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No matter who you take advice from when it comes to investing in Bitcoin, everyone will advise you to invest in Bitcoin for the long term. Because not everyone can buy a large amount of Bitcoins, they want to stretch their investment for a long period of time so that they can accumulate small chunks that will eventually turn into large chunks. And you say some people may not know the difference between long term investment and short term investment yet but I think those who have reviewed this thread well on Buy the DIP, and HODL must have known about this difference and even they have come to know how Bitcoin is long termmust keep.
Investing in Bitcoin is currently not a difficult thing, but we must have sufficient capital in this field so that we can start with confidence This mindset of thinking that one need to have so much money before investing in Bitcoin have ben my worst mistake. What this did to me was that instead of investing my little capital into Bitcoin, I decided to trade with the hope that the profit I made from trading will be big before I can then buy Bitcoin and HODL. Unfortunately, I lost a lot of money and wasted a lot of time. The painful thing is that I missed buying Bitcoin at very low prices even if with those money I put into trading which I thought were too small to be invested into Bitcoin. There are still people with this mindset that want to buy big quantity of Bitcoin at once without knowing that they can actually buy in small quantity and somehow make it a regular pattern. Then I would have comfortably been able to invest $50 weekly and still live comfortably but I blew that chance because I wanted to buy 1BTC or something closed to that at once. Investing in Bitcoin is currently not a difficult thing, but we must have sufficient capital in this field so that we can start with confidence and that alone is not enough, we have to switch and also increase our knowledge about this, Bitcoint is a program which is good and must be maintained for those of us who want to start or learn to invest with bitcoin, this will be an effort or breakthrough for those of us who have insight into this matter to start getting something that we can start small and maintain it for something that will become big.
Bitcoin investment is a risky investment with high volatility expecially when you buy and hodl for a short term, and one also need to have some basic knowledge about Bitcoin investment before wanting to invest in it remember that what we don't know is always difficult compare to what we know. The volatility of Bitcoin does not present any risk for real investors that want to hold Bitcoin for long time. It is only traders that worry about the volatility of Bitcoin because they buy, set stop loss and hope that price move to their take profit. Bitcoin being a volatile asset most times hit their stop loss before continuing to move in the direction it wants to move. When talking about investment, it would have been better to remove trading from it and concentrate on long time HODLers, and you will see that Bitcoin is not even as risky as most people think it is. |
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So it's that time again, the price of Bitcoin goes below $60k as per cmc,   If this is not dip, then I don't know what we should call it. This, in one part, is a test for those HODLing and another part an opportunity for those who want to accumulate more BTC. What each individual do at a time like this shows the level of believe, wisdom and commitment to Bitcoin. For me, it is an opportunity to buy more and not to despair. As far as diversifying in crypto? I don't think it's advisable, just focus on BTC and I think it will be not as stressful as having shitcoins or meme coins in your portfolio as we all know that those are really hard to hold and obviously can be used for pump-and-dump scheme and you don't want to be a victim. Nothing against those who invest on them, but you should know what you are doing, so that you can mitigate the risk.
The concept of diversification always sound funny because I don't know what is there to diversify when Bitcoin is already a treasure we all aspire to have in our possession. It is only those who have been overtaken by greed that will think that buying other coins is diversification. Their motivation is usually to make big profits but often times then end up losing their capital. Bitcoin drives the market so every other thing follows the direction of Bitcoin so I find it strange for anyone to leave the driving force and focus on irrelevances. But if you only invest on Bitcoin, it's not that complicated, DCA, accumulate as much as you can, stack sats just like today as the price is going down, continue and have patience and wait till we reach the top next year. And if you wanted to take profits then sell, if not they continue what you are doing in the next cycle, rinse and repeat. You can sleep at night without worrying of your investment.
The DCA pattern is absolutely the way to go especially in a market that is undecided like we have had lately. With the DCA style, it will be possible to continue to buy more BTC without being worried about the price. At this lower prices, it means the DCA style will even give more Bitcoin to buyers which is like advantage to when the price was very high. |
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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.
