Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
teamsherry
on 20/02/2024, 15:37:38 UTC

In my understanding, it doesn't necessarily mean that someone must have a good knowledge of bitcoin before he or she can start accumulating it. What matters in the bitcoin accumulation journey is for someone to understand that bitcoin is a long-term investment, like 4-5 years before he or she should start accumulating bitcoin, so that he or she will know the kind of investment he or she is starting up and will not expect any profit in the short term. Also, use the money he or she can afford to lose to invest in bitcoin, and understand that bitcoin is volatile, so any drop in its price will not make him or her sell it, even when he or she is at a loss.

I think we don't only need to know how to accumulate bitcoin as early investors, there are other necessary knowledge we need as bitcoin investor like how go properly secure our holdings, the best kind of wallet to use and if possible to use hardware wallets like trezor. In some countries that have tax on bitcoin, it think one needs to also know how tax works and how to accumulate it, and this are all basic knowledge a bitcoin investor should have for his own success as a holder.

I've seen many people lose their holdings to phishing links and to scammers cause they are ill educated on how to hold safely, so as we learn how to accumulate bitcoin, let's let's learn safety too.