Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Winterfrost
on 30/03/2024, 14:35:55 UTC
⭐ Merited by JayJuanGee (1)
Self management is what matters a lot in our bitcoin journey. It is not a most that you need to have various means of income before you can be consistent and persistent with your DCA approach weekly or monthly. Those civil servant that you mentioned that are not being paid regularly, it is not a problem to hinder them from using DCA strategy to accumulate bitcoin, because it is the best option that a new beginner can use to accumulate bitcoin to a certain height. Since you said three to four months is when they get paid. I know that it cannot be always maybe it use to be once in a while that the government pays them like that while the other months are being paid regularly. Such investor only needs to frontload his DCA to cover for those monthly that he will  not be paid. If he is paid regularly, he continues to buy whenever he gets paid.
Having a secure source of income is of particular importance for sustaining the DCAing process.Having a secure source of income is of particular importance for sustaining the DCAing process. Once you start a project, if you don't keep it going, it will die. Irregular flow of salary is a big problem in employment whether it is government or private.If you don't get paid on time, your DCAing routine can become uncoordinated. In this case you can start again after some time (Pause) interval where no one is exerting some force on you. When you have enough you fill in the blanks.This is your freedom and getting your profit into long term DCAing.
you both are obviously on the same school of thought and like @sim_card had rightly put it, you don't necessarily need several streams of income before you can effectively stack up your Bitcoin using the DCA methord. Regardless of how regular or irregular your income comes in, iether it's through your regular salary or the profit from your business, with adequate plan on ground, you will be able to carry out your DCA stacking at ease.

If you're facing deficulty following up on your DCA routine with a single stream of income, chances are that even if you have multiple streams of income you might still face similar cross road. Discipline starts from little and grows when you're bestowed with much finance. Certainly, if you have double streams of income it will be to your advantage as you can easily increase on your set out amount for each stacking and if you so desire, you can decide that the profit from one source of your income will all go into accumulating Bitcoin and if it works well for you, it could be one of the fastest way to reach your accumulation goal but having several sources of income doesn't in itself translet to being able to accumulate more or effectively carry out a DCA routine. And again, having a weekly or monthly DCA plan doesn't necessarily mean you must always buy on a set day. If your source of income comes as smooth as possible and can allow that, then that's going to be a perfect way to discipline yourself if you so decide to buy at said day or date of the week but if your income doesn't follow a regular pattern, it's not necessary to inconvenience yourself or even think on borrowing just so you can meet up with the set out date, if you do so, it will technically mean that you've become enslaved to your investment. so, there might be times when you might not be able to buy as at when planed expecially for newbies that aren't financially strong or guys that are working in firms that owe workers thier salary but later pay after a while. The main thing is to be discipline enough to always buy once you've been paid and always treat the money you've set out for your investment purpose as if it's no longer your own so you don't get tempted to skip a particular month or week because your salary comes in late.