Buy the DIP, and HODL!

[Gallar]

i might not totally agree with you that while investing in  bitcoin you should just set up a plan of accumulating 2 bitcoin and use the whole of your life in getting to that planned figure.

Yeah it is of the nature of every investors to dream big about their future accomplishment, so setting a reasonable target is good way to start the process but not every target is encouraged, so actually I would say that having a set target of 2 Bitcoin to achieve in all of his life does not sound like a target because the conviction will be very low and as the time goes you will start losing interest because of the belief that you still have a good number of years ahead of you to meet up and from such mindset other things will come in play and occupy your mind from thinking about your investment, meanwhile as we normally talk about few years targets is better because it gives us the discipline that whatever thing we do we have something very important to reach out and that idea will now be installed on our head.

Having a target when investing in bitcoin is actually not a problem. Because in essence, this target is just something that will motivate us to be more focused in investing in Bitcoin. So even if this target is very difficult to achieve, in my opinion it doesn't matter, because at least it can continue to motivate us. Because in my personal opinion, having a target is a good thing, and the results are a matter of later concern. In fact, in my personal opinion, bitcoin investors who don't have a target can be said to be not good either. Because in essence, the characteristics of a serious investor with one of their investment assets, such as bitcoin, are that this person must have a plan or target. Because if you don't have a target, I think it will feel empty and maybe in the end you won't be too enthusiastic about investing in Bitcoin. So having a target of wanting to own 1 or 2 bitcoins, I don't think is a problem. Maybe the problem is people who don't invest in bitcoin, just kidding.

[EarnOnVictor]

The more bitcoin you collect the more profit, because you can store it for a long time and this will be the DCA method. But currently if someone invested in October and his investment increased by 2 to 3 times in November then surely most success is possible with proven bitcoin long term holding.
  Note that the bull market is not over yet, so even with bullish prices, if you hold Bitcoin with the DCA method, you will save on the purchase price. That's why DCA method is the best and has the most role in Bitcoin investment, so you accumulate Bitcoins little by little in which you can accumulate the maximum . And stay away from bank deposit, deposit bitcoin money.

My goal is to be able to get the bitcoin using the DCA method, no matter how long it takes me but even if the price of bitcoin Increases I will continue to accumulate anyway, I don't care, seeing that the money in fiat increases there are Emotions , but more emotions seeing that the satoshis grow, and that is what many should see that a bitcoin is that, a btcoin, which is the goal, I hope this can be done for more, but I'm sure that if I make 1 btc then I will continue to make the 2nd, that's the idea , that's the purpose of this.

I wish you the very best of luck in your Bitcoin quest, and you know what, Bitcoin got you. I've never seen an asset that is as reliable as Bitcoin, that's the truth, so no one bets in favour of Bitcoin and loses in the end. But those who bet against Bitcoin will always find themselves to blame, it can only delay but will surely happen.

By virtue, anyhow you plan your investment in Bitcoin is not the issue, just continue to have that stash of it until your joy is full. The DCA approach is good but some are just buying when they have extra money regardless of the price, they use it as their means of "savings" instead of wasting their money in bank accounts. That was what I did between 2022 and 2023, and today, I tell you that I am very happy with the decision.

[Justbillywitt]

And I remind you, if you have bought bitcoin and stored it in your wallet. Don't forget to write your wallet phrase and keep it in a safe place. Then the paper containing the wallet phrase code must be laminated directly. So the paper is not eaten by termites and remains safe even if stored for years.

You don't even have to wait till you buy bitcoin and store in your wallet first, before you will write down the seed phrase. To me it is not a safe practice. You should write your seed phrase down the moment you are setting up your wallet after downloading it from your app store. I think this is the best practice and in your own interest. Because the moment you have stored bitcoin in your wallet anything can happen. So it's safer to have the seed already written down, before proceeding to deposit your bitcoin in the wallet.

Regarding where you mentioned about laminating the paper where your seed phrase was written. It is better to keep the paper in it's original form than taking it to a computer center for lamination. Because when you take it there, there is a high possibility that a third party who is doing the laminating for you, is definitely going to see what you have written down. And once your seed phrase has come in contact with a third party, just know that your funds are not safe. Just look for a good place and store your seed phrase. Just make sure you don't keep it where termite will eat it up. If you keep your house and your surroundings very clean, termites and rodents won't come close. Try as much as possible to make sure that no third party come in contact your your seed phrase.

