Quote from: Frankolala on Today at 10:27:48 AM

Quote from: Egii Nna on Today at 05:27:53 AM

Quote from: DiMarxist on August 11, 2024, 09:36:21 PM

If you are investing for Bitcoin for long term, you don't have to check the price daily or weekly just save your seed phrase in a good secure place and delete the app from your phone. And you can check the price just once a month.
Or set alarm to receive the price of bitcoin whenever there is fall and rising. And when the price down then buy more to fill the wallet.

Did you just say delete the app? To me, that is not the best solution to keep your bitcoin for a long time. Expect if you find it hard to achieve your goals due to a lack of patience or fear of losing. There are two things to apply. Even when you find it hard to be patient about your investment or you always have the fear of losing in you, all you need to do since you are investing for a long time is just to fix a year, time, and date that you will like to withdraw, and when the time reaches then you can see if your profit is there or not. That is what I call achieving your target the negative or positive way. The most important part is don’t be afraid of losing because you know the risk and you wish to join.

One year investment is not a long-term investment but a short-term and that is when you might run at loss as a trader when the market goes below your entry point. Long term investment means investing for at least once bitcoin circle and above for example 4-10 years and above with your regular DCA buying to increase your bitcoin portfolio overtime.

It seems worth noting that if a guy lump sums into bitcoin, then his 4-10 year or longer timeline starts from the time of the lump sum amount.

Yet, if someone is continuing to invest in a DCA style for 4-10 years or longer, then surely his investments are going to continue to pass over the minimum of a 4-year timeline, which should be the case for any new money that is injected into BTC.

Surely any BTC investor should be able to account for his investment timeline continuing to be 4-10 years or longer for any new injections of capital into bitcoin, yet at the same time, guys have complete discretion regarding how to treat their bitcoin investment, including when they consider that they have accumulated enough or if they might change their BTC accumulation strategies or if they might transition into more of a maintenance stage rather than an accumulation stage or if they might at some point consider themselves to have had transitioned into some kind of a withdrawal system, hopefully sustainable withdrawal systems that might be price based and/or time based, yet again, guys can come to their own assessments in regards to why they got into bitcoin and/or their considerations in regards to whether they might try to stay in bitcoin in long term and/or ongoing ways versus getting out completely and buying a lambo with their bitcoin money (which seems dumb, but some guys do dumb things, even with pristine assets, like bitcoin).

Quote from: Frankolala on Today at 10:27:48 AM

There is no one that will plan to achieve a negative target because we are all investing with positive mindset to make profit in the future.

That is true. We are likely investing into bitcoin because we believe that it has decently good odds of providing us greater options in the future (such as 4-10 years or longer) to be in bitcoin rather than not being in bitcoin.

Quote from: Frankolala on Today at 10:27:48 AM

Quote from: Egii Nna on Today at 05:27:53 AM

deleting the app will make you want to withdraw your money when you see a higher loss or when you have an emergency, so to me, that is not a nice idea.

You will only sell your bitcoin because you didn't use the right amount of your discretionary income to invest in bitcoin or you don't have an emergency funds available to take care of a real emergency when it happens or because you are a trader and not because you deleted the wallet app. However, if your investing with DCA, you need your wallet. You will only run at loss when you sell your bitcoin but if you don't sell it, your bitcoin portfolio will recover.

Surely, bitcoin is not guaranteed to recover or to be profitable, and surely some folks get in and out of bitcoin because they cannot resist the idea of taking profits and consuming, so surely, historically bitcoin have shown the short term players into bitcoin that they likely would have had done way better by figuring out ways to stay in bitcoin for longer periods of time rather than merely focusing on short-term profits. There are going to continue to be a lot of folks who fail/refuse to appreciate bitcoin for its longer term potentials... and so yeah, those are discretionary choices in which some folks will do better than others in regards to how they invest into bitcoin and the extent to which they choose to hold and/or maintain their BTC holdings into longer term periods, such as 4-10 years or longer from whichever time point they are considering and/or reconsidering their BTC approach going forward.