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Edited out Gaining knowledge before going into any investment is very important, without knowing the basics of an investment before going into it can amount to failure, also taking hasty decisions before involving in any monetary ventures is a danger and can make the person to lose their investment funds. Before going into Bitcoin investment, it is important to understand how it works, knowing the basics like the seasons, bull run and bear run, what can trigger price to pump and dump, what halving means and how to protect your wallet from hacks, also how to secure your seed phrase, this basic knowledge will prepare a newbie investor on how Bitcoin works. I like the phrase "buy the dip and hodl" it will direct newbies and experienced investors on the best time to buy Bitcoin, so that the person will not wait till another halving, to see a new ATH price, before they can make profit, buy during bear run and sale during bull run. So the best time to buy is when price dips, and sale when price surges, also the best option is to do DCA method, keep buying irrespective of short term pump and dump, then sale in the bull run or keep hodling. I tend to disagree, a new investors doesn't have to know about bull run and bear run to be able to invest or buy bitcoin neither would it amount to helping him out in any way if he knows it, the only thign he needs to know about is to buy bitcoin. You seem to driving much towards early profit which is of no concern to someone just starting out his investment, his major concern would be how he should accumulate more bitcoin and nor making short term profits, in this thread we habe already come to a observed conclusion that long term investment is safer and better than short term investment and the term buy the dip and hold has nothing to do with what you said, everytime is the best time to buy bitcoin and not only during dips, and that is the disadvantage is you won't accumulate bitcoin except during dips, its dar better to use the Dca strategy cause you would be accumulating Bitcoin in every market condition and worry less about market volatility. |
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Dear friends, hereby we are closing our signature campaign for the time being.
The campaign on Bitcointalk has been running for 226 consecutive weeks which is 4.5 years. We feel that it is now time for us to forward our marketing efforts to the new areas.
The start of the campaign was met with precautions and lack of trust, but thanks to you we have skyrocketed and gained recognition and exposure.
You have been loyal to the promotion of our brand on this forum; many of you have been in the campaign for a long time.
We want to thank each and every one for your dedication and contribution, and wish you all the best. Thank you for having been the green fam with us!
I think that your campaign brought you lots of customers. I personally didn't know about Bestchange but after your promotion on this forum, I got to know about it and became an active user of your website. I believe there are also many people who actively use Bestchange, thanks to your promotion here. Btw wouldn't it be better if you still kept the signature campaign but in this case with less number of participants? Like Sportsbet did? I think that an active signature campaign gives many people hope that business is here and if there is a problem, they'll get help and attention on this forum. Same here, i just found out about bestchange as some users started posting about it, it's quite not a good news that one of the best campaign on the forum has ended, anyway its been a pleasure having you here and our wish you the best of luck out there finding a new program. I also heard that it might be temporary and they could be a come back, in any way you are more than welcome here and you should that a lot of members are more than ready to put on that signature and begin working again, I wish I could say that for myself but I'm sure someday if you remain ill get to work for you. |
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We have seen a huge swing in the price of Bitcoin in the new year and it has reached an all-time high. Where we can assume that a new ATH has formed in the Bitcoin market and we have seen a new road. As we are currently in the year 2024 and at the beginning we saw the Bitcoin market peaking at $73k. However, currently we can see that the market has moved down slightly after the Bitcoin halving and currently the Bitcoin market is hovering around $63000. However, we can confirm that there is no doubt that the price of Bitcoin will reach $100k and we have seen many other forecasts where various experts and experts have predicted that the price of Bitcoin will reach $150k. The way Bitcoin price is currently going, we can say with certainty that we are going to face a bull market very soon, and then the price of Bitcoin will touch $100k. As the market price of Bitcoin is currently dumping a bit, it will pump up again as it is due to volatility in the market. Anyway now we should buy more bitcoins and hold it for long time and if we can buy and hold bitcoins now then good things are waiting for bull season ahead.
I believe this is your speculation, but then saying that Bitcoin will $100k is a little to obvious, and flat faced if no time frame is added to the speculation and maybe a theory to support why it'll work in that timeframe.. Maybe this bull run will get us up to $100k or not. Since we're all speculating here, I don't think the word 'certainly' does it at all, because it begins to seem like assurance from foresight. When it comes to Bitcoin, we must understand that short term speculations are near impossibly accurate. If you ask me, we're practically on our way to 100k and then, here's why I think so, we should understand that one knows for sure whether bitcoin will rise or fall in value over the coming days, weeks, months or years. However, one way to guess at future price changes is to consider BTC’s previous price movements. That's one way. So if we ride on that factor, we have this: In January 2014, bitcoin was worth approximately $800. By January 2024, it was worth more than $42,000. That represents a price increase of better than 5,150% and an annualized return of more than 135% per year over the past decade. If bitcoin experiences that same rate of appreciation in its average annual returns, it may very well reach $98k in January 2025 and hit $100,000 in February. Hopefully. Although this can happen sooner than that or later. It's all a speculation. This is mine. |
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I think better strategy would be Buy the DIP, sell at local high, open short, HODL and sell at local low. Rinse and repeat. Indefinitely. Yes, it is easier said than done. But for me, it is easier after around 6 months of watch, learn, and execute.
