Quote from: JayJuanGee on Today at 12:57:32 PM

Quote from: Iranus on Today at 03:14:55 AM

Quote from: GigaBit on November 18, 2023, 04:27:50 PM

Quote from: Lidger on November 18, 2023, 02:43:20 PM

I am confident in this aspect that I can hold my investment for a long time because we have multiple sources of income and my father is a government employee so I may not have to sell my investment in case of financial need. Many people may not have the financial freedom I have and the opportunity to hold investments for a long time. There are many people who earn money by working hard and after earning money they invest a part of that money, compared to them it is very easy for me to invest and keep that investment for a long time.

I respect those investors who work hard and invest in Bitcoin hoping for good things and they try to hold on to that investment for a long time even if they suffer a lot. Those who don't sell their investment despite having many shortages are the real investors.
Since I will never need to sell the investment, I will try to hold my investment for as long as possible. If I am successful in the investment, I will discuss my investment with my family.

It's good for you that your father is financially sound so you don't have to sell bitcoins but do you have money of your own? If not then you will have problem in investing. Your father may not always support you. Moreover, even after bringing money invested for a long period of time, if you are exposed to losses, you may have to live under stress. Investing in Bitcoin is definitely a good decision but should invest money with own ability or if you suggest someone educate them thoroughly about Bitcoin. Explain its positive aspects as well as its negative aspects. If your father fully understands Bitcoin and plans to hold it for the long term, it will be acceptable. But according to your perspective do DCA regularly, it will give better results.

He was fortunate to be born into a wealthy family, but relying on his parents is not something to brag about here. I like people who make their own money and are responsible for their lives rather than relying on their parents. Let's make our parents proud of us, don't let them worry more when we grow up.

It seems that even if someone is fortunate in a variety of ways, it seems better to be focusing on what kinds of things that they are doing to learn and/or or to be able to be productive and helpful to others rather than just telling us how they are already getting free money and therefore they are putting it into bitcoin... Sure if any of us were in such a situation, then we do have some luxuries of building a bitcoin stash for free.

Some folks in bitcoin did get rich from bitcoin, so it likely is the case that some folks in bitcoin never did have to work for any of their wealth if they actually came from well-to-do families, but it seems doubtful that any of those kinds of stories are helpful unless they might be talking about various kinds of ways that a person might deal with cashflows. Even well-to-do people do have to either engage in their organizing of their finances unless they have accountants that do those things for them, and then maybe the main kinds of learnings would be how to manage other people, which does not really seem to be a very relatable topic for many of us who have engaged in various kinds of work for our value and maybe even quite a bit of back and forth learning how to manage and balance our BTC holdings.

Quote from: adultcrypto on Today at 08:34:29 AM

Quote from: Out of mind on Today at 02:46:15 AM

It is true that Bitcoin never pays a person quickly and does not provide financial solvency. Rather, if you want to get financial freedom, you have to invest in Bitcoin and keep it for a long time, but you will get profit. I think it is foolish to invest as you wish, if you understand the position of the market during it is definitely possible to accumulate a good wealth for the future. Also, I think it's better if you hold BTC for future and long term investment. That said, we exactly invest with the amount of money we can afford to lose, but basically we invest because we can hope for Bitcoin. And currently we are so confident in bitcoin that we will never lose money by keeping it here, but it will be our main purpose to make profit by holding only BTC.

On the contrary, Bitcoin can actually pay quickly depending on when you join the market and what will be the prevailing market condition after you join. There are people that bought Bitcoin when it dip below $18k. They were I profits within a short time because Bitcoin did not stay long there. Same thing for those that bought below $30k before the surge that took the price above $30k where it has remained till date.

You might be lucky to buy Bitcoin today and the next day, it gain over $5k. This is a confirmation that Bitcoin can pay quickly.

However, our target is not the quick profits but how to buy and hold for long to make bigger gains.

Even if the BTC price dips, many of us are not going to have enough money to be ready, willing and able to invest all of our life time investment into bitcoin at one time. Therefore, frequently the investing into bitcoin remains an ongoing process rather than a one time lump sum investment, even if we might try to invest lump sum, there might be several entry points along the way of building a stash.

Surely, there are some folks who might either be experienced investors and/or that they have already built up a large investment portfolio and they may well be ready, willing and able to move their whole allocation into bitcoin in a lump sum, but those are likely the exceptions rather than the rule, and I doubt that we are wanting to appeal to have discussions with and/or about experienced and rich investors rather than discussing the various ways that normies get into bitcoin.. which is overwhelmingly going to be through relatively small injections of value periodically, whether that is weekly, monthly, quarterly or some other time increments that also depend on cashflow and expense situations of the BTC accumulators.

Quote from: Mayor of ogba on Today at 09:04:44 AM

Even though the price of Bitcoin is on the rise now, I will still stick with my DCA strategy to accumulate the quantity of Bitcoin I planned to accumulate and hodl for a long term. I will not rush with a lump sum buy in Bitcoin just because I'm afraid Bitcoin price will not dump for me to buy at a lower price through the DCA strategy. There is still enough time for me to achieve the quantity of Bitcoin I want to accumulate through DCA even though the price of Bitcoin is at $36k because Bitcoin can only set a new ATH when Bitcoin halving has taken place and Bitcoin halving is estimated to happen in April 2024.

There is nothing wrong with considering making various adjustments to your BTC accumulation strategies, even though surely many of us have acknowledged that it is quite difficult to know which way the BTC price is going to go, so that is part of the justification for ongoingly buying BTC on a regular basis rather than letting too much fiat build up. But if your fiat is building up, then you have to decide if you are going to hold some of that for buying on dips or if you are just going to buy right away with it or add it to your DCA amount and spread such purchases over some given period of time.

Personally, I do prefer to consider all three categories of accumulating if I either receive some additional cashflow or if I realize that I have more cash onhand than I thought that I had needed. For example, if I am going through my monthly expenses, I might have a certain quantity of money in various accounts that are used to pay various expenses, but then after calculating the various expenses for that month or even trajectoring out for further months, I might come to realize that there may end up being some extra money in the account, so then having that extra money would justify considering: 1) lump sum right away (or various lump sums), 2) allocate for buying on dips that can be set at various intervals depending on buy orders that might already exist (money that is already allocated for buying on dips) and/or 3) DCA over a certain period of time with various amounts. For example, if I were to find that I have $1,200 extra then I could allocate $400 to each of the three categories or I could allocate $600 to buying on dips, $200 to buying right away and $600 to DCA. There are a lot of variations and discretion based on what has already been allocated to the categories and a variety of other considerations (including the ones I outline in this post) that might not ONLY be about BTC price expectations even though price expectations is one of the considerations.

Someone who has enough money to invest in Bitcoin can adopt these three methods you mentioned to accumulate the quantity of Bitcoin he wants because he will have nothing to worry about, even though Bitcoin price is on the rise the money to use and buy Bitcoin with a lump sum is there, if Bitcoin dip the money to use and buy the Bitcoin dip is there, and if Bitcoin price is just being stable for some week the money to use and buy Bitcoin with the DCA strategy is also there, I think using these three methods at a time to accumulate Bitcoin is also safe if there is enough money. Thanks for sharing this idea.