What you said is true, but telling everyone to adopt the strategy is not the best thing to do. This strategy is mainly for rich investors who have enough money to take care of their unforeseen problems without thinking of selling their bitcoin portfolio. But if investors who are not rich are more concerned about buying the bitcoin dip and still accumulating bitcoin with the DCA strategy, they might not have enough money left to take care of their unforeseen problems, and they will have no choice but to sell their bitcoin portfolio to solve them and survive. This is where the DCA strategy will play a major role for those who do not have enough money to buy the bitcoin dip. If you are accumulating bitcoin with the DCA strategy, it will allow you to buy bitcoin even when bitcoin is at a dip. What I understand by the comment is not telling everyone they must adopt that method but just explaining the method and also making recommendations which is normal and up to whoever is interested to either use it or leave it. Personally I find substance in that recommendation of using DCA method combined with buying the dips. I remembered when Bitcoin was hovering around $26,000 for several weeks before it fell to $20,000 and even continued below $20,000. An investor with $10,000 to be invested in Bitcoin can decided to keep like $3,000 for buying the dips while the balance of $7,000 is divided into several equal parts to be invested using the DCA method. What this mean is that a good portion of the DCA amount would have been converted to Bitcoin during the $26,000 range whereas during the dip below $20,000 $2,000 was bought and when it dipped below $18,000 the balance $1,000 was bought, this will result in overall increase in the amount of Bitcoin gotten from this approach far more than the quantity the DCA method would have given. Like many people already stated, this method is simple to apply and seems reasonable for all types of investors. Glad to be back to this discussion, so much information to learn from. |
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There are probably better HODLers than me, and I consider myself a bit of a contradiction because ever since mid-to-late 2015, I started to put into practice a sell on the way up strategy, and when I first started doing it I made quite a few mistakes, but I have honed my system several times over the years.. and there are quite a few members who criticize me for such practice with claims that I should not sell any of my BTC, even if I am saying that I have it already figured out in such a way that I can sell and that I never will run out of BTC.
I understand the resentment that comes with selling Bitcoin especially when you make it public. I think it ought not to be because without buying and selling, the natural sequence of buying and selling will be distorted and it becomes difficult to measure the liquidity of Bitcoin and impact of Bitcoin. Selling of Bitcoin is not bad but how you go about the selling can actually turn out to be harmful to your asset and at variance with the very reason you accumulated the Bitcoin. Every Bitcoin investor will, at some point, think about how to liquidate part of his assets for the funds to be used in other things that make life worth living. The selling can be in such a way that the investor does not run out of BTC, just like JJG recommended in his withdrawal strategy that I am still going through. Many of us may not know the power behind that piece of information because we are still probably in the accumulation phase. But a time will come that we will need something like that to be able to withdraw some of our Bitcoin without harming the entire portfolio. |
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Same thing can also be said for those who are using bigger or more than one gadgets but don't have any investment in bitcoin. When you ask them why they don't own a bitcoin they will say I don't have money to invest but, I will invest when money comes. Why wait for when money will come when you can dispose one of the phones. For instance someone using iPhone 14 or 15 with a Samsung phone and is still waiting for money to invest in bitcoin. Such a person can sell one of the phones and use the money realized and invest in bitcoin. He/she will still have one phone left and his life won't be negatively affected and he has also started his bitcoin journey. When more money comes in he can keep buying more. Instead waiting such person has taken action in the right direction.
I don't know why people do that but I have seen a lot of them probably just to show off and impress people who in reality are not even looking at them. Societal pressure have made some people lose their senses and it is quiet unfortunately. If I knew what I now know in my few months of being active in this forum, I know where I would have been with my Bitcoin investment because most of the money that entered my hands were spent on things I do not even remember. Then I could have comfortable be doing $10 weekly DCA and by now it would have amounted to something significant. Well, I'm glad to be started the journey now, I believe it is not yet late to build a Bitcoin asset. I just have to discipline myself to follow all the rules to successful investment and holding of Bitcoin and see what the future have for me. |
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Patience is always the key not just in long term hodling, in trading, but even in studying and understanding the forum as well. If you are patient, you will absorb all the information needed to make you a quality poster, a good investor and a reliable trader as long as you do your own diligence to research and study. So I totally agree on you OP, not just newbies but all those who want to take risk in the crypto space should have high patience to gain their innermost desires and goals set upon entering crypto.