I think it's in your best interest to understand this, this post you made is actually off topic, and I think you should read the topic before rushing off to post. Trading isn't the whole discussion of the topic, and trying to debunk the topic under this thread is actually off topic and totally uncalled for. Your post would've been most appropriate in a corresponding thread. Ok bos.
Aside making an off topic post trying to debunk the topic in the discussion, something else that is totally uncalled for is the spam post you dropped here. You should be aware that there are penalties attached. Even if you may not feel I'm in much position to correct you, but since you're a newbie and doing these things that I see you've done, I'll advice that you quit running around and cool off, read more than you spam. That way, not only will you get experience from higher members, you will also gat ahang of how it works here on the forum. This thread, (since it totally appears that you do not get it) is created to discuss HODLing and not promote trading or any other off topic that you can think of. If you have no idea, or contribution to make on the topic, what I'll advice is to find a topic that you can naturally relate with. |
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Wow if you are picking out some other shitcoins, then it appears that you are trying to pump which shitcoins happen to be less shitty (and your choice of less shitty coins happens to be ethereum and BNB), so where does that lead us.. It leads us to being off topic and talking about irrelevant bullshit of whatever thousands of potential other shitcoins...
Ain't nobody got time for that
Exactly the point I was going to raise. This is a Bitcoin forum, buy the dip and HODL. Specifically talking about Bitcoin accumulation. We don't need some confused people coming to advertise shitcoin here. They should take this somewhere else, maybe like the altcoins section or something. Personally speaking, I'm fed up with hearing about shitcoins in this thread. Makes me wonder what the fuck is actually going on. Some people come here to talk about their shitcoin holdings which I find both annoying, replusuve and funny. I think we really need a 'fuck off' button. Or an off topic flag kind of thing on here 😂. It also pains me that anyone would see any other coin as a Bitcoin alternative |
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If you see history as important and as a foundation, as a criteria to measure potency and growth, then you really should check out the behavior of Bitcoin over the years and it's performance, Bitcoin is like a train, it moves, may have few stops, but the whole story is that it goes forward. Even as the world evolves, the evolution also includes the relevance of Bitcoin, in some places that didn't accept Bitcoin for trade and exchange, now do, and soon there won't be a place where Bitcoin isn't accepted. Not to worry, with Bitcoin, before it's relevance is lost, it won't be in your lifetime. All I said I tried to hit the mark. Somebody else can go on about the figures and stuff .
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When it comes to cryptocurrency, one advice I'll give is, when it comes to short term purposes, like taking capital and putting it in crypto, and expecting magic in a month, while the price of your coin 'could' appreciate within that space, it's quite unlikely or rather risky, as you could equally make losses before the end of the month, when you need it. But then, when the margin is large, and Bitcoin is the said coin, then there is likely profits. The shorter the margin, the more risks of losses.
And secondly, you shouldn't enter Bitcoin or crypto being half informed. This is a clear example of the panic people express at dips, which is a popular failure. Maintaining composure during dips is one thing that bitcoiners should learn. I can't speak for shitcoiners though. It's natural that a dips you panic, but then it shouldn't lead to you selling off your holdings. Before you do Bitcoin, be familiar atleast with different terminologies, and then with the behavior of the market. These are little things that make a bitcoiner.
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Not every Ai out there is friendly, as most of them are spyware and are created solely for destructive purposes. It even goes beyond Ai, to simple apps, sometimes we can find some unknown apps in our devices. Apps that we didn't install ourselves. These spywares can also even include random things like non default keyboards, as you can type lots of passwords over these keyboards, and can give access to whoever is on the other side, spying. Staying away from downloading files from unprotected sites. Sites that supported mod apps, are usually unsafe.
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I have received dust many times in the last years, mainly in addresses with positive balance (I don't check the empty ones often, so I don't know whether I receive something there). As far as I'm aware, that's not a big issue since there is no need to send dust in order to track the transactions from or to that address since the blockchain is public.
