Post
Topic
Board Speculation
Merits 2 from 1 user
Re: Buy the DIP, and HODL!
by
Sayeds56
on 14/10/2023, 00:05:48 UTC
⭐ Merited by JayJuanGee (2)

@Jay you have really impacted a lot of knowledge on me which has been helping me on my Bitcoin journey I could remember when I came here with a less knowledge about strategies of accumulation using DCA, with this tread I was able understand and add the knowledge I have gathered from here to my existing ones which has been very helpful.

Referring back to your comments, of course is very unwise to uses the money that's meant for other expenses to invest because he is likely going to get into trouble later on because when the need will arise he will be left with no option but to sell off the investment. Perhaps this could be referred as an ignorant investor whom sees a possibility of getting into trouble if taking a certain decision but still went ahead.

Certainly, it would be unwise decision (as suggested by @Jay) to invest money in Bitcoin (highly volatile and risky) that is mean for essential expenses. It can indeed lead to financial trouble. Therefore, the key takeaway is to prioritize financial stability and have well thought out investment plan that doesn't jeopardize immediate needs.

Understanding the distinction between investing and gambling is vital. Investing is like planting a tree and waiting for it to bear fruit, while gambling is like taking chance for quick wins, relying on luck rather than a long-term strategy.