Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
JayJuanGee
on 02/03/2023, 21:14:40 UTC
[edited out]
Previously thank you for giving a little advice that is quite useful. Yep, in this condition I am still very young, especially in this case, I have only been involved in bitcoin for over a year, which before I was someone who could indeed be said to be against this.
Maybe this condition can still be said to be greedy in the condition you are referring to because indeed I am still trying to add to the portfolio that I have now because I have only been using this for a while.

It took me about a year (from late 2013 to late 2014) to establish my initial bitcoin position, and I had already been investing and building my investment portfolio for more than 20 years by the time I started to add bitcoin into my investment portfolio.  And, by the end of 2014, I thought that I largely had enough BTC, but I could not resist to continue to buy BTC for the next couple of years.. and sure my accumulation strategy and approach was a bit less aggressive/assertive in those next 2 years of 2015 and 2016, but still I spent time getting to a place (or continuing to try to get myself to a place in which I was more comfortable in terms of my bitcoin stash).. So perhaps there is always a kind of ongoing persistent and pestering element that we cannot really feel comfortable until our holdings are in profits.. and of course, the more that we end up being in profits, then the more options we start to feel that we have, so in that sense, we gain a lot of comfort and confidence merely by being in profits..

Another thing is that it seems to me, that if I had not started out with already having a long time (of more than 20 years) building my various investments, it probably would have taken me quite a bit of time to build my BTC holdings.  I cannot have confidence in terms of what kind of approach that I would have taken if I had been 20 years younger and just approaching investing in 2013.. so there is a bit of speculation there.. because of course, I had not known about bitcoin when I was first building my investment portfolio.

Another thing seems to be that bitcoin may well cut our times down in which we might have to invest in order to be able to achieve and appreciate large profits, but it likely still does not mean that we are going to be able to get rich in a few years.. rather than the normal 30 to 40 years that it would usually take and some folks do not even have high levels of success in their investments, even if they spend 30-40 years building their investment portfolios.

[edited out]
Well, I will try to apply this and start to understand again what you mean in terms of excess because there's really nothing wrong with doing that as long as the conditions are getting better because sometimes things like this are what we can take especially when looking at my experience and clear condition much different.
Initially, my plan was to still buy, even though it was slightly reduced when the price exceeded $ 30k, but when it comes to something that is excessive, there are conditions where we have to look at several possibilities and there are other favorable situations, so it's not wrong to review what I'm planning.

It seems to me that when you are building your investment portfolio, it is good to just keep chipping away at it.. because it could take a very long time before your investment portfolio starts to seem like it is a meaningful amount, and yeah, of course, sometimes we are going to have doubts along the way that could cause us to stop or to lessen the amount of our investment, and sometimes those doubts will cause some of us to withdraw portions from the investment (including profits), which may well not be good idea for the real exponential nature that seems to come from compounding effects.

And, yeah there are no guarantees so sometimes we can have a lot of dilemmas along the way about whether to continue to invest, how much, whether to withdraw some, and some of those decisions can make very large differences down the road, even though they might seem like minor decisions at the time that we make them, and it becomes really tempting to pull out profits when we are up 100% or even 2x or 5x, but still that might end up serving as a kind of withdrawal of too much too soon and contribute to our becoming a bitter no coiner (or a bitter low coiner).. and yeah, each of us is responsible for his/her own decisions regarding how to manage these risks and whether we might be tempted into actions that might seem good in the short term but end up reducing our investment way more than the amount that we had benefitted at the time that we withdrew some or all of our investment.