Buy the DIP, and HODL!

[Mayor of ogba]

Yes, it is always important for people to have a good knowledge of the investment they want to start so that they can know how to handle the investment and become successful with it, but when it comes to bitcoin investment, newbies or new investors don't necessarily need to gain any bitcoin knowledge before they can start investing their money into bitcoin. What newbies or new investors should be concerned about in bitcoin investment is their finances to know if or not they have a discretionary fund that will allow them to invest in bitcoin. As time goes on, they can start learning about bitcoin.

Why? And what will be the use of the money they want to invest when they don’t know how to invest in bitcoin? That doesn’t make any sense; it is not advisable to put your money into something you don’t know anything about. So the first thing you should do is learn the concept of bitcoin investment. Even if you won’t learn the whole thing, you need to know how volatile the market is, the risks, and how to manage them. After investing, any other knowledge you need can come in, but investing without the knowledge is totally wrong. 

I agree with you that it's not advisable to put your money into something you don't understand, but when it comes to bitcoin investment, anyone interested in it and who has money can easily invest in it even without gaining knowledge about it. Bitcoin investment is not like other investments, in which you will easily lose your money if you don't carry out proper research before starting it. Be it a newbie or an old investor in bitcoin investment, as long as you sell your bitcoin out of panic, you will lose your money. Investing in bitcoin is very simple to do, and anyone who can read and write can figure out how to accumulate bitcoin from a centralized exchange, so that will not be a problem. The main thing newbies should know is whether or not they have a discretionary income that will allow them to invest in bitcoin.

[SOKO-DEKE]

Yes, it is always important for people to have a good knowledge of the investment they want to start so that they can know how to handle the investment and become successful with it, but when it comes to bitcoin investment, newbies or new investors don't necessarily need to gain any bitcoin knowledge before they can start investing their money into bitcoin. What newbies or new investors should be concerned about in bitcoin investment is their finances to know if or not they have a discretionary fund that will allow them to invest in bitcoin. As time goes on, they can start learning about bitcoin.

Why? And what will be the use of the money they want to invest when they don’t know how to invest in bitcoin? That doesn’t make any sense; it is not advisable to put your money into something you don’t know anything about. So the first thing you should do is learn the concept of bitcoin investment. Even if you won’t learn the whole thing, you need to know how volatile the market is, the risks, and how to manage them. After investing, any other knowledge you need can come in, but investing without the knowledge is totally wrong. 

What some people are trying to explain, and what they want newbies to understand, is that they shouldn't be overly concerned with acquiring an advanced level of knowledge before starting to invest in Bitcoin. The idea is that as long as they have the money and a basic understanding such as knowing how to choose the best exchange for buying Bitcoin they should go ahead and start investing without wasting too much time seeking knowledge that isn't essential at that particular moment.

Bitcoin and cryptocurrency are fields in which every investor will continue learning over time. Waiting until you reach a certain level of knowledge can be a waste of time, and it could even lead to discouragement from investing. However, if you start investing early, you're more likely to pay close attention to learning how to properly secure and grow your Bitcoin investment. This way, you learn as you go and make progress along the way.

[JayJuanGee]

 Yeah, sure the more problematic portfolios would have been the ones who made decently large BTC purchases towards the top of the BTC price range, and then his subsequent DCAs at lower prices were not enough to overcome the earlier lump sum buys at higher prices, so there surely can be some BTC portfolios that might take a while to get back into profits, even after several years of ongoing BTC buying.  

On a subjective viewpoint to me it doesn't seem that problematic as others may be projecting. Due to market uncertainty we should be flexible with our timing plans while accumulating our portfolios be it for a long term or short term accumulation plans.

Having bought a lump sum at a higher price, what the investor needs to do is to adjust his plan giving it more time and if possible he/she can accumulate more BTC while patiently waiting within the adjustment period. You don't lose in BTC DCAing if only you can be patient with the market because it will surely take you back to profit. The only time anyone loses is when they panic sell out of FUD or impatient.

There could be a variety of scenarios in which a newbie started out his investment into bitcoin at the top, including front loading (or lump summing) the investment at or near the top, and so it could be the case that he knew that the BTC price might go down and he just wanted to be prepared for UP, so he lump sum invested just in case the BTC price went up, and yeah, as you mentioned, he may well have accounted for that and already had a plan in place to continue to buy with extra funds that he had held aside for such purposes or alternatively to continue to buy with whatever portion of his disposable income that he would have available on a weekly basis if the BTC price went below his purchase price.  Of course, he could DCA in or he could have even set up predetermined buy amounts at various dip points, so he could combine DCAing and buying on the dip to attempt to lessen the blow of his having had bought higher, which also would end up bringing down his average cost per BTC from the price of his initial lump sum purchase.