[Callido]

i might not totally agree with you that while investing in  bitcoin you should just set up a plan of accumulating 2 bitcoin and use the whole of your life in getting to that planned figure.

Yeah it is of the nature of every investors to dream big about their future accomplishment, so setting a reasonable target is good way to start the process but not every target is encouraged, so actually I would say that having a set target of 2 Bitcoin to achieve in all of his life does not sound like a target because the conviction will be very low and as the time goes you will start losing interest because of the belief that you still have a good number of years ahead of you to meet up and from such mindset other things will come in play and occupy your mind from thinking about your investment, meanwhile as we normally talk about few years targets is better because it gives us the discipline that whatever thing we do we have something very important to reach out and that idea will now be installed on our head.

You are absolutely right and I think I get your point and of course this doesn't only happen in Bitcoin investment even in some other investment and activities, I have once set target on something that by the end of the month this where I want to reach in this..., but as days goes by I began to feel reluctant and weak reason because even if I don't achieve it that set date I will still achieve it sooner or later and to a point it was more like an procrastinating not even because I was lazy or not determined but because i believe I can still get to that set target so I have to stop and just do it in a normal way and then I start making progress. I'm not saying that setting a target is not good but sometimes it's not good  it can make one reluctant or procrastinate thereby making one to lose some opportunity as a result of not completing a set target on time.

It is careless of an investor not to include budget while starting up his investment, implementing this will serve as a precaution for consistency and enough reason why to keep the investment rolling. Everyone wants to invest in Bitcoin and earn profits but just a few are willing to subdue their funds as capital into their investment journey without a second thought of cutting off. Creating a budget is more like a predicted goal, you don't create a budget that is beyond once source of income, it should be in line with what the investor has to offer, close check from earnings, to expenses and what is left after every bills being sorted.

No way can drafting a budget make anyone reluctant, from where you started and total destination creates the impact of being more productive knowing that there is a target to be reached. An investor who chooses to be reluctant after setting a budget did so based on his personal regards and nothing else to explain.

[JayJuanGee]

In the context of this thread we are not talking about trading or selling bitcoin in order to accumulate more bitcoin. Selling is not a good strategy to accumulate more bitcoin.

Sure the title of the OP might be misleading, since it has a concept of buying bitcoin on the dip, which implies that there might be some advantages to identifying the dip or even to wait for the dip rather than buying regularly.  So there is plenty to talk about in this thread in regards to the various ways to accumulate bitcoin, and trading and selling bitcoin seems to be outside of the scope of what we have been talking about in this thread or should be talking about in this thread since if we start to talk about trading and/or selling then we get diverted from the main ideas of accumulating bitcoin for the long term, and what tactics and strategies might be effective for accumulating bitcoin.   

You’re right!
The thread’s subject does suggest an idea of timing the market and waiting for a dip before, although while the other part of the subject says “And HODL” (which of course kinda frowns against selling) the whole topic still sounds kinda misleading.
But the discussion on this particular has indeed evolved and organically shifted towards considering a more appropriate approach and strategy for Bitcoin accumulation in the long term, which is the Strategy of Consistent Buying using the DCA approach. 

If you ask me, I feel this shift in focus of the thread is quite an innovative and positive move/development, because it provided us the opportunity to explore different and several other strategies, p make certain comparisons as well as putting certain things into consideration in order to identify a more appropriate strategy for Long term Bitcoin accumulation and HODLing, thereby learning even more and beyond what the Topic talks about with the aid, knowledge and analysis of experts and professionals amongst us, helping us to build a more secure and solid Portfolio.

By focusing on accumulation approach, we’ve been able to explore other vast topics like the concepts of the Dollar Cost Averaging which of course so many of us never knew about, we’ve also been able to discuss the importance and benefits of having an emergency and other backup funds too.

You’re absolutely right that introducing trading or selling into this discuss could serve as a major distraction from the main theme of the discussion which of course is long term accumulation. Rather than deviating from the discussion, it’ll be more beneficial to maintain our focus on long term accumulation as this would potentially help us to provide a more valuable insight and guide to those who are also seeking after building a solid Bitcoin portfolio in the long term.

