Quote from: Y3shot on Today at 12:02:11 PM

Quote from: Mayor of ogba on November 14, 2024, 05:36:24 PM

Quote from: Ivystar5 on November 14, 2024, 10:32:04 AM

This thread is now on its 600 page

It has been nice gathering some good knowledge from this thread.

Bought the Dips and Hodl, and still hodling and will celebrate at 100kish price.

Y'all don't forget the concept of the thread be a hodler

Even though this thread title is about buying the dip and hold, that doesn't mean you should be focused on accumulating bitcoin in a dip, which will delay your bitcoin accumulation journey because you are not certain when a dip will happen. Since you are just starting to accumulate bitcoin newly, it will be better if you are more concerned with accumulating bitcoin with the DCA strategy, which will allow you to consistently accumulate bitcoin right away whenever your discretionary income is readily available. The DCA strategy will allow you not to time the market to accumulate bitcoin when the price drops, which will be an advantage to you because you will be accumulating bitcoin even if the price is increasing or decreasing.

Waiting for the dip to buy bitcoin means one is not yet ready to invest bitcoin because you might keep waiting not knowing you are just wasting opportunity. In bitcoin invest just try to grab the opportunity you meet everyday if you can, you don't need to wait to invest. Waiting for the dip to buy bitcoin is a big lose but people don't know this. Invest in DCA method now and earn a better profit in the future that is what matters. The market does not wait for anyone or give assurance to anybody to anyone to wait for a dip that will be favourable to buy in the future. Waiting for dip is a mistake that people are not even aware of but thinking they are taking good investment decisions on when to start.

I largely agree with your position Y3shot, and getting started is one of the main things that any BTC investor needs to do, and to figure out some kind of a balance, so sure, if he figures out that he has around $200 per week in discretionary income, he might not want to spend all of his discretionary income buying bitcoin, so he might figure out $50 per week while he is sorting out some of the particulars in regards to how aggressive that he is able to be in regard s to buying bitcoin, and perhaps investigating if he has any other money that he can bring to the table for his initial start into bitcoin. Otherwise if a newbie comes to bitcoin with a lot of uncertainty in his own finances and psychology, then he is likely going to need to start more conservatively while he is figuring out and/or organizing his own personal circumstances... so then thereafter, he is able to figure out an appropriate level of aggressiveness or whimpiness that he would like to employ in regards to any bitcoin position that he might choose to take... which surely it should not take much if any time to figure out if a guy has a discretionary income or not, and if he has a discretionary income, then he is at least able to invest into bitcoin, and so in that process he still will likely need to work out the details in regards to what he is going to do... and it can take a bit of time also just to figure out bitcoin sourcing, even though many people have exchanges around the world, but there are still some places that it is difficult to set up or figure out exchanges, and also there may be places in which there are not very many people in the community to meet either, which could be another way to get started by going to some bitcoin meetups and hope that they know about bitcoin rather than promoting shitcoins.

Quote from: Promocodeudo on Today at 11:14:24 AM

Quote from: Rabata on November 14, 2024, 08:03:31 PM

Before I came to know about this thread I used to focus on trading Bitcoin rather than holding but it brought me loss rather than profit. I was very upset. Because I was short of money at that time. But I was able to completely distance myself from Bitcoin trading when I realized that holding Bitcoins is needed. Moreover, I have also realized the suggestion of using DCA strategy for those who cannot afford to deposit bitcoins or whose financial situation is not so good. DCA is not only for an ordinary investor but anyone can hold bitcoins following this method. I also got a better idea about DCA through this thread. Many may only look for dips but what I realize is that as my accumulation increases I will be ahead of my expectations.

I believe this thread is 600 pages long and will be more. This thread is very helpful for getting success from Bitcoin. Those who will positively consider the suggestions in this thread I think will definitely be able to become profitable with Bitcoin.

Buddy am very happy that you retraced your step due to the information you got on this particular thread, some person don't read in between lines here, they concentrate mainly on what the topic is saying which may be deceitful without knowing the detailed discussion in the thread, though your previous loss may be as a result of lack of information, understanding or inability to understand that Bitcoin is a long-term investment that has to do with gradual process not a kind of quick money making venture though I wouldnt really blame you much it may be because of your mindset before you started, Bitcoin is not gambling stuff, it's also good that you have tasted that trading part and i believe as it stands now you can differentiate which is better between bitcoin investment in a long-term and trading which is seen as a short-term investment.

Surely the title of the thread is a challenge, and I doubt that the title should change merely because posts within the thread have been constantly challenging the premises of the OP and to suggest that buying on the dip is only one of three strategies and it is likely less superior than DCA and/or Lump sum buying, yet buying on the dip and HODL do surely have their places.

