Quote from: Gallar on Today at 08:00:53 AM

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.
~Snip

Yes, JJG does provide very appropriate advice for anyone who wants to invest in Bitcoin (especially for members who like discussing or reading his posts). Especially in terms of thoughts or ideology about collecting money into bitcoin. Because it cannot be denied, many people and sometimes me too, think too much when they want to buy Bitcoin. Although basically it is normal to think first before buying Bitcoin, if you overdo it it will definitely end badly.

Moreover, thinking too deeply about when can enjoy the results of Bitcoin investment will certainly dampen enthusiasm for investing, especially for people who are no longer young. So as you said, if have money that is very cold or unused, don't think too much, it's better to just collect it in the form of bitcoins. Because in essence the money invested in Bitcoin will certainly not be lost or suffer losses, but what is certain is that the money invested will still be there and its nominal value will definitely continue to increase. Because it has been proven to date, Bitcoin continues to experience quite significant price increases.

Quote from: JayJuanGee on Today at 07:27:42 AM

Quote from: Hewlet on Today at 07:07:34 AM

I believe we who are now the current set of investors are at a better advantage than earlier investors and we can actually learn from the mistakes they've made and ensure that we don't repeat those mistakes.

I doubt that we can avoid mistakes. We have to do the best we can with the information that we have, and sometimes we are going to make mistakes because we might not sufficiently figure out how to tailor our approach to our own circumstances, and so we likely will have to tweak our approach from time to time, since our information might change and also our circumstances might change and we have to make choices about how to balance out our approach to attempt to best account for those changes in information and/or circumstances.

If you say more profitable, I don't think that's the right word. Because current bitcoin investors and also old bitcoin investors, if you look at the price of bitcoin, it is clearly more profitable to buy bitcoin in the past. So if you look at this, it is clear that bitcoin investors who have been around for a long time can be said to be more profitable than current investors. However, if viewed from a scientific context, it is true that bitcoin investors who are just starting out now find it easier to find information about bitcoin investment. Because as you said, we can take the experiences and mistakes experienced by previous investors and use them as lessons for us now.

However, as JJG said, the knowledge we take from the experience of old investors will not guarantee us 100% error-free. This is indeed true, because everything in this world continues to develop, including bitcoin too. Because a simple example like this, stock investment, has been around longer than bitcoin investment. So everyone who wants to invest in shares must be able to avoid mistakes that can cause losses, because there are still many other people's experiences that can be applied. However, the evidence is that currently quite a few people have experienced losses in stock investments due to their own mistakes. So that's what's happening among bitcoin investors right now. Even though can get a lot of information and knowledge about Bitcoin investment, there are still many who can fall into the abyss of mistakes or losses.

So what triggers this to happen? namely implementation.
Because in essence what is difficult is not seeking knowledge, but what is more difficult is applying that knowledge to the bitcoin investment that we make. So even let's say someone is going to invest in bitcoin and hire a great mentor who has experience with bitcoin. This will be useless if the person who hires the mentor does not apply all the knowledge that the mentor has explained to him.

Both of us seem to be suggesting that learning comes from experience, and personally, I am not even suggesting that people are going to learn and the same rate. Some people learn faster and might even have had better and more interesting experiences in their lives prior to getting into bitcoin, and frequently if we try to be in touch with our limitations we might be able to experiment and also to try to make sure that we are learning from our mistakes rather than making similar mistakes over and over, since sometimes it can be difficult to even know the extent of our mistakes and some practices might not be the right practices. Sometimes we might get overly focused on short-term profits, lack of profits or even losses that we have, but then we also might learn that getting too focused on short-term might not be to our advantage if we are accumulating bitcoin and we are early in the process of BTC accumulation, we may well not be in profits, and it may well not even be very important if we are in profits. Sometimes it might be better that we are not in profits in the beginning, since in the beginning we should be accumulating BTC, which can take one or two cycles to get to a really good place with our BTC accumulation, depending on the level that we are able to make our disposable income - which also sometimes young people might be attending school (university) and training in various ways so they might not be in as good of a position to increase their disposable income and to invest into bitcoin, so they have to find a balance in their investment that is comfortable for them.

Experience may be more important than a mentor, yet the idea of a mentor is to get advice and guidance, yet sometimes the free sources are as good as the paid sources, yet guys have to figure out their balances in that too, since one of the selling points of a paid mentor is that they will specifically focus on helping in a way to cause a belief that their services were worth it.

Quote from: MusaPk on Today at 10:26:07 AM

Quote from: JayJuanGee on July 25, 2024, 07:05:21 AM

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.

Price moment is just one factor but an important one. Seeing where we are standing right now, it will be ideal to wait for dip that can take price down below 50k and accumulate aggressively at that price. These 9 factors are good specially for anyone that is new to bitcoin and if I have to chose the most important from these 9 then I would go for cash flow since that decide how much you can invest.

I doubt that anyone here is suggesting that it is a good idea to wait for a dip, especially if you are expecting below $50k that might not happen (and surely seems like a long shot, in spite of what a lot of pundits are proclaiming), and we don't know if any dip will happen. A lot of guys here have already responded to your seeming pie in the sky ideas about waiting to be a good strategy, which seems quite off, absent some kind of context to explain why waiting would be preferable to just buying, even if the BTC price might dip further, then just buy more.