There is nothing in the thread topic that suggests either selling or trading as part of the topic, so from the start of the thread, there has been an assumption of a goal of accumulating bitcoin for the long term, yet initially the thread topic, OP and OP's author was advocating for buying on dips, so that invites the discussion and debate regarding whether buying on the dip is the better of strategies, especially when it comes to newbies, so there has developed considerable consensus that DCA is good for everyone, yet it seems to be even more beneficial for anyone who is in their earliest of times of building up their BTC stack size.  Sure once they get a decent-sized BTC stack size, then it becomes less clear about whether DCA is a preferred approach, so guys have to figure out for themselves, if they think that they might want to gravitate away from a DCA strategy and into a buying on the dip strategy.

So we don't always agree how and when, which seems to be part of our ongoing discussion, apart from the guys coming in here and wanting to include trading and selling into the topic, which seems to be outside of the scope of the thread in a couple of ways.  1) selling is not a good accumulating strategy and 2) selling might come into play after a person has already accumulated a lot of BTC or too much BTC, yet we are not presuming that anyone here has reached such state of over accumulation... There are so many folks who are way early in their BTC accumulation stages, including so many folks who still have not even gotten into bitcoin yet, so they have to start by accumulating bitcoin once they do decide to start.. rather than starting by waiting... waiting is not a good strategy, either, if you don't have much if any BTC, which is the status of the overwhelming majority of the world's population, whether they realize their status or not.

i might not totally agree with you that while investing in  bitcoin you should just set up a plan of accumulating 2 bitcoin and use the whole of your life in getting to that planned figure.

Yeah it is of the nature of every investors to dream big about their future accomplishment, so setting a reasonable target is good way to start the process but not every target is encouraged, so actually I would say that having a set target of 2 Bitcoin to achieve in all of his life does not sound like a target because the conviction will be very low and as the time goes you will start losing interest because of the belief that you still have a good number of years ahead of you to meet up and from such mindset other things will come in play and occupy your mind from thinking about your investment, meanwhile as we normally talk about few years targets is better because it gives us the discipline that whatever thing we do we have something very important to reach out and that idea will now be installed on our head.

I think that you are correct Salahmu in that there should be goals that are reachable and meaningful and for shorter periods of time, such as 6 months, 2 years, 5 years, and sure there can be longer goals that are 10 years or lifetime goals, but those longer goals hardly mean shit if they are just abstract pie in the sky goals, so it seems way more practical and realistic to consider various stepping stones along the way, including that sometimes if the short term goals might not pan out, then there would be back up ways of reaching the goals, and whether the longer term goals need to be changed or not might not be clear, since sometimes, any of us could get distracted off of our long term goals because our short term goals end up changing, so we might have to consider which part we might need to change or if any kind of temporary diversion is going to still allow for staying on the path, since every day we should be striving to make at least some progress towards our long term goal, whether it is ONLY buying $10 per week of bitcoin or if there may be other ways that we might be making progress to increase our income and/or decrease our expenses or some other things that we might be trying to accomplish to still keep our longer term goals in mind while also making shorter term strives towards continuing to make progress towards the goals and even having some shorter-term intermediary goals... that might involve some strengthening of cashflow management  or might just involve attempting to surround oneself by people who do not cause us too much drama in life... so we can stay focused on our various, short, intermediate and long term goals and hopefully having connections with the various goals with the short term goals being way more achievable yet sometimes needing to change or tweak them along the way.

i might not totally agree with you that while investing in  bitcoin you should just set up a plan of accumulating 2 bitcoin and use the whole of your life in getting to that planned figure.

Yeah it is of the nature of every investors to dream big about their future accomplishment, so setting a reasonable target is good way to start the process but not every target is encouraged, so actually I would say that having a set target of 2 Bitcoin to achieve in all of his life does not sound like a target because the conviction will be very low and as the time goes you will start losing interest because of the belief that you still have a good number of years ahead of you to meet up and from such mindset other things will come in play and occupy your mind from thinking about your investment, meanwhile as we normally talk about few years targets is better because it gives us the discipline that whatever thing we do we have something very important to reach out and that idea will now be installed on our head.