Just embrace patience in that coins you are hodling or trying to buy from the market and you will see the benefits of patience and you will like to always wait for the right bull to come before you can sell to make money that will give you courage to buy again when another bear occur. The reason why OP mentioned newbies is because newbies always fall victim to such things in the market to loss some money in trading and, they need to start exercise patience in hodling whenever they succeed to buy coins from the market to stand in a chance to achieve something big in the bull market. Don't advice anyone to be patient with any coin that is not Bitcoin, most of those coins dies with time, the are only valuable until those who created them finish selling theirs. The worst thing that can happen to anyone is holding coins that are not worth anything. If being patient is with coins like Bitcoin, then it is worth it because Bitcoin will always rise as time goes on. For those who want to gamble with altcoins, the can consider selling as quickly as they can before they regret holding a bag of air that will evaporate at any given chance. |
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The top Bitcoin competitor is centralization and anti privacy activities by Bitcoin holders. Giving your Bitcoin to the government to help keep safe is one way to indirectly centralize/regulate the network.
Seems the author is more concerned if another coin can be developed or already in existence that will rival Bitcoin and present some better alternatives. In the aspect of government crackdown on the privacy issue of Bitcoin, I think it is something we have to live with because as it stands it is obvious the governments will always win. Most people are now using exchanges because of high fees, ordinal attack and other issues of recent have discouraged a lot of people from integrating Bitcoin payment into their businesses. The future is really uncertain as it has to do with Bitcoin. |
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As a long time hodler why do you need to be bothering yourself with watching the market? Your sole purpose is just to keep buying and don't let your attention be bothered by market activities. If your goal is to accumulate and hodl for 6 years and above, then the market timing is not something you should be bothering yourself with. You should just be concerned with getting steady flow of liquidity to inject in bitcoin. Any price you meet bitcoin when you liquidity is available you buy. Let the day traders bother themselves with the market timing.
Bitcoin market is volatile which can create different sentiments at any time among those who follow the market. Those who are committed to long-term holding would definitely do well to keep an eye on how to further diversify their portfolio. Those who understand the value of Bitcoin see the dumping of Bitcoin as an opportunity for them. Those who are short-term investors may be happy with small profits but a Bitcoin holder usually dreams big. Are you saying that buying other coins in addition to Bitcoin is really diversification? I do not agree with you on this one because Bitcoin is enough to avoid mistake. I think the main focus of most of the people here is how to build their Bitcoin portfolio and not diversify into other coins that you are not sure if their founders will dump it and run away. Many people have lost fortune investing in coins they were convinced will give them big profits. I expect you to learn from the mistakes of those people and concentrate in building your Bitcoin portfolio rather than thinking of diversifying when you are just exposing yourself to danger. |
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Hello
does it make a difference if the sender tranfers BTC funds to my Wallet address or to my Public Key?
Thank's in advance!
The question is not clear. To receive Bitcoin, all you need is your wallet address, which you will send to whoever is sending you the Bitcoin. Every other information apart from your wallet address is your sensitive information that you should keep within yourself and never disclose to anyone. Of course, your wallet address can be public, and that will not be an issue. |
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I love bitcoin but land is still a good investment than all the others in the choices, it's a piece of investment that you can build your house on it or create a rental property or something like that and at the same time it's a guaranteed growth even if there's a loom of a real estate bubble, there's no way that you'll lose on land. That's just me though that believes that, bitcoin's growth in 15 years is too big even for real estate so buy bitcoin and hodl but find ways to get more investments.
Choices differs and I think that is what is playing out. While many people will prefer tangible assets like land, many will chose Bitcoin. Personally I will go with Bitcoin because if you give Bitcoin like 10 to 20 years from now, it will most likely grow to the extent of buying the land with a house at whatever price it will be then and you will see have some balance. I read somewhere that CZ sold his house to buy Bitcoin, today he can buy many of such properties with the proceed from his Bitcoin. It may not be like that for everyone but I know that Bitcoin will surely grow as it continues to experience halving every 4 years. This means it will always be a reliable investment that is inflation resistant and bound to rise with time. |
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Maybe some people still don't understand some of the pressures that have been said previously for this reason, so there are still people who immediately rush to invest in Bitcoin with only minimal capital and their own intentions and determination without considering emergency funds for themselves in life. Because logically, emergency funds are needed to be able to maintain the Bitcoin that we have previously purchased so that the amount of Bitcoin that has been saved will not be disturbed by bad things in real life.
