some dip today
102.7k
There's probably some professional traders taking profit at the current price level. They probably believe it's going to be another phase of accumulation and that their capital might be use more efficiently somewhere else? 102.7k
I would suggest that they are probably retarded rather than professional if they think that it is smart to be taking profits (in bitcoin) in these prices.. but sure.. people do dumb shit, even supposed professional people.
But if they still want to trade in something else, AND still something related to Bitcoin, then they will definitely like MSTR. I believe it's trading at 1.XX NAV which could go in premium when Bitcoin surges again.
I'm a mere pleb though, simply a shower-thought of what could be possible.
¯\_(ツ)_/¯
I'm a mere pleb though, simply a shower-thought of what could be possible.
¯\_(ツ)_/¯
You are likely retarded (or distracted) too if you are trying to suggest that trading is a good idea, when many of spend so much time proclaiming that this thread is not about trading, and you, as the OP author, are inclined towards getting distracted since you may well not even remember why you are in bitcoin and for sure, you are mixed up about attempting some kind of consistency in the topic of this here thread that you started...
Like a lost puppy, more than 6 years later.
Like this:
Poor widdo Wind_FURY
Actually, a steady income is a MUST for saving a part of your salary in Bitcoin, especially if you employ a DCA sort of strategy. Because it doesn't matter what you call "prepared", if you don't have a steady income then you definitely ARE NOT ready.
U are right , before going into Bitcoin investment it is important one have a source of income , I have recognized the importance of steady income with my own investment journey , it is also good for long term investment success, when their is a stable financial income either with your job or other investment you can manage risk and it enable one be consistent in their investment."We" have not hammered on the supposed "importance of steady income" in this thread. You are probably dreaming, even though there are several folks currently hammering on that inaccurate point... in their seemingly wanting to create bitcoin investment standards that are higher than they actually are. Why? I don't know? Perhaps wanting to discourage people from getting started in their investment into bitcoin?
But beyond having a steady income it's most important that discretionary funds must come out from the steady income,
Sure discretionary income does come out of steady income, but it also comes out of having money left over after expenses. Discretionary income is a lower standard than steady income, and there is no need to have steady income in order to invest into bitcoin... even though there is a need to have discretionary income to invest in bitcoin.
if your income is not sufficient for your primary needs it'll be very difficult to sustain your DCA strategy.
True that a person has to have discretionary income to buy bitcoin, yet they do not necessarily need to maintain a DCA strategy in order to be able to invest into bitcoin.
Sure, it is a good idea to invest as aggressively as you can, including investing regularly, ongoingly, persistently, consistently and perhaps even aggressively, yet it is not required to ongoingly invest in bitcoin in order to get started.
The best option that an investor that is in such a situation has is to reduce the costs of unavoidable expenses like food and the rest in order to boost his discretionary funds. That is from where DCA funds will come out from.
Sure. Discretionary income can be increased by increasing income and/or reducing expenses.. and surely it is a good thing if anyone investing into bitcoin can increase his/her discretionary income to be able to buy bitcoin, yet it is not required that a person has to follow any particular style to invest into bitcoin and a person can get started investing into bitcoin without making any plans to continue to invest..l or even to be erratic in his investing into bitcoin based on his income not necessarily being steady and/or certain. There are people who do not have steady incomes, yet they can still invest into bitcoin as long as they have discretionary income.
If reducing the budget for unavoidable expenses or basic needs is not possible because he has already reduced it to the bearable minimum, then DCA has to be suspended till there is increase in income.
That is true. If we no longer have discretionary income, then we likely should not be buying bitcoin, since we would be taking risks and/or potentially gambling with money that we need for our expenses.
DCA is profitable on the long term but shouldn't be a do or die, pausing for unavoidable reason should be understandable.
Ok. now you seem to be contradicting yourself and admitting that a person can still invest into bitcoin, even if his income (or discretionary income) might shrink or disappear.
