Quote from: Justinapeter on June 05, 2024, 06:46:14 AM

Quote from: JayJuanGee on June 05, 2024, 05:24:42 AM

Quote from: Justinapeter on June 04, 2024, 07:24:08 PM

Buy when the price is low and sell when the price is high, that is the golden rule.

We are not talking about selling in this thread. We are talking about various forums of accumulating bitcoin with a presumption of long term investing, and there is no need to figure out your various selling parameters until later down the road.

Of course, you can talk about whatever you like, but if you are talking about buying and selling as a kind of basic approach to investing, then maybe you are not even clear about what investing means, since you are talking about trading rather than investing.

Yeah, a lot of folks make the same dumbass mistake, and they act like their getting in and out of some asset (whether bitcoin or anything else) is actually investing, when it better fits into the category of trading and or gambling.

I'm happy I'm am getting ideas, I understand what you are saying very well, as a newbie I have thought of ways or strategy to use in my investment and that is one of the reasons I joined this forum to get ideas.
From the ideas I have gotten from this forum now trading is a no for me when it comes to bitcoin investment, I'm planning on hodling and I will use the DCA method mentioned here in this forum for me I think is the best I don't need to wait for the fall of Bitcoin before I can start accumulating I will start now since is a very very long time investment am going into.
Thanks JayJuanGee for your intelligent write-ups, I went back and I saw a lot of your write-ups and it has really changed my way of thinking about Bitcoin investment.

I am glad that you are rethinking your earlier practices - especially if you had been thinking that selling is a good way to accumulate more bitcoin.. so if you can figure out some kind of an amount of weekly investment amount that is reasonable to you, whether that is $100 per week or $10 per week, you can start out some kind of an ongoing BTC accumulation plan and to study bitcoin at the same time in order to perhaps become more confident in your own choices regarding how much to buy, how long to accumulate it and how much bitcoin that you might think that you might need before you might start to change your strategy into something other than ongoing accumulation... and one of the things with bitcoin is that anyone can get into it at amounts that work for them, yet they still may have to figure out how to hold it themselves and various other kinds of learnings about bitcoin in order that bitcoin may have greater chances to give them more rather than fewer options in their own futures.

Quote from: Kliss on June 05, 2024, 07:16:27 AM

You are absolutely right, For many focusing on holding and accumulating Bitcoin for the long haul might be a safer in their investment. Their are numerous testimonies on how holding bitcoin for the long term pays off. It's crucial to stay informed and cautious in this fast paced crypto space to protect your investments. Trading in the crypto world can be a risky game, especially for those new to the scene. Centralized exchanges do rely heavily on trading for market movements, and that can lead to manipulation, making it tough for beginners to navigate. Understanding the ins and outs of trading, like market dips and news impact, requires a deep level of knowledge and skill.

We are talking about bitcoin and not crypto or shitcoins in this space. Sure you used the word bitcoin a couple of times yet it makes no sense why you seem to believe that there is some kind of need to use the term crypto.. unless maybe you don't know what bitcoin is.. or maybe you are trying to appear smarter by throwing in some meaningless and amorphous word in a thread that is about bitcoin.

Quote from: Ruttoshi on June 05, 2024, 11:27:40 AM

Quote from: wxa7115 on June 05, 2024, 05:58:17 AM

Finally you claim DCA to be risk-free, which again is not possible, as even something as simple as getting out of bed has a risk, so DCA must have it too, even if it is a very solid strategy to use by newbies and experts alike.

DCA is only risky if you over invest aggressively with it, apart from that if you use 10% of your income, or the right amount from your discretionary income to invest using DCA on a long-term bitcoin journey with regular accumulating bitcoin weekly or monthly. It will not put pressure on you and you would not feel as if you are investing, and gradually your portfolio will increase overtime. It is the best method for beginners to accumulate bitcoin to build their portfolio with passage of time.

Any investment is risky in the sense that you can lose up to 100% of the amount that you put into the investment.

So with bitcoin, if you are investing with DCA and using discretionary/disposable income, then at least you are not using money that you need for your expenses, and if you need the money then maybe you should not be investing it into something that could go to zero.

On the other hand, surely we know that there are upside and downside scenarios, including in bitcoin, so there are chances that what you invest into bitcoin could increase in value and might even increase more than other places that you could have had placed the value. So there is a balance that comes from both understanding that the BTC price could go either way, while at the same time, bitcoin happens to be quite an amazing paradigm-shifting kind of a technology of sound money and even facilitating self-sovereignty, so that folks who understand and appreciate bitcoin's value proposition can likely recognize and appreciate that bitcoin remains something that is likely going to continue to gain in adoption and grow in its various network effects. which also are somewhat pegged to bitcoin's likely ongoing price growth.