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Bitcoin is a lifetime opportunity. Those who are waiting or still have doubts today about whether to hold Bitcoin or not will realize that they have missed an opportunity of a lifetime. Not only to make money, but also to be at the forefront of a decentralized economic structure. The price of Bitcoin will increase or decrease in the market, which is the case with any investment. However, in weak hands, they will lose these things. If we take less, how safe is it really? If we look at small, medium and experienced investors, we will see that they have made small investments and got real value at the right time.
That is one of the ongoing faults in thinking. Even though earlier is better, opportunities are not lost for those who are just starting out.
In other words, it is best to get started as soon as possible because there is no way to turn back the clock to go back and buy bitcoin that you had previously neglected to buy.
I think that there are a lot of us here, who are active in this thread, who consider buying on dip to be inferior to DCA and also problematic for newbies to get overly caught up about BTRC price rather than just ongoingly buying bitcoin regularly, persistently, consistently and perhaps even aggressively, which is quite a bit more difficult to accomplish with a buying a dip strategy, unless the buying the dip strategy merely supplements the DCA and/or even lump sum buying approach.
Even buying the dip strategy isn’t so easily overcomes especially for those that are new into Bitcoin. You tend to face 2 type of challenges which are,
1. Knowing that this is the dip and price wouldn’t further dip from this point
2. Having faith in Bitcoin to go up as it usually does (you often find newbies in Bitcoin fighting within themselves speculatively).
That’s why, the ‘I don’t care’ what the price is which is usually the attitude about the DCA strategy always works best and is usually achieved rather easily. In fact in a way, it keeps your greed in check because, you look forward to a long term goal rather than short term.
Newbies are in the wrong mindset if they consider buying the dip as their only or their main strategy. Sure, it is possible and maybe even reasonable to supplement with some dip buying preparations, but it is likely better as a side strategy rather than a primary strategy.
Of course, each person is responsible for choosing and following his own strategies, even though frequently, there has been a tendency for folks to be too timid in their DCA, and they would have had been better off to be a bit more aggressive.
What does BTRC means? I didn’t get that.
A typo. BTC.
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... Smoking cigarettes in some part of the world is a basic practice for majority of those living there due to the amount of cold and weather conditions they face. So how would you advise someone going through a thick winter period not to smoke cigarettes or coffee just to save money for bitcoin. Let's not be carried away by what we know about bitcoin and we end up forgetting that we need to take care of yourself at all time.
People have to figure out for themselves what they consider to be basic expenses that are required for living or basic expenses to keep at a certain social status or basic expenses in order to avoid penalities.
They have to be able to distinguish basic expenses from discretionary expenses, and sure sometimes the line is not clear.
Maybe there are ways to save $200 per month on rent, but a person specifically chooses to have a higher lifestyle and to pay $200 per month more, and that lifestyle may well become part of the person's perceptions of what are basic expenses.
People who have various luxuries have more places that they could potentially cut down what they perceive to be their "basic" expenses, but there also may well be some costs to cut down on some of the expenses... maybe twice a month you take you spouse (or partner) to a restaurant that costs around $80 for each of the trips. You get pleasure from those tips and both of you get various benefits, yet these costs could be cut in part or in total, yet some of the pleasure might get cut too... So the choices are not always easy to figure out which costs might be cuttable within reason.
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I think it is not necessary to be having some certain lifestyle when you’re on your accumulation stages, well bitcoin doesn’t stop you from having fun, but sometimes as a low income earner that is investing in bitcoin I think it’s wise to reduce some expenses so that are unnecessary expenses to help and increase your discretionary funds to accumulate more, well it was never said you shouldn’t dress well or feed well but you could reduce some expensive lifestyle if there is any to prevent you from accumulating more, If you read and understand what I’ve said we could cut off and reduce some unnecessary lifestyles. For me I think it isn’t wise to be having fun with my income when I have Bitcoin to accumulate.
For sure, not everyone is starting from the same place, and there are some people who are quite poor, live in an area where it is difficult to improve their income and they may even have various family obligations (or health problems) that keep them from being able to increase their discretionary income.. .... so if a person is more challenged in his situation, he has to attempt to be more organized in order to potentially attempt to make up for some of his disadvantages. Surely a guy in his early 20s would likely be in a better place to potentially improve his employment opportunities as compared with a guy in his 40s, 50s or 60s and sometimes if a guy has lived a considerable amount of his life within certain kinds of employment and practices, it might become even more difficult for him to both identify a way out and to be able to pursue that way out.
Sometimes health conditions start to kick in, and some folks have the misfortune for their health to start to deteriorate earlier rather than later, and some of that might be due to their life style choices and other parts of that might either be coincidence (luck) or genetics.
