Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Ruttoshi
on 15/11/2023, 15:24:39 UTC
⭐ Merited by JayJuanGee (1)
The important thing is that we can control our monthly expenses, even with a level of 30% plus added from other sources added to BTC, this aggressive level will not empty the pockets of our monthly salary.
This depends on the individual and their monthly income and how they can manage their finance. If 30% is cool for you, it might not be cool for others because it is better that you are consistent with your bitcoin accumulation weekly or monthly rather than buying aggressively and stop along the way as beginners because the plan to move slow and steady without making decisions that will end up obstructing our bitcoin goal. I think the 10% is a good start for beginners and some beginners might nor even have up to 10%. Such people can start with 5%, as it is better to get started with the amount that you can avoid than to sit down and wait for no reason.

Another thing that you fail to understand is that one need to have funds in reserve and for emergency so that you don't end up going back to sell from your bitcoin when you are short of fiat. This is why I think that 30% is wat too aggressive. If I were you I might increase it to 15% or 20%, because you can only buy $50 worth of bitcoin weekly like you said. The signature campaign reward will not be consistent and they is no need to put ot as an added percentage because what happens when you don't have a signature campaign pay for one months. Just like what will happen this week, you will be kicked oit from your campaign due to shortage of funds to continue the campaign and all Full Members will be dropped. Do you know how long that you will stay without a signature campaign pay ? Only hope to buy with what you can afford weekly and if there is extra addition let it be a plus to your bitcoin portfolio.

Sometimes our approach towards investments could be our greatest fall because when you have a predetermined negative mindset about a certain investment, you definitely will approach it wrongly and may possibly make mistakes you may have to learn from the hard way.
Talking about approach I believe the phrase "HODL WHAT YOU CAN AFFORD TO LOSE" should be a guide when investing in Bitcoin.As it would go a long way in preventing trauma which may be caused by possible fatal losses especially when investing in shit coins. Bitcoin still remains the OG of the crypto space so it's never a bad option to invest in it.
Actually in something like this I still think differently from what hodl said what you can afford to lose because I don't hold back to lose even though maybe in this case the intention of some people is that when we hold back and invest we must also be prepared to lose because bitcoin is still at risk. But in my opinion, such a notion sounds like investing in bitcoin seems to be gambling because it assumes that when the worst happens then we will lose the investment we have but keep in mind that this is an investment and even if there is a worst case scenario where bitcoin has decreased we also do not lose anything (in the bitcoin investment we do) if we do not sell it even though in terms of value it may shrink but we will never lose as long as we do not let go. Therefore, I do not really agree with the phrase "hodl what you can afford to lose" because I hold not to lose but I invest and still hold bitcoin until now because I believe they will have better progress.
In addition, assumptions like this also contradict the strategy that I do because I am in bitcoin with good intentions and a strategy that until now I think is right so what am I preparing to lose even though the risk of crashing bitcoin is still there but that does not mean we lose the bitcoin we have.
Agreed because no matter how high or how dip bitcoin price is 1btc = 1btc. So there is nothing to lose when you are in a long term investment but you might gave a higher chance of making profit that losing.