Quote from: Dictator69 on Today at 05:31:23 PM

Quote from: JayJuanGee on Today at 01:27:14 PM

You are pretty new to this forum Dictator69, and so I am not sure if I can presume that you are also somewhat new to bitcoin, but it can take many years of regular bitcoin stacking (and accumulating) depending on if you are able to draw from other investments (to accelerate your lump sum investments into BTC) or if you merely have to rely upon cashflows that might only allow you to buy small amounts of BTC per week.. such as $100 per week or something like that, and surely I know that in some parts of the world, people might barely be able to buy $10 per week from their cashflows - especially if they have not otherwise built an investment portfolio that they can reallocate into bitcoin.

Anyhow, even though surely there can be some attempts to buy on dips, even for newbies, but I doubt that buying on dips is as important as just regularly buying until you get your BTC (and/or investment) portfolio up to a certainly large enough size that you start to feel that you are sufficiently prepared for BTC to go up, so that you might not have to continue to employ regular buys but you have the luxury of considering buying on dips as a means to either supplement or in some cases to replace the practice of regularly buying BTC.

Yeah, i am really new to this forum, but i am not new to bitcoin. Few months ago, i was interested in making money by doing trading. So, i started to spend some time in watching anything related to cryptocurrency either its BTC or Alts. So, i came to know that, before investing in BTC, i should be prepare for loss too, and i should have great analyzing skills which i definitely lack and i came to see many charts which makes no sense. But then i came to know about trading and holding. And there i knew, holding is for me. And i think in your last paragraph, you also tried to explain that holding or accumulating BTC is better than buying on dips. Like, means the same as trading. Someone buying at dips looking for short term gains while holder do'nt do that.

You are explaining it a bit different than me, but it could be that we are mostly understanding what each other is saying.

I am not sure if it might not be worth emphasizing a bit better what I mean, though.

Of course, this thread is about bitcoin, so it might not be too good of an idea to get too distracted into talking about various shitcoins, including which ones might be worth investing into, if any of them.

So in this thread, we are already presuming that bitcoin has a strong long term investment thesis.. so part of the reason that you want to invest into bitcoin is that you are considering that it has decently good chances of going up in value with the passage of time, and that likely it will perform better than other investments that you have.. or at least you are willing to take those kinds of chances, even though surely there are not any guarantees in terms of whether bitcoin will actually end up outperforming other investments, but if it is at least going up in value, then it still could end up paying off - especially if you have an investment timeline that might be 4-10 years or longer, so it may not be worth it to be attempting to trade in and out of bitcoin, if you consider that 4-10 years or longer down the road it will be worth more than it is today (including accounting for cost of living changes too)..

So if you are coming into bitcoin, you might come to some kind of a determination regarding what kind of a budget that you have and perhaps how long it might take you to accumulate enough bitcoin to reach your target accumulation levels.

When your goals are to accumulate bitcoin, the best ways to do it is DCA, lump sum investing and buying on dips. HODL does not really help you to accumulate more BTC, but it might help you in terms of NOT selling merely because you are worried about bitcoin prices in the short-term.

The most pure forms of DCA'ing would just involve a kind of regular buying of BTC, perhaps on a weekly or a monthly basis and not necessarily trying to figure out whether BTC is in a dip or if it will dip more in the future. Therefore, DCA buying would just be regular buying that is more based upon how much cash that you have in your budget and that you are able to buy on a regular basis.

Of course, some people try to time their buys in order to take advantage of potential dips, and there is nothing wrong with that as long as you are not prejudicing yourself out of bitcoin because you end up waiting too long before buying.. but surely, there are ways that you might be able to both buy BTC regularly and also to keep some money on the sidelines in order that you might be able to buy more BTC if the BTC price happens to dip.

The longer that you are in BTC, then the more likely you would have built a stash of BTC, so the longer that you are into BTC, then maybe the more that you would be wanting the BTC price to go up, even though surely sometimes you can be advantaged to be able to have BTC price dips that would allow you to buy more BTC with the same amount of dollars.

I have mentioned in several posts that if you are merely saving 10% of your income, it could take you 10 years, just to put away 1 year's income, so of course, if you are able to put away more or if you can get better returns on the amount that you had put away, then your investment portfolio would have greater chances to reach higher amounts, and even considering that many people believe that it takes 20-30x of your annual cost requirements to really get to a kind of fuck you status in which you are able to start to live off of the interest from your investment portfolio (presuming that it has reached a fair value that could be assessed somewhere in the 20x to 30x size of your annual living expenses requirements).

Many people never reach fuck you status, even though you still can live quite well, even if you do not reach fuck you status and your bitcoin (or other aspects) of your investment portfolio might reach some kind of size that is maybe between 1x of your annual living expenses and 20x.. which are various levels prior to officially reaching fuck you status.

If you want to see some of my other discussion on the topic of fuck you status, then my investment thread contains quite a bit of discussion on the topic.

Quote from: Dictator69 on Today at 05:31:23 PM

And i get it, from quite some time, i try to accumulate BTC but not able to do that. Many reasons don't know where to start.

