Quote from: EclipseXcrypto on Today at 07:07:08 AM

Quote from: JayJuanGee on August 06, 2024, 11:08:58 PM

Quote from: EclipseXcrypto on August 06, 2024, 06:54:14 PM

Right now in the market is a perfect time that reserved funds can be put to play by buying more to increase our accumulation because there is downturn in bitcoin price which we can buy at lower bitcoin Prices.

To me, it seems quite problematic to be thinking that there is any such thing as "perfect time," and many of us already recognize and appreciate the old maxim that time in the market is better than timing the market, which surely such time in the market maxim seems to apply to bitcoin.. but hey.. do what you like in terms of your fucking around with attempts at identifying "perfect" times.

Pardon me for using the word perfect time, indeed time in the market is really better than timing the market especially when it comes to bitcoin. But what I was trying to mean was that we can take advantage of downturn moments and accumulate more Bitcoin by buying bitcoin at lower price rate if funds is available to increase our holdings because there was a sudden decline in bitcoin price from 69k - 53k and some folks might be complaining due to price decline but we can make the most out of the situation. And currently as am writing the price have started to appreciate 56k people should get used to bitcoin volatility because its known for that but should always think of taking advantage of it whether downturn or upward.

Overall I don't have any real problem with what you are stating beyond my already stated concerns and/or objections, and surely any relatively newbie into bitcoin who has not been able to front-load his investment should probably be spending at least a whole BTC cycle, if not longer than that, accumulating BTC, and surely I am not sure whether it pays to attempt to be more aggressive during dips or not or just to keep up a certain level of ongoing, persistent and consistent BTC accumulation throughout at least a whole cycle and not necessarily holding back additional reserve funds for buying on dips...

yet, surely of course, there can be some good feelings by buying additional BTC on the various dips that are going to happen, yet in the whole scheme of things if you might have an investment time horizon that might be potentially greater than 10 years, then maybe it is not going to make too much of a difference if you bought $5k worth of bitcoin at $70k versus buying that $5k at $50k, and yeah, sure you ended up getting a few more bitcoin, but it may well may not be worth it to be holding back very much cash and hoping for a dip.. and even if you bought some at $50k, you might have also bought some at $65k, $60k, and $55k, so sure how much extra money did anyone have to buy at $50k unless you had been sitting on a bunch of cash that you had not put into bitcoin, and surely I don't consider sitting on cash (and waiting) to be a very good strategy at all, especially for newbies and/or especially for many folks who are likely already under-allocated to bitcoin.. which we already have a lot of folks in the world who are quite under-allocated to bitcoin.

Quote from: Wind_FURY on Today at 08:55:48 AM

Quote from: JayJuanGee on August 06, 2024, 11:08:58 PM

[edited out]

I believe the longer a person has been HODLing, and the lower his/her average purchasing price - he/she would have less probability to panic. That's perhaps because of simple human psychology and experience?

Think of person who bought his/her Bitcoins last cycle with an average purchasing price of $5,000 vs. a person who bought his/her Bitcoins this cycle with an average price of $50,000.

The solution for people who panic - Cold Storage in an offline computer. It will take a few extra steps to move your Bitcoin, making you not to move them at all. Cool

I am not overly excited about your theory that the mere fact of being in profits is going to necessarily cause enough difference in the level of tension that any HODLer might feel based on BTC [price drops, since if we might go further in our example to suggest that the earlier guy might have had invested the same amount, such as $25k (so he has 5 BTC), and the later guy might have invested $25k, but he ONLY has around 0.5 BTC.

The guy with 5 BTC might feel that he is starting to get close to enough BTC, yet the guy with only 0.5 BTC might feel that he needs to continue to accumulate. Maybe the guy with 0.5 BTC was similar to you in terms of his start date in BTC and he accumulated right around an average of about $60 per week in BTC since May of 2016.. and maybe he also made a few mistakes along the way (which you have also stated that you had made some mistakes along the way, too).