You are absolutely right and I think I get your point and of course this doesn't only happen in Bitcoin investment even in some other investment and activities, I have once set target on something that by the end of the month this where I want to reach in this..., but as days goes by I began to feel reluctant and weak reason because even if I don't achieve it that set date I will still achieve it sooner or later and to a point it was more like an procrastinating not even because I was lazy or not determined but because i believe I can still get to that set target so I have to stop and just do it in a normal way and then I start making progress. I'm not saying that setting a target is not good but sometimes it's not good  it can make one reluctant or procrastinate thereby making one to lose some opportunity as a result of not completing a set target on time.

You seem to be showing why it is better to have various intermediate goals that are reachable along the way, so that you don't have to do everything at once.

I have some procrastination problems (personal issues) too, and sometimes I really cannot get myself  to do certain things, yet I also know that if there are ways to break the larger project into smaller parts then it can become more achievable to do the various chunks.. or to say each day, I am going to spend 1 hour doing x, so then it becomes easier to reach the goal by the end of the week or the month because some progress was made every day or maybe every other day... something regular to make progress.

And I remind you, if you have bought bitcoin and stored it in your wallet. Don't forget to write your wallet phrase and keep it in a safe place. Then the paper containing the wallet phrase code must be laminated directly. So the paper is not eaten by termites and remains safe even if stored for years.

You don't even have to wait till you buy bitcoin and store in your wallet first, before you will write down the seed phrase. To me it is not a safe practice. You should write your seed phrase down the moment you are setting up your wallet after downloading it from your app store. I think this is the best practice and in your own interest. Because the moment you have stored bitcoin in your wallet anything can happen. So it's safer to have the seed already written down, before proceeding to deposit your bitcoin in the wallet.

Regarding where you mentioned about laminating the paper where your seed phrase was written. It is better to keep the paper in it's original form than taking it to a computer center for lamination. Because when you take it there, there is a high possibility that a third party who is doing the laminating for you, is definitely going to see what you have written down. And once your seed phrase has come in contact with a third party, just know that your funds are not safe. Just look for a good place and store your seed phrase. Just make sure you don't keep it where termite will eat it up. If you keep your house and your surroundings very clean, termites and rodents won't come close. Try as much as possible to make sure that no third party come in contact your your seed phrase.

There is a problem if there is ONLY one back up, and so people need to consider how they are going to deal with matters, and let's say that your house burns down?  Is your back up and your wallet in the same place?  We cannot secure as much if we have faulty backup systems, and yeah, it can be difficult for some people, including maybe more difficulties if a person is moving locations and he might have all of his valuables in one place.. so there need to be systems that account for possible things that could go wrong if everything is in one place.. and surely the point about if any time anyone might have had seen the seed, then they might have made a copy of it, taken a picture or some kind of way of noting the seed.

i might not totally agree with you that while investing in  bitcoin you should just set up a plan of accumulating 2 bitcoin and use the whole of your life in getting to that planned figure.

Yeah it is of the nature of every investors to dream big about their future accomplishment, so setting a reasonable target is good way to start the process but not every target is encouraged, so actually I would say that having a set target of 2 Bitcoin to achieve in all of his life does not sound like a target because the conviction will be very low and as the time goes you will start losing interest because of the belief that you still have a good number of years ahead of you to meet up and from such mindset other things will come in play and occupy your mind from thinking about your investment, meanwhile as we normally talk about few years targets is better because it gives us the discipline that whatever thing we do we have something very important to reach out and that idea will now be installed on our head.

You are absolutely right and I think I get your point and of course this doesn't only happen in Bitcoin investment even in some other investment and activities, I have once set target on something that by the end of the month this where I want to reach in this..., but as days goes by I began to feel reluctant and weak reason because even if I don't achieve it that set date I will still achieve it sooner or later and to a point it was more like an procrastinating not even because I was lazy or not determined but because i believe I can still get to that set target so I have to stop and just do it in a normal way and then I start making progress. I'm not saying that setting a target is not good but sometimes it's not good  it can make one reluctant or procrastinate thereby making one to lose some opportunity as a result of not completing a set target on time.

It is careless of an investor not to include budget while starting up his investment, implementing this will serve as a precaution for consistency and enough reason why to keep the investment rolling. Everyone wants to invest in Bitcoin and earn profits but just a few are willing to subdue their funds as capital into their investment journey without a second thought of cutting off. Creating a budget is more like a predicted goal, you don't create a budget that is beyond once source of income, it should be in line with what the investor has to offer, close check from earnings, to expenses and what is left after every bills being sorted.