Perhaps we can learn from the title that we need to do our own thinking in terms of figuring out the extent that these kinds of practices fit into where any of us might be in our bitcoin journey.

Even the thread was created in early 2019 which was in the midst of a BTC price run, which surely price runs can be trying times for anyone who had not already established their BTC position, and they might not know what to do if they had already been DCAing, whether they should stop or continue to buy even though the BTC price was then going up. We seem to be in similar kinds of times now, yet each time we can never know where the BTC price is going to go while we are in it.

Quote from: Promocodeudo on Today at 11:14:24 AM

The best decision you have taken is distancing your self as you said from unrealistic goal that's capable of running your investment plans, you advised yourself wisely by taking the path that will secure your future as a bitcoiner, I somuch believe that you have started doing the needful by now and hope to see you at the top in the future.

Yes the thread is extremely needful and helpful at the same time and our mentor @JayjuanGee has been doing the best he could to always straighten out heads when we want to make mistakes in Bitcoin investment, as for the thread, It will definitely continue because many people are topping into Bitcoin investment and I believe such perons will be needing the advise of all that have undertood the concept of Bitcoin investment to enable them do the right thing.

Surely this thread has had a long life and it has become a pretty popular thread, even though like you mentioned on the surface, the title can cause newbies confusion regarding what to do, and perhaps the message is to think for yourself and to figure out your formula, especially since if you are brand new, then you are not likely going to be very well served by coming to bitcoin and employing a waiting strategy - which buy the dip seems to imply, even though it also could imply that if anyone has been buying BTC for a while, then they better seriously consider buying more when the BTC price dips, yet I even tend to question the trade offs of such a strategy of holding back value to buy dips for newbies, especially for newbies who may already get into bitcoin and start to try to buy every single week, but if they are new to bitcoin maybe they only have a few months, at best buying bitcoin on a regular basis, and surely our own length of time and how many BTC that we are able to acquire (and other aspects of our own personal particulars) is going to help to inform us what to do.. yet the very first step is to get started and establish a regular BTC accumulation process and to make sure that each of us understand what is the extent of the budget that we are even ready, willing and able to work with in regards to buying bitcoin regularly.

We have to look to ourselves whether we are going to first get started and to establish a BTC buying practice, and if we can get ourselves past that very first stage, then we have to figure out how whimpy or how aggressive we are going to be or if we are going to try to employ some kind of an in-between BTC accumulating practice while at the same time we might be sorting through our own budget parameters and really getting to know how much we have to work with, especially if we come to realize that we are stocking away the BTC for 4-10 years or longer - that is if we are planning to invest into bitcoin rather than trade it, and we might not even be sure that we are able to commit to investing into bitcoin rather than trading it, even though with much discussion and thought, many may well come to realize that bitcoin is a better investment than it is a trade, even though in the beginning of our learning about bitcoin we might not be able to understand and commit to bitcoin on those kinds of investing terms. I don't know how anyone can expedite the process of learning and/or becoming familiar with bitcoin and even coming familiar with themselves and their particulars without going through the process, and surely bitcoin is only part of what they have to learn, and if they already know themselves and their budget well, then they are going to be further ahead as compared to the one who might have messed up finances and psychology, since learning about bitcoin is ONLY one part of the formula for figuring out how large of a position to take in bitcoin, if any, and if so, how to get to that BTC position, as a kind of ongoing process that takes a lot of time, even for someone who is already well-organized in his finances and psychology.

Quote from: Mayor of ogba on Today at 12:33:57 PM

Quote from: Rabata on November 14, 2024, 08:03:31 PM

Quote from: Ivystar5 on November 14, 2024, 10:32:04 AM

This thread is now on its 600 page

It has been nice gathering some good knowledge from this thread.

Bought the Dips and Hodl, and still hodling and will celebrate at 100kish price.

Y'all don't forget the concept of the thread be a hodler

Moreover, I have also realized the suggestion of using DCA strategy for those who cannot afford to deposit bitcoins or whose financial situation is not so good.

Accumulating bitcoin with the DCA strategy doesn't necessarily mean one has a shitty source of income; even the rich utilize the DCA strategy when they are investing in bitcoin for the long term. The main reason why most people adopt the DCA strategy is because it helps to control emotions.

Sure DCA can help you control emotions since any of us can tailor the DCA to the level of the budget and the level of aggressiveness that a person would like to be within their budget and their discretionary income.

