Quote from: snowpega on September 19, 2023, 06:18:37 PM

Quote from: Odohu on September 18, 2023, 10:24:30 PM

I remembered someone commented on this thread that he is using DCA to buy and at this same time, he setup some funds for buying at what he considers as dip... I guess that is what @snowpega is doing. Like you said, anyone following this approach should be prepared not to beat himself up if Bitcoin price did not follow through as they expected.

just to mention you again by the this thing already has been discuss i think you did not read my previous So, As per yesterday discussion what i have learned that not hoping too much from market which i get to learn from @JayJuanGee i used to think i just wait for some time to see kinda dips in market which now i think was not good for me. In this way a term, which is highly used FOMO (Fear of missing out) we prey of it. after that what left? we have to repent of the price we just miss out TBH the same thing happened with me yesterday when the Price of Btc was about 26k500$ i was aspecting it to go about 25k800$ but what happen? Totally opposite BtC price goes up at touch to 27k200$ this is what i learn never makes too much hopes from market.

Holy fucking shit.

Don't be getting too worked up @snowpega when it comes to BTC price moves that can go in either direction in shorter time frames.. and even lasting for several months going in directions that are not expected and staying there for longer than expected and staying there for longer than expected. Any of our preparations should be both attempting to prepare for BTC price volatility, but expecting that it is going to take place and we do not have many ideas about the short-term price direction.

Quote from: snowpega on September 19, 2023, 06:18:37 PM

Quote from: Odohu on September 18, 2023, 10:24:30 PM

By Newton's Law of physics, a body will continue in it's state of rest or uniform motion unless it is acted upon by external force. This law of inertia also apply to humans in a way. Some people will continue to expect dips and further dips until there is an obvious sustained bullish regime. This is how some people are wired. I do not consider this a defect rather, I see it as a demonstration of our uniqueness. So, even though it may not seem realistic to you there are those who are convinced that price will dip further irrespective of it being oversold or not. What I have described is not peculiar to newbies, there are conservative old hands who still display this tendencies.

I don't know Bro what are you trying to say here you are giving the Newton's Law of physics and relating it to the virtual assets i'm not trying to point out anything like your example fit here accurate here or not like bro its digital world physics example fits more accurate in physical world i think... or Maybe i am not getting what you are trying to say.

Surely price momentum is a thing in bitcoin, too... and whether or not the momentum has changed is not necessarily easy to determine in advance, even when some people think that they either got it figured out or they think that they know the direction that favor the odds. They frequently get it wrong... which is part of the reason to prepare (both financially and psychologically) for either direction, even if you believe that you have high odds in favor of one direction over another.

Quote from: snowpega on September 19, 2023, 06:18:37 PM

Quote from: DVlog on September 18, 2023, 08:05:04 PM

The guarantee of a monthly cash inflow gives us ease of mind. We can think clearly because we don't need to think about our monthly expenses. Saving a portion of our wages and investing them for long-term growth gives us confidence about our future, and we think of ourselves as cleavers and long-term visionaries. When things turn against them, they think of themselves as stupid; this is human nature.

Not to use your investment (in bitcoin) when emergencies arise is a strong statement but not a practical one. When people don't have money to cover emergency expenses, they tend to sell their assets. If you are investing in bitcoin as a retirement plan, then you should not sell it, but in times of emergency, your senses will tell you to sell it.

I would say if you are thinking for long-term and Also doing BTC accumulation its good idea. in case if it is me who is doing BTC accumulation i would never withdraw my BTC until i reach my planned goal. I think this time is very smart we also need to smart as we know this is the time where alot of people having good cash inflow by doing from different kinda online jobs and physical jobs as well.

they just need to prepare themselves to overcome their emergency situation somehow So that they need not to withdraw their accumulated BTC in the form of funds as emergency situation.

Generally speaking, you seem to get the point which is you do not want part or all of your BTC to be serving as part or all of your emergency funds unless you are both in sufficiently high profits with the BTC and/or you have exhausted all other funds.. so usually you are going to want to have an overwhelming majority of your emergency funds in an asset/currency that is mostly (or closely) denominated in the currency that your expenses are denominated.. or that is appreciating (or holding value) at a better rate than the currency that your expenses are denominated.