No way can drafting a budget make anyone reluctant, from where you started and total destination creates the impact of being more productive knowing that there is a target to be reached. An investor who chooses to be reluctant after setting a budget did so based on his personal regards and nothing else to explain.

Sometimes a person may have created a budget and he is executing his BTC investment plan, and maybe 6-12 months down the road, he realizes that he made some mistakes in his budget.  One of the great things about making a plan is that there likely would be various cushions built into the plan and if mistakes are made, then the mistakes can be addressed along the way in order to make the plan stronger at the later point down the road... versus someone who had not planned very well, then that person gets themselves into a pickle since he had not planned very well and probably did not include any kind of financial and/or psychological cushion in regards to whatever he had been doing...so planning and tweaking along the way are great things for anyone in their earliest years of investing, and it can take a bit of time to really get used to following the plan and adjusting it along the way and reaching various goals along the way, too.

[SuperBitMan]

The more bitcoin you collect the more profit, because you can store it for a long time and this will be the DCA method. But currently if someone invested in October and his investment increased by 2 to 3 times in November then surely most success is possible with proven bitcoin long term holding.
  Note that the bull market is not over yet, so even with bullish prices, if you hold Bitcoin with the DCA method, you will save on the purchase price. That's why DCA method is the best and has the most role in Bitcoin investment, so you accumulate Bitcoins little by little in which you can accumulate the maximum . And stay away from bank deposit, deposit bitcoin money.

My goal is to be able to get the bitcoin using the DCA method, no matter how long it takes me but even if the price of bitcoin Increases I will continue to accumulate anyway, I don't care, seeing that the money in fiat increases there are Emotions , but more emotions seeing that the satoshis grow, and that is what many should see that a bitcoin is that, a btcoin, which is the goal, I hope this can be done for more, but I'm sure that if I make 1 btc then I will continue to make the 2nd, that's the idea , that's the purpose of this.

I wish you the very best of luck in your Bitcoin quest, and you know what, Bitcoin got you. I've never seen an asset that is as reliable as Bitcoin, that's the truth, so no one bets in favour of Bitcoin and loses in the end. But those who bet against Bitcoin will always find themselves to blame, it can only delay but will surely happen.

By virtue, anyhow you plan your investment in Bitcoin is not the issue, just continue to have that stash of it until your joy is full. The DCA approach is good but some are just buying when they have extra money regardless of the price, they use it as their means of "savings" instead of wasting their money in bank accounts. That was what I did between 2022 and 2023, and today, I tell you that I am very happy with the decision.

Is this really true well for me I think is not because there are plans you will follow in your Bitcoin investment and it will delay you for example waiting for the dip, and if you are into Bitcoin investment you need to use only your Discretionary income for your Accumulation if you don't and you start using money meant for taxes, electricity, water, food etc you will hit the rock which will lead to you selling of all your Bitcoin .
So planning your Bitcoin investment is very important because if you don't plan well you will fail, we all know that as someone who is into Bitcoin investment is important you have a backup funds it helps prevent dipping hands into your Bitcoin investment.
One of the reasons why we always share ideas here is so we can learn from each other and come up with a good plan on how to follow our investment.

[ginsan]

Is this really true well for me I think is not because there are plans you will follow in your Bitcoin investment and it will delay you for example waiting for the dip, and if you are into Bitcoin investment you need to use only your Discretionary income for your Accumulation if you don't and you start using money meant for taxes, electricity, water, food etc you will hit the rock which will lead to you selling of all your Bitcoin .
So planning your Bitcoin investment is very important because if you don't plan well you will fail, we all know that as someone who is into Bitcoin investment is important you have a backup funds it helps prevent dipping hands into your Bitcoin investment.
One of the reasons why we always share ideas here is so we can learn from each other and come up with a good plan on how to follow our investment.

For me, for the first time, I didn't plan well about investing in Bitcoin, I just bought and held it. But over time I started to plan my accumulation in 2022, 2023 and until now. Sometimes we need a closer approach to Bitcoin and the arrangement of plans can be arranged better if we have found a comfortable strategy in accumulating Bitcoin.

Obviously, monthly income, weekly bonuses from work are one way to organize well where we will allocate how much percentage to buy bitcoin. For me, as long as our income continues to run normally, of course, bitcoin accumulation will run smoothly.