So this needs to be well understood by everyone who wants to store Bitcoin more comfortably by implementing purchases in several stages or by implementing DCA as has been done by many people at this time. In my opinion, Buy the Dip, and Hodl can be done by everyone by making stages or by DCA as long as everyone has prepared emergency funds so as not to disrupt the previously determined Bitcoin purchase plan within a certain time.
Though it has been discussed here severally that emergency funds should the number plan of an investor so that his Bitcoin portfolio will not be tampered from time to time, but I want you to understand that if an investor is waiting for huge of emergency fund he won't be able to invest in Bitcoin. I think the remedy to this is that, the investor should set his plans with the available fund, keep the emergency fund aside and do the needful with the remaining fund because, there suitable strategy for everyone here, that's why it has been said that invest with the amount within your reach and as your income keep increase, you accumulate more. An existing or incoming investor that experienced the dip period should buy but am against waiting for the dip itself because it might t favor you as you calculated. Your statement is very correct because if an individual want everything to be so perfect before they invest, they will most likely not invest. In economics, we were thought that human needs are insatiable. This means the more you try to satisfy your needs the more new things comes up. Besides, technology and innovation is improving a lot of things so every now and then new and better things comes up. This is the reason some people change their phone as soon as new model is launched like in the case of iPhone. To be able to invest in Bitcoin, we must know where to draw the line between what is most important and what is not. There should be some level of discipline we must imbibe for the greater good. For instance, if I already have a phone that is fine and can do main thing I need a phone for, no need of changing it to a higher version that can also do the same thing when I can simply use the money and buy Bitcoin. Such a phone is not a basic need, so it can wait and that craving will just be one of the sacrifices I have to pay to be able to invest in Bitcoin and secure my future. So it is important to identify the basic needs, set some funds aside for them, keep some for emergency and then one can start investing in Bitcoin. Other things can be varied and must not be done so one can actually build for the future. |
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This is very important and should be use first before making any post or commenting this help a lot in editing your post and replies.
I gist this some best ways also to feel free when writing or editing text.
It’s has been for help to top and higher ranks on the forums.
It also serves as pen and paper when you are not close to them
It is very useful to in the laptops,desktop
It can be esay use when you have some writeups to make.
What's the point of using that when you have the preview tab which is to enable you see what you want to post and how it will appear on the forum, this way you can check for errors in spelling, grammar, quotes, image and so on. Notepad does not show these so I don't see any need going through that lengthy process for something the forum have a better option. |
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These are nice articles for sure but none of them have the balls to properly address the biggest scam in the industry which is proliferation of shitcoins. People have lost more money investing in shitcoins than to hacks yet no one is able to face the reality that most of the token being created are all intended to steal money from people by giving them garbage in exchange for their money. The real scam is these tokens that are rolled out everything with huge funds committed to their marketing through adds, influencers and even these websites where these articles articles are posted. The only way out like the OP said is to invest only in Bitcoin. Bitcoin have been there and is evening gaining more attention than ever. Anyone selling anything apart from Bitcoin is surely not helping matters. |
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Another DIP buying opportunity might be coming! I'm not sure how low, or if this correction continues to fall under $40,000, but buying some Bitcoin with any sort of discount should definitely be "greeted" with open arms. Don't miss the opportunity!
