Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Justbillywitt
on 12/05/2024, 07:15:35 UTC
So in conclusion, investing in Bitcoin has many paths and many (complex) ways, depending on the situation of the person who wants to invest. And in my opinion, it doesn't matter how, or what path you take when you start investing in bitcoin, but the most important thing is to learn about bitcoin first.
My advice to newbies today is, buy at the DIP to get more units in Bitcoin as soon as possible, and study later. Let the greed guide you now and learn about it later. But I'm very confident that after a newbie starts to learn more and more, and goes deeper and deeper into his path, he/she will stay for the revolution. Many of us came here because of greed and stayed for other reasons, DEEPER reasons. Good luck on your journey my fellow plebs.

I hate to beat a dead horse even more dead, but you are asking for it.. Wind_FURY.. hahahahahaha

In other words, if you are a newbie to bitcoin.. no  need to wait for any dip..

For a newbie no coiner or low coiner,** get the fuck started as soon as possible so that you can at least have some bitcoin, and think about price later.. maybe 1-2 years after you have been stacking sats for a while.. and studying about bitcoin and other personal financial management matters along the way... .. but other than that.. it seems that I agree with what you are saying.

**By the way, when I mention low coiner, I am not suggesting that you have to rush to reach your bitcoin accumulation target, since that could take 10-20 years or more, yet a low coiner might be someone who is purposefully investing into bitcoin in a whimpy way, so there may be some need to increase your level of investment into bitcoin, which might be facilitated just by buying bitcoin regularly and studying into bitcoin further in order to gain confidence and then to potentially have some abilities to increase BTC accumulation aggressiveness in the direction of being less whimpy.
Buying bitcoin when the price is cheap or experiencing a decline (DIP) is indeed a better purchase if the opportunity arises. But as @JJG said, a beginner who is about to start investing in bitcoin, does not need to wait for the price to fall to make a purchase. I really agree with both opinions, because the opinion expressed by @Fury leads to deeper caution and wanting to get maximum profit from his bitcoin investment. However, the opinion expressed by @JJG is similar to the DCA principle, because when buying bitcoin, you don't really care whether the price goes up or down, and this concept is very good for long-term investors. So basically these two opinions are very correct if you want to apply them when investing in Bitcoin (essentially it depends on the person).

However, regarding starting to invest in Bitcoin first or learning about it first, I still prefer to learn about it first. Because in my opinion, when Bitcoin investment only uses greed or reckless capital, sooner or later things about Bitcoin will be learned too. But the bad side is that sometimes learning will come when failure or mistakes occur. This is different from learning Bitcoin before, even though learning it takes longer, when you start investing it will definitely feel smoother. So I personally prefer to learn first, rather than jumping straight in.
Nobody knows it all when it comes to bitcoin investment. And there is no point where someone will say this is the level you will get to be sure that you have known everything about bitcoin. Bitcoin is not like a college degree that you will need to spend couple of years to be certified as someone who knows bitcoin. What am saying in essence is that, you only need basic knowledge such as knowing how to set up your non custodial wallet, how to step up your centralized exchange account were you can buy from, or how to buy from a decentralized exchange (Dex). And effectively move your bitcoin to your wallet after purchase. These are not rocket science and any who can read and write can and write can figure these things out within few days. As a newbie I think that's all it takes to invest in bitcoin and also knowing that you are not to keep your bitcoin in a centralized exchange. If there other things which you want to know, you will get the opportunity to know them down the line as you get older down the investment line. As someone who is new to bitcoin investment, you don't need to learn about the technical aspects of bitcoin before making your first investment, so if these are what you are saying you want to learn first before investing, then you are getting it wrong. You can still learn them with time, but it is not a criteria to invest in bitcoin. Once you have gotten the basic knowledge I listed above, you are good to make your first investment.