By adjusting the budget or increasing it more as long as the Bitcoin accumulation is still a material that I have to study more deeply. I still haven't been able to increase the budget to be more aggressive because my income is not increasing.

[Callido]

i might not totally agree with you that while investing in  bitcoin you should just set up a plan of accumulating 2 bitcoin and use the whole of your life in getting to that planned figure.

Yeah it is of the nature of every investors to dream big about their future accomplishment, so setting a reasonable target is good way to start the process but not every target is encouraged, so actually I would say that having a set target of 2 Bitcoin to achieve in all of his life does not sound like a target because the conviction will be very low and as the time goes you will start losing interest because of the belief that you still have a good number of years ahead of you to meet up and from such mindset other things will come in play and occupy your mind from thinking about your investment, meanwhile as we normally talk about few years targets is better because it gives us the discipline that whatever thing we do we have something very important to reach out and that idea will now be installed on our head.

You are absolutely right and I think I get your point and of course this doesn't only happen in Bitcoin investment even in some other investment and activities, I have once set target on something that by the end of the month this where I want to reach in this..., but as days goes by I began to feel reluctant and weak reason because even if I don't achieve it that set date I will still achieve it sooner or later and to a point it was more like an procrastinating not even because I was lazy or not determined but because i believe I can still get to that set target so I have to stop and just do it in a normal way and then I start making progress. I'm not saying that setting a target is not good but sometimes it's not good  it can make one reluctant or procrastinate thereby making one to lose some opportunity as a result of not completing a set target on time.

It is careless of an investor not to include budget while starting up his investment, implementing this will serve as a precaution for consistency and enough reason why to keep the investment rolling. Everyone wants to invest in Bitcoin and earn profits but just a few are willing to subdue their funds as capital into their investment journey without a second thought of cutting off. Creating a budget is more like a predicted goal, you don't create a budget that is beyond once source of income, it should be in line with what the investor has to offer, close check from earnings, to expenses and what is left after every bills being sorted.

No way can drafting a budget make anyone reluctant, from where you started and total destination creates the impact of being more productive knowing that there is a target to be reached. An investor who chooses to be reluctant after setting a budget did so based on his personal regards and nothing else to explain.

Sometimes a person may have created a budget and he is executing his BTC investment plan, and maybe 6-12 months down the road, he realizes that he made some mistakes in his budget.  One of the great things about making a plan is that there likely would be various cushions built into the plan and if mistakes are made, then the mistakes can be addressed along the way in order to make the plan stronger at the later point down the road... versus someone who had not planned very well, then that person gets themselves into a pickle since he had not planned very well and probably did not include any kind of financial and/or psychological cushion in regards to whatever he had been doing...so planning and tweaking along the way are great things for anyone in their earliest years of investing, and it can take a bit of time to really get used to following the plan and adjusting it along the way and reaching various goals along the way, too.

Mistakes are not supposed to be much of a deal to the process, life is full of mistakes/regrets/assuming to have picked a better option but at most how we relieve ourselves matters, when decision making becomes a skill it is the easiest way out from such mistakes. For anyone who has failed to plan, may have already made plans to just rub off the surface of investing, any heat can eventually pull out such a person from his investment plan without a second thought. I suggest anyone to stick with making those plans, accepting mistakes and taking corrections if it does happens, adjusting is better than no planning.

[Churchillvv]

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[edited out]

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[Edited out]

Sometimes a person may have created a budget and he is executing his BTC investment plan, and maybe 6-12 months down the road, he realizes that he made some mistakes in his budget.  One of the great things about making a plan is that there likely would be various cushions built into the plan and if mistakes are made, then the mistakes can be addressed along the way in order to make the plan stronger at the later point down the road... versus someone who had not planned very well, then that person gets themselves into a pickle since he had not planned very well and probably did not include any kind of financial and/or psychological cushion in regards to whatever he had been doing...so planning and tweaking along the way are great things for anyone in their earliest years of investing, and it can take a bit of time to really get used to following the plan and adjusting it along the way and reaching various goals along the way, too.

Mistakes are not supposed to be much of a deal to the process, life is full of mistakes/regrets/assuming to have picked a better option but at most how we relieve ourselves matters, when decision making becomes a skill it is the easiest way out from such mistakes. For anyone who has failed to plan, may have already made plans to just rub off the surface of investing, any heat can eventually pull out such a person from his investment plan without a second thought. I suggest anyone to stick with making those plans, accepting mistakes and taking corrections if it does happens, adjusting is better than no planning.

