Quote from: Minecache on March 10, 2023, 03:44:01 AM

Quote from: cryptomaniac_xxx on March 09, 2023, 09:19:12 PM

Quote from: Franctoshi on March 09, 2023, 09:02:19 PM

Some people might be Panic selling right now due to fear of uncertainty, While this is really the right time to start building up your portfolio and I'm buying more of Bitcoin. However, if you had missed the first pump on January, now seem to be another nice time to get in. I have actually started adding up a little more of Bitcoin Into my portfolio at 20.7k and will continue to DCA down the line ,HODL and believing that history will reward us in the coming future.

I have been holding for the last 6 months, and I will say that I'm not deter with this dump again, I will continue to do what I have been doing in the next 6 months or so.

Now as for the price, it's going down hard to $20,300, now it doesn't look good because on the first 2 months, the price really seems to take off. Unfortunately, it's very different time day. For those doing DCA, this is another opportunity again. For those who are buying one time and looking to enter, this is also a golden opportunity. So do not be negative when we see the price declining, but instead make the best out of it by stacking sats.

I was really unhappy when bitcoin suddenly increased by more than 50% in the first 2 months of the year, causing me to change my plans and accept that bitcoin will no longer be cheap to accumulate. But finally, bitcoin corrected again, I don't know if anyone panicked when buying bitcoin at 24k, but I'm happy when bitcoin drops below 20k. Given the situation, I predict this won't be the last chance this year, but we should take every opportunity. Buying bitcoins under $20k is something that will never be seen in the future, so we need to make full use of it.

The truth of the matter is that we don't really know which way the BTC price is going to go in the short term. I recall that when I first got into bitcoin in late 2013, my main strategy for the next year and a half was to buy bitcoin and if I spent any bitcoin, then I would replace it within days of selling it.. so I was quite a bit biased in regards to BTC accumulation and I was worried about not having enough.

So in spite of my bias towards BTC accumulation, by mid-2015, I had realized and recognized that I had over-accumulated my earlier targets, and therefore, I spent quite a bit of time to model out ways in which I would be able to sell some BTC as the BTC price goes up (presuming that the BTC would go up at sometime in the future), so that I could figure out a comfortable way to balance out the "overaccumulation" that I had assessed myself to have had done.

So, even though I had put systems in place to sell small amounts of BTC on the way up and to buy on the way down, when the BTC price shot from around $300 to $500 in a matter of only a few weeks, I ended up panicking and I abandoned my plan to sell on the way up, and I ended up using quite a bit of my left over cash to buy near the early November 2015 top of $500.. which largely meant that I had done the opposite of what I had planned and I had also fucked up my plan because I did not have much of any budget to buy when the BTC price corrected back down to $300-ish and took quite a wile to get back up to $400 and largely got caught in the lower $400s for the next 6 months (until the end of May 2016).... so yeah, I fucked up my situation because I got emotional, and I am pretty sure that I did not make that same mistake again.. because I learned from it.. and it is not easy to learn from these kinds of mistakes or even to have conviction that you have learned something that you are going to be able to apply in the future because every time in the future there remains quite a bit of uncertainties regarding what the BTC price is going to do in the short to medium term, and largely if you create a plan that is well thought through in advance, it tends to be best to mostly stick with that plan because you shiould have already largely accounted for extreme possibilities in your plan so that even if the BTC price ends up going beyond the extremes that you had thought to be possible, the most that you likely should be doing is tweaking your plan rather than panicking and throwing out the plan.. and then making up some inadequate, spontaneous and likely emotionally driven plan..

Quote from: imamusma on March 10, 2023, 04:52:42 AM

Quote from: JayJuanGee on March 09, 2023, 07:22:30 PM

Quote from: imamusma on March 09, 2023, 04:32:49 PM

-snip-

Well that seems to be part of the purpose of this thread, in order to discuss various ways in which to accumulate BTC in such a way that any of us might be able to put our own individually tailored systems into place so that we don't feel as emotional about or BTC sales and/or our BTC buys so long as we might consider that overall we are attempting to treat bitcoin as a long term investment, so in that regard, we might feel better to sell a bit of our bitcoin on the way up.. but might not feel compelled that we have to sell large portions or even any of it on the way up if we might establish other systems for ourselves to deal with seemingly inevitable ongoing BTC volatility.. ONE of the most inevitable things in bitcoin seems to be that it is going to be volatile - so if we already can recognize and appreciate the likely inevitability of BTC's volatility, then we are likely in a better place to deal with such ongoing inevitable volatility by putting systems into place, and surely some of the emphases of those systems that each of us puts into place is going to vary from one another, but if we are able to bat around the varying ideas (including in places like this thread), then we are likely going to put ourselves into better financial/psychological circumstances to be able to deal with such.

