Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Roseline492
on 18/11/2023, 20:26:28 UTC
 Before starting Bitcoin investment you must have prepared yourself for period of time financially because you know what it will take a and how long for that investment to mature either long term for 6-10 years or short term for monthly /weekly, and so your source of income should be enormous on other to meet up your other demands and need .
Having  a fixed amount set aside from your monthly income is not a bad idea ,so that it will not affect your DCA strategy used in investing.

  Let's take for instance  in building a house ,you just don't stand up  one day and say you want to build without planning for it and knowing how much to set aside for the project, is either you have been saving for it or have already gotten the resources for the building and how long it will take for the completion that will make your target and budget easier for you to pursue and it will be easily achieved and you will build it according to your capacity . The same way goes in investing Bitcoin you do invest above what you can afford .
 But remember investing what you can afford is the best either 5-10% or 30% and more.
Indeed, this is a real example if we look at the life of building an average house, which we rarely see unless it is someone who has enough funds and is an established entrepreneur.

Well, inspired by that too. Maybe when it comes to investing in BTC, people are rarely able to buy at once, for example 1 BTC. Well, with the DCA method this is another way to get there. although little by little and the times are also supportive for now it is still cheap because BTC is still on its way to a new ATH. Possible.
Yeah is obvious that as a less privilege it will be almost impossible buying one whole Bitcoin at a time but however there is a very chance that if you give yourself a target you can achieve it, that's why investment on Bitcoin is not like stock investment that would require you to invest a huge sum of money, but on the contrary even if you don't have much money to invest on Bitcoin but you have a target or goal to have a certain amount of Bitcoin in the future could easily achieve it by adjusting yourself in any amount that suit your financial state and keep accumulating with a targeted number of years you will see yourself as a holder of Bitcoin.

I agree with everything that you said Roseline492 - except that you seem to be suggesting that people can achieve almost anything that they aspire to, yet at the same time you acknowledge that it may well be out of reach for some people to have 1 BTC as their goal... . .not only is it unrealistic for some people, it might not be achievable absent being able to reach a bunch of intermediary goals first.  So if someone is just getting started in bitcoin and the most that they can muster up is the buying of $10 of bitcoin per week or per month, based on what we know right now and we can reasonably project about aspects of the future, they are going to likely need to accomplish a lot of intermediary goals in order to get to 1 BTC in 10 years or even in 20 years, and if they can project that they will be able to get to $100 per week in 5 years and $1,000 per week in 10 years, then maybe they will be able to reach 1 BTC in 20 years... maybe?  There are a lot of unknowns in there and probably not even very good kinds of goals in the first place.
Thank you @JJG for your observation and suggestions, I acknowledge your efforts on guiding us here and other investment ideas you have been sharing, actually I never realized I was sounding a bit contradicting on my Statment above, however the point I was trying to make was that, as someone who is poor it will be very difficult acquiring 1 Bitcoin at a time because the amount could be too high for the person to afford at once but however it could be achieve able if the person set a target of accumulating a bit by bit and within a period of years the possibility of achieving it will be higher.