There is no point that might be convincing to talk about diversification for anything else because here we only believe in BTC and nothing else, so our unanimous decision is only for BITCOIN.
I doubt that is true, and sure the topic of this thread is bitcoin.. but also people do use the term diversification in ways in which they try to fit their shitcoin gambling practices into that, and also they try to presume DCA works equally well for all assets, but it does not.
In order for DCA to work over the long term, the asset has to generally be going up in the long run, even if it is greatly volatile and even if it has extended periods of a DOWNity trajectory or just getting stuck in DOWN-ward price points.
A similar problem is true with whether buying on the dip will actually work or not, and buying on the dip and keeping on buying on the dip works so long as the asset stops dipping at some point prior to your getting liquidated or prior to your ability to NO LONGER be able to HODL.
We cannot necessarily have a strong of a conviction regarding shitcoins whether they will continue to go up or whether we might be able to get out of them during a period in which our holdings are in profits. There also is no guarantee for bitcoin, but if any of us attempt to figure out what bitcoin is as compared to shitcoins, then we likely come to an understanding that bitcoin has much stronger fundamentals that contribute towards its ultimately having an upward price trajectory, which means that it has decently large chances to recover from any of its dips, even the severe ones and even if they last a long time, and even at the same time, there are not any guarantees, even though bitcoin does have a lot of strengths in terms of the design and functioning of its fundamentals and the incentives around it being difficult to sustain attacks..
Every human being needs sustainable wealth.
Good starting point, but there is also cashflow that could come from earning wages, or earning dividends, or having some kind of asset that you are able to shave off portions from time to time and such asset is sufficiently liquid. If you have enough of the assets, and they are appreciating in value, then you can figure rates of shaving them off or which ones to shave off..
If a person has fixed assets then he will be financially independent as long as he lives.
There is a dynamic that sometimes exists with people who run out of liquid assets, and they might be considered property rich and cash poor. It is not necessarily a good place to be, even though they might have options that include leveraging their property.. but still such a practice could end up disastrous if they do not have a sufficient cashflow.