Quote from: Felicity_Tide on Today at 09:38:44 AM

Quote from: Stablexcoin on July 07, 2024, 11:44:26 PM

I am certain that many do not capitalize on this dip opportunity and have chosen to remain in doubt about whether to buy now or wait a little for it to dip which is very wrong to do so. This is the time that knowledge truly pays only but a few will be able to understand.

Are you sure about this statement?. Assuming my DCA strategy is to allows purchase $40 worth of Bitcoin every 10th day of the month, and the price of Bitcoin went down to as low as $56K/BTC on the 1st day of the month, and I decide not to buy on that first day, but rather wait until my normal time(10th day) due to financial constraints(like salary delay which is a common thing), and other reasons. Does that actually mean I don't understand the knowledge behind dip, or I just don't want to capitalize on the dip?.

To me, it seems that you are attempting to be responsible and not to gamble with money that you do not yet have in your bank. Surely, we can lend some value to our future income and our future expenses to the extent that we can expect any of them to play out, but we have to be careful in terms of spending them prior to getting them locked down... .so if we are not spending from our disposable income, meaning money that we already have in our pockets (banks or wherever we keep our money), then we have to be careful about spending it before we get it since that might be a kind of gambling rather than investing... .. yet don't get me wrong, each of us does likely place a certain expectation in regards to our future income and/or expenses, but there could be lines upon which we should not cross if we prefer to be investing rather than gambling... so maybe I know that every two weeks I get paid $2k, and my expenses every month are about $1.4k, and if I have various reserve funds already in place, I might spend some of that money before I get it, but if I end up getting less than expected, then I have to be prepared that somewhere in my reserve funds (not my emergency funds) will end up covering my decision to spend prior to receiving the money, and so I should not be creating situations in which I would have to end up dipping into emergency funds for some kinds of spending that were completely under my control, which includes buying bitcoin dips.

So for example if I tend to have around $350-ish of discretionary income every two weeks, and I have reserve funds that are in various categories:
1) $1,100 for buying dips or baby emergencies ($100 for every $1,500 dip between $52,500 and $35k-ish - (I had already bought $100 at $55.5k and $54k)
2) $600 saving for a trip next yearor baby emergencies
3) $60 saving for a bicycle or baby emergencies
4) $300 saving for various unexpected entertainment expenses or baby emergencies
5) $600 saving for a caror baby emergencies
6) $600 non earmarked savings/available fundsor baby emergencies

7) by the way, there could be another completely other category that might be in the ballpark of $3,500 or more that would be my emergency fund (that currently is slightly more than 3 months of my expenses), and perhaps I would never tap into my actual emergency fund absent an actual emergency.. maybe historically I used to keep my emergency fund at around $2k, but then in recent years, I raised it to $3,500 and I am anticipating in the coming years that I am going to have to raise it to around $5k since my monthly expenses seem to be creeping upwardly.

There could be various categories of my reserve funds, and maybe some of that money is held in the bank and other might be in other places with earmarks.. and maybe relatively easy to get.. perhaps some earning interest and others not. So if I suddenly feel that I want to buy more BTC because there is a dip and I had not already set enough in place for buying dips, or if I were to want to buy BTC prior to my income coming in, then maybe I could draw from one of my reserve funds in order to have options and to do what I want, yet I probably would have already had assigned priorities towards which one of the reserve fund is more important to me personally and whether i want to tap into funds that are already allocated, so the thing and/or the reason for my tapping into those funds would have to be more important than the thing that I am saving for in terms of having had built up the reserve funds.

Quote from: Felicity_Tide on Today at 09:38:44 AM

I think you need to understand that a strategy must be a strategy. It doesn't matter if your buying time comes when there is a dip or not. Buying the dip for those who uses DCA should be done if there is a spare change or additional funds that has nothing to do with your investment funds, except the dip falls within your strategic time of buying. Though, there is never a perfect time to buying Bitcoin, but if my DCA strategy agrees with buying Bitcoin every first Monday of the month, then it should be so, no matter the market value or price. I would be of course, delighted to buy any dip, if I have any additional funds lying around.