Another possibility is that the guy might have had made a mistake and used all of his available money and potentially even gotten out a loan, so that he was pretty much all in bitcoin at his first lump sum price, and then he might not have any extra money to keep buying BTC, and he is using any extra money that he has to service the loan that he had taken out.  Surely, we can see that this second situation is worse than the first, and surely the guy still has good chances of still coming out o.k... .but he might have to wait several years to get back into profits in the event that his discretionary income or situation does not improve in such a way that he would be able to authorize more BTC purchases in order to bring down his average costs per BTC. Surely the guy might also had come into bitcoin with a certain budget that he was going to use for buying bitcoin and that he was not going to go higher than his allocated budget.

Even though there are no guarantees in bitcoin that the BTC price will continue to go up, we can likely see that a guy who has various plans to continue to buy might be better in circumstances that the BTC price dips after his initial purchases, yet surely people are going to have their own ideas in regards to the BTC investment strategies, and some people will have been better at planning and/or having some flexibility to roll with the punches than others.

Bitcoin and cryptocurrency are fields in which every investor will continue learning over time. Waiting until you reach a certain level of knowledge can be a waste of time, and it could even lead to discouragement from investing. However, if you start investing early, you're more likely to pay close attention to learning how to properly secure and grow your Bitcoin investment. This way, you learn as you go and make progress along the way.

In this thread, we are not talking about cryptocurrencies and/or shitcoins, so I doubt that it is accurate or even helpful to suggest that the same principles apply to crypto or shitcoins as compared to the principles that apply to bitcoin.

For example, with bitcoin you can invest with only mere basic knowledge levels of your cashflow situation and generally develop a bit of a long term investment approach of 4-10 years or longer, yet the same long term plan cannot be applied to shitcoins and the level of knowledge that you need to get into shitcoins is also quite likely to be greater than bitcoin since you should most likely need to have some considerations regarding what you are getting into and what your timeline might be for getting out. There are likely no shitcoins that you should not consider some sort of an exit plan or an exit timeline or to take into account the various centralized vulnerabilities that almost all, if not all, shitcoins have, even when they might be trying to put themselves out there as decentralized or similar to bitcoin or even claiming to be better than bitcoin in various ways.. You should be attempting to evaluate and study those kinds of claims if you were to even come close to attempting to treat any of the shitcoins as investments rather than trades....

and those kinds of shitcoin-related considerations should neither be brought up in this thread or even attempting to suggest that shitcoin considerations are the same that are made with bitcoin. That is not correct, and it is misleading to lump shitcoins together with bitcoin by suggesting (or implying) that shitcoins need similar kinds of considerations as bitcoin.

[Mate2237]

Snip

As I said earlier in the local board today, new investors and old investors of bitcoin are always happy when the price is in the dip and the bear market because that is the best time to accumulate many to the wallet so that whenever the price goes up they will make good profit from it. And what happened last week in the bitcoin price was also good for short term investors like the price was on $54+k and if an investor bought it at that price and today, it is $56+k and the person would make 2% increase as profit. But the best investment plan is long term so you don't have to both yourself to monitor the market.

And nobody can guarantee the price of bitcoin at all time and that is why it is good for the long term investment. And whenever the price dip then it is to refill the wallet for whatever I have. If someone bought it when it is high and the price  suddenly came down to the dip, he should not panic and all what he should do is to pick courage and keep hodling and one day the price would go up again.

[JayJuanGee]

Even though there are no guarantees in bitcoin that the BTC price will continue to go up, we can likely see that a guy who has various plans to continue to buy might be better in circumstances that the BTC price dips after his initial purchases, yet surely people are going to have their own ideas in regards to the BTC investment strategies, and some people will have been better at planning and/or having some flexibility to roll with the punches than others.

As I said earlier in the local board today, new investors and old investors of bitcoin are always happy when the price is in the dip and the bear market because that is the best time to accumulate many to the wallet so that whenever the price goes up they will make good profit from it. And what happened last week in the bitcoin price was also good for short term investors like the price was on $54+k and if an investor bought it at that price and today, it is $56+k and the person would make 2% increase as profit. But the best investment plan is long term so you don't have to both yourself to monitor the market.

Yeah, but so fucking what about either 2% profits or having had been able to buy 2% more BTC with the same amount when the BTC price had dipped.  We are not talking about trading in this thread.  There are all kinds of other thread that you can go present your trading discussion points, or make your own thread on the topic of trading. 

