Quote from: Natalim on September 25, 2024, 02:05:01 AM

The best thing to do is HODL. This strategy is simple, and that misspelled word carries a deeper meaning for crypto enthusiasts.

HODL only works (and applies) to bitcoin.. not to shitcoins. .. so hopefully you are talking about shitcoin and merely just trying to sound smart when you use the term "crypto.".. which in the end makes it seem that you might not know what you are talking about if you either believe HODL applies to shitcoins, or if you believe that you can interchangeably use the term "crypto" within a bitcoin discussion to suggest that bitcoin is the same thing... or more likely the other way around in some kind of implicit suggestion that shitcoins are similar to bitcoin, which they are not.. at least not in the sense of HODL.. which you shouldn't do with shitcoins unless they are a very, very, very small size of your holdings, as compared with your bitcoin stash.

Quote from: EarnOnVictor on September 25, 2024, 09:59:21 AM

Quote from: MainIbem on September 24, 2024, 04:14:44 PM

The statement of the the DCA method being overhyped might seem surprising but it's not surprising to me cause I see it as a prove to a statement I made earlier that not everyone understands the concept of Bitcoin investment. The question I've got for EarnOnVictor is that, how is the DCA method overhyped? I wonder why he'll say a method that gives every class of investors the opportunity to invest periodically overtime is overhyped.

You reasonably asked this excellent question, but if you have been reading my posts about this, it has always been answered here many times. Regardless, it is overhyped by many people here because they believe it will always work without considering the condition of the asset itself, how senseless is that? The asset (Bitcoin in this case) and its price are "supreme" here, and its nature/behaviour must be the number one priority/factor to consider and not the DCA strategy for it to work best.

Fine, the DCA approach is good, no one is disputing that, it averages the risks and gains but telling me to apply it blindly as JayJuanGee and many others are preaching is gross to me.

The reason that yours truly (and likely several others here) are suggesting to just buy blindly is because none of us have hardly any clue which direction the BTC price is going to go in the short and/or the medium term and we also have difficulties knowing if the BTC price is at a top, bottom or somewhere in between, so in that regard, we are much more likely to be better off to just buy BTC regularly, consistently and persistently rather than trying to be smarter than we are including ending up employing waiting strategies that may or may not end up paying off... and also since bitcoin is amongst the best, if not the best of investments currently available, an overwhelming majority of us are likely going to be way better off to continue to accumulate it no matter the price rather than fuckign around trying to figure out which way the BTC price might or might not go..

Surely after several years investing into bitcoin and perhaps learning about bitcoin and perhaps even studying various bitcoin price charts, some of us might begin to become more comfortable to start to be able to deviate away from a more strict persistent and consistent DCA approach.

Quote from: EarnOnVictor on September 25, 2024, 09:59:21 AM

Quote me anywhere, there are situations where the DCA approach will fail you for years and other investment approaches will help you out unless you wait (patience),

Are you suggesting to wait right now?

Quote from: EarnOnVictor on September 25, 2024, 09:59:21 AM

this is why investors should not be static like many of them preach.

It seems to me that employing a waiting strategy is a form of being static.

Quote from: EarnOnVictor on September 25, 2024, 09:59:21 AM

You can wonder those who believed in the DCA approach buying Bitcoin at $68,000 in 2021 with no regard for the asset condition/chart/behaviour at that time, tell me, 3 years after, are they still in profits? No, what investment plan is that? This is practical!

We already went over this scenario. Surely the ones who bought at $68k and then just sat around for 3 years, they would be flat, yet the person who continued buy would likely be around 85% profits (of course, depending on particulars in terms of when such person got in and also if they lump sum invested at the top, too).

Quote from: EarnOnVictor on September 25, 2024, 09:59:21 AM

All I preach against is not for people to use the DCA, but before using it, try to learn the prevailing market conditions to be careful and avoid tying your money somewhere unprofitably.

You are suggesting to wait from time to time rather than continuing to buy, which might mot be a very good idea for a newbie who needs to build his bitcoin stash.

Quote from: EarnOnVictor on September 25, 2024, 09:59:21 AM

These guys are only following what they read and watch online,

You want them to follow you instead? Then what? They probably will spend a lot of time waiting rather than buying.

Quote from: EarnOnVictor on September 25, 2024, 09:59:21 AM

some of them are only lucky one way or another thinking they know investing, but they don't.

You probably are the one who does not know the power of persistence in investing rather than fucking around with either trading or trying to be smarter than the market.. which does not frequently play out as well as the investor.

What kind of a time line would you like to make in terms of whether you would have had been able to beat an DCA strategy in bitcoin... Anytime greater than 4 years, you are going to have a hard time beating that, and then you end up wasting a lot of time fucking around.. and scared like a little kitten in the corner.

Perhaps like this?

Quote from: EarnOnVictor on September 25, 2024, 09:59:21 AM

I wonder how someone would want to DCA with disregard to other market factors if not for their low knowledge of it or being a newbie in it.

DCA works for a lot of people, including allowing them to be active to ongoingly be investing within their own financial and psychological means, while at the same time, they can study into bitcoin and figure out if they might want to deviate from such strategy.

In the other words, it is better to use DCA as a default means to ongoingly build a position rather than starting out fucking around trying to guess if the bTC price might be going up down or sideways.. when newbies (and even folks 4-6 years into bitcoin) are going to have little clues about that. I mentioned before that I have been watching bitcoin charts for nearly 11 years, and I hardly have any clues about which way the bTC price might be going in the short to medium term, so why would a newbie be able to know more than me in that regard?

Quote from: EarnOnVictor on September 25, 2024, 09:59:21 AM

If DCA is that perfect, I wonder why big companies are contracting their investment management to brokerages and other investment firms, they should have just DCA at any price and continue to gamble away their money.

Actually you are correct that big companies and others who use investment managers would likely be better off just DCAing into BTC; however, some folks feel more comfortable using an investment advisor, and some companies are required to use an investment advisor based on custodial requirements, but those folks using investment advisors surely have not been beating bitcoin's performance in the past 6-12 years... especially any bitcoin investors who have been mostly erroring on the side of ongoingly buying BTC and holding (those not trying to trade and/or sell their BTC, except perhaps spend and replace). There are hardly any investment advisors who have been able to beat the performance of a BTC DCAer over the past 6 years or longer.