Quote from: Ishicryptic on Today at 09:43:38 AM

Quote from: JayJuanGee on January 21, 2025, 09:24:36 PM

[edited out]

Reading through all the quotes on this post, what I can sum up is that if a newbie has equipped himself with the correct knowledge of how Bitcoin circle works, they don't need to wait till we enter bear run when price has dip because when it's bull run price will always peak and touch new ATH.

If you are going to sum up a post, there is some value in getting it right, and surely I cannot imagine myself proclaiming that bitcoin will always make a new ATH.

On the other hand, if BTC does make a new ATH, then by definition everyone who bought previously would nominally be in profits as long as they only bought and did not sell. Sure with nominal values we still could have problems about the debasement of the dollar that might end up causing the real values to NOT be in profits.

Quote from: Ishicryptic on Today at 09:43:38 AM

For people who are in it for the long term there is no reason to worry and speculate when Bitcoin will rally because they know it's potentials to always skyrocket during it's bull circles.

You are not good at summarizing, even though we know historically bitcoin has had a lot of volatility and bitcoin has generally trended up. We can also assign probabilities that in the future bitcoin will tend to skew upward and it has pretty high chances of continuing to be quite volatile, including in the upwards direction, even though the direction of the volatility is not guaranteed to go up... or even to "always" skyrocket... but sure it is not unusual for bitcoin to have great price moves in either direction and even if we cannot expect them to be guaranteed to happen, we could still accept them as a kind of common dynamic in bitcoin.

Quote from: Ishicryptic on Today at 09:43:38 AM

That is why DCA method comes highly recommended for people who thinks that they are not moneybags that can turn to whales and accumulate enough stash all at once,

DCA works for everyone, yet sure there are folks who have a lot of money, so they would have more options, even though DCA might work quite well for them both in terms of supplementing other strategies (such as lump sum and buying on the dip) and also in terms of easing into a position, whether it is spread over a relatively short period of a few weeks or spreading out their easing into a position over a year or more.

So sure, people with more money and more discretionary income have more options, yet even poor people still could end up building up various money management systems in which they are able to use all three buying options, even though with poor people it sometimes could take them several years to really strengthen their cashflow management, yet even with smaller amounts they could potentially practice with the other strategies, even though surely it makes less sense to be dividing $10 into smaller categories as compared with dividing $500 or more into smaller categories.. yet even a poor person could still divide his $10 per week into the 2 categories of buying right away with one of the categories and then saving the other one up for buying on the dip.. and I would not really recommend saving to buy the dip when the amounts are so small.

We could imagine that a person still might be poor, but ever once in a while he gets $500, so then he ends up dividing that $500 into three categories of 1) buying right away, 2) dca over a period of time with a certain amount and frequency and 3) buying on the dip and figure out how much of a dip and how much for various parts of the subdivided amount... and yeah, it is way more powerful to be able to work with larger amounts, yet someone who practices, and tries to be somewhat practical with his practicing, he will likely be in a much better position to practice with higher amounts if all of a sudden he is surprised and he received a $500 bonus, then his prior practice helps him to be in a better place to think about how to allocate his $500 bonus in a way that is comfortable to his situation.. and if for example, the guy has $200 per month of expenses, yet up until that point he had not quite gotten his emergency fund up to 3 months, which would be $600, and he had only built up about $430 in his emergency fund, so maybe he would be comfortable to use the $170 to buttress up his emergency fund, and perhaps put another $100 in an additional back up fund, and then figure out how he would be treating the remaining $230 in regards to buying right away, DCA and/or buying on dips. There is no one right answer, yet a guy who practices will get better at making those kinds of decisions and even being able to know why he is making the allocation choices that he is making.

Quote from: Ishicryptic on Today at 09:43:38 AM

there is no genuine excuse for somebody that earns decent income not to accumulate Bitcoin.

A lot of rich people take their income for granted, so they might not necessarily see any compelling reason why bitcoin is needed, and they might even believe that various prices are going to come back down, and/or their salary is going to largely keep up with increases in the cost of living... they also might see problems with the money, but they might not consider bitcoin as the solution, especially since they might not even know the difference between bitcoin and crypto... so we cannot take for granted that anyone is going to consider bitcoin as a solution, even if they might have some concerns about their income keeping up with prices.

