Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Odohu
on 24/08/2023, 11:45:44 UTC
⭐ Merited by JayJuanGee (1)
Planning is the first stage of anything that is associated with consistency. It is following the plan that is called consistency.   DCA is itself a plan and following your DCA is the consistency.
I get your point, but I don't see consistency as just following your plan, as plans can be followed in different ways. Let me say, for instance, that I have a plan to accumulate 1 Bitcoin before the end of one year, and initially I strategize to buy another 0.08335 before the end of every month. In the first two to three months, I was able to achieve that, but because of some kind of personal issue, you decided to shift out the amount you want to accumulate this month, but with the belief that you will be able to gather more than you plan for the next month so that you can cover up the balance of last month.

In such a case, I don't see that as consistency, as I view consistency as the process of doing a particular thing constantly, nonstop, until the purpose of that thing is achieved without even bridging any of the set-out plans along the way.
Planning have an ultimate goal which is the target. In the example you gave which is accumulating 1 BTC in 12 months, the target is 1BTC and the process of achieving that is the plan. The process is not cast in stones as there can be unforseen circumstances, such as you mention,  that could make you adjust a little. But as long as the target is achieved, to me the plan worked. You cannot say because something happened along the line and you made some adjustments to counterbalance it, then you are not consistent in following the plan. Even in economis, for every law propounded, there is always the clause: "other things being equal".

Persistence and consistency are also two differing concepts.

You are absolutely correct and that is what Nwada001 seems to be mixing up. By definition, persistence means pushing through when obstacle arises while consistency means building and following a process, that is repetitive in nature, in order to achieve a target.
Putting it together with respect to his example, it is persistence that is needed to sustain the plan even in the midst of challenges. If I want to accumulate 1BTC in a year with my monthly Salary, and I decide to set aside say 50% of it monthly to achieve that, if perhaps along the line I got another cash from other source that is up to the 50% and decided to double the amount of buying for that particular month, we cannot say I did not follow my plan again. In this case, the plan just got a boost. The target is always the goal while the time can vary a bit.