Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
ginsan
on 07/08/2024, 21:08:03 UTC
In situations like this, it is worth mentioning that we need a strong mentality when facing sudden market changes. Therefore, I always say to prepare yourself as best as possible before starting to invest in Bitcoin. This means that you have to be able to survive all the fud, drastic declines and also be able to fight the worries that surround your mind.

I like to say.  Get the fuck started investing in bitcoin, and prepare as you go, including that the ONLY preparation that you need prior to investing into bitcoin is to figure out that you have a disposable income, and if you do, then you can get started.  Now the devil is in the details regarding how much to invest, and how messed up your cashflow management (and psychology) might be, yet if you have a disposable income, then you have the prerequisites for getting started investing in bitcoin and you should be able to figure out the various other details along the way... hopefully you are not a dummy.  I am not going to presume normal people to be dummies who are not able to figure out the extent to which they have a disposable income or not. If they cannot figure out if they have a disposable income or not or they make mistakes in terms of figuring out that part, then that's on them, and seems to be part of basic knowledge that I am going to presume that an overwhelming majority of normies already have.. even if there are a lot of dummies in the world, that's on them to figure out basics of whether they can start out with investing $10 per week into bitcoin, $100 per week or some other amount that is reasonable for their individual situation.
Really like the ideas you give and I always remember to invest with money that we never use for living needs. That way, our investment will run smoothly without burdening our daily finances. If this is properly implemented, an investor will have a strong mentality in any condition. I remember when you mentioned the reserve money or emergency cash that we set up in the bitcoin investment strategy and of course now might be a good time to do that or take the money that we set aside to buy aggressively. But it is also very true as you said that the aggressive level is timeless or we can do it if we want to execute it and basically our income stream increases at that time.

But yes, it's difficult for me to put it together correctly but I like your very directed explanation. Of course we remain Hold in whatever conditions we will face during the investment journey and of course we get a lot of good input from you.