Post
Topic
Board Speculation
Merits 2 from 2 users
Re: Buy the DIP, and HODL!
by
Jaycoinz
on 30/03/2024, 17:24:30 UTC
⭐ Merited by JayJuanGee (1) ,Troytech (1)
I actually suspect that I_Anime does not even have that good of finances in place,   ..  but I don't know, yet these would be the kinds of considerations that a newer guy into bitcoin would have to attempt to take into account and try to plan around so that he can control the amount that he sells or does not sell and to consider if there might be some price points in which it does not make sense for him to continue to DCA.. and either just to hold those funds or maybe put them into other assets.. which are all trade offs, in which some guys will just continue to accumulate BTC for more than a whole cycle before getting into any ideas of selling any BTC or even discontinuing their DCA... but part of the problem is reality.. and the reality may well be that the job of any newbie is not really paying very high wages as compared to the appreciation of their BTC (at least the appreciation that may not end up being sustainable)

While most people now make money for a living, there are few people who can earn some extra income beyond a job or fixed income. What you suggest is certainly valid, but most people by now think that cash is the only thing that matters to them. That's basically why they convert from all other currencies or from bitcoins to cash. Because of this they cannot implement any kind of plan, because the cash withdrawals are spent on life or livelihood.
For most this is the job, you work for your living but it may not be enough.And anything other than sufficient income is out of the question.In this case, small income people can move towards DCA strategies but on a small scale.Start with a small portion of your weekly or monthly income, such as $100. And if you start, you can save it without any hindrance in addition to household expenses. If you can keep DCAing for at least a year then you are successful.This is how people's success stories begin. And bitcoin DCAing a deposit is going to be great for you in future.
If you want to be successful, you must be willing to sacrifice and also manage yourself despite the odds against it especially when it comes to Bitcoin investment. They are people who earn very big but they still find it very hard to actually save up or plan through an investment with Bitcoin and this is because of the lack of discipline while they are other's who don't even earn up to that amount but yet still found a way to make good use of it and this is why I told a friend of mine that making it through an investment is not solely based on the amount of money you earn but also on how discipline and responsible you are to follow through with your particular method.