Quote from: DVlog on September 19, 2023, 06:55:05 PM

Quote from: snowpega on September 19, 2023, 06:18:37 PM

[edited out]

The only thing that can resolve our emergency needs is money. As I have mentioned, it is easy to say that I won't touch my BTC holdings if any emergencies arise, but it is hard to do if you don't have any side income or any other source to assist you in resolving that issue. This happens to me many time. I tried my best not to sell part of my holding, but the situation forced me to do that.

Your frequently going through a need to cash out of some assets that you do not want to is likely a sign that you are overinvested in those assets and/or your emergency fund is not large enough.. and sure, you likely already know that... but you might be spending a bit too much time trying to make sure that your value is "working" and then you end up overdoing it and not having enough of the "nonworking" asset/currency that you need to pay your expenses.

Quote from: Salahmu on September 19, 2023, 10:54:43 PM

Quote from: DVlog on September 19, 2023, 06:55:05 PM

The only thing that can resolve our emergency needs is money. As I have mentioned, it is easy to say that I won't touch my BTC holdings if any emergencies arise, but it is hard to do if you don't have any side income or any other source to assist you in resolving that issue. This happens to me many time. I tried my best not to sell part of my holding, but the situation forced me to do that.

Truly is only money that can solve our emergency but in most cases over aggressive accumulating can lead to lack of funds were as an emergency that needs money could come out and at that time your left with no money to solve the problem because you have spend all your funds on accumulating, as such you maybe left with no option but to sell off some of your Bitcoin and at that point it could be that the price is a bit lower than your entry point so you end up losing which is a wrong strategy for investment, so this is one of the reason why DCA strategy was introduced because of scenario like this, if you had use DCA strategy you would have not gotten to this stage it would have helped you on risks management as such allowing you to be accumulating a bit by bit with a small amount of dollars while you save the remaining ones for emergency like this and by that time your investment is safe.

You can still end up overinvesting and getting your self into the same kind of lack of an emergency fund, even with DCA.

DCA does not completely reduce the problem of overinvesting, but surely it can manage the overinvestment temptations that cause people (maybe moreso newbies, but it can happen to anyone who is overly investing and not sufficiently preparing emergency funds and projecting out cashflows for a sufficient amount of time in advance)..

I personally think that the thing that allows BTC accumulators to be aggressive in their bitcoin accumulation while not going overboard is to study each of their 9 factors as I mentioned in my earlier post, and some of those factors are more important to learn than others, and the better that s/he knows those 9 factors and to make adequate preparations, then the more aggressive that s/he is likely going to be able to be... and surely the devil is in the details and it can take a long time to make sure that you are adequately preparing for both regular expenses and emergency expenses and sufficiently trajectoring that out for an adequate period of time to really be able to assess how aggressive you can be without going beyond what you should be doing (which is also known as gambling.. there is a bit of a sliding scale.. and also a bit of a unclearness in terms of when you have crossed over the line which means that you might not know that you crossed over the line until it is too late).

Quote from: SmartGold01 on September 19, 2023, 11:50:36 PM

I think what I noticed and experienced from some investors or some people is that since they had missed the previous opportunities for not investing when the price were very minute they thought they could cover it at a go but, this is where they are getting it wrongly because rushing to invest what they didn't know the whole concepts might likely lead them in a bigger lost and in a higher risk without applying technicalities.

Trying to make up for losses and then adding more risk in order to make up for losses is not a good mental or financial framework. because strategies should be made in ways that do not devolve into gambling.. even if you might have made a big loss.. I think that another name for continuing to double down is Martingale betting.. so surely sometimes it does work, but sometimes it gets to become so big that there is no way to recover from it... or maybe the losses become so great that it takes years to recover, even though there was no real reason to be taking the risks in the first place, but then when the mistakes are made they just keep doubling and doubling and doubling.. and sometimes it ends up working and other times, it ends up with a forced stop..and having to start from a reckt position.. which might mean never recovering or perhaps taking several years to recover... depending on how soon that the person might have decided to give up rather than keeping on going.