Quote from: MusaPk on July 24, 2024, 05:43:22 PM

Quote from: JayJuanGee on July 24, 2024, 07:05:47 AM

Surely I have nothing against the idea and the actual practice of specialization, especially when it comes to something like trading - yet at the same time, even if one specializes in bitcoin (and bitcoin trading), generally speaking, it still is likely NOT very smart to trade an asset like bitcoin, except maybe small portions of your capital after you have a HODL stash.... so for example, if you think about bitcoin as an asset, it is one of the best (most pristine) assets in existence (and perhaps even the best), and even though it is quite volatile, it also has a lot of fundamental paradigm shifting qualities that cause a lot of ongoing potential for explosive upward growth periods in its price and the explosive growth periods are not very predictable, no matter how much you study bitcoin you might not necessarily see or appreciate the days that you need to have had been in bitcoin until they already played out an if you are not in during days that you should have had been in then you are left with less bitcoin than what you could have otherwise had... so yeah, traders can be cocky as fuck and even win 9 out of 10 trades, but then not be in on one of the trades and then end up losing most if not all of their earlier profits by not being in at certain times in which BTC ends up shifting up dramatically... so they are left with a dilemma to wait it out (which might not work) or to lock in their losses, which is buying back BTC at higher prices than they ended up selling... and these kinds of uppity explosive dynamics have taken place many times in bitcoin's history.

That's very much correct that Bitcoin is very much famous for it's wild swings i.e. swing of price in both directions. Anyone coming to Bitcoin will recognise these swings sooner or later, though it's better to get yourself familiarise with these wild swings as early as you can.
As far as regretting of not investing in bitcoin is concerned, I think it's more wise approach to look what's coming ahead rather then looking back and saying that now it's too late to buy Bitcoin.
We do have lots of strategies (shared by you) about how to get started with bitcoin even today. What has gone is story of the past, let's just focus on the opportunities that are lying ahead.

To state the obvious, there is a certain truth that any strategy has to start from where any of is at right now, whether we have already been in bitcoin for a while and we are figuring out if there might be some way that we might improve our BTC accumulation and/or maintenance strategy or maybe we are just starting in bitcoin and bitcoin accumulation and we are figuring out our strategies, then we have to figure out our own budget and our 9 factors, and our view about the BTC price movement is ONLY one of the factors, which also might not be as important as several of the other factors.. and it could take us years to really get our practices in a kind of order that we start to feel comfortable with the amount of bitcoin that we are regularly accumulating and also the other balances of our cashflow and our cash reserves.

Quote from: ginsan on July 24, 2024, 08:39:25 PM

Mr JJG, the explanation you explained was quite good and added insight for me. I will make it a practice not to think out early and continue week after week to continue accumulating Bitcoin. Why do I believe that is because the money I use to invest in Bitcoin is money that is not used or that is not burdened in my daily life. For this reason, I will no longer say when the ideal age is for them or for myself to experience the results of investing in Bitcoin because it is all their own decision.

Apart from that, you are right that there is no satisfaction that we experience, I mean I have passed 72 purchases every week but I have the desire to reach 100 purchases this year and hopefully it goes with the plan I have laid out. Of course I have overcome many obstacles in the last 1.5 years and I have also learned a lot from you because I often read your posts which make me want to continue holding my bitcoin. Age is no longer a calculation because without us realizing it we pass 30, 40 and 50 years so quickly. For this reason, the best time is to use it in a good way, in other words we continue to invest in bitcoin.

Surely none of us can say what the factors of another, and there surely could be some guys who are able to sacrifice a lot of their expenses and even to be able to work harder and more hours to increase their income and the combination of increasing their income will increase their disposable income and cause them abilities to be more aggressive than others in terms of being able to buy more bitcoin.

And there might be other folks who struggle and struggle to increase their income and cut their expenses, but they still might not be able to invest very much in bitcoin and it might take them 20 years or longer before they really start to feel that they have accumulated a decent BTC stash.

So no matter our conditions, we have to try to work within our parameters to try to make sure that we stay in the game. We do not over do it or under do it, so that we try to minimize the likelihood that we will have regrets because we did the best that we could do based on our own individual circumstances... And even if there are not any guarantees, it is quite likely that quite a few of us who stay persistent 4-10 years or longer ( and yeah some of us 20 years or longer), we will have good odds of being in a better position because we chose to persistently stay focused on bitcoin and we coupled our focus with reasonable and prudent and perhaps even a bit aggressive action as compared if we had not maintained such persistent focus on bitcoin.

Quote from: Dailyscript on July 24, 2024, 09:25:13 PM

At the end of the day it's not about how long you have been investing but how much you have invested that will determine the level of profit one would have in his Bitcoin investment.

There is a statement in regards to time in the market is better than timing the market, so there tends to be a lot of value that comes from being in the game for a long time and not overdoing it so much that you end up taking too many chances, so in that regard, each of us has to find an approach in which we do not become too greedy, and we may well have to make sure that we have enough cash, so we might refrain from buying as much bitcoin because we want to make sure that we do not over do it.. .. so the balance can be quite difficult and many of us may not realize that we overdid it until it has become too late... so we have to be careful to not end up losing any of our bitcoin because we over did it and we were too focused upon getting more bitcoin and we ended up failing/refusing to adequately protect our short-to-medium term cashflows and our back up cash reserves. Those kinds of balance have to come from within the boundaries of the judgement of each of us, and sure some of us try to give examples of good practices as compared to bad practices, but sometimes all of the examples cannot be given and guys have to end up exercising good judgements in regards to how to balance their cash flows as compared to how much bitcoin they are able to buy weekly or whatever period of time they are buying their bitcoin.

Quote from: jossiel on July 24, 2024, 10:04:56 PM

Quote from: Miles2006 on July 24, 2024, 09:32:25 PM

I believe investing in bitcoin now is actually the best mostly for those contemplating what to do probably if they should buy and hold or not.

The best time to do it was always in the past and not in the present. However, we cannot go back in time and so we have to deal with the present and before another regret comes, do it presently so that not another opportunity will be missed.

Quote from: Miles2006 on July 24, 2024, 09:32:25 PM

All this doesn’t matter as our approach concerning bitcoin investment is to take advantage and accumulate now when bitcoin has not gone too far. Talking about the future of bitcoin, although no one can tell but it’s certain bitcoin will not fall and as investors it’s best we develop positive mindset with our investment.

That positive mindset is being disrupted when you're less experienced. And this happens to many investors that whenever a few falls happen, they all panic.

But an investor that has enough experience of buying the dip and holding for so long, there's no inch of movement to their emotions happen and that's why holding firm has been an easy action for them.

Each of us has the ability to set up strong cashflow management practices that allow us to strengthen our emotional reactions, so the better kinds of cashflow management practices that we have that are balanced with our bitcoin investment strategy, whether DCA, buying dips and/or lump sum, then the more likely that we will keep our emotions in check.. and yeah, it might take a while to build the skills, practices and application, so the newbies might have more tendencies to want to panic while they are still building, so they should be attempting to build and buttress their systems to lessen the likelihood that they will panic because either they are continuing to buy or they are holding or they are doing some kind of a practice that helps them to couple some of their actions in with their beliefs in bitcoin being a good place to put some of their extra money and if they don't have extra money, they might have to hold from time to time until they are able to generate some extra money to buy more... especially if they are in their accumulation stages, then the main thing is just buying regularly but also having some reserve funds so there is not any kind of sense of panic that sets in merely because the BTC price moves a lot in one direction or another.