Quote from: Obari on Today at 04:46:09 PM

Quote from: JayJuanGee on April 19, 2023, 06:00:28 PM

[edited out]

I would have edited some of the post over here but I found all very interesting to me so you guys have to pardon me quoting the entire discussion.
But basically I don't see any reasons why we want to get ourselves worked up with wanting to achieve the fuck you level when we can peacefully enjoy most of the benefits while riding with bitcoin.

I doubt that anyone said that there is any need to ONLY focus on "fuck you status." The idea of fuck you status is used as an example of something that might be considered as a goal, but as you suggest, there are a lot of ways to profit from bitcoin even if it might not end up facilitating the reaching of BIGGER goals, such as reaching fuck you status.

Reaching fuck you status is not easy - and of course, there is a lot of variation in how to frame that kind of a concept, so the absolute numbers would be different for people, even maybe the general idea of entry level fuck you status would be to reach a kind of status in which work becomes optional rather than mandatory... and surely there can be lower levels of becoming enriched by bitcoin in such a way that might not quite reach fuck you status, but still having had invested into bitcoin ends up giving more options than if a person had not invested into bitcoin... and surely there are no guarantees that investing into bitcoin is going to improve your life, but bitcoin does seem to be amongst the best of asymmetric bets that are currently available (if not the best asymmetric bet currently available).

Quote from: Obari on Today at 04:46:09 PM

I've always worked with the simplest principle of bitcoin which is buying low and selling high

Yeah, but in terms of the basic thrust of the thread, we are not talking about trading in this thread, and we are not talking about selling.. even though surely no one is going to disagree with the basic idea of buying low and selling high - while at the same time, if we are talking about a longer term investment that might be 4-10 years or longer, then presumptively the BTC price will be higher down the road, so we might not be getting so much caught up upon short term trades but instead building a BTC position that is held for the longer term, and so any time that sales of BTC might be made down the road, whether 4-10 years or maybe even 20-30 years down the road, then presumptively the BTC price will be higher at the time that any BTC sales are made (and not even referring to selling all BTC, but just shaving off some amounts of BTC here and there as needed.. all profitable if the whole matter plays out in a positive way for bitcoin, while no guarantees, not a bad bet/investment for the longer term.

Quote from: Obari on Today at 04:46:09 PM

and I had to work on my greed to accept every little profit as a win rather than wanting to achieve 5k from 1k investment and just ending up losing everything.

Fair enough.. but still you are seeming to come to this thread with a trading mentality... like you are wanting to get into the investment (BTC in the case of our topic, here), and then to get out of it... but if we are playing the long game, then we will not be considering those kinds of matters of getting a 5x profit in a short period of time or whatever..

Sure any of us is going to feel better if the BTC that we hold is in profits, so then we can have options to sell some of it, but we would not even be talking about selling it all.

Even for myself, I started to get into bitcoin in late 2013, and I did most of my accumulation in the first year (by the end of 2014), but I ended up accumulating more bitcoin between 2015 and 2016 and even later, but still I might consider that my average cost per BTC is right around $1k per BTC.. so if I have mostly held onto my BTC even through the price rise of 2017 my BTC stash got up to 20x, and then shot back down to 3x and then had various price points that went up to 69x and then back down to 15x and then currently in the 28x territory.

So now I am in profits.. just a matter of the level of profits.. been all the way down to 3x in profits and all the way up to 69x in profits, and prior to there were plenty of time that my BTC portfolio was in the negative, even up to 65% in the negative (in 2015 my average cost per BTC was around $550 in the beginning of the year and around $500 at the end of the year, but the BTC price was below $250 for most of the year), and so cost of BTC and level of profitability can change with the passage of time, including that mistakes can be made along the way too (and it is likely that each of us will make some mistakes along the way).

We can also make ballpark estimates regarding the profitability of the BTC that we hold, yet if you are valuing your wealth in short term dollar profits, you might never get to a status in which your BTC holdings are mostly in decently large profitable ranges in order that you might not be getting so worked up about getting out of BTC and getting into dollars. .or getting in and out of BTC and then ending up being mostly (or all) in dollars.. and why would anyone want to be in dollars?

I can see having some dollars for regular spending and expenses and even for emergency expenses.. and just maybe constantly having some dollars, but it can be good to have BTC too, even if BTC prices are fluctuating a lot... but hey, you do what you like.

Quote from: Obari on Today at 04:46:09 PM

Long story short, if we want to achieve what so ever height in bitcoin, then we should atleast get some if not enough money so as to buy the dip when it arises because that's the best way to enjoy bitcoin and hope it rises to a contentment point for us to count and withdraw our profits.

Even though you are talking about buying BTC on the dip, you are still talking about cashing out of BTC.. so it seems to me that I you really do not appreciate the long term investment value of BTC, even though of course you are free to play your BTC stackenings however you like.

Quote from: Odusko on Today at 06:41:52 PM

Quote from: JayJuanGee on June 19, 2023, 12:56:55 AM

Quote from: Rivaldine on June 18, 2023, 05:28:05 PM

The whole crypto space is littered with 'buy the dip' and the primary counsel before that advice seems to be fading away but without that primary advice, you might cease to exist in the space, most especially if you have used up all of your savings in the course of that investment. When you want to consider buying a dip, firstly, pause, DO YOUR OWN RESEARCH before you activate that buy button.

The idea of HODL is entirely up to you and your greed level. If you wish to have trust in the project, then, its entirely up to you.

We are not talking about "the whole crypto space" in this thread.

We are talking about bitcoin, and even though you might not be focused on the actual topic of the thread, you are correct that buying the dip really ONLY makes sense if the project has pumpamentals - meaning that it is going to go up from the time that it is bought... but surely the idea goes further than merely pumpamentals - and you seem to recognize the idea of fundamental values and long term investing, so we might not be so much concerned about short-term price movements and short-term pumpamentals, even though surely guys are going to want to have had boughten on the dip - even if the BTC price might keep dipping they might run out of money or have to resort to holding because they have run out of money (or maybe just buying when their paychecks come in and not really overdoing how much they are buying) so that they might still be able to have some money even if the BTC price keeps dipping so that they might be able to buy some more BTC at lower prices.

Bitcoin has no limit to what extent its price could go at a particular trend whether it be an uptrend or dip the fact is that anyone stashing up Bitcoin should already have a predetermined conviction to hold for the long term base, so with that long-term principle it will become easy for the investors to either buy more when the price vs his last buy price go dipper or he resort into taking a break and continue holding.
Since bitcoin is not like shitcoin whose holder must be careful about holding on to a long-term basis, since there may be a possible dump of price, but with bitcoin all the investor needs to do is to have a proper DCA buying mechanism that will checkmate the buying process not to overdo or overbought as you have stated.

In this post, you seem to be understanding the idea of buying bitcoin for the long term, but for some reason, I am not sure if I believe you - especially since you already stated that you are trying to figure out a BTC price in which you can exit.