Quote from: Odohu on Today at 02:02:01 PM

Quote from: JayJuanGee on Today at 12:02:17 PM

Quote from: bitLeap on August 03, 2023, 04:42:23 PM

[edited out]

I mostly agree with you bitLeap in terms of sometimes newbies might be too weak in terms of their being uncertain about their investment into bitcoin, and therefore, they end up experiencing regrets at various points along the way, and perhaps a lack of a plan for how to financially and emotionally deal with BTC prices that might go in a downity direction that they had not expected and perhaps to stay in such downity direction for much longer than they had expected.

This is as if you are talking to me directly. It was real torture when I first bought Bitcoin after a friend convinced me to buy that I will make quick profit. As a student, it was not easy watching my investment down by almost 20% in few weeks. Well I am happy my friend was patient with me, giving me all the support and encouragement I needed then, so it took me time to begin to understand how the market works.

When we are new to investment (especially something like bitcoin), we should be expecting to continually be buying it in the beginning. I understand that it is a difficult concept to appreciate because many people expect the BTC price to either go up or to stay flat when the first start buying it, but yeah, it could go down 10%, 20% or even 30% to 80%, which really can cause newbies to question if they have entered into a good investment.. and the fact of the matter is that none of us likely know that the BTC price is going to go down 80%, so we might feel somewhat foolish to have bought so high and after the fact, it seems obvious that the BTC price was going to go down, but our retroactive (after-the-fact) perceptions are misleading.

So yeah, it is so much better if we come into bitcoin and we anticipate that we might need to continue stacking for a few years before getting into profits and that it might be uncomfortable.. but the mere fact the price had gone down does not necessarily mean that we should have had waited before getting in. So, yes, it can feel like a pretty damned BIG dilemma for newbies in that kind of a situation in which their BTC holdings are likely in the negative for a decent amount of time.

Quote from: Odohu on Today at 02:02:01 PM

Quote from: JayJuanGee on Today at 12:02:17 PM

Those unexpected down positions end up being great situations for either buying more BTC and/or holding, as is the theme of this thread. So it seems to me that the solution for newbies might well have to do with starting out with a position size that is sufficiently small in order that they are not necessarily going to feel uncomfortable and panic if the BTC price goes down instead of up.... I doubt that the solution is necessarily to plan more .. even though sometimes it can be difficult to say how each person should attempt to deal with his/her own situation - especially since we likely realize that if the person does not invest enough, then they are also going to regret their decision if the BTC price ends up going up and they feel as if they did not buy enough.

I am still in crypto today is because of one statement from my friend that introduced me.

Hopefully you are in bitcoin.. Fuck shitcoins. Hopefully you are not in crypto or shitcoins.

Hopefully, you can also attempt to not use the word "crypto" if you are really talking about bitcoin, rather than shitcoins, and if you are talking about both bitcoin and shitcoins, then hopefully you can be a bit more clear about what you mean.. and how much of that is bitcoin and how much of that is shitcoins, if you are more than 10% into shitcoins out of the total amount that you are in bitcoin/crypto, then I would start to wonder if you are properly allocated within the category.. so hopefully you are mostly in bitcoin, and if you happen to be fucking around with some shitcoins, then hopefully that fucking around is relatively minimal.. not very much of your overall investment because you should not be diluting how much you put into bitcoin, it is hard enough to be building wealth in bitcoin and being able to dedicate investing money into bitcoin, so it seems even more questionable why anyone would actually dilute their investment into bitcoin by very much at all.. and hopefully not even 10%.

I had mentioned in another one of my recent posts that I have less than 0.5% of my total crypto allocation in shitcoins, and I have about 2.5% in cash, so I have about 97% in bitcoin, 2.5% cash and 0.5% shitcoins... and sure maybe I am much lower than usual.. but still you should be questioning how much you really need to be putting into shitcoins? 10% is a lot if you were to even go that high.. and so then you get tempted by so many shitcoin projects .. there are thousands, and so then there goes the amount that you "should be" investing into bitcoin.. diluted into crappy investments. Hopefully you are not doing that... otherwise you are going to need a lot of luck, and probably you are going to have fun staying poor... #justsaying. Cheesy

Quote from: Odohu on Today at 02:02:01 PM

According to him, "you will regret more for opportunities you did not take than opportunities you did and they went bad". This was what changed my mind and gave me the counrage to forge ahead.

I am not sure if that is a great way to look at things, but there is some truth in the fact that it is best to take some kind of action and to get the fuck off of zero...So, if we are talking about bitcoin, then each of us should be getting off of zero as soon as possible and taking actions to get started investing (including figuring out some of our particulars in terms of how much to invest into bitcoin and what are going to be our various methods to accumulate BTC.. whether DCA, buying on dips, lump sum investing or a combination of the tactics.

Quote from: Odohu on Today at 02:02:01 PM

I am seriously working handling the emotions.. I know it's gonna take some time to be completely incharge of my emotions and also have the technicality needed to manage my portfolio perfectly well as once in a while the fear do still come.

And, I do believe that the more time that you are in and you build up your portfolio, the better that you are likely going to become with handling your emotions, but it can surely take 5-10 years or longer to really build a sold investment portfolio, whether we are talking about bitcoin only or a combination of assets (and I am not referring to shitcoins, but instead to property, equities, commodities, and bonds/cash equivalents).