So, as already mentioned to you (or in response to your post) those who wait for a dip would likely have had either already prepared for up buy buying regularly, buying recently or just had a decent amount of front loading of their BTC purchases. Anyone newer to bitcoin, and maybe even in their first cycle, may well not be advantaged at all to apply a waiting strategy now or at any point in their first 4 years or so.. .. DCA also is not a waiting strategy... and I tend to recommend buying every week for the DCA'rs unless their cash flow does not make weekly buying easy... so the waiting and the structuring for newbie investors is mostly structured around cashflow dynamics rather than expectations of price movements, even though surely between every week, if a person is buying every week, there might be some a attempts to buy dips during the week, but there still might need to be a deadline to buy at a certain point in the week whether the price had dipped or not and then presumptively after that weekly buy had been made, the BTC buying allowance amount for the next week would soon thereafter come available.

Quote from: $crypto$ on Today at 03:38:42 PM

Quote from: JayJuanGee on Today at 04:09:34 AM

Frequently there are dumbass negative news hits on bitcoin to talk BTC holders out of their coins or to persuade others (perhaps low coiners and no coiners) not to buy bitcoin, so the only one they have to blame is themselves when they listen to those negative stories about bitcoin, especially anyone who might be without BTC, with low BTC or even who might be in their first BTC cycle when they should be focusing on building their BTC holdings rather than getting distracted by folks trying to talk you out of your coins or talk you into NOT buying BTC and/or acting in your own best financial interests.

So don't ever look at negative news that doesn't make sense because this is certainly the work of the media which is just a little mistake if it is already in a well-known article then bitcoin will be fried to be worse, that's why beginners who are just building bitcoin ownership hear this news there is a little doubt / anxiety, what is better is to ignore any news, don't check the market every day, but it's better to check the market when you want to buy btc to increase your BTC ownership.

Because by seeing negative news, of course this will affect their focus in building their BTC ownership, there are even beginners to stop buying because they see this news, so for me, I don't care about any news because I am immune to news that corners bitcoin when it goes down, but I already have a firmness that when it goes down it is time to buy at a discount to increase the portfolio will grow even more.

I would not necessarily suggest to completely ignore the news, yet frequently the news and the various happenings that might even relate to bitcoin, are not necessarily going to affect your BTC accumulation strategy, since the short term news events likely should not affect the strength of your bitcoin conviction or bitcoin's investment thesis, yet if you might not really be very sure why you are invested in bitcoin in the first place, you might end up getting overly influenced by various short term happenings (such as news events that may or may not be very relevant)..

Many of us likely realize that some of the most relevant pieces of information to affect your bitcoin investment approach relate to your cashflow and your discretionary income and the various ways that you are creating back up cash systems for yourself that helps you to determine your level of aggressiveness, and surely you miight already have some built in ideas about how much bitcoin that you are buying every week no matter what and how much money you might put on the side for potential dips, and you don't even necessarily need to put any money on the side for dips, yet some guys will feel better to have a bit of extra money on the side and other guys just consider their weekly DCA amounts to be sufficient for also buying dips. There is no exact correct answer regarding if you should completely lean one way or another or to allow the news to affect you at all in terms of some buying bitcoin systems that you might already have in place and if you end up deviating too much from your existing systems, you might realize that you made a mistake or that you ended up gambling which may or may not end up paying off in the long term or sometimes you make some changes, and then you realize that what you did might not have made any big difference, but going through the process of making some of you changes (perhaps even small tweaks to your already existing system) might have helped you do learn about how to approach the matters in the future.

Part of the point would be to attempt to stay focused on your various systems and goals, and sure, maybe some current events might cause you to tweak a little bit, but you may also have to realize that if you tweak too much then you might have had been better off to just stick with your already existing system since some tweaks might increase your risk or cause you to be gambling more than investing.. and it is not always clear when you might have had crossed over such lines and you might not realize until later that you had made such a mistake (or overreach of your own personal resources, whether financial or psychology or both).

Quote from: laijsica on Today at 03:51:10 PM

Quote from: MusaPk on Today at 10:26:07 AM

Quote from: JayJuanGee on July 25, 2024, 07:05:21 AM

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.

Price moment is just one factor but an important one. Seeing where we are standing right now, it will be ideal to wait for dip that can take price down below 50k and accumulate aggressively at that price. These 9 factors are good specially for anyone that is new to bitcoin and if I have to chose the most important from these 9 then I would go for cash flow since that decide how much you can invest.

Predicting the value of Bitcoin and waiting to invest or buy dips are both uncertain. You need to set your target first and wasting time to accumulate bitcoins may not be the right decision as even if there is a downward trend the chances of its price falling below $50k is very slim. The freedom of activity of your assets is of course your own but it may be ideal to take expert advice and especially follow the DCA strategy to raise enough awareness about the proper use of assets in investing.
Waiting for dips means you lose an important day so your decisions should be towards depositing bitcoin by starting DCA because every buying regardless of its price can give you much more profit than other investments like 2x or 3x mathematical rate. You must buy aggressively during dips and also focus on accumulating bitcoin regularly.

Part of the dilemma in ongoing aggressive DCA is that you are not going to end up having extra money to buy the dips, so there is always a bit of a balance between buying and waiting when you choose to hold back some of your fiat to hold in reserves for buying on potential dips. there is no right answer regarding the right strategy, except perhaps the newer (earlier) that you are in your bitcoin accumulation journey the more likely you should be just erroring on the side of DCAing and accumulating regularly rather than waiting or holding back much if any value.. yet that remains a judgement call..and sometimes you will have regrets when you don't balance very well, yet a lot of times newbies have regrets even though they should not necessarily have regrets since everything you do can have trade offs and you don't necessarily see or recognize the tradeoffs until after the BTC price has moved, yet part of the DCA strategy helps to get price moves out of your head since they are really difficult to predict, especially short term price moves and especially there are a lot of folks telling you which way they are going to move and those people are not tending to be as correct as they might present themselves as being.