Inorder to stay in charge of your financial life and continue DCA on the long term it's important to always look for good means to increase your income because unforseen circumstances can make you to deflate your account.
This is true too, and part of the reason to keep back up funds and/or emergency funds is to potentially have money available in case your expenses exceed your income and so that you don't have to dip into your bitcoin during such times... but yeah, if the situation of having more expenses than income persists, then the emergency funds and back up funds will get depleted and such persons might be forced into needing to tap into their bitcoin, especially if they are not able to rectify the situation to increase income and/or decrease expenses.
Investors should never be aggressive in their investments.
Frequently I suggest that investors into bitcoin should try to be as aggressive as they can with their investment into bitcoin and their cashflow management, without being overly aggressive, and so of course there are judgement calls regarding how aggressive is sufficient, without overdoing it.
Sure, people can choose to be whimpy in their approach to bitcoin, and maybe their choice to be whimpy will still work out for them, or maybe they will end up fucking up because instead of getting to fuck you status after 4-10 years or more, they might never get there... and yeah, of course, there are no guarantees that the more aggressive bitcoin investors are going to do better than the whimpy investors, since there is no guarantee that bitcoin will be a profitable investment, even though bitcoin seems to be amongst the best, if not the best investment currently available to everyone and anyone with a discretionary income, so yeah.. there are likely going to be a lot of folks kicking themselves down the road because they choose to either be whimpy in their bitcoin investment or they chose to wait rather than invest, as compared with the various investors who are choosing to figure out ways to invest into bitcoin as aggressively as they are able to accomplish without over doing it.
Your level of aggressiveness is your choice, and you have to live with the consequences, including the consequences of having had chosen a whimpy rather than an aggressive bitcoin investment path.
Investors should never be aggressive in their investments.
Seems like you don't understand what investing aggressively means, let me explain to you. For example if Mr A has a discretionary income of $100 and chooses to invest $55 weekly using DCA method overtime. Mr B also has a discretionary income of $100 and instead of using $55 to invest weekly like Mr A, he decided to use $85 to DCA weekly. You will see that Mr B is buying bitcoin aggressively without overdoing it. Mr B will definitely acquire more bitcoin than Mr A in the long run.
This is why it's good to invest aggressively when you can because there are some weeks that your discretionary income will be not be much based on higher expenses on basic needs, in that case, you can invest without being aggressive. It's when you overdo it that's not good. To front load your bitcoin investment is also good if you can so that you will reach your bitcoin target in a fast pace.
Okay, let's say Mr. B has made his Bitcoin portfolio heavy through aggressive investments, in which case it turns out that his aggressive investments did not have enough money in his emergency fund, in that situation, Mr. B falls into a major physical problem due to which he needs a lot of money now, wouldn't he have to face problems if he did not have enough emergency funds? Wouldn't he have to deplete his Bitcoin stock then?
Why do people save money, of course, for use in times of need.
And if you cannot use your money in times of need, then what is the point of saving it?
That's why I said that an investor should never invest aggressively without an emergency fund.
Yes, he can invest aggressively when he already has enough money in his emergency fund. And he has to meet his basic needs well.
When you are describing a person who has gone overboard and who has not adequately prepared, then you are describing a person who is being overly aggressive.
There is a difference between begin aggressive and being overly aggressive.. So sure, we might be describing similar ideas with differing terms, yet I will continue to assert that there is not necessarily a problem with investors being aggressive and figuring out various limitations, as long as these investors do not end up overdo their investment and/or their cashflow management practices then they should be fine.. but they still have to figure out those limits and if they fuck it up then they are going to be the one who suffers the consequences for their having had over done it, so perhaps in some sense (you might be correct Bluedrem) even if they want to be aggressive, they might well be better off to error on the side of being less aggressive and not overdoing their level of aggressiveness rather than making the mistake of overly investing and then not being able to reverse their mistake..