<snip>
*get your coins OUT of P2PK addresses if you are fortunate enough to have them. Put them in P2SH a (3xxxx) or bech32 (bc1qxxxx) ASAP. Personally I would avoid Taproot addresses unless you run CL/LND.
Thanks for all the valuable input there, greatly appreciated thoughts from you!
But could you elaborate a bit on the above, last point (asking for a friend ofc..)?
I agree that it can be helpful to the rest of us when guys who seem to have greater technical knowledge to ELI5 some of the seemingly technical information so that the non-technical folks can attempt to better assess some of the trade-offs that might exist in regards to how they are holding their coins and/or any of their (our) practices around safeguarding coins.
8. Over the span of ~1 year we have moved from But even #8 considered I think there are a LOT of reasons bitcoin could not be finished yet for this cycle.
I always tell myself 30% drops are normal on the way up.
Whether the double top in 2021 is considered as a higher top (in late 2021) or not, we still had a 50% correction (from $64.5k-ish in early 2021 down to $28.7k-ish in mid-2021) in that nominally higher top that came at $69k in November 2021.
Seasoned investors may now take sides with wall street and have your say.
For wall street is a very good street.
for me to poop on.
You may well be relying on translation, and/or maybe you just have bad and/or incoherent ideas, yet you should attempt to recognize and appreciate that the ideas of your post are somewhat incoherent to the extent that any adult (non-retarded) human might actually say anything like that...
yet.. I will admit that after I read your post several times to try to figure out the "poetry" of it, I began to understand that you are trying to present a purposeful internal contradiction to say that in recent times, there has been more entrance of wall street into the bitcoin space, and that influence is not a good thing, so in that regard, we should remain skeptical or even act against wall street and/or its influence on bitcoin.
It seems that (if I have interpreted your ideas correctly?) you could have had said it better..
Those who are regretting after the price of Bitcoin touches $100k may be the same as those in this category of people who will regret when the price of Bitcoin touches $200k because they will only wait for the investment but will not invest.
This is the reason I prefer DCA or to average as the price fall. I missed because I said bitcoin price should fall, the price fell but I still think the price will fall more until I realized that I have missed again.
What that can help is DCA and other means if averaging.
You seem to have been mixing DCA and buying the dip, and there are likely times that you need to think about these ideas separately, since as
you have found out, sometimes the dips do not come as you expect them to come, so you should be careful in regards to holding back a lot of value for buying the dip, when the dip might not really matter very much, especially if you might consider bitcoin as an investment of 4-10 years or longer.
Sure, if you are considering bitcoin ONLY as a trade, then you have other problematic ways of thinking about bitcoin.
I am investing 10% of my weekly income on bitcoin, this makes it not stressful for me if the price is going down. But I have in mind to invest 30%, if bitcoin fall to $90000, I plan to invest 10% more. If bitcoin fall to $72500, I plane to invest the rest which makes it 30%. But if the price of bitcoin did not go below $100,000, I will only be investing the 10%. This has been helping me than to be waiting for the price to fall.
If you are really thinking about bitcoin as an investment rather than a trade, then you may well be holding back too much value to wait for dips that might not happen, and your holding back for dips is likely putting you into a bit of a wrong mindset when it comes to really seriously building your bitcoin investment within your first cycle or two.
Sure, in the end, you have to figure out some kind of a balance that works for you, and I am surely not against holding back some value for the possibility of buying various dips that may or may not come, yet it may be the case that you had already been able to invest during our so far 18% dip, yet if you are still holding back a decent amount of value because you think that we are going to get sub $100k or even sub $90k, then you might be putting yourself into a bit too much of a wrong mindset when it comes to your level of aggressiveness in regards to investing into bitcoin in terms of recognizing bitcoin is likely close to the best (if not the best place) that so many normal peeps are able to put value, so long as they are lucky enough to have discretionary funds, which seems to be your situation.. You seem to have a decent amount of discretionary funds that you are holding back out of the hope for greater dips that may or may not end up happening.
But, yeah, in the end, you are responsible for your own actions and you will get consequences that reflect the ways that you chose to act and/or the mindset that you put yourself into.
It literaly screams for an aggressive BTC rebound.
Agree! In November and December there will likely be a healthy rejuvenation.
It could be possible that we have to wait more than two weeks for some kind of a meaningful "rejuvenation" to play out.
Crazy how so many OGs whine like a 13 year old girl about the volatility.
It is kind of crazy, yet it is not necessarily a new thing that some members will sometimes act and react in ways that seem out of character.
There can also exist a lot of contradicting rationales in regards to why (and how it came to be) that some of the longer term bitcoiners had come into bitcoin and how they have largely held through so many years.. and the situations of longer term bitcoiners are not all the same, especially if we really look at their
9 individual factors (not that we really need to analyze the particulars of other members, even though other members might sometimes even lose touch with their own individual factors).
here is hoping some dip was purchased today.