Sure both of these guys are in profits, but the profit levels of the first guy are so much greater than the second guy, and the first guy might even get distracted by whether continuing to buy more BTC raises his cost per BTC, but if he already has a practice of regularly buying $60 per week of BTC, he can still think through the matter in terms of whether he feels that he has enough BTC rather than thinking about the extent to which buying more BTC raises his cost per BTC.

Maybe the second guy is so much close to his cost level, so buying more BTC largely just keeps him at a very similar cost level as compared to the first guy relatively speaking, yet their ability to hold and even their continued buying of BTC (rather than selling or fucking around with trading) may also relate to the kinds of goals that they might have for themselves that also might relate to their timeline in BTC and various other aspects of their cashflow management.. And surely if the later guy had also invested around $25k into BTC, but he had ONLY been in BTC for around a year, then maybe the second guy had been buying around $470 BTC per week for the last year. and surely, he may well already be in a mindset to continue to accumulate BTC, but surely there could be questions about whether he is going to be able to continue to sustain buying around $470 per week or if he might have to make some tweaks to his budget based on various aspects of his cash management, as compared to the first guy might not feel as large of a burden to continue to buy $60 per week of bitcoin and the first guy might not even feel as much pressure to need to continue to accumulate BTC.

I suppose that I am not really disagreeing with you in any kind of meaningful way, yet there still is likely more going on in regards to the level of the conviction that each of the guys might have based partly on how they have set up their cashflow management and maybe even how they might feel about their BTC investment, as compared with other places that they could put their value or if they might even feel that it is futile to invest, and surely being in profits likely helps to reinforce the idea that bitcoin is a good place to invest, but a guy who had been investing longer might also sometimes end up getting impatient with his own desires to want to consume some of the profits of his investment.

It could be possible that at some point in his BTC accumulation journey, the first guy converted from a DCA strategy to a buying on the dip strategy.. but it also could be the case that at some point he considered himself to be out of his accumulation stage. A similar thing could have had happened to the second guy, and surely there are some guys that do not realize the extent that they might have a need to at least go through a whole cycle of accumulation before they might transition to a new level of maintenance or perhaps to allow the incorporation of other kinds of ways of managing their BTC stash.

For sure my example of the second guy could also be wrong in the sense that if the second guy might have ended up accumulating a lot of BTC in a front-loading kind of way, and if he over did his front-loading or his accumulation of bitcoin, when the BTC price drops, he might get worried that he is losing whatever money (or profits that he felt that he had in bitcoin), yet that still seems to constitute a kind of trading and/or gambling mentality rather than an investing mentality or approach. If the guy had a $100k investment portfolio, and he decided that he wanted to put somewhere between $15k and $25k into bitcoin in order to have 15% to 25% of his investment into bitcoin, maybe he ends up investing his money in a short period of time in various lump sums rather than DCA'ing, yet investing with the lump sums could contribute towards his being more nervous about his investment into BTC as compared with a guy who might have had been DCAing over a longer period of time.. and surely there are guys who might not have planned out their budgets very well who also might end up experiencing some level of panic if they might be using money that they need for some of their various expenses.

Of course, in earlier times, you had mentioned the ideas of locking yourself away from your BTC to make more obstacles to sell BTC, and I am not completely opposed to those kinds of ideas, yet it seems to me that we should already be able to have various mental barriers and even other systems and practice in place so that we are not having to physically restrain ourselves from selling.. and surely there are other kinds of security reasons that we might have systems in place to make it a bit cumbersome to get access to some decent portions of our coins.. in some sense there are likely some portions of our BTC stash that we are not transacting in or moving around, so there might not really be any need to access them regularly, even though we might want to check our ability to access them on a periodic basis... we shouldn't necessarily want to end up locking ourselves out of our coins by causing them to be colder than we had intended them to be.

Quote from: cryptoWODL on Today at 12:43:31 PM

Quote from: Popkon6 on Today at 09:54:11 AM

Investing in the DCA method is the easiest method for all individuals, as one can invest in Bitcoins without any accumulated money. It's a simple solution if you notice, anyone should be successful in investing in bitcoins but the strategies must be known.