I agree that sometimes there are needs to cut out some of the "having fun," and to either defer some of the gratification or maybe to spend a bit less time having fun, and structuring less "fun time," and surely none of us can tell any other person how much fun they should have or not have, and they are in the better position to judge their balance of fun, even though sometimes objectively someone might look from the outside and consider that there are some folks who might have their priorities mixed up and they are coming to poor lifestyle choices that likely will end up negatively affecting their future wealth.
If someone invests with knowledge about digital economic infrastructure, blockchain technology, cryptocurrency and Bitcoin and understands how they work well, then this can be a modern and groundbreaking step, but if you invest not blindly but with awareness and a long term perspective, you can definitely expect something good from it.
Hopefully guys are not expecting to need to know about shitcoins in order to understand bitcoin first.
And even with bitcoin, there is no need to attempt to have extensive knowledge prior to getting started investing in bitcoin. Many folks should get started with bitcoin and focus on bitcoin first and learn about bitcoin while they are learning about their cashflow management. They do not need to learn about shitcoins and crypto and blockchain technology and mumbo jumbo.. They may well need to learn to figure out if they have a discretionary income or not so that they can get started buying bitcoin, and sure maybe they do not know very much about bitcoin when they first start except looking at a price chart and seeing that the price has tended to go up and down and maybe realizing that it is not guaranteed to continue to go up, and maybe they start out in bitcoin and they are pretty sure that they have $100 per week that they could invest in bitcoin if they were to have confidence in bitcoin, yet they might be nervous about bitcoin, so they might purposefully start investing $30 per week until they get more comfortable to hopefully be able to increase their investment amount to $100 per week and perhaps greater and greater amounts.. and it can surely take some time for any newbie to become comfortable with bitcoin, even though surely some guys learn faster than others, and some folks have more experience in their investing and/or cashflow management practices than others, too..
From my observations alot of those that claim to be DCA are just buying low and selling high, the reason why I said this is because of the recent fomo that affected a lot of them and we saw that recently when the price of Bitcoin did a temporary dip and most weak hands began to handout their Bitcoin holdings, this make me to discover that most of those that claim to be long term Bitcoin holders are just investors for the good time, and not intended to hold they Bitcoin for long.
You are talking about traders and not investors, but you are referring to them as if they were investors.
What point are you wanting to make about the people that you are supposedly seeing to be a lot of people in bitcoin who claim to be DCAing?
There are a lot of people who mix up trading and investing, and hopefully you are not going to get lured into such a trap.
You sound like you are interested in what the traders are doing, when you likely need to be focused on yourself, and surely if you have been in bitcoin for 3.5 years, like your forum registration date suggests could be the case, then surely you might be starting to get into a good position in regards to your having had been able to build your bitcoin position and to be soon able to get through a whole four years.. but yeah, maybe you are thinking about playing this here particular bitcoin price wave rather than continuing to accumulate bitcoin.
Surely it is possible that a person in with your bitcoin timeline might have had been able to get into a position of overaccumulation, and so that would give you more options if you have gotten to overaccumulation status, but even if you have gotten to overacccumulation status, you still likely have to be careful in regards to how much bitcoin you might choose to sell and if you are planning to buy back cheaper or if you might be merely selling within a price-based sustainable withdrawal or time-based sustainable withdrawal approach. From my experience, usually price-based sustainable withdrawal would be easier to start to employ, but still I would not anticipate that guys sell bitcoin with expectations of buying back cheaper.. even though sure, you are free to do whatever you like in regards to your bitcoin management practices... if you think that you might have had gotten to an overaccumulation status.
I recall seeing other posts from you in the past that causes me to believe that you likely have been employing trading strategies, which it becomes way the fuck more difficult to ever reach overaccumulation status if you are fucking around trading and believing that you might be able to sell and buy back cheaper.
Think about the last 2.5 years. The BTC price has been mostly going up from its $15,479 bottom in November 2022 until now, and yeah there have been some price dips during the past 2.5 years, but guys who have been focused on BTC accumulation (especially aggressively and persistently) have probably done way better than guys who had been trying to fuck around trading during that timeline.
I think that there are a lot of us here, who are active in this thread, who consider buying on dip to be inferior to DCA and also problematic for newbies to get overly caught up about BTRC price rather than just ongoingly buying bitcoin regularly, persistently, consistently and perhaps even aggressively, which is quite a bit more difficult to accomplish with a buying a dip strategy, unless the buying the dip strategy merely supplements the DCA and/or even lump sum buying approach.
So, yeah a lot of folks get confused by this thread's title, including the OP author Wind_FURY who frequently flip-flops around on the topic... proclaiming that he is an advocate of buying the dip, then saying he is o.k. with DCA, but then going back to buying the dip as if it were the best way forward, even though he ignores his own history in regards to his having had been disadvantaged by his own employment of waiting rather than ongoing buying strategies.
