The right time to buy Bitcoin is now.
This is absolutely misleading man, both for new members coming in and also others too. One thing we must understand is that there isn’t a right time to buy bitcoin, and most importantly having the long term mindset of holding bitcoin and applying DCA gives us more opportunities to buy bitcoin at any given conditions either during highs or lows it all depends on the investor. “ Buying now” such statements is very misleading because we know how the market is unpredictable so you suggesting buying now is a wrong idea. Buying now at lows is a smart idea for those using DCA but some new members might not have the idea of what you are saying so they might end up rushing into buying now with all they have and later face the consequences of their actions. No right time to buy bitcoin, we can buy at any given time the important thing is our mindset toward it either long term or short term that will determine if our buys is right. There is absolutely nothing misleading about Rockstarguy statement, infact you are the one twisting everything up and maybe it is because you don't really understand where he is coming from...Now being the right time to buy discourages any form of delay and procrastination and then remind folks that waiting for the best point of entry may continually lead to missed opportunities... The fact remains that no one can perfectly predict the market and so it would be be wise for folks to take action and kickstart their accumulation journey as soon as they have their discretionary income handy... |
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These type of people who hope that they can get out of this, by doing something silly, could go into even worse situations. A friend of mine had 300k debt, and he gambled even more to pay that back instead of paying it back, and he grew his debt bigger, and with the interest, it reached as high as 440k dollars at some point be cause he had to refinance it again and again.
So yeah, if you have debt, first order of business should be stop gambling all together, and pay the debt back first.
The mindset that gambling guarantees wealth still feels like something that even the so called experienced gamblers are guilty of, and I just wonder why? Even from the dawn of time till now Gambling has hardly ever provided a remedy to anyone's debt problems.... In those situations, what gambling have rather done is to ensure that that individual end up with more losses...As for me, the major requirement for gambling is to first have a source of income which could very well enable an individual to have a source where they can get their gambling allocations from... |
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Investment and gambling are totally two different things, and it would vee very wrong when they are both identified as the same... The mentality of majority of investor is that they always expect something in return from the investment they made or are doing... And such a mentality would be very dangerous to bring into gambling since gambling doesn't have that same level of predictability as a long term investment has...In gambling we mostly know of the possibility of losses, and that's why most gamblers end up very frustrated when their bets dosen't yield the profit that they have long anticipated for..And due to their high level of certainty is best that gambling is done only with the extra money that isn't needed for any basic needs to necessity...
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[edited out]
I think that those who believe the best way to go about getting into bitcoin is to wait for it to drop in price, are those who buy an apparent dip, perhaps at $50k when it came down from $70k, but then bitcoin keeps dropping and they sell again immediately at $45k because they they timed the market wrong. There are so many people in the forum preaching to buy the dip or in general to be able to spot the dip at all that I lose my mind when I see that. This is a thread about DCA and the whole purpose of DCA is to get in now! If bitcoin drops you get more BTC for you buck, if bitcoin goes up, whatever you bought before goes up in value and you get less BTC for the buck. Now let's say a potential investor decides to do 52 weeks DCA to build a bag. It is the right decision either way. If bitcoin keeps dropping for 52 subsequent weeks, congratulations for the amount of BTC you could acquire. If Bitcoin goes up for 52 weeks, congratulations because the BTC you bought in week 1 and 2 and 3... 51 now all went up in value. I understand that you are merely giving an example of a guy buying weekly for a whole year, yet I cannot understand too many examples where a guy would be able to establish enough of a position in bitcoin in 1 year, since investing seems to take a long time, even if a guy might be able to frontload by reallocating from other assets into bitcoin. Waiting for a dip when you made the final decision to start DCA, which I think is by far the way under current circumstances in the market, is simply nonsense. It undermines the whole idea to start DCA when actually you are obsessed with waiting for a dip.
Sure now everyone will say "see I was right to wait", but in my opinion that is confirmation bias. Nobody really knew where it would go and whether Saylor decides to spread some "FUD" (which I think is not really true, but whatever).
DCA, if you got the means to build a bag on a weekly basis for 52 weeks reliably, is like the perfect insurance against market volatility and any doubt a potential investor may have.