The best place to start is at the beginning - which is modestly, and making sure that you have your shit together with other aspects of your finances and psychology. If you figure out your own situation, then you are more likely to be capable of investing in a way that is "as aggressive as you can be" without going overboard because you have your budget and your psychology in such order that you are able to deal with your monthly expenses including having sufficient funds for emergency expenses, too.

Quote from: Dictator69 on Today at 05:31:23 PM

Well, one reason is to accumulate 1 BTC i need 8,495 days. According to stompix.

Of course, if you are ONLY able to earn minimum wage, then it could take a long time to accumulate wealth - even though surely, we know that you might not even need 1 whole BTC in order to still be able to profit stupendously from bitcoin. Having a goal to achieve 1 BTC is no longer very realistic for a lot of people around the world who have not already accumulated a significant amount of BTC.

You have to figure out BTC accumulation targets that are meaningful for you, and surely once you reach those targets, then you may well be inspired to continue to build and to set higher BTC accumulation targets for yourself... So maybe your first target might be to reach 1 million satoshis.. and then maybe 2.1 million satoshis, and then maybe 10 million satoshis.. and then to be careful to make sure that you secure your bitcoin in such ways that you are NOT going to lose them or that you have less chances to lose any of them... even though sometimes there still can be costs that are involved in buying/selling satoshis and also costs involved in moving them around or sometimes you might feel that you need to purchase somethings like hardware or incur other kinds of costs in order to feel comfortable about the security of your bitcoin.

Quote from: Dictator69 on Today at 05:31:23 PM

Other is Crypto is ban in my country, so i think i should save some money in my local currency, so that when the bans will be lifted i could buy some BTC. I know i can still buy it but i don't want any issues. so, neat and clean is best for everyone.

Well? Those kinds of decisions are ones that each of us have to make, and countries do not always make rules that are in the best interest of their citizens, and sometimes they make surprise rules. No one can tell you exactly whether you might interpret the rules differently or you might consider that you have rights in terms of your ability to both secure and to communicate value, and so you might consider that the overreaching aspects of some rules (or that there are some government officials who do not sufficiently understand that they are overreaching in their authority).. and some people might choose to take the safe route to save money in their own local currency (which seems to be the behavior that the government officials are wanting to inspire you to do), but your saving (or attempting to save) in your own local currency ends up fucking you over royally.. since there are some currencies that really suck in terms of their ability to hold much if any value, especially when compared with bitcoin, and so if you save in your local currency for 10 years, you might have 1/100th the amount of value that you would have had in bitcoin... and yeah, there are no guarantees regarding how any of this will work out, and surely it is better to still be alive and to be free rather than being locked up or to be put to death by your government.. so no one can really make those kinds of choices for you in regards to weighing the trade offs and/or figuring out if you might end up getting trapped into various inferior investments because you are afraid (or you misunderstand) your abilities (or rights) to actually invest in bitcoin.

In 2022, in the forum, we even have had members who had been pumping and talking great about their abilities to invest in US Government IBonds because that financial product was available for US citizens and earned some high rate of interest - like 9% or some other alluring amount, but buying that product in late 2022 when BTC prices were around $16k would not have had been a very smart purchase, especially compared to bitcoin, including that bitcoin has already nearly doubled it's price in less than a year, and those IBonds have several tricks to them in terms of when the interest even starts to be earned and how long that value has to be locked up in them without suffering penalties for withdrawal or early withdrawal.. so they are not even as good as bitcoin, even though people were tricked into such products .. and they were not told that bitcoin was banned, but even the US Government officials are not honest in their communications and frequently try to imply that bitcoin is bad or evil, and if you go along with the proclamations (and advices) of your government officials, then you are likely going to end up screwing yourself up in terms of your own finances in such a way that you might never be able to recover from how much you end up either losing or failing to be able to earn because of the price movements of BTC and other products can sometimes move quickly and in such a way that you will never end up getting those lower prices again.. never ever again. We have seen it many times.

Something similar happened in China in late 2016. A lot of Chinese exchanges locked up the value of their citizens in the various Chinese exchanges until they KYC'd or whatever other bullshit that they were supposed to do, and a lot of those citizens got screwed out of the whole 2017 bull run.. and perhaps even Chinese officials thought that they were going to be able to discourage the BTC price from going up, but bitcoin did not give any shits about what the chinese thought about bitcoin in 2016, 2017 or any time thereafter, and really the BTC never came even close to correcting back down to those sub $1k or even prices around $1k or $2k at later points of time in 2018 or thereafter the lowest corrections were down to the lower $3ks and that level of BTC price correction did not even last for very long.

Quote from: Dictator69 on Today at 05:31:23 PM

Do you often right that long replies or its just me who needs that much explanation. Feeling like a blank slate. Roll Eyes

You are not the ONLY one who suffers from receiving my relatively long responses. You can glance through random samples of my post history and see that I have tendencies that go back all the way to the beginning of my forum membership for long responses.