You're right, sir, but we can choose a strategy that we think is better for Bitcoin investment. While some people prefer to wait for dips and buy using the DCA strategy, I believe combining the two strategies is the best idea for Bitcoin investment. We prioritize regular weekly purchases as our first choice, and buying during dips as our second, because no one knows when dips will occur.
Of course, you have to figure out what works for you, and surely any brand new person to bitcoin woudl likely be way better off to figure out ways to stay focused on persistent, ongoing, regular, consistent and perhaps even aggressive bitcoin buying, which likely would not be productive to be trying to figure out how dips might fit into such plan.
Surely, the longer that any of us are in bitcoin, then the growth of our already existing bitcoin stack might help to justify to tweak the strategy and perhaps even to moderate towards buying on dips and even further down the road, the DCA portion might get completely removed and such person with a larger BTC stack might start to decide to ONLY accumulate during dips.
Beginner bitcoin investors are not in such a place, so they likely are better off to mostly focus on DCA, yet whatever they decide is within their choice, and surely if they are able to lump sum then they are also in a different position if they have those kinds of lump sum opportunities that might not be available to some folks who are merely relying on their regular income and even determining that they don't have a lot of discretionary money, so they are doing their best to figure out how to balance out their cashflow so that they can invest every week and DCA seems to be the best option available for them... and commonly, guys might not feel a lot of conviction for bitcoin, and they may well be learning about bitcoin, and yeah the longer they are in bitcoin and the longer that they are able to both invest in bitcoin on a regular basis and learn about it, then they may also start to feel justified to tweak their BTC accumulating approach, and even after a year or two investing in bitcoin, they may well might have had gotten their cashflow position into a stronger place and even put together their back up funds and gotten used to how to manage such back up funds, so surely the more their cashflow management systems are strong and their bitcoin investment is taking root, then the more they might be able to incorporate buying on dip systems into what they are doing.
The DCA buying strategy offers us greater comfort without the pressure of price changes, which is why we choose DCA. However, what's most regrettable are those who continue to wait to buy Bitcoin; they don't take a stand, as if they're not prepared for what they're doing, making their statements unreasonable.
Of course if a person has a lump sum amount that comes available to him such as $2,500, and he had been buying $100 worth of bitcoin every week for the past year, then he may well realize that the $2,500 is the equivalent of the past 6 months that he had been buying bitcoin, and surely it would not necessarily be best for the guy to DCA with the additional $2,500, but instead it might be prudent for him to also consider 1) buying right away and/or 2) buying on the dip as two other possible ways to invest the $2,500 into bitcoin.. there is no one exact correct answer, yet I doubt that DCAing that money is necessarily the correct answer.
Another thing is that DCA may well be employed as a way to buy as much bitcoin as a guy can buy as soon as he gets the money, so he is not using DCA to defer his BTC buys or in order to buy bitcoin at various prices, since he does not necessarily want to buy bitcoin at various prices, he prefers to buy bitcoin at the lowest price that he is able to buy it, yet since he has no clue if the BTC price is going to go up or go down, when ever he gets money that he can authorize to buy BTC, he buys right away with that money.. which is also known as DCA... So DCA can be aggressive or whimpy or somewhere in between, it is completely within the realm of each of our choices to figure out how aggressive or whimpy we would like to be in our DCA approach... We can also end up being overly aggressive, so we have to figure out a balance that does not cause us to get recked..
Yes, diversification does not mean that the investor has to invest in Bitcoin along with other cryptocurrencies or gambling tokens. Diversification is done to reduce the risk. Not putting all the eggs in one basket, but in different baskets. But when he keeps his assets in shitcoin, his attention to Bitcoin will be lost. After holding shitcoins for a long time, when he loses that money, his greed will also affect his Bitcoin investment later. This will destroy his long-term dream of investing in Bitcoin. For diversification one can also keep his assets in real estate or any other platform, but when he keeps them in shitcons, he can be cheated at any time.
Yeah, diversifying our investment is good, but since we are still early in Bitcoin investment, it is good for us to remain focused on our Bitcoin investment and forget about diversifying our investment for now so that we will not get distracted. It would even be better if we used the money for diversification to front-load our Bitcoin investment so that we can increase the size of our Bitcoin holding. Maybe when we have accumulated the quantity of Bitcoin we want, we can then think about diversifying our investment or, better still, start accumulating Bitcoin again.
I do not think diversification is really a bad idea as long as you are not considering diversifying into shitcoins. You can save alongside your accumulation of bitcoin to diversify into another profitable venture like maybe real estate or agriculture, it helps create a more sense of security and balance on your investments as a whole. What tends to distract us is when we shift our gaze from investing to gambling, and in this case it might be shitcoins involvement or even trading without relevant skills(better off if you can avoid it totally).
