Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
naira
on 22/01/2024, 14:50:12 UTC
Well 4-5 months of investing is not very long, and maybe you might need to just figure out what the right balance is so that you keep buying, especially during dips, and maybe after 3-4 years of investing you might be able to trace back the power of your having had continued to invest through the earlier years, and maybe in 3-4 years we might be going through another bear market, so maybe you might need to consider a cycle and a half of ongoing investing. and then see where you are at in 6 years or so.

Yeah it can be tough in the beginning, but probably you have to find a comfortable size, whether that is $100 per week, $10 per week or some other amount that is comfortable for you, your wife and your situation.

Regarding withdrawing every week, given the various recent fee spikes and the signal that we might have future fee problems, I personally don't consider that to be necessary or prudent to withdraw to a private wallet every week, unless your withdrawal amounts are at least $500 to $1k, and so personally I think that it is better to allow your UTXOs to at least reach a certain level prior to withdrawal.. and that is not merely about current fees, but it is also about future possible fee issues that could come about..
Regarding withdrawals every week, I had pressured him to be aware of fuel prices which had recently risen, so I held them for a while like in December, the balance was still on the exchange for 4 weeks until I finally withdrew the bitcoins and didn't want to keep them for long. A week usually allocates $100 more and that is definitely a liability that we need to transfer to Bitcoin. because this also makes my wife disciplined in investing by considering that all basic needs are met properly. Regardless of whether the target is 3-4 years or even more because our goal is to invest for our little child, this is a kind of inheritance because we have nothing but Bitcoin that we can give  him in the future. Hopefully it goes according to plan and there are no obstacles along the way. However for now the most important thing is to ensure a balanced income between investments and basic daily needs.

We just try our best and make the best plans possible, for the future no one knows, the important thing is that as long as we can still buy and hold, that is more than enough.