Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Troytech
on 16/01/2024, 07:08:15 UTC
You may well feel screwed if the BTC price goes down after you had already invested all $200 and then you don't have anything left, and then you may well feel screwed if BTC prices go up and you still are sitting on some cash.  In the beginning it is almost a no win situation and you just try to balance it out as best as you can, and maybe after a few years investing you start to feel that you have everything in place.  You have figured out your budget and you have some reserves for buying on dips and you have built and established an emergency fund.. and maybe you have figured out some ways in increase your cash flows and to decrease your expenses... but you still are likely going to always have some tensions in terms of trying to figure out how many BTC you need and how long it is going to take to accumulate as many BTC as you believe that you need.. especially if your goals might be to reach some variation of fuck you status...

and if you think about it, there are a lot of people who work 30-40 years or more and they do not reach fuck you status, so if you are able to actually reach it or maybe even reach it in 15-20 years, then you end up both reaching it and cutting the time in half.. and none of that is guaranteed.. You just need to do your best under your own particular circumstances.
I believe in other to avoid that tension I would set a big goal, then start with smaller targets or milestone, this emotion strategy would be good for me to avoid the tension around the time frame for accumulation and how many I would accumulation within that time frame. Cause I believe it all boils down to the amount I'm putting in or investing in bitcoin. My strategies would even work better with a higher income, which I should try to fix. I now have an idea 💡, I could start up a business in my school and deposit all my profit as a daily dca in bitcoin, then use my monthly income for lump sums, this way I'll have a chill and start saving up some emergency funds, even if I'm not clear on its purpose. Let say I set aside another 200$, and Start up a snack business at my school, with the high traffic I'll could make daily profit of about 20$-50$ on average to very good days cause I'm targeting the hostel areas, then I'll dca about 80% or 70% of my profit daily into bitcoin and at the end of the month if I was invested a total of 20$ daily I would have total of 560$ already in bitcoin, not including my monthly lump sum. The reason I would like to have this business first is because I think I would accumulate faster and reach my goals if I had a steadier source of income that I can plan with. Then reach my own fuck you status wouldn't be a problem. If I'm going with about 5 years and sure my investment amount would be increasing, I might be able to achieve at least 2 bitcoin if not more in this time frame. I'll start by setting my first milestone which should be getting a more steady source of income. Or I could even invest 15$ from my daily profit and save 5$ so at a weekly or 2 weeks interval I'll lump sum a bit, just in cases where the price might have little fluctuations which could be up or down