Quote from: JayJuanGee on Today at 04:32:25 AM

Quote from: liuka on December 11, 2023, 08:49:30 PM

Quote from: JayJuanGee on December 11, 2023, 07:30:58 PM

When I first got into bitcoin in late 2013, I was not really sure about a 1-2 year investment into bitcoin minimum.. but with the passage of time, it seems that the investment case for bitcoin in the long term is even greater, so I doubt that 3-4 years is a long term investment, and if you are planning on cashing out for "sweet gains," then you are surely only thinking in terms of short-term dollar gains rather than planning for a possible lifetime in which you might always own bitcoin absent some kind of notice that you might not be living very long and then decide to cash out more of your bitcoin within that kind of a context.

Sure one of the problems with older people who might be 65 years or beyond, they might start to feel that they are not really able to sacrifice a lot of liquidity, so they might be worried about their abilities to invest in the long term, and surely a person who is younger with health conditions might have similar difficulties in terms of his/her investment time horizon. No one can tell you what is your investment time horizon, or what you believe might be a better investment than bitcoin to put your "sweet gains" rather than merely letting your bitcoin investment ride and letting the gains roll over into the potential of more gains when your BTC investment compounds and compounds and compounds.. and yeah, there are no guarantees, and probably the lack of guarantees causes you to feel that there might be some advantage to realize your supposed "sweet gains" rather than merely allowing them to roll over until you reach a higher stage of actually knowing what might be the reason that many longer term bitcoin holders have way more wealth related options as compared to those who are not able to hold through even a whole cycle.

I am amazed at those of you who are able to hold Bitcoin for a long period of time. Have you encountered any major obstacles such as worrying that the price will go to zero in the time you have spent on your bitcoin investment?

Sure, bitcoin has been a rollercoaster ride over the last 10 years, yet being able to stay in bitcoin or any other investment for the long-term, there is a need to make sure to adjust position size, and if you are a brand new investor (and your only investment is bitcoin - besides cash that you might have), then you might have to take different measures as compared with someone who might come into bitcoin after already having several other investments, so then bitcoin just gets added into the mix of an already existing investment portfolio.

Quote from: liuka on December 11, 2023, 08:49:30 PM

So far you have made quite a big profit in the Bitcoin you bought in 2013 and my question is whether you will use Bitcoin as an asset for your retirement in the future. I want to invest as well as possible in bitcoin by waiting for cheaper prices to accumulate bitcoin.

Many times, I have already said various things that I had done and what I am doing, so I am not really sure how much that would matter to how you might decide what you might do, since you still have to figure out your own bitcoin investment amount and your various BTC accumulation strategies in accordance with your own situation.

If you are thinking that you want to get to a certain level of investment into bitcoin because you want to be able to live off of bitcoin, then it can take a long time to get to that point, and you cannot necessarily rush matters, except maybe if you had concluded that bitcoin is a good investment, then maybe you decide that you want to be aggressive in terms of your own bitcoin investment approach, and there is nothing wrong with being aggressive, as long as you do not overdo it... so you want to stay in the game and continue to build.. even if sometimes it might seem that the building process is slow...

Many people take 30-40 years or more to build their investment for their ability to retire and/or to get to fuck you status, and surely a lot of people do not even make it to a point in which they are able to retire early... so if you are able to cut down the time that you get to fuck you status from 30-40 years and down to 15-20 years, then you have likely done quite well with such an accomplishment, or even if you still end up taking 30-40 years to get to fuck you status, you may also rest assured to having had been able to get to such status, because it is quite an uphill climb to even be able to get to such a status.. and I doubt that any of us can rush getting to such a status, even if we might have some of the possible and potential advantages of both knowing about bitcoin and planning to actually act upon such knowledge.. rather than merely talking about it or wishing it.. .. because making progress takes action and persistence.. and sometimes it may well be difficult to measure the extent to which progress is happening or not.

Quote from: liuka on December 11, 2023, 08:49:30 PM

Of course, the target time for investing in Bitcoin can be a lifetime or some of them can use Bitcoin as an asset for their children when they have children. I think someone who understands the times will invest their money in bitcoin rather than saving it in the bank.