You are correct to say that any particular time that we cannot be sure if the BTC price is going to go up, down or sideways, especially over a year or two accumulation period, and especially newbies presumptively are starting out with no coins and even if they are buying bitcoin for quite a long time, they will stay a low coiner for quite a long time since it likely takes a decent amount of time to really build a bitcoin holdings that is significant enough to either stop accumulating or to transition from accumulation status into maintenance status. Surely sir, 1year isn't enough for investors to build their bag.... Even when the investment timeline stretches unto a period of like 10years , at times that still dosen't guarantee that folks would have solidly build their portfolio within such time..But then again, investment isn't a marathon race whereby folks pressure themselves to build up their portfolio faster than others... Investment is best, when done with your Discretionary income for long term duration, and since the intention is long term based, folks can very well invest within their capacity by starting out with little amounts and then making increments as they go... |
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Portugal actually have a really good team at this World Cup but I don’t think they are going to win it. Argentina are more likely which would mean Messi would have two World Cups.
Regardless though, I think France are favourites although I acknowledge that if Portugal can do it, Ronaldo would have done everything in the game and perfectly end his career.
Honestly I don't even think that cup will be going to Argentina this time around coz I trust that Messi wouldn't be putting in much effort as he did in the last World Cup, since he has already happened to have won it for his country... Messi may not even feature in all their matches...On the other hand, we have teams like Portugal which I know would be so desperate for the cup, since this happens to be C.Ronaldo last world cup game.. And I trust that Ronaldo with put in all he's got and play with all he's got to prove that he is indeed the GOAT...There again we have other competitive teams like France ,Spain, Brazil, etc which I know would try so hard to also try to win... Not even Emiliano Martinez may be able to save Argentina from this time around... |
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The fact that something is for entertainment, simply means that one's priority shouldn't be on whether that activity is fetching money or it isn't... Meaning that any gambler who plans to gamble for entertainment should gamble without placing their attention on if gambling is being profitable or it isn't... Anyone who is majorly concerned about profits isn't gambling for entertainment, and the implication is that it could very well make gambler to start chasing their losses in the hopes of getting more profit and also recovering what's was lost...
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~snip~
It's probably true, sir, that the wealthy are always pushing Prices down to disrupt the market, causing small investors to Panic and sell. I suspect that if They run out of abilities, they use their abilities to spread fud on social media. This means we must be truly wise and not be provoked by this market situation. We must continue our buying routine, Because when they Manipulate the market, we can take advantage of it to keep buying. we need is the mental support to Hold for a long time. But I wonder how many of their members are actually capable of controlling the market. I wonder what they doing this for? Are their short positions putting further downward pressure on the Market? Sincerely speaking, the whales can manipulate the market all they want, that manipulation cannot affect the long term growth of Bitcoin, it only get to affect the short term price movement... And so the long term investors should have no reason for FUD, and that's coz the manipulation could even serve as an opportunity to get Bitcoin at a more cheaper price without have to wait or delay the kickstarting of your investment journey... And so what may seem like a problem can also be viewed as an opportunity... But then that opportunity only works for the long term investors who invests using their discretionary income... |
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~snip~
You don’t invest in a field you don’t know nothing about, that’s definitely one way to loose. Either you get used by the people whom are more inclined in the space or you make genuine beginner mistakes. That’s facts and it applies in all fields. When they talk about doing some studies before investing in Bitcoin or cryptocurrency, it doesn’t necessarily mean you should go pro on it before being invested in it, no. You just need to under the very basics of it. Lack of understanding is how you find people, beginners, novice in the space seeking out other persons to invest in Bitcoin for them and they get taken advantage of. This is something they can do by themselves but; their lack of “know how” makes them vulnerable. So, you need some level of education in the space at least. You are mostly right, and yeah having some basic knowledge about Bitcoin is very crucial to kickstarting ones investments journey, and that's coz with basic knowledge can help folks be knowledgeable about certain things which can very well Help them to avoid certain(not all) mistakes... For example someone who just rushed to invest in Bitcoin and he or she has no idea of it volatile nature,such ignorance can lead to them selling before reaching their original target simply because they assumed that long term growth may not be possible due to how the price is a waver...And that the more reason why basic knowledge is very important... |
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I can see that Enrique is also quite confident about next season. It seems that after two consecutive Champions League titles, the team has gained a great deal of self-belief. Of course, if they are strong enough to win a third title in a row, I have no problem with that at all. The most important thing is that they do not become too arrogant, because football has a way of punishing that very quickly.
Personally, I would like to see Bayern Munich win the Champions League this season. They were really, really good.
Since the exit of Mbappe, PSG gameplay has improved greatly and they have found it very easy to trash out too team without much stress and hassle...But I wouldn't want them to win it for the third consecutive time, since there would be no fun in that and also coz I don't want it to get into their head and turn them into an arrogant team...Moreso, there are teams that hasn't even reached UCL finals, talk of less of winning it, and I think those teams teams in those categories should be the once to win it next... |
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I honestly think this kind of happens because many people see gambling as a shortcut out of their financial problems. When someone is already deep in debt, saving a small amount every month can feel too slow, so they start hoping for one big win that will solve everything at once. The problem is that gambling usually makes the situation worse. A good example will be that, if someone owes the bank money and keeps spending their spare cash on slots or betting, they are taking a risk with money they can hardly afford to lose. A few losses can push them even deeper into debt.