IMO, the moral should be keep things tidy, the same if you received dust or not. Although a single point of failure is enough to break your privacy, the more mistakes you make the more chances of being tracked and, eventually, attacked. So it is a good idea to create throw-away addresses while being aware that every time you consolidate you may be sharing too much info.
I don't know how scammers manage to know which wallet has some funds in it to target, from what I heard they send lots of micro transactions to multiple addresses, but how do they get this addresses, are they guessed or is they a way they find them. |
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You seem to have a misunderstanding of the DCA strategy in total.
The DCA strategy is not for poor people or for those with little income, it has nothing to do with how much you are earning the DCA strategy is simply dividing your capital into parts and investing or buying at intervals and this is done for some reason which is to.reduce the impact of volatility on yoir portfolio, you know that bitcoin is still a very volatile asset and to avoid situations where by you buy at a price and then the price dips and you portfolio would be at lose, but with the DCA method you get to buy at every intervals and price points so those fluctuations in price would not affect you, and why it is recommended here is beach it sis more beginners friendly and you don't need much knowledge other than to know how to buy and hold to get started with the DCA unlike the buying the dip strategy that involves some level of timing the market and more knowledge to be very successful at it. So yeah there is no barrier in using the DCA strategy.
I see that DCA is for anybody that has a steady source of income that can be able to accumulate as little as $5 to $10 per week because if you want to be rich I don think you would be able to accumulate. When you are talking about little income, you should be able to clarify the type of income. Each an everyone has its own source of income generation and the capacity it can carry . Provided that the amount he receives can be able to help him accumulate btc and emergency fund just like everyone has been saying in this thread, I believe he has to go. Everyone has the amount dey revieve it ranges from $50 $100 $200 $250 $300 and so on. In a situation where you receive any of this amount, you can schedule or program your self on how to arrange the DCA, emergency and reserved fund . So if you think you need to be rich before you invest in bitcoin then am afraid you are delaying your HODLing journey. It doesn't necessarily need to be a steady income, I could be a money that comes once in 3 months, 6 months or such intervals and you decide to divide that amount into parts and invest them on intervals instead of buying with all the amount at once, so yeah the idea of having a steady income leads to the fact that for DCA and accumulating bitcoin to give you the best results you have to be kind of steady and consistent in doing so, so some folks that haven't got a steady income can at times pause or stop due to their money getting exhausted and at times even us up their reserves if they have quite the appetite for buying bitcoin, and your emergency funds also has nothing in to do with steady income, its just like that savings we never touch and we build just to insure that we never sell our holdings based on misfortunes or emergencies and this should be up to 3 months of your expenses to be potent enough. Your right, DCA must not be for those with steady income, although it would have been netter if you used some illustration like Jay does, let me try if I cam get this right. Let's assume a guy might have received a government fund that comes 4 times a year on equal or irregular intervals and this amount is 3k, so he decides to invest 1k into bitcoin and yeah he should just go and buy Bitcoin right away with all the funds but instead of that he decides to divide that money into 12 parts which should be 83$ each approximately so that it would meet up till the next time that money comes, and one good advantage of this, is it that you don't have to worry about volatility or price changes, so for many reasons we mostly recommend it for beginners and I guess you should try it too. Hope your right now@ berry2d |
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Most things you are just saying Is off mate. FYI we don't have to wait For any drop in price before thinking of accumulating, this bitcoin we taking about, well I guess the reason you have such mentality is due to the fact that you have been In to shitcoins for so long which is bad ( and your post says it all). There's reason why DCA strategy is there for us to make use of. It gives us the chances to purchase bitcoin at any price interval. And I won't advice to use such strategy in shitcoins so that you won't endup getting self reckt so badly , because the risk in shitcoins are just so much , so please try to reduce such urge in investing in and focus mainly on your bitcoin accummulation to be in more safer side . I hope in that part that I bold when you mentioned coins , hope you talking about bitcoin so that you won't endup misleading newbies in investing in some shitty shitcoins.