You can have a combination of investments, and surely kids cost quite a bit of money but they could also be considered as a kind of investment, and the extent to which you have money in the bank or you have other kinds of investments will have to do with your situation, and surely I doubt that it would be a good approach to completely avoid and/or ignore banks, even if you might develop an investment approach that prioritizes your allocation to bitcoin.. but you still might be in a different position in your first few years investing into bitcoin as compared to where you might be after a whole one or two cycles investing into bitcoin (considering each cycle as 4-ish years).

Quote from: JoyMarsha on December 11, 2023, 09:58:05 PM

Quote from: Roseline492 on December 11, 2023, 11:30:23 AM

So it doesn't matter how well you can handle it but what matters is how most people who doesn't really understand Bitcoin will handle it if they continues to monitor the price movement of Bitcoin.

That's the reason I said is not mostly advisable to constantly be watching and monitor every price movement of Bitcoin on less you are a Lump sum investor.

We can also say that only a newbie would notice a decline in the price of bitcoin and become anxious about losing their investment. However, for someone who believes in bitcoin, an increase or decrease in price won't stop them from viewing their wallet at any time they feel like because they understand that any price they see will benefit them in some way.

A price decrease will allow them to accumulate more bitcoin. An increase will allow them to decide whether to sell their bitcoin holdings for a profit or not.

That sounds pretty short term to be thinking that an increase in price causes long term investors to consider to sell versus merely being happy that their investment is going up in value (so they get reassurance from the BTC price going up), but if they have an investment timeline of 4-10 years or more, then why would they get inclined to sell merely because the BTC price is going up? Are you presuming that they have already overly accumulated BTC , and if so how much do they have that they are starting to consider selling BTC rather than just continuing to accumulate and feel good about increased prices because their past investments are appreciating in value?

Quote from: Fausto Arta on December 11, 2023, 10:51:41 PM

Since the price of bitcoin has down from $44,000 to $41,000, so I think a buy on dip strategy is worth considering now. I don't think such a correction will last long, especially since the halving and ETF have been the reason for the big rally. Personally, DCA isn't really needed right now, lump sum seems to be the best option.

Some people do not have any choice regarding lump sum. If they have $2,400 coming in per month, and they have between $50 and $100 per week that they are able to spend on Bitcoin, then maybe they are choosing to buy BTC every week, but surely if they save some extra on the side for buying on dips, maybe they don't have a lot that is set aside, so they still might not have much choice but to invest whatever extra cash flow that they are able to generate by increasing their income and/or by reducing their expenses, and maybe once in a while they might be able to get some extra cash coming in that they would have the ability to decide the extent to which lump sum and buying on dips might be preferable to just continuing with their ongoing practice of DCA.

Quote from: JayJuanGee on Today at 04:32:25 AM

Quote from: Fausto Arta on December 11, 2023, 10:51:41 PM

Since the price of bitcoin has down from $44,000 to $41,000, so I think a buy on dip strategy is worth considering now. I don't think such a correction will last long, especially since the halving and ETF have been the reason for the big rally. Personally, DCA isn't really needed right now, lump sum seems to be the best option.

Some people do not have any choice regarding lump sum. If they have $2,400 coming in per month, and they have between $50 and $100 per week that they are able to spend on Bitcoin, then maybe they are choosing to buy BTC every week, but surely if they save some extra on the side for buying on dips, maybe they don't have a lot that is set aside, so they still might not have much choice but to invest whatever extra cash flow that they are able to generate by increasing their income and/or by reducing their expenses, and maybe once in a while they might be able to get some extra cash coming in that they would have the ability to decide the extent to which lump sum and buying on dips might be preferable to just continuing with their ongoing practice of DCA.

You are right JJG, the regular DCA is the only option for people that don't have extra cash to lump sum or that didn't prepare for the price of bitcoin to go down to this price. Another thing is that if you have the funds to lump sum now and you will not DCA according to Fausto Arta, it is better to share the money into three parts, use one part to lump sum, use the second part to buy at the dip and use the last part for your regular DCA, so that your bitcoin portfolio will keep on growing rather than you lump sum with all the funds. This is because if you lump sum alone, what if bitcoin price dips below the price that you lump sum on, that might cause regrets of your action and since you are on a long term bitcoin accumulation journey is is good to buy with DCA for consistency increase in portfolio.