"I'm not sure how low" , this is the problem with buying the dip. The confusion, the anxiety, the FOMO and all manner of unrest are what make me so uncomfortable with buying the dips. You could buy $42,000 and price drop further to $40,000 and further to $38,000 and even more. In this case, which is the real dip and when will it stop going down? This seem complicated for those of us trying to have a hang of this. Having learnt about the DCA method and how to apply same, I've concluded that it presents the answers to these troubles of contemplating when to buy, hence, the reason I have been using it to build my BTC asset. It could be slow as I have to wait for the time I set to buy again, but I noticed some level of discipline in me ever since I started. I'm calmer now, not in a rush and I spend more time doing other things rather than watching the chats. I must admit that the DCA method is great. |
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Here is my Andriod App ReviewUtopia is a great app that is very easy to use and does not require so much technical knowledge to navigate. I could easily do a lot already including sending and receiving cryptocurrency as well as swap at a good exchange rate. The AI is another great addition that make the app sweet to use. The chat function is good as well as I was able to get response to comments. I look forward to seeing more features added to this app like P2E games. Link to screenshot is below: 
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The investor may not be happier than the profit after investing.
From the way 2024 has started, we can imagine that 2024 is going to be good for the Bitcoin market compared to 2023, so now we should pay more attention to investing instead of saving money unnecessarily or keeping cash for ourselves and spending that money. I invested regularly from now on, maybe by the end of 2024 we will see the Bitcoin market double from the current level, but the investment will be ours.
Overall 2023 was a good year for bitcoin and bitcoiners. You are right, 2023 was one of the best year for Bitcoin and Bitcoin investor. The behaviour of Bitcoin was predictable for those who cared to check, so it was easy for all types of investors, be it long term and short term, to achieve their aim. Bitcoin lingered so much around $26,000, giving many people the opportunity to buy as much as they could for those that buy the dip, others that use different methods also had the chance to buy. Everyone also expected that Bitcoin was going to rise towards the end of 2023 and it actually did. So it was indeed a great year for Bitcoin and Bitcoiners |
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There is never a wrong time to buy Bitcoin because the price will sure go higher and higher as time goes on. Now is even good to buy because the price seems low for a pre halving month.
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About trading, some traders are not only making a living out of it; they also have other things that fetch money. The reason is that in trading, you don't get success from all your invested amount; some times you experience losses, and if you are only depending on the profit from your trades, you might be under some kind of financial pressure.
There are a good number of traders who are trading full time. If you master the skill, you don't need to work. Trading is highly profitable if you are able to master the skill. Some of the richest young guys that I know are actually traders. Many of them only hedge against risk by using their profits from trading to buy Bitcoin as well as stock. Yeah.. sure there are some traders who may well be profitable.. but this thread is mostly "anti-trading." In this thread, we are really trying to explore the ideas that come from long term strategies that don't fuck around with trading and/or don't even expect to make more BTC by trying to sell higher and then buy back.. So the thrust here is to focus upon various buying strategies, and if we might run out of money from time to time to merely HODL. Yeah, sure quite a bit of our discussion has been going outside of the range of the core aspects of what might relate to the overall thread topic of buying the dip and HODLing that also has quite a bit of attempts at long term BTC strategies too.. whether we are hoping to build up our BTC stash from time to time or maybe just HODL long term with BTC that we acquired way earlier in time.. and sure there could well be more validation to the idea of buying BTC on dips when we might buy a lot of BTC in big chunks and then just wait it out by building up our cash over long periods of time that would thereafter attempt to prepare us to have more cash available for further buying on dips when the dips seem sufficiently significant in light of cash that we have been building up .....and surely there is a bit of a presumption that we are getting the cash to build up through various means that do not relate to selling BTC at higher prices.. even though surely there are likely other threads that focus on that kind of thing but if we want to at least attempt to somewhat stay within the theme of this thread we should be attempting to focus on various accumulation strategies and we should really be attempting to avoid talking about the various kinds of trading and/or selling strategies in this thread.... especially if part of the premise and perhaps assumptions for selling is the belief that you might be able to gain more wealth that way.. which does not even sound like a very strong presumption.. and I doubt that it is even very topical for us to be attempting to argue about it in this here thread. I feeel he was actually referring to forex traders...I don't know much about Bitcoin trading and I am yet to see a successful day trader of Bitcoin. My knowledge about Bitcoin is just to buy and hold. The successful traders being referred to are actually those who trade the forex market, many of whom buy Bitcoin with part of their profits from forex. You know capital is very important for the topic of this thread and forex seem to be one way of getting capital. So, mentioning forex trading is somehow in line as I feel some participant here also trade forex... maybe they might consider adopting the method of buying Bitcoin with their profit from forex trading. |
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