You seem too committed to the DCA method that you tend to have forgotten that there is another method of buying called buying the dips. There is nothing wrong with setting aside some funds to buy when price dips and when waiting, using the DCA method to continue buying without stop and waiting for the dips to buy lump sum. This is a kind of combined method which is very effective. I think most experienced investors apply this method and I recommend the method for anyone who want to fully take advantage of different market conditions. I can only talk from personal experience, I used to take this hybrid approach dca and bftd, but when I went back thru my data and calculated the difference from pure dca and this hybrid approach I found it didn’t quite pan out the way you are saying. The main problem encountered and not all the time but most of the time you don’t get the dip properly. It’s very hard to hit the dip without a lot of eyes on glass ie time. Yes you can set orders but then you have to divide up your dip money to guess where it lands and sometimes you have leftovers. Instead of bftd I increase my dca amount for a set period of time and then bring it back to normal levels. For example for the next 4 months I increased my dca amount. In July it will go back to normal levels. The second problem is outside the blockchain, you got a little nest egg for dips but then things come up trying to nibble on the egg from rl. Yes there lots of strategies to insulate and segment your money but the majority of people don’t have these in place. If you don’t have an emergency fund in place I would not recommend trying to bftd strategy.I’m absolutely not saying your wrong but in my own experience I keep coming back to the old adage; “Time in the market instead of timing the market” Pure DCA let’s you accumulate methodically and increase your time in the market without any timing requirements. Why should you be bothered about timing the market, the DCA strategy already allows you to have an idea of the bitcoin price at all times, and the best way to buy the dip is to just fucking buy when the price has reduced a bit and a better way would be to buy down if you are not sure if that's the dip, let's say you split the money that you wanted to use to buy on the dip into parts and just buy on intervals that way you woudl take the most advantage of the dip and at times they are situation where by you exhaust the money you used to buy the dip and the price continues to dip, but one thign you should have in mind is that you can never always get it right, so yeah at times you would be most favoured by your strategy and other times you won't get it right, but since you said you were using the DCA strategy too then you shoudl be all right cause with the DCA you but at every market intervals. Yeah life happens at times and we find ourselves in some uncomfortable situations where we have to use the money in our reserves to solve other problems other that what we kept them for which is buying the dip in this case. Any one who doesn't have an emergency funds is literally gambling and should know that his investment isn't safe at any time, what if life happens and your house gets burnt down or hospital situation and all you have is yoir bitcoin holdings, you would surely sell them off, without the insurance of our emergency funds we are sure gambling rather than investing and your very right about this. In fact it's necessary we build our emergency funds as we accumulate bitcoin or even before we start our accumulation journey. |
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5) I was not thinking that rank would necessarily be a category - because I doubt that there would be any need to compete.. but then maybe the number of days could be the rank rather than the number of pushups.... but yeah, sure there might be some interest in the number of pushups, even though some guys have already stated that they were more interested in quality rather than quality, but we still might want to consider consistency, so the number of days could be a kind of ranking, so if guys are missing days, then they would ONLY report the days that they were doing pushups and not the number of calendar days, because the days might not count if they were to be days in which no pushups were done on those days.
Ranking would definitely cause some level of competitiveness which would deviate us from the main purpose of this challenge which is to help have a healthy daily routine of exercise while we support bitcoin. Some of us might start to feel we are not doing our best when the idea was to do as much as you can and remain consistent at doing it. The idea of having a table is nice for record keeping, and this could help motivate others to want to be a part of the exercise and to know how much you have been doing so far and it would remove the stress for those that has not been keeping a personal record of how many pushups they have been doing. |
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And maybe because there are some shitcoins that are tempting, but if you don't do a thorough analysis and don't do it well and don't follow it from the start it will be in vain and very risky.
Come on mate, there are no amounts of researches that can be convincing enough to get involved in shitcoins, they are just there for distractions, Bitcoin has proven to be the best in all ramifications and there is no way we can make any form of comparisons or make it looks like Bitcoin irrespective of the level of researches and analysis. Don't forget that supply has a major role to play in the market, Bitcoin has a limited supply of only 21million, Bitcoin stability and entrepreneurship are far better than any other coins or is it about it's network effects and security Bitcoin are far better than then all, but however as JJG will always say that don't do more than 10% involvement in to shit coins as compared to the size of your Bitcoin investment which is a very nice advice at that. There is no degree of researches and analysis that will make shitcoins involvement any less risky as when compared with Bitcoin. Even though shitcoins only exist to divert attention, they have given people the opportunity to own Bitcoin by trading Bitcoin altcoin pairs or stable coins so they can buy Bitcoin. However, Bitcoin has proven to be the best compared to altcoins, so Bitcoin is still someone's main investment target. They can use shitcoins only for smaller portions or for daily trading while they invest in Bitcoin by accumulating it using DCA. They can use the profits from trading altcoin pair Bitcoin or stablecoins to buy Bitcoin. That is one way to own Bitcoin, and it can also be used to carry out the DCA method. But we