About that, I sometimes wonder why anyone would think that gambling can automatically fix their debt problems... The chances of winning are very slim and most time before a win comes, a gambler would have probably encountered a whole lot of losses which is likely even more when compared to the few wins they made..Then again it would be better if someone deep in debt save up little by little, regardless of how slow the progress amy seem, but that would be much more better than not saving at all. Saving up may sometimes be much more difficult for folks who are already deep in addiction, and if that was the case, such a gambler has to try and fix that addiction problem... |
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Gambling is a very funny game that makes you not to reason about the losses you have incurred when you are about to gamble, reasoning about your losses will definitely lead you astray and make you lose more .
If you are not gambling for fun, then it is better you don't gamble because the wins are not guaranteed and you cannot keep on gambling and thinking about your losses, it make gambling suffocating .
It is better you use small amount to gamble than using big amount to avoid over thinking about the loss you will be making or you have made
Saying this may be due to your personal reasons and experience, but I really think towards the opposite direction and that because the more folks think about the loss the more cautious they will likely become...Say for example a gambler used about $500 for a bet and lost the whole money, thinking about this loss can serve as a reminder to the gamble in question of the consequences of placing high stakes and as such may make the gambler to apply more caution in their future bets... And so I don't really see how thinking of losses can lead folks astray, since losses in almost all cases have served as a valuable lesson, especially with how it has made most folks reassess their approach, reduce their stakes and whatnot... |
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Even Sulegzy39 himself said something wrong there. It is true that he called the volatility of Bitcoin price risky, but it becomes more risky only for short time traders. The risk is less noticeable for long-term investors. Bitcoin's price volatility acts as an opportunity for long-term holders. And there is no problem if buying bitcoin with discretionary income and hold it for years, because it is money outside the expenses of daily life. If you invest in Bitcoin from discretionary income and hold it, it will not have any impact on daily life. And you should not invest in Bitcoin with the necessary money.
And Crytohillss, you should be a little careful when quoting. It is normal to make mistakes sometimes. And you mentioned the difference between cryptocurrency and Bitcoin as a reply to the part quoted above. Which I think you replied wrongly quoted.
The risk that is associated with Bitcoin, mostly comes from it being a volatile asset.. As a volatile asset, the price can move in either the lower or higher direction within short periods of time and this is a risk that affects not only short term traders, but also long term investors... And that's majorly why it would be very wrong for folks to invest using money needed for basic needs and responsibilities.. Thebest money for investment will always be your discretionary income since it is the money that is left after basic needs and responsibilities have been sorted out... |
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Starting to accumulate bitcoin will even encourage people to learn about it as well, it's easier for someone who has already started buying bitcoin to learn more about it than it is for someone who hasn't started yet, someone who has already started investing will have more interest since their money is already there snd they want to make sure they are doing it the right way, someone who hasn't started investing yet might still be gathering knowledge but won't be as fully committed as someone who's already accumulating bitcoin.
Starting is very important, it's pointless to gather all the knowledge there is to gather if the person ends up not even investing in bitcoin at the end of the day.
There is no way to gather or be truly Knowledgeable about Bitcoin when you aren't investing... And so self exclusion cannot make anyone to be knowledgeable about Bitcoin and that's coz Bitcoin is best learnt true an actual involvement... And the truth about folks who depend solely on theoretical knowledge is that they wouldn't be exposed all there is to know, and as such, such an individual will find it difficult properly understand volatility and how to stay calm during price dips and bearish seasons... |
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....
Tipster will only share online the history of their wins, they will hardly share their losses and that is why most new gamblers tends to be deceived into having the false impression that there are some special sects of folks who have the ability to make certain predictions... As far as gambling is concerned, there is no such thing as certainty no matter how convincing that prediction sounds... And m that is why it is best that gamblers just rely on their own research and analysis(if it is sport betting that is concerned) instead of paying online scammers who possess as tipsters... Reliance of yourself and your own judgement is best coz you very well understand the reason behind those decisions that you made, and that's far more better than blindly trusting the analysis of a stranger... |
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Surely I always think about the possibility of encountering losses every now and then, and those thoughts are what make me to reduce my betting size to a very small amount, an amount that I very well know is what I can afford to lose... Greed and the lust for money is what mostly blinds the eyes of majority of folks and then makes them to neglect the fact that losses is a huge part of gambling.. And as far as gambling is concerned, folks should always accept the fact that losses could occur at any time and it is the acceptance of this that can make gamblers to bet within their gambling limit...