Psychological pressure seems unavoidable given that market volatility sometimes does not show any increase after some time. I've been gaining -15% in the last 30 days, my portfolio value is dump and that's kind of annoying and puts a lot of psychological pressure on me. But sure - take a deep breath and hold with it and accumulate as much as I can even if it's not more than $100 a month. This means I can save $25 per week, max $30 and would really like to do more if inflation didn't take a toll on my financial situation.

There is a good chance of a dip this time as FUD really haunts the market. Obviously allows me to get a lower price for the same goal in the long term. This thread and the discussions that it has led me to feel a sense of belief that bitcoin has unquestionable potential, in the long term of course.

For sure it is not easy to figure out how much to buy regularly, how much to buy on dips and how much to hold in reserves.. So there can be a bit of a moving target, including sometimes we run out of money when we are buying on the way down, and we are forced to HODL until maybe the next time that we get enough cash to buy, which could be two weeks, but sometimes we might not have enough cash to buy more for 1-2 months... so yeah, it does seem to help to be in profits in your BTC portfolio, even though that does not completely resolve the dilemma, especially if you feel that it is taking forever and you are having difficulties in seeing progress.. which could take 3-6 years or even longer before you start to feel that you are making some measurable progress, and sometimes there are even bitcoiners who have been involved in bitcoin for more than 6 years, but they still feel like they are making mistakes and not making progress.. but harder to make those kinds of assertions if you are not fucking around with trading and you are mostly just buying on a regular basis to the extent of your own abilities and not trying to compete with anyone except for trying to be a kind of prudent, reasonable and perhaps assertive/aggressive version of yourself.. in terms of focusing on BTC accumulation while at the same time realizing that there are not any guarantees that you are going to not end up losing everything.. .. so there are ways to attempt to engage in risk management too. and try to preserve your principle without gambling and/or without taking too many risks.

Quote from: ajiz138 on March 10, 2023, 07:27:54 PM

Quote from: JayJuanGee on March 08, 2023, 09:05:52 PM

Part of the truth of the matter when someone might either start to get more elderly in their 60s, 70s or 80s, they become somewhat uncertain about how long their time horizon is, as compared with someone who might be in his/her 20s, 30s, or 40s who might be saving up for a house or some large purchase, so the time horizon has to do with considerations of when they are wanting to be able to make those larger purchases, rather than end of life and/or retirement considerations.

Actually I don't have data on how many 60-70 year olds are still active in investing in bitcoin with DCA or hoarding in any way to project it but I predict that those who do this are among young people maybe at the age of 20-30 years who are still young enough with all the big dreams of bitcoin as long as they invest it, of course their hope is to buy something that has been coveted so far by buying an expensive house or car in the process of saving in bitcoin but if they set a 10 year HODL then they can get greater profit from the results of such patience.

It is likely a bit more difficult for someone to add new classes of investments (such as an asset like bitcoin) to their investment portfolio or to make any kinds of large changes to their perceptions of investment practices that might have already worked sufficiently well for them... It is not impossible, but surely it can be quite scary for someone who is older to either add something new or even to go through enough hours of research to figure out the value of bitcoin's investment thesis.

There might be some classes of older investors who are more receptive to the idea of adding something like bitcoin to their investment portfolio..

Another thing that sometimes bothers me when I hear really young investors throwing out their anti-government, and burn it all down ideas is that sure there may well be some receptivity that younger investors have to bitcoin or any other investment, because they might be starting with hardly anything.. so they may well be more than willing to get into bitcoin because they believe it is a new system and the old system has to be burnt down.. which really seems to be a kind of naiveté in my thinking .. even though surely, there is truth to differing ways that anyone might think when they have already established a lot of assets (including investments) compared when they are new and they might not have any other assets.. but that lack of assets does not all of a sudden make the no (or low) asset person correct merely because they thereafter blindly invest into bitcoin without considering the various potential of other assets..

And don't get me wrong, I am not even suggesting that there is any need to diversify into other assets when someone is a new investor, I don't see anything wrong with going straight to bitcoin and building up their investment portfolio with just bitcoin and dollars and perhaps when the investment portfolio reaches a certain size, then that same investor might need to consider the extent to which diversification might be a good thing rather than not having any other assets... so yeah an older investor might have property, equities, bonds, cash and other forms of investments that have been largely building and they perceive to have had been adequately working for them.. because they appear to be ongoingly going up in value (dollar value - but they might have little to no clue about the extent to which the dollar has been debased and continues to be debased... so yeah, it can be difficult to see and understand bitcoin's value proposition and young people are not necessarily smarter in those regards, but they might be willing to take chances.. including appreciating number go up technology.. which really is an incomplete believe, even if that framework might be enough to end up being correct)...