have to remember that using shitcoins has a big risk because we don't know which shitcoins can provide profits, even though we can analyze them one by one. Not many shitcoins are able to survive for a long time while Bitcoin has proven to be able to survive for a long time. I can't agree with you on this, shitcoins are risky to indulge in and I don't see how that is a good and reasonable opportunity to get profit from to invest in bitcoin, this is really gambling and as we know it gambling can be addictive and yeah someone might be delusional thinking that if he invest in shitcoins or trades it he would use the profit to invest in Bitcoin, he might also likely chose to continue in that path of getting quick profits and eventually wreak himself. I don't know if you were trying to say that if we must indulge in shitcoins that it should be at most 5-10% of our portfolio and this was only suggested for those that can't bear to stay away from shitcoins and at times people can't control themselves and would also want to invest more and more until they may find themselves investing more to shitcoins than even Bitcoin. I won't be advising anyone who is just starting out his investment journey to be induging in this kind of activities cause it could be a major distraction for him and also wreak him if not careful, a better advice would be stay away from shitcoins and focus on building a solid portfolio with bitcoin and if you hold for long term you could well get even more profits than you could have made from investing or trading shitcoins, although they is no accurate guarantee that it might work out, but least it has a better chance than any shitcoin. some years ago specifically the early days of BTC one will tell you that holding enough of Bitcoin was risky, but that can't be said of it today, as it has gained more values, the same goes to other shut coins buy when there Is a drop in price, hold as many as you can , and maybe later in future you don't know what will happen, When Investing in shitcoins you just just invest like a life savings in shitcoins, because you can't predict the future of that shitcoins, but a life savings can be invested in BTC given that the future of Bitcoin is already bright, for newbies DCA strategy can maybe be suggested to them, holding coins for a long term really pays on a long run. Your take on this isn't right at all and carry a lot of misleading information, how can you advice someone to invest in shitcoins just bacuse we can't predict the future, shitcoins are too risky to indulge in and consider putting someone's life savings in it is an even worse idea. You can't compare shitcoins to bitcoin in any way, investing in bitcoin is more safer than investing in shitcoins, you should better stay away from shitcoins unless your ready to lose all your holdings to it. Yeah you might be right about the uncertainty with investment, but let me make this clear, would you rather invest in something that has more probability of working out or gamble with something that you can't even tell if it woudl survive the next day. The reason why we still allocate some level of uncertainty to bitcoin is because we Don want to sound too optimistic about it and yeah life can happen and it can affect bitcoin too and the lowest possibility of investing in bitcoin is your investment not giving you any returns or returning to zero and that's why we rather invest with our disposable income, but but the same time no one wants to invest in any thign without some expectation of profits, and bitcoin historically have a good background so it's a better bet than any shitcoin. |
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Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after, the said coin drops in value, or someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?
Every time is always a buying time for Bitcoin so far as you are a long term investor, you will surely make profits in the long run and for me the best time to sell is when the price have surpassed previous ATH then you can decide to sell part of your coin but it must not be all because you can sell your coin when the price gets a new ATH and afterwards the price increases further but the best time to buy more is during the bear season then you can use the DCA to keep accumulating on a regular basis. Bitcoin investment is a powerful asset, this asset can be left for the future and future generations. Because this digital asset will seem modern as it moves into the future. Bitcoin is created in such a way that it holds the highest position among digital assets. So no investor should neglect to hold this asset for a long time, everyone should try hard enough to hold Bitcoin as it is a huge and valuable asset in the future. So if one can't save it by accumulated money then surely you try to hold it for long time using DCA method. The only way to hold your Bitcoins is through the DCA method. and how long can you be able to hodl, your ability to have a sizeable Bitcoin investment and your ability to hodl as long as possibly 5 to 10 years or more, you can lump sum, or use the dca method or probably combination of both and this will tailored down by each investor in such a way it will suits them in terms of physiological/financial situation including their investment goals and objectives such that what the question Will be at the end of the day will be how much of Bitcoin do you have and how long can you be able to hodl. You know any method we use in accumulating bitcoin has an impact on our portfolio, from my research and observations the DCA method helps reduce the impact of market volatility on our portfolio and unlike lump sum that is just a one time whole buy and if you had bought in a very high price when the dip comes yoir portfolio would be on a big lose although not permanent but for newbies just getting into bitcoin that could be quite the headache for them, so the DCA strategy would be a better accumulation method for a newbie cause he would have to worry less on how his portfolio is doing and just focus more on buying only. Yeah everyone must figure out the best way they which to accumulate that suites them based on their financial capability, but any strategy can be used by anyone and its not as tho the DCA strategy is only for people with little capital, its just dividing your capital into parts and buying at intervals, so even someone with huge income cam use it and still be very successful at it. |
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[edited out]