I got some.
I have been a bit surprised. I had buy orders filled at 1) $120k-ish, 2) $115.5k-ish, 3) $112k-ish, 4) $108.5k-ish and 5) $105k-ish.
My next two buy orders are set for $101.5k-ish, and $98k ish - and then down every $3k until $71k, if we were to go down that far...
For sure, many of us would prefer BTC prices to go up rather than down, and surely there is no guarantee that the bottom for this particular correction is in, even though it is feeling kind of "bottom-ish" from the perspective of this here cat... but what do I know? I have been fooled in the past, even though directionally,
bitcoin has been bery, bery good to me.....
Crazy how so many OGs whine like a 13 year old girl about the volatility.
I hate to be overly analyzing you LFC (or maybe I don't mind doing it?), but your response seem to suggest that even you are questioning your own level of confidence in regards to your reactions in this current price correction that so far had ONLY gotten us down to a correction of 18% so far. 18% is nothing but a thing in the circles of dee cornz.
ENJOY THE PAIN!
I am also glad I stopped looking at the price... My testicular fortitude was chiseled by my titanium plate training in 2015 and again in 2018. I am, however, a bit disappointed, as I was planning for the first time in my 3rd cycle to shave some off... That being said, if we did top... then I am all ready to ride the ride yet again... I really still have a lil hope left... Guess it's time to break out the plates again... Start whacking away till I feel nothing once more!!! That's just it. If I watched the last 2 bears, why would I sell now???
You seem to be providing some of the justification for incremental shavenings along the way, since none of us should feel that we are suffering for three-ish cycles, especially since you seem to be proclaiming or at least implying (in several of your earlier recent posts) that you have largely reached a status of having enough and/or even more than enough coins.
The craziest part is how much I dont care about the massive life-changing weekly swings that I am used to (even though nothing really changes... 1 BTC is still 1 BTC.)
I recall in around 2016 (or was it 2017? I cannot remember exactly), I was pointing out to one of my relatives (we were riding in a car and I can recall the location, but I cannot recall the exact year) some of the wild volatility of bitcoin and even describing how my bitcoin holdings was changing by multiples within just a few days..
Maybe I will remember more as I am typing this out?
Yet, I was more or less describing the amount that I had put into bitcoin, and I was describing how within short periods of time, the total value of the amount that I put into bitcoin was reflected in the price changes of bitcoin within short periods of time.. .like my whole amount invested would be added or subtracted from the value of my holdings within a matter of a few days. and surely the relative was impressed by the numbers, and if we think about the matter, the numbers now days are at least 20x higher than they would have had been at the time that I was engaged in such description with my relative.
I think that my description was scaring my relative, even though I was trying to describe that I was willing to ride bitcoin's volatility no matter what direction it went, even if it were to go to zero, which just seemed difficult for my relative to feel any level of calm in reaction to my ways of characterizing what was going on in bitcoin and how I was personally affected in terms of my finances and my psychology.
There is no mindrusting here. and I have been long since the 200's!
We all get BTC at the price we deserve
K
Your situation seems quite different from mindrust's, and he seemed to have largely been motivated by loss aversion, since his holding were right around the cost of his having had gotten into bitcoin (which was around $4k to $4,500.. and I am pretty sure that he sold around $4,500 which still allowed him to slightly be "in profits," and he was not even being irrational in his fear since he even admitted that he had gotten in over his skis in terms of his not being in a position to be able to lose whatever he had invested.. .. So I think that even though at that time (in March-ish 2020) I might have had been saying that guys should not be investing more than 25% of their quasi-liquid investment holding into bitcoin, and he said that he was much greater than 50%. I think that by that time, he was admitting that he might have had been even 45% or more.. which he was admitting to be way over-exposed, even for his own tolerance (it was like he was investing into bitcoin with money that he needed for his expenses in the near-term foreseeable future).
here is hoping some dip was purchased today.
I got some.
Excellent, Phil! All while others are whining and panicking!
I doubt that the panic is as great as you are making it out to be.. .It seems that we always have panicking and whining, and almost every time, the whiners and/or panic-ers are proclaiming that this is the worst time ever blah blah blah.. which surely comes off as a bit lacking in facts... so it seems that there always is going to be some level of outburst while we are correcting... and/or even if we might end up transitioning into a bear market..
It is true that sometimes the bear market starts, and then many of us (including yours truly) do not recognize and/or appreciate that we are actually in a bear market until it is a bit too late to do anything about it.. so in that regard, there may well be some truth to the expression that the one who panics first is in a better position than the one who panics at a later point in time.. .n other words, sometimes the early panic-ers end up being correct in their panic thoughts/actions.
Poll