It also helps when your portfolio starts to get of significant size and/or getting into profits, and surely if you are saving something like 10% per year, it could take you 10 years so save one year's worth of salary.. so there could be some needs for your investments to outpace the rate of inflation if you might be trying to get up to multiples of your yearly income or even if you might want to reach entry level fuck you status which would be to get to 20-30x your yearly income, and so it can take a while to get there and also to be able to get into situations in which you either are not going to lose it and that you are going to be able to preserve it and preferably continue to build it... at least up until the point that you start to get into maintenance stages rather than accumulation stages, and then later would come getting more and more into liquidation stages...and sure some of the stages can blend and even overlap.

Quote from: gabbie2010 on Today at 03:48:25 PM

Quote from: bitLeap on August 03, 2023, 04:42:23 PM

[edited out]

Honestly I preferred all my investment in Bitcoin because a minor correction in it price wouldn't make much impact on my investment unlike some other cryptos, I have a full belief in it and am very confident that it is a crypto that is very credible and trustworthy for a long term investment

You might have bad thinking if you are considering bitcoin "a crypto that is credible".. which likely means that you are getting caught up in terms of bad ways to think about bitcoin to be thinking that it is just one of many crypto, but it just happens to be a good one.

Maybe you reach the right and/or proper conclusion, but it still seems like a bad way of expressing the idea of what is bitcoin as compared with the various other crap that is called crypto that is out there.

So, anyhow, it is good to figure out what is bitcoin and invest into bitcoin first, and then once you get better understandings of bitcoin, then you may well get better understandings of how to deal with bitcoin, how much to allocate bitcoin into your investments and how to go about getting to your goals and hopefully maintaining your stash.

Quote from: gabbie2010 on Today at 03:48:25 PM

having read stories of early in investors of Bitcoin with evidenve of massive profit earned by just hodling there coin and sold all or part of there investment during the ATH in 2017.

yes.. bitcoin has number go up technology, so sure you can cash out some or all of your bitcoin during price peaks, but part of the problem is to figure out how to accomplish those kinds of objectives without ending up with less bitcoin or failing/refusing to establish and adequate and meaningful BTC investment strategy/approach.

Quote from: gabbie2010 on Today at 03:48:25 PM

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

I would not recommend for people who half-heartedly invest in bitcoin in the long run, the article will be a risk that might turn around that should get a profit instead get a loss, because of several things, they panic, they are affected by FUD and other things that make them sell bitcoin at a lower price than the price they bought, including also on less mature planning.

Remember here we are not fighting luck, but we are in a situation where we have to hold strong, and that will certainly be very related to our planning at the beginning.
It would be a shame if we had to stop in the middle of the road because our planning was not well-organized.

Honestly as a newbie it is absolutely difficult not to panic after investing huge amount of funds in Bitcoin whenever their a FUD especially when a negative news triggers a massive dump in the price, however after studying the market behavior of the coin many investors wouldn't panic again because price history repeat itself thus whenever there is a massive dump in it price that will create an opportunity for buying using DCA as well as hodling and definitely a period of massive pump in it price is very imminent that is the time to take profit and the cycle continues

I don't know about that gabbie2010. This thread is not really about trying to fuck around with figuring out the upside so that you can sell BTC and buy back more BTC at lower prices, but instead, in this thread, we are attempting to figure out ways to buy regularly with a combination of DCA and/or buying on dips and perhaps HODLing when you either don't have enough money or you are anticipating further dip.. so if the price does end up dipping then would use your extra cash at that time to buy BTC.

If you want to talk about playing the various BTC price waves, then you need to take that to another thread. There are other threads in this forum that talk about trying to trade and or trying to take advantage of BTC price waves.

My own personal ideas is that it is pretty damned dangerous to be screwing around with selling and anticipating the potential to buy BTC back lower, unless you are doing that in the context of already having had overly accumulated BTC and also likely not selling too much of your possible overallocation. The devil is in the details, of course, but we are not talking about those kinds of ideas in this thread.

Quote from: aylabadia05 on Today at 05:32:56 PM

Quote from: Odohu on Today at 02:02:01 PM

This is as if you are talking to me directly. It was real torture when I first bought Bitcoin after a friend convinced me to buy that I will make quick profit. As a student, it was not easy watching my investment down by almost 20% in few weeks. Well I am happy my friend was patient with me, giving me all the support and encouragement I needed then, so it took me time to begin to understand how the market works.

So now you can apply your own strategy when it's a good time to buy. That is an advantage that is not material but immaterial that cannot be touched but can be felt.
If assessed further from your experience, it's not the price of Bitcoin that is expensive but the opportunity to own Bitcoin is expensive.

It doesn't take long for what I want to say. Trying to own Bitcoin as an investment asset is a choice.
If you are sure of Bitcoin, buy it.
Not 20%, maybe you will get 50% profit and can be more than that.

I am not sure what you are saying here, aylabadia05.

If you buy BTC regularly and you have an investment time horizon of 4-10 years or more, then there are a variety of ways to calculate profits, and surely many folks would like their BTC investment to be able to beat other possible areas in which they might place their value... and so you could calculate annual returns or you could calculate your returns over the whole time of the investment.

Of course, there are not any guarantees that bitcoin is going to go up greater than any other possible place that you could put your investment, even though a lot of us who are long time bitcoiners and who have studied bitcoin, invested in bitcoin and continue to hold onto our bitcoin believe that bitcoin is amongst the best of investments for the long term if not the best, so bitcoin is a very great asymmetric bet that may or may not end up working out.. so accordingly, each of us should be attempting to figure out the amount of allocation that we would like to give to bitcoin as compared with other places that we might want to put value.