You haven't said anything wrong nor have JayJuanGee said anything except the truth, perhaps I will have to add this; chasing perfection should never be part of the plan of any investor or a yone into bitcoin investment whether newbies or someone who's already deep into it.

Trying to make everything perfect only results in one thing which is not achieving a good goal because basically life is never meant to be simple so every step you take towards achieving great goals like bitcoin investment it will have to throw some stones towards you all you have to do is pick them up and build a shade towards your investment so that nothing can wave you to the extent of wanting to sell your holdings.

Since mistakes is inevitable one should prioritise achieving the slightest amount of bitcoin instead of complaining about ones mistakes or quitting the journey out of regrets. perhaps all have have to do is follow the plans and weigh your budget with your plans if they are compatible enough to carry out as time goes on where changes needs to be made then you can make them yet achieving your bitcoin which is the real deal.

[Jaycoinz]

Only those who invest what they can't afford  would be scared of volatility and the reason for DCA a method is for investors to just only buy the amount of Bitcoin that they afford, this helps in accumulating bitcoin without any stress and with this method of investing their is no need to be scared of the volatility of the market because you are not expecting profit in a short time. DCA method of investing is a longterm investment which you don't have any business of volatility for profit so soon, you only just take advantage of the dip whenever you come across it because it is also a good opportunity for investors to but during the dip. DCA method of investment is all about buying bitcoin at the rate which you can afford and no need for fear of volatility because it is not an investment one is depending to make profit very quick .

You make a great point. An investor should probably know how to retain and increase purchasing power if not volatility will be a thing that they know of but will be scared of. And even in DCA investors might get low on funds in purchasing Bitcoin with the actual amount they've been using. Most times it is a result of lacking a steady stream of income which may be that they lost their job without having a business or any other investment to tap from. To be more realistic, investors and aspiring investors should have a decent approach while investing. They need to be smart and watch the source they get the money they use for their investment. Whenever we feel uncomfortable with our investment, we can have a shift in the amount we use in investing so we don't crumble our business or do anything that will affect the source of our income. While accumulation is important if we see a means to make more money than we can venture into it after making observations and having our conclusion on it. This doesn't mean we get to stop our accumulation entirely. Rather we can reduce the percentage we use in investing so we can get things right and working smoothly for us. Although it might take some period for the business or investment to start yielding something for us. In the end it's still a better approach.

There is a reason why it's basically said before investing in Bitcoin you should atleast have a Workin jobs that can atleast cover for some expenses, and also have different saving plans like emergency funds, and other discretionary funds so you get affected or need to lower or temper with the amount you are using to buy the Bitcoin or the saved up Bitcoin.

[JayJuanGee]

Is this really true well for me I think is not because there are plans you will follow in your Bitcoin investment and it will delay you for example waiting for the dip, and if you are into Bitcoin investment you need to use only your Discretionary income for your Accumulation if you don't and you start using money meant for taxes, electricity, water, food etc you will hit the rock which will lead to you selling of all your Bitcoin .
So planning your Bitcoin investment is very important because if you don't plan well you will fail, we all know that as someone who is into Bitcoin investment is important you have a backup funds it helps prevent dipping hands into your Bitcoin investment.
One of the reasons why we always share ideas here is so we can learn from each other and come up with a good plan on how to follow our investment.

For me, for the first time, I didn't plan well about investing in Bitcoin, I just bought and held it. But over time I started to plan my accumulation in 2022, 2023 and until now. Sometimes we need a closer approach to Bitcoin and the arrangement of plans can be arranged better if we have found a comfortable strategy in accumulating Bitcoin.

Obviously, monthly income, weekly bonuses from work are one way to organize well where we will allocate how much percentage to buy bitcoin. For me, as long as our income continues to run normally, of course, bitcoin accumulation will run smoothly.

By adjusting the budget or increasing it more as long as the Bitcoin accumulation is still a material that I have to study more deeply. I still haven't been able to increase the budget to be more aggressive because my income is not increasing.

