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Quote from: Viktor winer on March 05, 2025, 02:23:14 AM

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Quote from: Viktor winer on March 04, 2025, 09:42:29 PM

My question is can I be able to buy bitcoin now that the dip has occured.i need to understand how the market works and how to get started although I have not invested online before I mean bitcoin investment,

Hope this is the best time for me to buy bitcoin?

The best time to buy Bitcoin is now. Not in situation where market is at the dip nor the price of Bitcoin is having a good rally thru the bull run effect.

You are making things became more complicated if you always catch those volatile movement of Bitcoin. That's why better to think about better approach with it so that you can less get pressure on accumulate and can look forward to last long in this type of investment.

Bitcoin is not for short term so hopefully you understand the risk and other consequences so that you will not get distract by Fuds in the market.

So better start with your investment now by buying Bitcoin and learn DCA.

I will check mate my self and to think very well with this Bitcoin investment,I believe little by little will help me on this Bitcoin and I will make sure I learn the DCA just as you said.

Thank you very much.

If you want to invest in bitcoin, of course you must first learn how to do it step by step so that your bitcoin investment goes well.

I personally would suggest you to learn about wallets first. Because if you don't understand this, I think it will be a problem. Because a wallet is where you store the bitcoins you have. So don't store the bitcoins you buy on the exchange, because it is very risky. That's why I suggest you learn about wallets first. Then if you already understand about wallets, then you can buy bitcoins on the exchange and send them to your wallet. Also, don't forget to be more careful when you are going to send your bitcoins to your wallet. Because if you make a mistake with just one letter when you enter your wallet address, of course it will result in your bitcoins being lost. That's why when sending bitcoins to the wallet you have to be more careful.

A brand new investor like Victor winer does not need to learn about wallet first before starting his bitcoin investment, because it's not part of the basic knowledge of bitcoin. Wallet can ne very technical for a brand new investor to understand and to know the best wallet that is safe for him. It will be a waste of time because he can get started into investing in bitcoin and learn about the wallet he feels is best safe for self custody to him.

However, as a new investor who is using DCA method to accumulate bitcoin, he needs to buy his bitcoin every week and keep it in an exchange for the amount to accumulate up to $500 and above before he should transfer to his self custody wallet in order to avoid to many small small UTXO in future, so that those small UTXO don't end up eating all his profits in future when transaction fees are very high.

Getting started and learning more about bitcoin while you are investing is the best way to go about investing in bitcoin as a no coiner since you are investing in a long-term. As you are DCAing, you're learning at the same time.

If for example Viktor Winer did DCA with a small amount of money, I also agree that the right action is to store his bitcoins on the exchange first so that the bitcoins increase and after they have collected more, then the bitcoins are sent to a personal wallet. But why am I here saying that you should learn first before jumping into bitcoin investment. Because in my opinion, learning about bitcoin (wallets, exchanges, and how to send them) does not take long, maybe only a few hours or even a day, you will definitely be able to understand it immediately. So what's wrong with that, because in my personal opinion, every thing that we will do needs to be learned first even though it's not much. For example, how Victor Winer could send the funds he had to the exchange if he didn't study it first. Of course, all of that needs to be learned first when we are going to enter a realm, including when we are going to invest in bitcoin. Because even though it is true that learning about bitcoin can be done while running it. But still sometimes there are mistakes that may not be avoided. Unlike studying it first, it is certain that our potential to get caught in a mistake will definitely be smaller. Because basically the knowledge has been studied first.

One thing that you should understand is that, in bitcoin investment pratical is the best and not theory. I believe that you have already understood more about wallet and that's why you are saying that's not difficult, and one can learn it within few hours. For a newbie who has zero knowledge on bitcoin, wallet can be very complicated for him which he needs time to learn it. Was it the first time that you learned about wallet that you understand all what you know now. No, because you are to learn wallet with ease and in a gradual process to avoid mistakes that can make you lose your funds.

This is why, you don't need to waste all that time learning without buying bitcoin. The most important part of not sending your bitcoin directly from an exchange when DCAing, especially with little amount of money is to avoid losses in future. Nobody will love to build and grow his bitcoin investment portfolio for a long time, and when it's time to reap from your investment, there's nothing to reap from. This is because of your lack of knowledge on how to practice a good UTXO management.

You should know that your transaction fee is charged based on the space it is occupying on the blockchain. This is why if Mr A is transfering $500 from one input of $700, he will pay a very small fee compared to Mr B that wants to transfer $500 from small small output like $50, $50, $50 $50, $50, $50, $50, $50, $50, $50. Mr B transaction fee will be a killer in future.

Let me take you back to 2023 BRC20 token and in 2024 Runes, when those garbage congested bitcoin blockchain and transaction fee was fucking high like mad, will you buy your weekly bitcoin of $50 or $100 from an exchange and send it to your wallet, NO. Maybe, you didn't buy and you choose to stop buying which is wrong. In future, transaction fee might be higher than what we experienced, and that's why we must take our UTXO very serious when investing. It's when you turn an exchange to your self custody wallet which funds that you cannot afford to lose, that is not a good practice.