Quote from: wendty on January 28, 2024, 11:45:45 AM

Indeed, for people who are optimistic about bitcoin, choosing a buy the dip and HOLD strategy is a good strategy to add to their portfolio. However, as an investment strategy, of course, buying the dip must be accompanied by controlling risk. One of them is by determining the target selling price when we buy when the price drops.

The topic of this thread is built upon a presumption of long term investing, and we are not trading here or even selling for short term profits and/or expectations to buy back lower.

if your investment plan is 4-10 years or longer, you are likely going to have better chances of experience compounding of your invested amount and also you will likely increase your options regarding what you might want to do with your bitcoin investment later down the road, especially if you both hold and invest more than one whole cycle... notice the thread topic also says nothing about selling, and that is on purpose (rather than an accident).

Quote from: Taskford on January 28, 2024, 01:02:43 PM

Quote from: adultcrypto on January 28, 2024, 11:52:00 AM

Quote from: alankasman on January 28, 2024, 10:21:52 AM

Quote from: Moreno233 on January 28, 2024, 09:33:39 AM

Surely some people will lose their Bitcoin upon death, especially those who have not worked out a way of transferring their Bitcoin to heirs and people they care about. It is therefore important to work towards retirement and handing over when we get to certain stage in life.

Preparing from now on to whom the valuable assets we call Satoshi's inheritance will be transferred. This is done by telling the person the seed phrase, password, including active email associated with access to the wallet.
If the assets you currently own are not just Bitcoin which is partly located on an exchange, provide your email and password so they can access it someday.

Why prepare from now on, because at our age we don't know when we will reach our final rest.
For those who are married and have children, entrust it to your wife and explain what and for whom the assets will be used in the contents of the letter so that you are calm and don't regret it.

It is not advisable to save ones asset in centralized exchanges because of the risk of hack like the case of Mt.Gox and many others or the owners of the exchange stealing your funds like the case of FTX. The recommend practice is to save your asset in a wallet you control the seed phrase. Many people who made the mistake of leaving their coins in exchange have various stories to tell so it is not wise to continue making the same mistake that people made in the past.

There are many safe ways to go about this including using hardware wallet or software wallets such as Electrum wallet. This link can help you with how to set up Wallet with single or mutltisignature: https://bitcointalk.org/index.php?topic=5469290.msg62949141#msg62949141

Finally don't forget the popular statement not your keys, not your coins. This is a reminder that anywhere you safe your asset in that you do not have the seed phrase is not safe.

Exchange will never be a good option for people if they want to hold or slowly acquiring some assets because we all know for how many times a exchange compromise their costumers. And we should stop seeing their reputation as valid reason to trust them since even if they are providing good service they have huge scam to turn into scam just like what Mt.gox and FTX did also there are other more issue like this happen.

So for us to have smooth accumulation of bitcoin for long time hold or to trade it whatever timeline we like we should store our bitcoins on those wallets which the private key is in our control since this safe option to have.

Always to keep in mind that word not your keys not your coins word you said should always consider or think about by people so that they will not fall on exchange scam and can make sure that they can get something for the efforts they do especially for doing those long term hold or for their acquiring.

You guys seem to be getting all hot and bothered about keeping coins on exchanges, but also you should not be ignoring that if guys are making a lot of small purchases of BTC, they might need to consider allowing their BTC stash to build up to a certain amount prior to withdrawing them, and personally I recommend to not purposefully create UTXOs that are less than $500 to $1k, even if you might be able to currently transfer for reasonable fees, we also need to give ourselves more options in the future, so part of that is holding our own keys but another part is to make sure that we do not have UTXOs that might be too uneconomical to spend under certain high fee market conditions that might happen in the future that might even be worse than the fee situation in the last nearly 3 months.