A person with no money can play either weekly or monthly, and one can invest with accumulated money because he will only buy dips and continue to buy bitcoins using the regular DCA method. If you invest in Bitcoin in this way, the average purchase price will definitely come down. And it's the most long-term of Bitcoin holdings.

Yes DCA method of investment is easy for everyone and recommended as a balanced investment strategy. You can buy any amount of bitcoins you can afford using this method. I have seen many members of this forum and many investors who are constantly using DCA to accumulate bitcoins in their investment portfolio. While most of their investors have enough money, they are buying bitcoins in small increments for long-term investments rather than short-term investments, mainly to reduce the average cost of their investments.

DCA does not necessarily reduce your average cost per BTC. Buying on the dip does, yet DCA is still superior to buying on the dip based on the ability to adjust to your own budget rather than fucking around thinking about BTC prices. If you have a long term BTC investment plan, then there is little to no need to concern yourself with your costs per BTC as much as you might concern yourself with how many BTC you are able to buy on a weekly budget with the discretionary income that you have and the amount of your discretionary income that you want to use to buy bitcoin that week.

Quote from: cryptoWODL on Today at 12:43:31 PM

Investors should be strong enough to invest in DCA method as they can hold on to their investments without selling them even in the low season in the market.

For those who are consistently DCA, when the market goes down, there is more opportunity to accumulate bitcoins. Investors should not panic at this time and take advantage of the market so that they can buy higher quantities of Bitcoins at lower prices.

If you are DCAing on a regular basis, then you don't need to concern yourself with whether the BTC price is going up or down, and yeah you can combine DCA with buying the dip, but if you do that, then you might end up screwing up some of your regular buys and also getting off track in regards to your persistent DCA buys. Surely, each person can do what they like in terms of how they consider the various trade offs between accumulating BTC through DCA, buying on dip, lump sum buying and/or HODL for periods that money might run out.

Quote from: Asiska02 on Today at 12:52:17 PM

Quote from: JayJuanGee on August 06, 2024, 11:08:58 PM

Personally, I have my doubts that the mere fact that a person who presumptively has been in bitcoin longer and presumptively accumulated a decent amount of BTC at lower prices would not necessarily panic during various extreme BTC price dips.

Sure, there should be more systems in place that contribute towards longer time bitcoiners to figure out how to manage their bitcoin portfolio and other parts of their cashflow, yet I think that from time to time, some of the longer time bitcoiners do panic and make decently sized mistakes with some or all of their BTC holdings, yet many times, the longer term bitcoins will not be very likely to be playing around with large portions of their BTC holdings, so if they make mistakes, such mistakes would more likely involve less than majority portions of their BTC holdings rather than more than majority of their BTC holdings.

For a bitcoin holder that have held their portfolio for a long time, they must have gotten use to markets dips, up and and down and all of those panics that is being accompanied when bitcoin dips. For every time they experience that and are able to get of that zone without selling off, their minds becomes stronger and have a stronger will to hold for another when the market crashes again another time. Even when they are tempted to sell some parts of their holdings at that time, seeing how the market reverses later and they get back on profits again, they’ll learn a lesson not to sell at such times because whenever the market dips, it comes back to its form again. Having this experience will always reduce the tendency of them selling most of their holdings and rather sell a small portion of them.

Sure the longer term bitcoiner likely gains more confidence in his investment, yet I doubt that the right mindset is to presume that the BTC price is guaranteed to come back, and yeah there are likely some guys who think that the BTC price is guaranteed to come back. I was not saying that the longer term buyers conviction was in the neighborhood of considering bitcoin prices to be guaranteed to come back... yet at the same time, guys can have conviction that even includes either continuing to buy or buying on dips that might help bring action to the mix or just HODL through down periods without necessarily taking additional actions to buy more... so there might develop a certain level of confidence in BTC bouncing back, even though it might not rise to the level of thinking that the BTC price is guaranteed to bounce back... but yeah, there are some guys who might believe that bitcoin prices are guaranteed to bounce back.