But at in a case where we feel we have too much of cash around in our emergency and reserves, would it be wise to put some into bitcoin when, let's say I'm having over a year of emergency funds and I feel I have too much of cash kept lieung around could I put at least 10% of that into bitcoin or keep or working for, like diversifying into some other asset ? Most at times poor people have limited resources and if they end up putting too much than they ought to in bitcoin without keeping their emergency funds, they could end up wreaking themselves, keeping emergency funds in other asset would not be a good decision if we are not well established at least in having enough resources or if we don't have other asset that we feel we can liquidate if an emergency comes up and how quickly we can get that cash to solve those problems when we need them. So I understand why you said that poor people should have their investment in both bitcoin and cash for now so that they can focus on growing their bitcoin investment first an it makes them rich and also having aeons to insure that they won't sell it off so soon. A rich person can equally afford to start investing in two asset at once and it won't be a problem to him cause he is well able to in resources and it won't be a problem for him to build an emergency funds that would be able to cater for both assets, but when someone has limited resources it is most logical to live within that means an besides if you can find ways to limit your expense we can have a lot of extra cash that we could use to invest in bitcoin without having to dip from our emergency funds, so I think it's better we actually find some ways to increase our sources of income and have more resources available to use than to use our financial cushioin to invest and remove our insurance. |
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~ But I already mentioned the idea that the cash in your emergency fund.. perhaps up to 3 months expenses is likely going to suffer from not earning any interest or growing but instead ongoingly shrinking in value, which means that more and more funds will likely have to be added to the emergency funds and if you are lucky (and you don't have any emergency), then you may well end up ongoingly maintaining an emergency fund for 20-30 years or longer that continues to get larger and larger in terms of its nominal dollar value, but none of that money (up to around 3 months of your expenses) is earning any income nor interest, just continuing to debase in its value.. but it is a cost of staying safe and hoping that you actually never have to use it.. but it is also likely keeping your rich too. .because you would also never have to touch your BTC investment (or any of your other investments) at a time that is not completely of your own choosing.
Let's say that you spend 20 years investing into something like BTC at 15% per year, so after 6.67 years, you have invested a year's of your income, and so after 20 years you have invested around 3x of your yearly income, but at the same time you have continued to maintain at least 3 months of an emergency fund and sometimes you would have an extra 6-18 months of reserves and float, and so much of that cash was not really working through the last 20 years, but hopefully your bitcoin was working during that time and sufficiently made up for the fact that your various forms of cash were not working.. and you can do these kinds of calculations to figure out whether it was worth it to maintain these various systems including calculating if it would have had been better to use your BTC and/or your other investments as your emergency fund, which surely is a kind of sloppy behavior that we see people do and we see normies get reckt as fuck too and they end up having fun staying poor because they never get ahead and they are always gambling with their money.. so by the time they maybe could have had been to fuck you status, instead they are having to work until they die and they also might not even be able to increase their standard of living because they failed/refused to properly invest and/or to properly protect their investments.
Having cash around isn't such a bad idea as long as it would keep us rich and protect our bitcoin investment, we dont want a situation where by a health challenge uncalled gor happens and the only option around is to sell off some of our asset, the thigj about emergency is that we don't know where it would happen and we don't know how much expenses it would cost us to solve such a problem, so keeping huge amount of emergency funds or allowing your emergency funds to grow over time is not such a bad idea in general and it worth it even if we have to pay the price of knowing that we woudl be earning no interest from hoarding fait or keeping such huge cash around us. But at in a case where we feel we have too much of cash around in our emergency and reserves, would it be wise to put some into bitcoin when, let's say I'm having over a year of emergency funds and I feel I have too much of cash kept lieung around could I put at least 10% of that into bitcoin or keep or working for, like diversifying intonsome other asset ? I don't think you need to have cash to keep yourself rich. If you have a heavy enough portfolio of bitcoins you have solvency enough. Because since you have invested in Bitcoin and are with it, it is the foundation of your own and family's economy.Your cash flow will determine what you should do even though I think most of these funds don't last more than 2 or 3 months.Your health insurances are by your side, and if you want to do something big on a budget like buying a house or buying a car...I'm saying these are essential but that's not what emergency funds are for. If you have enough cash, instead of keeping 10%, keep more like 20% to increase the digits in BTC portfolio. Keeping the emergency fund a year seems pointless. If you want to diversify, Bitcoin DCAing strategy is easy for you. You guys fail to read through people's post, he is rather trying to explain how keeping cash and emergency funds around would help your bitcoin portfolio excel since its a guarantee that you won't be touching it or selling sooner than it reaches its maturity, you know we plan on holding bitcoin for up to 4-10 years for minimum( although this should differ based on individual preference and situation, like age and how long they want to keep on accumulating) and up to 20 years if you are even younger, so what would be the guarantee that within this period you won't sell of your holdings, you can't rely on discipline or mere passion to do that, although this are necessary the only way to actually have an insurance that you won't sell of your holdings is by having emergency funds around that would help you in cases that would have lead to you selling of your bitcoin, let's say a health challenge or an accident or my be property damage that you need some