Mistakes can still be made, so a person might have to employ DCA for several months and to kind of adapt how aggressive he wants to be in regards to the DCA and to kind of learn about his own finances and psychology while ongoingly doing the DCA and adjusting it, and perhaps there might be more adjustments in the earlier stages of buying bitcoin, and perhaps the longer a person DCAs and the more BTC that is accumulated, then there might become less of a s sens of a rush to continue to DCA aggressively and then maybe to establish a more modest DCA amount that is a bit more regular - yet on the other hand there might be some folks who start out DCAing in a modest way (perhaps even a bit whimpy), but then as they DCA for a while, they might come to realize that they had been being too whimpy and they might want to adjust their DCA style to become more aggressive.

Quote from: Mayor of ogba on Today at 12:33:57 PM

Quote from: Rabata on November 14, 2024, 08:03:31 PM

I also got a better idea about DCA through this thread. Many may only look for dips but what I realize is that as my accumulation increases I will be ahead of my expectations.

Even though you are not concerned about accumulating bitcoin when a dip happens, there is nothing to be worried about because the DCA strategy gets you covered. Since the DCA strategy allows investors to accumulate bitcoin right away when their discretionary income is available without waiting for bitcoin to drop, it also allows investors to accumulate bitcoin even when there is a dip because their weekly or monthly discretionary income can be readily available when a dip happens.

I think DCA weekly works better for relieving psychological tension in regards to trying to time DCAs for dips, yet I understand that some times there are going to be members who have difficulties figuring out how much of their money they can allocate towards their DCA, so they might ONLY be able to employ their DCA monthly, so surely the more income (or the more discretionary income) a person has, then the more they will have various categories of money to work with, and surely it also seems that the longer that any of us are in bitcoin, then the more we would be building up various kinds of cash reserves and more able to structure something like weekly DCAing, yet it is still difficult to talk on behalf of what the particulars of the finances of any particular member, so each of us has to figure out ways that we are able to manage our DCA amounts and our frequencies based on budgets, which hopefully we are also able to improve those kinds of cashflow management matters the longer that we are in bitcoin... and of course, guys with lower incomes have more challenging situations, and perhaps their strongest of solutions would be to figure out ways to increase their income or cut their expenses, and if their income is already really low, then the answer should be figuring out ways to increase income.. and some guys might not be in a position to be able to increase income, so they have to work with what they got.. which might mean that they are just not able to buy much bitcoin based on their finances..

Quote from: Sticky Bomb on Today at 02:10:00 PM

Quote from: Sim_card on Today at 01:44:41 PM

[edited out]

I am not going to only concentrate on building backup funds, I plan building it alongside my accumulation journey, so I don't see any time wastage in my activities. Like you said when I am done with building my backup funds in two months time from my projection, I would merge the percentage for emergency fund building with that of accumulation and channel it to accumulating bitcoin for as long as it takes me to arrive at my accumulation target. My aggressiveness is somewhat moderated in order not to overdo it and wear myself out in the process. Everything is properly planned out.

I am fully prepared, got an extra job which I do only four hours a day for the sole purpose of my accumulation journey so you can guess that my mind is sealed on this course. I would continue learning and growing my investment mindset and with time I would probably do better.

Well based on your forum registration date, you have a little than less than 10 months here, and I wasn't quite sure if you might have had been shitcoining prior to registering on the forum, and sure maybe that back history does not matter so much as compared to what you had learned from it and you might know about some areas that you want to be careful in going back to. Sometimes it can be difficult to shake some of the bad habits and also to figure out the difference between bad habits and good habits, because frequently we see that guys claim that they have gotten rid of their bad habits but then they end up reverting to some of their old bad habits, so sometimes just putting into place good practices is not enough unless you are continuously figuring out ways to reinforce the good habits, yet while at the same time trying to be yourself and to be comfortable that your chosen path is your own (at least you might model from someone else, but you should be attempting to make your path your own at the same time).

So, yeah, it sounds correct that as you get used to putting your plan into practice, you may well be able to become more and more aggressive in your accumulation of bitcoin after you have put various back up systems into place, and truly you should realize that your back up systems might not end up getting tested during good times, and so sometimes we might not really know for sure if our backup systems are strong until tough times come and also there might be guys who make their mistakes right before the bad times come, so that their various back up systems might have had been working well and were strongly in place, and then they end up screwing up the whole thing because they get greedy and they end up taking chances beyond what they should have had done.

Surely also there are sometimes where any of us might make some mistakes along the way where we don't make as much money or we take a chance on something and we lose money, and probably there are no problems with those kinds of little experiments as long as we are not risking large portions of our BTC portfolio or other aspects of our cashflow management systems... and of course, even if we have some winning or losing little side strategies, if we are mostly building and we are not really losing very much and we are not getting taken out of the game, then we should still be able to be content with our BTC performance and/or our overall performance including sometimes our rewarding ourselves along the way and even sometimes using money to build our relationships, while we may well still stay focused on our BTC investing at the same time.