A long-term Bitcoin investor has many dimensions of his personality, such as finding the ideal strategy, observing market volatility, choosing the right time and mastering effective trading strategies.
all these concepts you've outlined doesn't really play a great part in your long term investment, they might be necessary in some instances but you just have to have basic knowledge on them and proceed to investing without necessarily being stuck with them. For instance,
Finding the ideal investment strategy doesn't require much time to identify one and like it's been said over and over again, starting off with a DCA amount is a good way at the entry level and even when you've stayed long, you will still discover that buying with the DCA methord is still the best way to go.
Volatility is a nature of Bitcoin so you just have to come to terms with the fact that thier will by different market conditions at different times but those are not reasons to slow down on your investment or try timing the market for best buy period.
mastering the best time to buy is not something anyone can assume to have known even if they've stayed long in the Bitcoin ecosystem. The market is not one that's fixed by anybody so the best speculation might end up being false which is the reason why the DCA method helps conquer those kind of stress.
Trading should be totally out of the plan as long as you're investing for the long term except you want to remain almost stagnated for a long time.
The simple and most important routine is to set up a DCA plan that incorporates a place for an emergency fund and ensure that you stay disciplined enough to follow it up to the latter. The rest of your decision will come along your investment journey.
I agree with you here. When an investor is ready to start an investment finding a suitable strategy shouldn't be difficult because it just have to suit is investment goals. It it does that should be the investment strategy he needs to know. No need waiting and surfing the internet for a better strategy. The way investment is right now i can say DCA is the only comfortable strategy to start investing in Bitcoin since it helps reduce risk and boost consistency in accumulation. Although a different investor might come out and tell you that Lump sum and buying on dips is their favorite. And we cant do anything about it because that has worked for him to achieve his investment goals. But one thing i have realize is that every investor should know when to shift to a different strategy when there current strategy is not working properly for them. There is nothing wrong with that because the main ideal vision of our investment that we rich our goals and gain our profit no matter how long we want to hold on to our investment. Meanwhile we can actually stick to one strategy only if it keeps working for us. But then you never can tell what may be the outcome of Bitcoin tomorrow or next, or even in a year time. And that whether to adapt to a new strategy would favor our investment.
No, I never said it's a Ponzi "Scheme" with an entity on top running the "Scheme". Get the whole context. Bitcoin, like Gold, is a naturally-occurring Ponzi. It's simply a market that was boot-strapped by a community that values the asset.
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BUT, Bitcoin does have technical features that ARE VALUED especially by some groups of people that are in need of censorship-resistance.
Obviously,
you are being sarcastic and I understand it clearly.
I'm not being sarcastic. Bitcoin is like Gold - it's a naturally-occurring Ponzi. But it's NOT a Ponzi "Scheme" with a nefarious entity on top trying to scam people. It simply means that a market developed around something that was adopted and which is valued as an asset class.
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Plus as a decentralized, censorship-resistant asset that could give its users some self-sovereignty, it SHOULD be valued.
As for this i do not want to speak about it anymore. Bitcoin is like digital gold and they are no Ponzi scheme