I would still propose not diversifying when you have not come to some maturity in your cashflow management and is able to maintain consistency in your accumulation journey for a while. If an investor is able to maintain consistency in his accumulation journey for a year or two or even a whole cycle, such a person can think of diversifying into other profitable portfolios without harming his ongoing accumulation of bitcoin.
You can choose at whatever point you believe diversification to be appropriate for you, and surely if you have a small budget, such as $100 per week and you have been investing a couple of years into bitcoin, you may well not even be near a point in which diversification would be justified, yet of course, it is up to the person if he wants to put money in other places and then potentially end up having to reduce their bitcoin investment to a lower weekly amount... because whenever you divesify, you are taking money that could have had been put into bitcoin.... so even if you keep investing in bitcoin, it is surely not obvious that your bitcoin investment had not been affected.
You can plot it out on a chart. Go back 1 or 2 cycles, and then have a guy start out investing $100 per week into bitcoin for 1-2 years, and then after the first 1-2 years, he invests $50 into bitcoin and $50 in some other asset.. choose whichever one you like. The guy who stayed focused on bitcoin is likely going to have had done way better than the person who chose to invest into inferior assets... and yeah we see those examples frequently, and guys can do what they like and suffer the consequences of their decisions, either way.
By the way, even a guy who invests 25% of his income into bitcoin, it is going to take him 4 years to get to a point that he had invested a whole year's income into bitcoin.. and maybe by then there might be some justification to diversify, but I have a hard time considering scenarios of a guy investing smaller amounts and/or even shorter periods of time starting to conclude that there might be some value in diversifying into other investments, even though surely there are a lot of folks who consider diversification as if it were a good thing, even for relatively newbies.
Yes, diversification does not mean that the investor has to invest in Bitcoin along with other cryptocurrencies or gambling tokens. Diversification is done to reduce the risk. Not putting all the eggs in one basket, but in different baskets. But when he keeps his assets in shitcoin, his attention to Bitcoin will be lost. After holding shitcoins for a long time, when he loses that money, his greed will also affect his Bitcoin investment later. This will destroy his long-term dream of investing in Bitcoin. For diversification one can also keep his assets in real estate or any other platform, but when he keeps them in shitcons, he can be cheated at any time.
Yeah, diversifying our investment is good, but since we are still early in Bitcoin investment, it is good for us to remain focused on our Bitcoin investment and forget about diversifying our investment for now so that we will not get distracted. It would even be better if we used the money for diversification to front-load our Bitcoin investment so that we can increase the size of our Bitcoin holding. Maybe when we have accumulated the quantity of Bitcoin we want, we can then think about diversifying our investment or, better still, start accumulating Bitcoin again.
How do you intend to diversify your investment when you have not even gotten to the middle of your accumulating journey? diversifying your investment when you have not yet acquired a reasonable amount don't make much sense to me. As a no coiner what you need to do is to keep accumulating bitcoin since is your first choice of investment then
after which you have gotten to the status of overaccumulation then you can start looking into diversifying into other assets, because bitcoin investment need to be giving much attention than any other crypto investment since bitcoin is the only crypto currency we are sure of it good potential in the future, aside from bitcoin investment I don't think if there's any other crypto currency that one can think of diversifying into.
Permit me to say as a newbie, diversifying too early might not be effective when, as a newbie, the primary goal is to build as much of a long Bitcoin portfolio little by little, plus having a belief that Bitcoin really has a strong future potential which warrants focused investment, and once a substantial Bitcoin portfolio is really established, diversification into other assets can be considered.
Either too early or not, as a newbie you are not suppose to diversify your investment because you are still in your building up stage,
the only time you can diversify is when you have reached your over accumulation stage, then from the over accumulation you diversify not all your investment but part of it and then continue to be accumulating, because it will be wrong to see all your investment after you have reached your over accumulation stage that took you about over three to four cycle to invest in the bit to diversify, make your starting your investment from zero level again, it will be very unhealthy for that investor, because it shows that the investor does not really understand what investment for long-term is all about.
I continue to wonder why members keep repeating the wrong statement, which is that you cannot diversify until you have reached overaccumulation status.
That clearly is not correct.
You know had I know will always come at last, it's like beholding your way to liberty but choose to run away from it and later regret it when it might have become too late, and again in this present days now we have many doubting Thomas and with things happening around the world people are being mindful of themselves, but little did they know that Bitcoin is a kind of final destination to financial stability and a life time investment because with the level of speed Bitcoin is moving Manny are definitely gonna regret it why they didn't take the chance by then it might be too late, that's why I keep urging my friends to invest in Bitcoin because it must pay off.