Quote from: laijsica on Today at 10:14:16 AM

Quote from: 2Pizza410000BTC on Today at 01:42:19 AM

Quote from: Oshio-man on November 11, 2024, 11:48:15 AM

This is the period to sell your bitcoin, if you are still holding bitcoins in your wallet, do your self a favor to release your bitcoin because the price has increased above $82,000, I don't think it will hit the price many people are waiting to see this year which is $100,000, but it will definitely get to that price before the end of next year, do you think it will reach $100,000 this year? With my observation, this is not time to buy bitcoin from the market because the price has moved higher which will not allow people to make good income whenever they want to see in the future.

We can see bitcoin all time high of $89530 now an investor can sell bitcoin and still hold his investment but it is his personal choice. Here people will not pressure anyone to sell the investment they are holding because I am holding my investment but again I have set a certain price in myself that I will sell my investment if it goes to that price. Bitcoin's current upward momentum suggests that Bitcoin will cross $100,000 by November. You might be guessing that Bitcoin won't reach $100,000 this year, but if you look at the current Bitcoin market, you must have dispelled that misconception. I think bitcoin will touch $100000 within these few days.

When speculating on the value of Bitcoin you should avoid the tendency to focus so low as investors currently expect it to be worth $250k -$300k and you should plan your investment accordingly. If your expectations are so low ($100K) you are running into short term trading.

If you are planning on selling in less than 4 years then you are trading. it does not matter the price. You don't all of a sudden turn into an investor merely because you make your trade price higher.

You can trade if you like, that is your choice. Just don't be proclaiming yourself to be a long term investor into bitcoin if you are merely playing the wave.

Sure, you also may well end up being profitable by playing the wave... yet there are reasons why many of us discuss tradeoffs between trading and investing and why so many guys end up selling too much too soon or run into other problems by trying to trade and they would have had been much better off just buying and building their bitcoin portfolio rather than trying to figure out when to get out in order so that they can get back in.

In other words, selling is an inferior way to accumulate more bitcoin, if you are trying to accumulate bitcoin.

Quote from: laijsica on Today at 10:14:16 AM

Bitcoin has always encouraged higher holdings among investors as long-term investments and you should continue to accumulate regardless of price.

Oh? I thought you were suggesting to plan to sell in the $250k to $300k range, rather than the $100k range?

Quote from: laijsica on Today at 10:14:16 AM

Given the current price scenario, it is easy to predict how much Bitcoin's value may increase over the next few years, so you should plan your investment with the DCA method so that Bitcoin accumulates over several or more cycles and you continue to have large holdings. By hoarding bitcoins you should psychologically position yourself where the holdings are likely to be as expected.

If an investor can continue to deposit bitcoins regularly from his discretionary income then he should not feel pressure to sell as he is trying to be a decent holder besides being financially sound and he is able to continue depositing bitcoins successfully for many cycles.

Oh? So you are not planning to sell between $250k and $300k?

Quote from: Mayor of ogba on Today at 10:25:58 AM

Quote from: cryptoWODL on November 09, 2024, 03:46:36 PM

Moreover, many investors keep backup funds in their investments with the DCA strategy, essentially for buying in lump sump. When they face dumping periods in the market, they take the opportunity to buy more bitcoins with the backup funds at lower prices.

You are the only one who uses his emergency funds or backup funds to lump sum on bitcoin when there is a dip. But I want you to understand that backup funds or emergency funds in bitcoin investments are meant to buy the dip or lump sum on bitcoin. Backup funds or emergency funds are to be used when there are unforeseen problems. For instance, when you need to repair your car, you will depend on your emergency funds to fix it.

Your description of back up funds is confusing. If we are building an investment such as bitcoin, we want to try to make sure that we never have to touch the investment at a time that is not completely of our own choosing, and so maybe when we come into bitcoin, we might plan to shoot for 4-10 years or longer that we would not be touching our bitcoin investment, so accordingly, we build up various kinds of back up funds which would include emergency funds as the kind that we would be least likely to touch except if we have some kind of a loss of income or sudden expense that we are not able to cover with other funds that we have. We would spend from our other various funds before dipping into our emergency funds.

So yes there can be other kinds of back up funds that are not emergency funds that are used for a variety of purposes, including that they could be set aside for buying dips in the BTC price or various other kinds of reasons to save up extra funds for planned purchases or just to keep some extra money around to account for variance in income or variance in expenses.

The idea of lump sum is different from buying on dip. Lump sum is generally considered to be some kind of extra money that any of us might receive from time to time, and then we might decide if we want to invest right away with some or all of it or to keep some of that money for DCAing or buying on dips. Surely if we have better cashflow management systems in place, then we may well feel more flexibility in regards to how we might treat any lump sum amount that we get, yet surely sometimes if we are concerned that the BTC price might not necessarily dip, then we we might want to error on the side of investing more of our lump sum into bitcoin right way rather than either DCAing with it or waiting for dips. Of course, with any money that we put into bitcoin, if we are realizing that we are locking up that money for 4-10 years or longer, then we want to make sure that we are comfortable that it is money that we are not going to be needing, so in that sense it is good to either have good sources of income and/or various kinds of back up funds, and for sure some guys have much more erratic income and expenses, and they may well need to keep more back up funds in order to lessen the chance that they ever would have to dip into their BTC at a time that is not of their choosing, and if they already planned to invest into bitcoin for 4-10 years or longer, they may well end up continuing to buy bitcoin for those many years before changing their plan from something other than strict accumulation to either maintenance or some form of sustainable withdrawal.. and hopefully they are not changing their plan until they are confident that they accumulated enough or way more than enough so that they feel that they have extra and so at that point they are comfortable to move away from BTC accumulation and into another phase... and surely it can take normal people a very long time to reach a state of sufficient accumulation or over accumulation of BTC.