money to solve and if you don't have any emergency fund around, you would have no other option than to dip into your bitcoin and if you are still early you might end up selling everything off. Although it's left for everyone to figure our balance for ourselves based on our situation its good to have at least 3 months of emergency funds around as a financial cushioin to be safe. Ultimately you have to figure out your own balances that relate to the various resources that you might have available to you, how steady is any income and/or expenses that you have and how likely are you going to end up needing the extra funds, because the emergency fund, once you establish it, you should not be dipping into it. It would just be there and always available. Of course, since you do not want to our need to dip into your emergency fund, then many of the times if you might have shortages of cash, you would be working with your reserves and your float.. so yeah you gotta figure out how much of those various categories to keep available, and surely the larger your BTC stash gets, then that also might affect the extent that you might feel that you need to be diversified in other assets... whether that be in cash or otherwise.. .. sometimes we could think about various other forms of investments (besides bitcoin) as ways of holding cash in different kinds of ways and to be able to earn interest or yield or dividends or that it might also appreciate but be something other than bitcoin, even though bitcoin and cash will tend to be way more liquid while other forms of assets may well be less liquid, but holding value in various ways will give you options to spend from the less valuable assets prior to touching your bitcoin in the event that you might conclude that bitcoin might be the best of your investments that you don't want to touch or being playing around with until it reaches a certain size in which you would thereby start to authorize yourself to start to dip into it. within systems and under circumstances that you have already established for yourself, once you get to such an overaccumulation level that could take 4-10 years or longer just to build your BTC holdings to such levels.
Thanks for clarifying me on this, I think I have to my own calculations and know how much I would be able to give to building up my emergency funds, from your explanation I understand the importance of having emergency funds around to keep our holdings safe from any situation that would potentially lead to selling our bitcoin, once we have our emergency funds up to three months of expense in, we won't be touching it unless it's an actual emergency, so it's more like an investment insurance for our bitcoin. |
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.....and other thigns like having an emergency fund which at times would take 3 months or 6months of income to build and having reserves and floats to carry around that would help us have a financial cushioin and maximise our investment in bitcoin.
I understand what you are saying, Dorkylickjj .. but it is still unclear.. Technically, you are correct. An emergency fund it 3-6 months worth of income - yet more accurately, an emergency fund would be 3-6 months of expenses, and sure if you build up an amount of an emergency fund that is actually 3 months of your income, then it likely should end up going a little bit longer than 3 months - depending upon if you might be able to reduce your expenses during any actual emergency that would end up taking place... and if anyone ends up having an actual emergency, he likely is going to dread if he were to ONLY have 3 months and wished that he were to have more, yet we know that it likely tends to take quite a bit of resources to build up an emergency fund, even one as small as 3 months.. yet it is something that really provides a lot of security and ability to take greater risks and to be more aggressive in terms of investing into something like bitcoin.. .. Another thing is that many of us likely imagine that if we are brand new to investing and we are living in a way similar to many people, we might start out with only 2-4 weeks worth of float, reserves and/or emergency funds, and so we might have frequently considered that 2-4 weeks is quite a bit of "extra cash" just sitting around and just there for various shortages in cashflow, and we might be able to get by for years and years and years with such pracices of sparsely maintaining savings and/or any emergency fund. So if we are wanting to build up our current emergency fund, float, reserves to be at least 3 months and likely to have a bit more than 3 months in there, then it well could take us 6-18 months to build it up to such higher levels.. .. just depending on how much discretionary income that we have and if we might simultaneously be wanting to get started investing into bitcoin and building our emergency fund, reserves and float at the same time that we are making our earliest investments into bitcoin and sat stacking. I think I'm getting closer to having a better understanding of this, the larger your emergency fund is the more financial cushioin you have for investing into bitcoin and let's say that I have been building up an emergency fund for up three months from my income like about 5% going into that and I'm investing a total of 15% weekly into bitcoin, then my emergency funds would actually need a higher time to mature to be a good financial cushioin for me in my investing or do you feel its a good idea to make them equal, allocating equal amount to both building up emergency funds and investing in bitcoin, since my investment is technically unsafe if I don't have a good emergency fund, and yeah I'm just well above 20, still in collage so I don't think I can cut down my expenses any further than I am able to. |
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To me I actually think that having an investment goal is quite appropriate because as common man that just want to secure his or her future true Bitcoin, he just have to accumulate Bitcoin true the DCA method still he is satisfied with his or her current holdings, so when that target is met, the next question he should be asking himself is when is he willing to sell, like the numbers of years he is willing to hold or the amount he would be selling if the price of the asset in his possession reach that particular amount, so to me, investment goal should be made a priority, like if you are buying Bitcoin for retirement purpose, it's still good, as long as you have a specific goal in mind, because not having a specific goal in mind sometimes makes you act confused concerning your investment sometimes, because you don't have a specific vision before investing.