And, yeah, when we are in the midst of a dip, we might even see that BTC prices are getting to be more than 20% lower than the ATH or even some other price point that we might see. and so we can potentially consider that we are getting a bargain as compared to the earlier BTC prices.  We are alto buy 20% more with the same amount of money and then when the BTC price returns to the prior prices, we are able to skim off 20% profits if we were to be trading rather than long term investing.  When we long term invest, we have the potential of our profits to fold in amongst themselves and so we increase our odds of being able to achieve compounding profits rather than just skimming off profits at various points along the way...

And don't get me wrong, I am not even suggesting that the compounding profits is guaranteed, yet I am suggesting that guys who are in their earliest stages of buying BTC and building their BTC holdings are likely not even that well severed by giving a whole hell of a lot of thoughts in regards to how much he is in profits or not in profits, even though I do appreciate that any of us feel better to be in profits rather than having our BTC holdings being in the negative... but it is very difficult for any newbies to really establish any kind of decently sized BTC stash within their first cycle unless they were able to front-load their investment, which truly is not the situation for a lot of people in world, so I am not going to assume that people are going to be able to front load their investment into bitcoin unless they describe their situations to have had been enabling them to accomplish such front-loading of their BTC investment.   

I understand that the title of the thread is a bit misleading since people see buy the dip and then they start to consider trading kinds of ideas, and surely over the past few years of this thread we have been having battles over the ideas of buying the dip versus just plain ole DCA buying, especially for newbies and especially for members who are inclined to invest for the long term in bitcoin rather than trading.. .. so yeah, we have never been talking about trading in this thread, except maybe incidentally, and also if our goals are to accumulate BTC, then many of us already recognize that selling is not a great strategy in order to achieve accumulation goals, and to the extent that you are trying to use selling as a BTC accumulation method, then at least you are potentially closer to the topic, even though many of us are not too excited about selling to be serving as an effective and reliable technique to accumulate more bitcoin, since it also has likely tendencies to devolve into gambling. just like any trading techniques seem to suffer from that same risk of devolving into gambling.

And nobody can guarantee the price of bitcoin at all time and that is why it is good for the long term investment.

At least you recognize bitcoin as a long term investment.. so at least, we are on the same page in that regard.

And whenever the price dip then it is to refill the wallet for whatever I have. If someone bought it when it is high and the price  suddenly came down to the dip, he should not panic and all what he should do is to pick courage and keep hodling and one day the price would go up again.

Surely if someone already has BTC then he may well have more luxuries to wait for the dip, yet frequently many of us talk about newbies to BTC are likely going to be better off to just continue buying BTC no matter the price, and sure if they happen to have some extra money come in while the BTC price is dipping, then they may well end up choosing to buy more BTC on the dip with that extra money.  So, yeah, there can be some competing ideas about whether anyone in their earliest of stages of bitcoin investment should be just buying BTC all of the time or waiting for dips, and if they are buying BTC all the time, then they probably woudl be happy to see dips during periods that they are continuing to buy, so even if they had bought a lot of BTC at higher prices, they should be able to recognize and appreciate that ongoing buying is putting them into even more of a proactive position in regards to their bitcoin holdings, rather than waiting around for the BTC price to go back up above their earlier higher buy prices.

[bitcoin_mining]

Snip

As I said earlier in the local board today, new investors and old investors of bitcoin are always happy when the price is in the dip and the bear market because that is the best time to accumulate many to the wallet so that whenever the price goes up they will make good profit from it. And what happened last week in the bitcoin price was also good for short term investors like the price was on $54+k and if an investor bought it at that price and today, it is $56+k and the person would make 2% increase as profit. But the best investment plan is long term so you don't have to both yourself to monitor the market.

And nobody can guarantee the price of bitcoin at all time and that is why it is good for the long term investment. And whenever the price dip then it is to refill the wallet for whatever I have. If someone bought it when it is high and the price  suddenly came down to the dip, he should not panic and all what he should do is to pick courage and keep hodling and one day the price would go up again.

Before investing every investor thinks that they will have money and they will buy Bitcoin with that money and when the market is positive they will sell their investment and earn profit thus they will only continue to make profit. But as simple as new investors plan, in reality this matter is very difficult. So the initial investment must be taken seriously. 

If our plan is to buy bitcoins with the amount of money we have and sell the investment at some profit, then it would not be an investment at all but trading. We know investing and trading are two different things. Business is usually done with a short term profit plan but investment has to be planned for the long term. After investing, if the investor gets some profit temporarily, then the investor should not see the profit and sell the coins but should wait for something better.  It is best for the investor if the investor invests consistently for a period of time. I was new and things were difficult for me too but gradually I tried to learn and took difficult things easy now I don't find it very difficult to invest consistently.