Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Rabata
on 30/03/2023, 17:33:36 UTC
⭐ Merited by JayJuanGee (1)
There have always been some aspects of bitcoin that have been scary that might dissuade newbies from wanting to get involved in bitcoin and perhaps some of the more recent attacks on exchanges might cause people to worry about getting involved in bitcoin, even though maybe the better course of action still might be to get involved in bitcoin, but to figure out ways to self-store decent portions of whatever bitcoin that you end up buying.

So, yeah we are getting back to the various ways in which just getting started and getting involved is likely going to be the better of the teachers, even if many of us likely shared in our having a lot of misconceptions regarding what is bitcoin and the fact that we can buy small amounts at a time - so long as we can find someone or some entity willing to sell us bitcoin in such small increments.... and the longer that we are into bitcoin, the more we learn and likely the more that we could well end up being inspired to learn more.

Of course, people likely already have demands upon their time, so there is a certain amount of dedication that is needed when learning and getting involved in any new thing - so in that regard, there are needs for motivation to believe that it is important to learn about something like bitcoin, and frequently people might get overwhelmed because they think that it is too confusing, and so in that regard, frequently there are ways to attempt to just learn little by little and the more that we learn then the more that we are able to understand more complicated aspects of bitcoin, and there are a lot of us who have been in bitcoin for a very long time, but still we may only know certain parts of bitcoin or certain angles of bitcoin, so it is not easy to really get some comprehensive understandings of all areas of bitcoin - but we still do not need to know everything or to know all areas in order to get started buying bitcoin and to attempt to learn while investing, and even just figuring out ways to buy small amounts such as $100 per week or even $10 per week, while ongoingly setting aside some time to learn more about it at the same time while initially building a position that might be a pretty small position  and some people do not even have a lot of spare cash, so those people likely are better off by just investing small amounts as they are doing their initial learning about bitcoin.. and yeah, they may end up with regrets that they did not invest more earlier on, but that's just the way of the world.. not everything is fair, and if some of us recognize that there might be some important aspects of bitcoin that we might be missing, then we might end up getting motivated to spend more time learning about it rather than either waiting or just taking a long time to learn about it.
I have been concerned for a while about what you mentioned when various exchanges were threatened with invasion. Luckily for me when the FTX exchange collapsed I had a plan a few days ago to put some money and buy some FTX tokens. But the collapse of FTX a few days later got me puzzled. I certainly would have lost a big amount.

There is lot of discussion and criticism about Bitcoin in my local area. Most of the transactions are done through the Binance P2P. One can easily buy bitcoins from there. I have also noticed that people who understand a little about Bitcoin still love to keep their money in the exchange. They still show no interest in other wallets. But there is a social awareness among them that they are very interested in Bitcoin. Some even save a small amount of bitcoins. I think it's really admirable that they have such a good idea about Bitcoin. When bitcoin roars again the number of rich people in my local area will increase ‍significantly.