Another thing is that a decent number of rich persons might have retirement funds and even they might consider that they are going to put money into buying residential property, so they could end up getting trapped into making choices that might not leave them a lot of extra money.. so if their contribution to their 401k (retirement fund) (maybe up to 10%of their income) and their mortgage payment (maybe more than 35% of their income), and so if they might have other expenses like a car and some other things they consider to be basics, they might feel that they don't really have any more money for investments, especially if they might be considering that they are already getting close to 50% when combining just the 401k and the mortgage payments.

The arguably rich person could spend 10 years or more making various payments.. oh yeah, student loan debt too, and then considering that they are making progress, reducing their debt and even making investments into a 401k, so then they had not even considered bitcoin as part of their investment formula.. not even some small amount of their income dedicated to bitcoin, and perhaps the poor person does not have any of these obstacles, even though a poor person still might have rent, utilities, transportation costs and food that cost him 70% or more of his income...and the poor person might not even consider that he can own car, yet surely he might want to get a car or a motorcycle.. which could also be practical yet the poor person would not end up buying any kind of fancy car/motorcycle as compared to the rich person who might squander away value on car payments and to show status, even though the rich person might consider the new car and the house that is more than he can afford (since it is also "an investment") as a kind of basics.

Quote from: Ishicryptic on Today at 09:43:38 AM

From my little research I found out that many newbies are waiting for the perfect time to start buying when Bitcoin will probably dip to $40k and below but they fail to understand that they can wait an entire circle and it won't happen, time waits for no man.

Some people become way too unrealistic, and we are likely realizing in the last month or so that even sub $85k is no longer very realistic... Sure it could happen, yet guiding your entrance into bitcoin based on unrealistic expectations remains a bad (and likely destructive) mindset, and surely buying at any price will likely help to transition someone out of such a mindset, so even if any of us might have bought high, we likely can just continue to buy for 4 years or longer and end up way better than anyone waiting, even if the BTC price might end up dropping... sure it might.. but it might not... and in the meantime, the newbie who starts buying is getting started and putting himself in a better mindset in regards to bitcoin accumulation and bitcoin investing for 4-10 years or longer..even if he might ONLY be able to start with $10 per week as he is trying to figure out other details related to his own finances and psychology.

Quote from: Ishicryptic on Today at 09:43:38 AM

Nobody can manipulate Bitcoin price on the long term so buy anytime that you have the money,

You are probably correct... The longer the timeline, the harder it becomes to manipulate bitcoin, and surely over the years, we have seen repeated manipulators getting reckt when they get on the wrong side of bitcoin.

Quote from: Ishicryptic on Today at 09:43:38 AM

stop speculating the perfect opportunity, unless you want to take profit on the short term.

Sure you can trade bitcoin (and attempt to trade bitcoin) and potentially be profitable, yet it seems a bit retarded to be trying to trade such a great asset like bitcoin.. but yeah, sure people can do what they like, even dumb things like trade/gamble with bitcoin.

Quote from: Ishicryptic on Today at 09:43:38 AM

I don't worry about people who are still skeptical about Bitcoin in 2025, or those that are not internet compliant, Bitcoin is a moving train, whether you are on it or not, it's moving and those that have made the decision to hodl are getting returns on their investments. This fact is obvious as more people are becoming aware of the transparency of the blochchain and the testimonies of people that have gotten rich through their investment returns. Bitcoin adoption is increasing and the sooner that people that are not on it realizes it the more profitable it will be for all of us in the future because it's finite supply will always create scarcity which will make it's price to always reach ATH.

Again bitcoin is not guaranteed to reach any more ATHs, yet your overall idea in this part about starting sooner rather than later seems to be on point and correct.. so in that sense, the sooner that people get started, the better, and at the same time, it can take a while for anyone whether poor or rich, to build up a decent bitcoin position. Sure rich people have advantages, yet sometimes rich people might be distracted by their own positive circumstances, so their could well be instances where poor and bitcoin-focused people end up building up way greater bitcoin stash sizes over 4-10 years or longer before some of the rich people even realize that what they are doing is not really getting them anywhere and they might not even be able to catch up with the poor person's BTC stash size by the time they recognize and appreciate that they should be including bitcoin into their investment portfolio (and investment strategy).