Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
Felicity_Tide
on 11/07/2024, 19:50:37 UTC
⭐ Merited by JayJuanGee (1)
I believe that part of the problem that comes when someone builds a decent amount of bitcoin, and then if the BTC price appreciates in value, then the person may well feel that his ongoing contribution is hardly making any difference, and surely there may be quite a bit of truth to that, which can cause some disincentives to continue to buy  and to just let the investment into bitcoin ride out and maybe invest into other things, so at that point they are starting to reach a potentially reasonable conclusion that they have accumulated enough bitcoin - while still not being at fuck you status or even having any ways in which they might feel safe from having so much invested in one basket.

Another exciting round of enlightenment from you. I think the scenerio where an investor starts getting the feeling that his/her ongoing contribution is hardly making any difference is common not just in BTC investments, but other areas of life. To be sincere, that's literally my major fear, as I don't want to get to a stage where I would start losing interest in continuing accumulation due to my thoughts on the difference that my investment has made so far.

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Another part of the problem, might come in which the person is valuating the BTC that he holds based on spot price which surely fluctuates a lot and then he might decide to cash out some bitcoin for consumption purposes rather than diversification of investment purposes, so in that regard, it could still be o.k. to take some profits, as long as he does not end up overdoing it and as long as he mostly attempts to be reasonable and prudent about it, and maybe even replacing some of his investment later down the road, so there can be dangers and delays in getting to fuck  you status and even temptations that cause the BTC accumulator to stop accumulating and maybe even ending up interfering (or sabotaging) his own abilities to even be able to reach fuck you status.

Cashing out of ones investment with the aim of making replacement back is solely determine by self control. Personally, I understand myself well in the aspect of investment, that is why I don't bother touching, because I know I don't always have that will to replace. I hope to learn that someday, but for the now, I prefer to just make my investment separately, and also have enough funds for personal use, as I prefer to stick with a particular investment term(time) - my 5 or 6years should be what I agreed at first.

So, I think investors should be able to tell themselves the truth, on how they are are able to make replacement ok there investment if they decide to cash out. For sure, I think JJG has no problem in making replacement assuming he's the one cashing out for a moment.

The advice you say sounds quite reasonable because every new person who wants to become a Bitcoin investor must be based on knowledge so that at least they can know how to store Bitcoin in their own personal wallet very well. Because everyone will definitely be blind and can even fall in the wrong direction if they are not guided by the basic knowledge that must be in their own heads. And from this I think it would not be wrong for anyone to follow people who have been successful through Bitcoin and also people who have had enough experience through Bitcoin investment because this is also part of making ourselves successful in a particular field.
I would be careful in presuming that anyone starting in bitcoin needs to actually hold his own bitcoin in the beginning.  Sure holding bitcoin is important and learning that holding bitcoin is what distinguishes it from other assets, but at the same time, I think that I a person (a beginner) can work up to holding his own keys and he might spend his first one or two years in bitcoin just building up price exposure and maybe learning about how to hold his own keys, and so people can be in different places in terms of how much they are able to learn at one time and how long it might take them to get to a point of being able to hold their own keys.. so I don't see anything wrong with beginners starting out with mere price exposure and realizing that they are not really owning bitcoin even though they are starting out by investing in price exposure and perhaps otherwise getting their finances and psychology in order so that they can continue to learn about bitcoin while investing into it (in a price exposure way)..

Yes, the more empowering aspect of bitcoin comes from having it (at least a decent amount of your BTC holdings) in your own possession, yet there are a lot of folks who have BTC in their possession, but also keeps some on exchanges and through third-parties too.. and so it is up to each person regarding the proportions of such and to realize the power of holding decent amount of BTC yourself... because none of us really can know when third parties, governments or even hackers might end up gaining access to coins that we are not holding in our own possession.. and yeah, hackers are getting more sophisticated too.. so anyone holding their own coins have to be careful not to get socially engineered or otherwise tricked or forced out of their coins.. which is also an ever changing topic and even very smart folks, long time bitcoiners might not realize some of their own self-custody vulnerabilities, even though it remains preferable to have a decent amount of self-custody when it comes to BTC.. but not necessarily telling everyone that you know.

In as much as learning how to hold Bitcoin is important, I don't think that is all a beginner needs to know before going into Bitcoin investment. A week at most, is enough to enlighten the noobs on everything he/she needs to know. The real deal starts when trying to build up, just as you've pointed out. It's just like learning how to drive a car. Learning how to turn the engine ON is just a basic which shouldn't take a week, except the learner is the special type( you know what I mean ). The main task starts when you start learning when and when not to use the gear, steering, and all the types of car lights, etc.