Quote from: DubemIfedigbo001 on Today at 10:55:35 AM

Quote from: JayJuanGee on Today at 07:37:21 AM

With my own forum registration date, I will frequently clarify that I started investing into bitcoin about 3 months prior to my forum registration date..,.to the extent that my own BTC journey matters to the discussion that we might be having.

If not for this clarification, I would've decided that you are Satoshi lurking around the forum in the guise of another username (like I have always thought low-key). your broad knowledge on bitcoin investment and financial management as a whole is nothing short of extraordinary. Sometimes I feel like asking you to recommend some good books that built you to me(I would be glad if you do). and......

Perhaps one day you should tell us the story of your financial up climb, limitations and lessons picked up on the way

Guys learn at their own paces, and surely at different points of life we might focus on different things that we are learning, so it seems that there are even way better of sources of information these days as compared to when I was first learning about various topics including bitcoin, yet just the fact that the internet is so widely available helps to make information more widely available and searchable, so the way that people learn tends to be different these days as compared to some of the ways that I was learning (or even what investments were available prior to my finding out about bitcoin), which is not a bad thing. .yet each of us has to combine our learning with our making of an income too in the case that we might have to earn income from work, which can sometimes restrict how many hours any of us might be able to focus on learning about bitcoin or bitcoin-related topics.

So yes, I tend to presume that most people are working simultaneously towards figuring out how to invest, and so many times a common goal will be to figure out ways to build up an investment so that you no longer have to work as much and maybe you are able to completely stop working and to earn income off of the investments that you had been making and perhaps it could take you 20 years or more to really be able to get to a place where you no longer have to work for income, and if we are no longer needing to work, then we may well still have to learn how to manage our money, and likely we even have more free time to share information, though I have real world projects too.

Prior to late 2013, I was not in the right circles to really come across bitcoin, so the kinds of work that I was doing and my other various activities did not really overlap very much with my feeling any need to look into bitcoin.

Maybe I can relate to how people might get distracted into their own circles and their own projects since if a person might not feel that they need bitcoin, they would not really spark any interest in looking into bitcoin.

Even for me, from about August 2013 to October 2013, I had been looking into investment-related matters, and I was thinking about ways that I would be able to invest into some matters that were similar to my then 401k but to supplement the 401k, since 401ks tend to be related to work income, yet i was wanting something that might be more like a hedge (something like gold), and I think that by about September or October, I had book marked some bitcoin-related topics (like tabs in a browser) that I would get to later, yet I cannot remember if I had any thoughts on bitcoin until someone started talking with me about his own bitcoin investments in about mid-November, so that conversation was what really sparked my attention about bitcoin and was really when I started to look into bitcoin beyond just having had heard the word, and so it took me a couple of weeks of studying it before I made my first BTC purchase in late November 2013.. and I created a tentative buying plan.

So yeah, when any of us start to buy bitcoin (or anything else) then we start to have more of a stake in the thing that we are investing into, and so my initial tentative plan was just to study bitcoin while investing into it for 6 months, so I divided my 6-month bitcoin allocation budget into 26 parts to represent my allowance to buy bitcoin for each week, and I figured that I would invest into bitcoin and learn about it and reassess at the end of the first 6 months what I would do from there.. which largely ended up that in about April 2014, I had authorized myself for another 6 month budget that was pretty similar to the level of the first 6 month budget, which I divided that second 6 month budget into 26 parts too.

So, yeah there can be a bit of an individualized approach that any of us takes to our bitcoin and to our learning based on where we are at the time that we are learning a topic and the extent to which we might be interested in the topic or receptive to the topic, and the extent to which we become receptive to the new idea (bitcoin in this case) and we become willing to incorporate something new into our lives, even if we might have other activities that we might simultaneously be involved in. Whenever we add something new into our lives, then it can take some purposeful effort to dedicate time and focus to understanding what we are doing and why we are doing it and the extent to which it matches up with our own interests and goals.

Surely there are not too many folks who would consider satoshi to be any kind of an investor and/or personal financial manager kind of figure, but perhaps instead satoshi seemed to have been into creating a system that attempt so address macro-corruptions of money, so that the incentives within the bitcoin system and the difficulty adjustment are robust enough as to build itself into being quite difficult to attack since game theory causes distrust of others to make bitcoin stronger in several ways. So my identifying bitcoin as something to invest into and then attempting to manage personal finances around bitcoin, seems to be a fairly superficial appreciation of bitcoin as compared to the computer and cypherpunk kind of knowledge that satoshi had.