So many times in this thread we have surely mentioned that buying the dip might not even be practical for a beginner investor since it could take a beginner investor a year or two or longer just to get his finances into a good position that he might be able to start to have some money set aside for buying the dip.. and surely the first two categories to build first is the emergency fund (of 3-6 months) and the bitcoin investment which surely could match the 3-6 months of the emergency fund in terms of size before setting money aside in other categories including setting money aside for buying the dip, which surely might be a luxury for any newbie investor who might be struggling with the amount of his disposable income and it might not make a lot of sense to be holding money aside if the disposable income might be less than $100 per month. and maybe there had already been a decision to invest $10 per week into BTC and $10 per week into the emergency fund to build both of them up to 3 months worth of expenses, which might be several thousand dollars, which could take 1-2 years to build them up to that level, so there might be ways to try to increase disposable income by increasing income and cutting expenses, but even that sometimes might be difficult to accomplish for some folks.

Quote from: B2Z on Today at 10:38:57 AM

Quote from: Patrol69 on Today at 10:10:42 AM

We must have experience in any subject before giving advice.

You are right I agree with you. Before giving advice to someone else he needs to gain experience in the matter. If a person is not experienced enough about bitcoin, he cannot answer your question. Because if an experienced person answers someone's question by answering their question, you will understand how experienced he is. An experienced person's post will always be very positive. Questions cannot be answered well by hearing from others. But experience is very important in bitcoin investment If we want to invest in bitcoin we must gain experience. Sometimes due to our lack of experience we may not earn enough profit in Bitcoin. And before investing in Bitcoin, you must know yourself well about Bitcoin. Slowly we will become more experienced in Bitcoin. But no one can gain experience in Bitcoin from scratch. At first he invested in Bitcoin as a newbie and slowly through his knowledge and skills he became very experienced in Bitcoin. But the Bitcoin market is very volatile. So in case of bitcoin investment we must be careful enough then we have to invest. In this way if we can invest in bitcoin we can definitely achieve a lot of success.

Well, there are a lot of ways to participate in a thread like this, even if a person might be very new to bitcoin investing.

A newbie can describe what he is doing and ask questions or the newbie could describe what he is doing and argue that what he is doing is a good thing and perhaps even suggest he is following sound practices with what he is doing and what he is planning to do. Just presenting ideas can sometimes be ways to ask questions, even if the post might not be framed in terms of a question.

It is nice to hear some of the experiences of others, and some folks have experiences in areas that are related to investing into bitcoin, but maybe not specifically in bitcoin, so they might have to describe some of their experiences in order that we might better understand how they might be thinking about their approach to bitcoin.

Of course, sometimes in a thread like this members will read the posts of other members and come to their own opinions regarding the posts of others, and they may want to ask questions about the post or even to state that they believe that the member is wrong in terms of what the other member is suggesting.. so some of those responses may or may not be completely based on experiences, but might be questions about logic and conclusions and opinions of other members.

Sometimes we do end up involving ourselves in threads like this one since we might be trying to learn from the experiences of others and perhaps even trying to prevent or minimize some of the same mistakes of others, so we might not specifically go through some of the experiences and still come to some opinion and/or perspective regarding how we might want to approach our bitcoin investment, and we might not even be so sure if we are correct in regards to our own opinion and/or perspective unless we might share some of our ideas in a thread like this prior to applying our ideas into a bitcoin investment (accumulation) practice. Some things might be confusing for beginners/newbies, and we might be able to help them with certain kinds of questions that they have, including from where they might best source their bitcoins based on where they live and sometimes the available options are changing, too.

Quote from: EclipseXcrypto on Today at 10:57:29 AM

Capitalizing on dips depends on an investor's financial power( reserve funds), preparation towards a dip.

Buying the dip or setting up strategies to buy the dip may also depend upon how long you have been investing into bitcoin and how many BTC you have already accumulated in regards to your disposable income and/or your goals, which surely might also relate to your reference to financial power, but some aspects of individual considerations relate to financial considerations, but other aspects relate to psychological and perspective based considerations... for example, looking at the 9 individual factors that I believe are good to consider for both beginners and for more advanced bitcoiners.. and so yeah, buying the dip does seem like a more advance technique that a brand new bitcoin investor might not be advantaged in doing if he is in his earliest of stages of getting started... since there is no way to prepare for up besides buying bitcoin, and if you are waiting for a dip, you may well not be sufficiently/adequately prepared for up.

Quote from: Wind_FURY on Today at 11:55:52 AM

I have an advice that will truly gladden every man's heart if they are lucky enough to have it happen to them!

- Find a very rich girl to marry and love her like she's the only woman left in the world!

I believe if you could do that, you will probably have no problem looking for capital to deploy for your monthly DCA or Buy the DIP strategies.

She doesn't have to be beautiful, just rich is enough.

I am not sure if that is great advice.. but it could work for some folks... reminds me of the suggestion regarding: how to become a millionaire... start out with 2 million.