Before investing in Bitcoin we need to have a specific goal and plan. For example suppose many people invest in such a way that they want to invest weekly or deposit bitcoins and there are many people who want to deposit bitcoins monthly even their amount of money is different. Everyone's Bitcoin investment plan is different, some may want to deposit more bitcoins and some may deposit less bitcoins. I think those who don't have a specific goal or plan about their investments are either haphazard and can break or sell their investments at any time. So before we invest we need to focus the goal and set a specific time frame for how many years we will hold our investment and accumulate bitcoins accordingly. If we can set a specific time frame for our bitcoin deposits and keep depositing bitcoins every month or week accordingly, maybe our investment will gradually increase and we will be able to reach our specific goal. Planning with a clear vision is easy but implementation is difficult because there are many things involved in the money you earn.But DCA strategy for depositing bitcoin is very easy to implement on daily or weekly or monthly basis. The desired investment success from bitcoin depends on proper and well thought out planning. Long-term investment planning is the key to bitcoin success. That's why it's very important to have a clear goal in mind before venturing into Bitcoin investment because their are so many things that needs to be in place strategically for you to be able to hold effectively, something like having an emergency fund and also having a source of income so as to be able to sorts out your pressing financial needs, and you wouldn't have to look at your investment at any pressing financial issues, because while Investment is a different thing, holding on to your investment is another thing altogether, so it's very important you prepare for the unforseen circumstances that may affect your investment in one way or the other, so not having an investment goal is not a nice thing as an investor that intends to be successful. Investing should not necessarily mean profit. You will get some sort of return from the investment, may be dividends or may be learning. Not everyone succeeds in investing all the time, some succeed and some fail and learn from failure and move towards success. But one should not invest in a situation where he has no source of income and is totally dependent on his investment.I don't really know if you mean that we should invest with a mindset that our investment might not also pay off and we should be ready to take full responsibility for such outcomes and prepare ahead of time, but to me the possibility of our bitcoin investment not to give us any return or to return to zero is quite small although it is still something we must have in mind. Investing when you are not financially stable is a very big gamble and would put you a lot of pressure, in fact it's not possible to hold bitcoin if you are lacking in some kind of way and are not able to take care of yourself, and that's why we normally advice that you should invest with your disposable income and with money you won't miss, so for this to be possible you need to have some extra after expenses and then decide to save it in bitcoin, yeah and other thigns like having an emergency fund which at times would take 3 months or 6months of income to build and having reserves and floats to carry around that would help us have a financial cushioin and maximise our investment in bitcoin. |
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We invest in Bitcoin and many use a variety of strategies. My strategy is that I split the hold into two sections. And the first hold is until the 2028-2032 halving (more likely longer if needed), and my second hold is for every halving bull run. I am thinking of keeping the hold which I have followed the DCA method till the year (2028-2032) of course. This is how I plan my investment strategy according to the road map.
Every crypto investor has a strategy for their Bitcoin investment. Your strategy is good, although it is different from mine and mine can be different from others, and we are pursuing to arrive at the goal of making future profits from bitcoin investment no matter what our strategy is and how long we hodling bitcoin for. My strategy is to sell some parts of my bitcoin holding next year and start to apply a DCA strategy to accumulate bitcoin back during the bearish market because it is expected that after the bull run comes a bearish market. That is, after this bull run(2024/2025) what follows is a bearish market. What's the need of selling your bitcoin holdings on such a probability that might never happen, how wiudl you know if we would be bearish next year, while it is true that bitcoin has its cycles, it is even more true that it is very unpredictable and trying to be too smart and trying to engage in buying and selling practices is just gambling or even trading, and worse you might never get to opportunity to buy at the prices which you sold off your holdings, I think your underestimating the power of long term holding in terms of profit. DCA works better when you are buying consistently over time and that's how you have an advantage over volatility not selling your asset just to make profits. |
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