say $40k

What I'm saying is that as much as it's important to buy based on our financial capacity, it's also good to put in additional effort to starch more in our portfolio if we are interested in making a good profit from our holdings. Remember that your profit is directly proportional to how much you've starched up in your portfolio.

If profit making is the only intention then bitcoin is one way but not the only way, there are lot of shitcoins that gave more returns than bitcoin in this cycle especially some meme coins whereas you are looking for the proven coin that is only bitcoin and you can throw all your money with no hesitation but it can take time to grow as the spike is gradual comparing to shitcoins.

kryptqnick

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Accumulating Bitcoin is a good advice, and while some altcoins can offer higher short-term profits, I agree that it's much safer to simply stick to Bitcoin. Still, for a decent profit, you might have to wait for several years because, on average, Bitcoin bear cycle takes around 3 years (here by "bear" I mean being well below the former ATH).
That being said, some might say that it's unreasonable to put all eggs in one basket, and that it's better to diversify one's investments. I don't think diversifying within the crypto market makes much sense, but one can be reasonably interested in different assets like bonds or real estate, too.

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Quote from: pooya87 on March 14, 2024, 09:42:26 AM

The problem you're describing is all about greed. People who didn't buy as much bitcoin as they could back when price was in $20k-$30k range were greedy thinking price would fall down more. I remember the topics telling them (or rather fooling them) into believing price is going down as low as $15k so they waited and refused to buy.

That means they are very greedy. The reason I said that is because bitcoin still fall below $20000. I can remember that bitcoin got to $15500. That was in December 2022. But such people may still think that bitcoin price will continue to fall lower and their expectations may fall to bitcoin will fall below $10000. Even if bitcoin fall below $10000, they may not still buy and expect the price to fall further. Later they will be blaming themselves after the price increase. Bitcoin stayed below $16000 many days before it started increasing in January 2023 when bull run started at the time.

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Quote from: Stablexcoin on March 14, 2024, 08:00:56 AM

How much profit we get from our investment is directly proportional to how much Bitcoin we have in our portfolio and so if you're interested in making more profit, there is no two ways about it, you've got to figure out ways to accumulate more Bitcoin, especially when it's bearish.

It is not advisable for us to be making a business and be taking from it while its still under a developmental stage, we have to learn on how we can build our business, same applies to any investment we are doing, we don't need to take the profits until we are far in doing it and have earned to an extent, that when we take the profits, the investment will remain unaffected by such decision.

tranthidung

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Quote from: pooya87 on March 14, 2024, 09:42:26 AM

The problem you're describing is all about greed. People who didn't buy as much bitcoin as they could back when price was in $20k-$30k range were greedy thinking price would fall down more. I remember the topics telling them (or rather fooling them) into believing price is going down as low as $15k so they waited and refused to buy.

They always react to the market like this. Hope it goes down, more and more to have cheaper price for their entry but when things goes exactly like they hoped, they turn to be fearful and worry that price will go down more than their expected entry.

They ignore good prices and feel regret when market recovers from bottom area. Then they hope to see a correction to buy in but such wanted correction might never come. Even it comes, it's likely they will be fearful again.

They usually join the market after Disbelief phase and even in late of Euphoria phase.

Psychology of market cycles

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Quote from: Stablexcoin on March 14, 2024, 08:00:56 AM

What I'm saying is that as much as it's important to buy based on our financial capacity, it's also good to put in additional effort to starch more in our portfolio if we are interested in making a good profit from our holdings. Remember that your profit is directly proportional to how much you've starched up in your portfolio.

How much you make from Bitcoin Investment is determined not just by how much you put in but also how much you bought. Everyone will have to invest based on their capacity. You don't expect people to deprive themselves of basic needs of life because you want to buy Bitcoin. But I get you point OP, we need to pay some price to ensure that we accumulates as we can. If it will cost us to reduce our expenses or taking addition job to buy Bitcoin, I think it is worth it.

Quote from: Plaguedeath on March 14, 2024, 08:51:44 AM

Not every person dare to use all of their money to buy Bitcoin at once, even people already use DCA strategy to minimize the risk, but they're still sold Bitcoin when panic and not able to hold for long term. Moreover not every people are rich i.e. have a lot money and can do anything that they want, most people are an employees which get paid every month, so if they buy Bitcoin for every month, they're using DCA strategy.