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I don't think all you said is correct, most people go into gambling for entertainment, some feel it's also an escape root, so what would you say about the rich that gamble with millions,or the people that has financial support and still chose to gamble,there are some many reason ,even the once that won't make sense to you or me, people has so many things that made them gamble, I sincerely feel bad for anyone who feels they can elevate their finances through gambling , because it's not going to play out like that .
The OP couldn't exhaust all of the list of things that attract gamblers to gamble and that the more reason why he says that we should include ours.. That being said, some guys even gamble just for showoff to their girlfriend and friends of how large their wealth is..Some other gamble just because they are too rich, so they want some of their wealth to be lost, and so they don't even feel the effect of the loss like others who may probably be gambling for the monetary benefits of gambling... |
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You do not seem to know the difference between DCA and some DCA tool that has been created by some exchange. Would you like to promote that exchange, too - since you seem to love it's DCA buying tool, so well. By the way, it is not a good idea to DCA into shitcoins, yet exchanges won't stop you from doing that, since they make money no matter what you buy (or trade).
Just for your information (and the information of other members) DCA does not need to be automated in order to qualify as being DCA. DCA can be manual, and it probably is better to do it manually.
I agree with you. manual dca is better because some weeks your expenses will exceed your income and you wouldn't be able to figure out discretionary income in such cases you are can skip that week until when next there is discretionary income available However, this is the reverse for automated DCA because you cannot skip even if you don't have discretionary income available for that particular week. Since it is automated it will affect you because it will still deduct automatically regardless of whether you lack discretionary income or not. This is why I prefer to Dca manually as I can decide to skip for that week if I lack discretionary income. In short, the power to adopt flexibility is much more attainable with manual DCA, and truth be told, automating DCA may not work for every folks considering the nature or intensity of their income inflow... Just like you have pointed out, there are time when folks may have little or no discretionary income after their basic needs and responsibilities have been sorted out,..If that is the case, it becomes much more easier for that individual in question to adjust the amount or even pause their investments when they manually DCA into Bitcoin... |
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~snip~
Putting it as a must for new investors to have an emergency fund is wrong and it can also be misleading, we know how important emergency fund is in every bitcoin journey hence, an investor top priority should be how to invest, how to remain consistent with his investment.
Getting started is very important, but it isn't quite right to neglect the safety of your investment as you go since Bitcoin as we all know is a long-term investment.. Anyways, you are free to approach your investment in whatever way that you deem fit, and concerning not having an emergency fund, you are also free to invest without prioritizing an emergency funds.... But in the course of doing so, always having it in mind that emergency dosen't give any kind of warning prior to its arrival and it surely wouldn't check if an investor is a newbie or an experienced investor before it comes... And that's the more reason why it shouldn't be neglected in the course of a an investor's journey, emergency funds should also be a priority.. Folks don't have to stop investing in the course of setting up an emergency fund, coz Emergency funds can be very well build alongside an investor's investment... |
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~snip~
That is true. I dont want a house. Because 1) I dont want to manage anything, nor I dont have time for that (I dont want to clear snow, leaves, cut grass and etc. it is expensive to hire someone to do that regularly)
Managing an apartment isn't only for house owners, it is also done by folks who even live in a rented apartments .. Here in Africa, I have been to houses whereby the setting and the maintenance would make it look as if the resident are the actual owners of that apartments, but with later questions, you will discover that they are just tenants... Most property owners or landlords have made it a kind of law for every occupant to practice proper maintenance, Infact some landlords goes to the extent of punishing tenants who don't properly maintain the apartment as well as the facilities in it and outside of it.. |
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The current Chelsea management aren't known for trusting the process so I won't be surprised if they decide to sack Xabi Alonso less than 6 months into next season if he fails to deliver the performances they want. Thomas Tuchel after winning the UEFA Champions League in 2021 deserved to be given more time after the team starting underperforming but no, they sacked him. That said, if they can exercise patience with Alonso, I think he'll do very well.
Xabi has a very good performance record, so I don't think that the management of Chelsea would want to make that mistake that they had made with other coaches, coz doing so is simply going to be a high loss to Chelsea... I mean who would have ever thought that Leverkusen would ever win the Bundesliga title when there were more competitive clubs like Dortmound and Bayern Munich and whatnot, but Xabi Alonso made it possible for Leverkusen to be victors of the league..And I believe that if he can apply that same tactical intelligence to Chelsea, that Chelsea gameplay will greatly improve this upcoming season... |
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