Quote from: JayJuanGee on Today at 03:57:06 PM

Quote from: DubemIfedigbo001 on Today at 06:18:09 AM

Quote from: JayJuanGee on Today at 04:57:53 AM

[edited out]

Hi JJG, I believe you quoted wrongly in your reply here, maybe you can adjust it to be more readable.

Thanks. I fixed it.

Quote from: DubemIfedigbo001 on Today at 06:18:09 AM

Loans aren't bad, it becomes of more advantage of the prices of BTC continues going up within the repayment period, but I'll still maintain that if you can avoid it while remaining committed with your DCA, it's a better option since DCA still allows you to buy across dips to and tops to smoothen the effect of volatility on your investment.

The use of loans, and various other financial instruments are more advanced techniques, and they surely have risks that do not come from merely buying bitcoin without any leverage and without any of those various possible risks.

Since bitcoin has historically been such a great performing asset, you are likely correct that many times it is not necessary to add more risk, and to still be able to profit stupendously by merely going long bitcoin. Guys have discretion to use those various instruments, and sure, they may be devolving into gambling rather than prudence and/or reasonableness when they employ various financial instruments, including loans.. but that is their choice.

Quote from: DubemIfedigbo001 on Today at 06:18:09 AM

It would be more painful if after taking such loans and Bitcoin price continues going down, then he bought lesser quantities with same money and is still paying interests.

Sure. That does end up happening to a lot of people, and so that is one of the risks that should be accounted for.. which means that the guy needs to have means to service the loan outside of the expected appreciation of bitcoin, otherwise he would end up even in worse pain.. and potentially causing him to lose more than 100% of what he invested in connection with the loan amounts and the various extra costs and even potential penalties that might result if he had not prepared his cashflows adequately.

Quote from: DubemIfedigbo001 on Today at 06:18:09 AM

Such investor might even terminate his accumulation journey out of frustration. That's why it's advised to remain as much aggressive as you can without overdoing it, so you don't experience discomforts that might threaten your ongoing accumulation journey

Sometimes people do become their own worst enemy since there can end up being pretty severe consequences if they have not sufficiently and/or adequately prepared themselves for a variety of scenarios, including extreme scenarios and even including the price going against them in extreme scenario kinds of ways.

Bitcoin remains amongst the best, if not the best, of investments widely available to people around the world, yet there are people who have lost money in bitcoin, especially if they failed/refused to error on the side of accumulating bitcoin and holding and not going overboard in their various methods (including getting too greedy).

I agree with everything you said, greed is one major enemy of success. When you are greedy, you will forget to see the consequences of your actions if it didn't go as planned. Whoever has little discretionary income should manage that and build his bitcoin portfolio gradually with regular weekly DCA overtime. While he should also keep looking for other means to increase his income, so that he can buy bitcoin aggressively. When you become greedy and want to be faster than your shadow because there's a dip that you are not prepared for, you take a loan forgetting that bitcoin is a volatile asset and can dip below the price that you bought with the loan and remain there for long. It becomes a problem because you have to service the loan.

Before you know it, the interest of your loan might start increasing and that shows that you have taken the wrong step which might terminate your focus on building your bitcoin portfolio and hodli for a long-term. Regrets will become the order of the day. My nephew has been living from one loan to another, and when he gets paid, the loan company deducts their own percentage, and because of that he cannot plan his life properly. The thought of paying your loan debt alone can make you make wrong decisions with your bitcoin investment.

I will advice all those investing into bitcoin to avoid loans because paying back the interest means that the extra funds that you can use to buy bitcoin will be use to service the loan. Patients, hard work, consistent, persistent and aggressively in your bitcoin accumulation journey will lead you to success when done the right way. Let loans be for those who can avoid to service it and not for plebs like us because bitcoin is volatile in nature.