DCAing is the perfect strategy for long term Bitcoin investors because it spreads the risk since you buy in different price. But it will not be bad to buy Bitcoin using lump sum if the price drops drastically and you have the funds to invest. For salary earners applying monthly DCA strategy will be perfect.

pooya87

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The problem you're describing is all about greed. People who didn't buy as much bitcoin as they could back when price was in $20k-$30k range were greedy thinking price would fall down more. I remember the topics telling them (or rather fooling them) into believing price is going down as low as $15k so they waited and refused to buy.

People who do that, will also wait after price goes up to something like $40k because in their head they were calculating their profit based on $15k entry and $40k is terrible; so they wait for $15k then price goes up to $50k, $60k, $70k and keeps rising until they buy at a massive loss during a FOMO at something like $300k.

DCA is good for these people because it gets them to buy something even if they get greedy.

livingfree

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Quote from: Stablexcoin on March 14, 2024, 08:00:56 AM

How much profit we get from our investment is directly proportional to how much Bitcoin we have in our portfolio and so if you're interested in making more profit, there is no two ways about it, you've got to figure out ways to accumulate more Bitcoin, especially when it's bearish.

I agree but what's the problem during the bearish market is that most of those people that are wanting to accumulate now feels that there's a sluggish movement of Bitcoin and there's no future with it while looking at that state.

Quote from: Stablexcoin on March 14, 2024, 08:00:56 AM

The advantage is that you don't necessarily have to wait for years before meeting your goal. Those who bought in bulk when it was bearish have probably reached their goal at the current $72k while those who bought a minimal amount even years back when Bitcoin was around $20k will be in profit but wouldn't have a profit anywhere close to someone that starched a good amount of Bitcoin at let's say $40k

As long as you've bought at a cheaper price compared to the high that we're having, that's fine no matter what's the price entry you get in.

Quote from: Stablexcoin on March 14, 2024, 08:00:56 AM

What I'm saying is that as much as it's important to buy based on our financial capacity, it's also good to put in additional effort to starch more in our portfolio if we are interested in making a good profit from our holdings. Remember that your profit is directly proportional to how much you've starched up in your portfolio.

And what's important is don't go with the crowd that are blindly doing things or believe what they think is right. Not at all times they're right about not buying and waiting for some more dip.

If it's about the dip, you probably have met it but ignored that moment of buying it until you can no longer see that price that had dipped before.

Reatim

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Yes it is ideal but again even with extra efforts,
one can only do so much with what is given to them.
Some people still have responsibilities that they can't
leave behind and deadlines to be met. It's also not ideal
to have some debt just to invest in crypto because it's too
risky either way.

Yes we should do everything in our power to accumulate Bitcoin but we should not also be reckless and irresponsible and impulsive when making decisions just to invest in Bitcoin.

Plaguedeath

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Not every person dare to use all of their money to buy Bitcoin at once, even people already use DCA strategy to minimize the risk, but they're still sold Bitcoin when panic and not able to hold for long term. Moreover not every people are rich i.e. have a lot money and can do anything that they want, most people are an employees which get paid every month, so if they buy Bitcoin for every month, they're using DCA strategy.

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How much profit we get from our investment is directly proportional to how much Bitcoin we have in our portfolio and so if you're interested in making more profit, there is no two ways about it, you've got to figure out ways to accumulate more Bitcoin, especially when it's bearish.

The advantage is that you don't necessarily have to wait for years before meeting your goal. Those who bought in bulk when it was bearish have probably reached their goal at the current $72k while those who bought a minimal amount even years back when Bitcoin was around $20k will be in profit but wouldn't have a profit anywhere close to someone that starched a good amount of Bitcoin at let's say $40k

What I'm saying is that as much as it's important to buy based on our financial capacity, it's also good to put in additional effort to starch more in our portfolio if we are interested in making a good profit from our holdings. Remember that your profit is directly proportional to how much you've starched up in your portfolio.

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