You can ONLY do what you can do in terms of your level of aggressiveness, except maybe studying other ways to either earn more income or to cut some expenses... yet we each have limitations, including that sometimes it just takes some patience if we are doing as much as we can, then we still likely are going to do o.k. as long as we are more conscious about being proactive, rather than just sitting on our early investment and not doing anything further when we could be adding to our stash, even if it is relatively small amounts... yet we still may well end up putting ourselves in a better position from having had invested into bitcoin for 2 or 3 cycles rather than not having had done so.

[Barikui1]

Only those who invest what they can't afford  would be scared of volatility and the reason for DCA a method is for investors to just only buy the amount of Bitcoin that they afford, this helps in accumulating bitcoin without any stress and with this method of investing their is no need to be scared of the volatility of the market because you are not expecting profit in a short time. DCA method of investing is a longterm investment which you don't have any business of volatility for profit so soon, you only just take advantage of the dip whenever you come across it because it is also a good opportunity for investors to but during the dip. DCA method of investment is all about buying bitcoin at the rate which you can afford and no need for fear of volatility because it is not an investment one is depending to make profit very quick .

You make a great point. An investor should probably know how to retain and increase purchasing power if not volatility will be a thing that they know of but will be scared of. And even in DCA investors might get low on funds in purchasing Bitcoin with the actual amount they've been using. Most times it is a result of lacking a steady stream of income which may be that they lost their job without having a business or any other investment to tap from. To be more realistic, investors and aspiring investors should have a decent approach while investing. They need to be smart and watch the source they get the money they use for their investment. Whenever we feel uncomfortable with our investment, we can have a shift in the amount we use in investing so we don't crumble our business or do anything that will affect the source of our income. While accumulation is important if we see a means to make more money than we can venture into it after making observations and having our conclusion on it. This doesn't mean we get to stop our accumulation entirely. Rather we can reduce the percentage we use in investing so we can get things right and working smoothly for us. Although it might take some period for the business or investment to start yielding something for us. In the end it's still a better approach.

There is a reason why it's basically said before investing in Bitcoin you should atleast have a Workin jobs that can atleast cover for some expenses, and also have different saving plans like emergency funds, and other discretionary funds so you get affected or need to lower or temper with the amount you are using to buy the Bitcoin or the saved up Bitcoin.

Yea, it's true, I think these are what it entails to be sound and effective in not just your Bitcoin accumulation journey, but also your ability to hold strong even in the face of financial crisis you may encounter at some point along the line in your Bitcoin accumulating and investment journey, so having a source of income or more and an emergency funds kept aside is the ideal recipe needed to buy and hold strong because patience alone is not enough as a Bitcoin investor.

Then lastly, as a Bitcoin investor, it's best to invest with the mindset of holding for a very long period of time, because the way Bitcoin is being structured, in other to reap the full dividend of your Bitcoin investment, it's best you hold for a very long period of time, because the more time's flies, the more Bitcoin appreciate in value.

[SuperBitMan]

Is this really true well for me I think is not because there are plans you will follow in your Bitcoin investment and it will delay you for example waiting for the dip, and if you are into Bitcoin investment you need to use only your Discretionary income for your Accumulation if you don't and you start using money meant for taxes, electricity, water, food etc you will hit the rock which will lead to you selling of all your Bitcoin .
So planning your Bitcoin investment is very important because if you don't plan well you will fail, we all know that as someone who is into Bitcoin investment is important you have a backup funds it helps prevent dipping hands into your Bitcoin investment.
One of the reasons why we always share ideas here is so we can learn from each other and come up with a good plan on how to follow our investment.

For me, for the first time, I didn't plan well about investing in Bitcoin, I just bought and held it. But over time I started to plan my accumulation in 2022, 2023 and until now. Sometimes we need a closer approach to Bitcoin and the arrangement of plans can be arranged better if we have found a comfortable strategy in accumulating Bitcoin.

Obviously, monthly income, weekly bonuses from work are one way to organize well where we will allocate how much percentage to buy bitcoin. For me, as long as our income continues to run normally, of course, bitcoin accumulation will run smoothly.

By adjusting the budget or increasing it more as long as the Bitcoin accumulation is still a material that I have to study more deeply. I still haven't been able to increase the budget to be more aggressive because my income is not increasing.

You can ONLY do what you can do in terms of your level of aggressiveness, except maybe studying other ways to either earn more income or to cut some expenses... yet we each have limitations, including that sometimes it just takes some patience if we are doing as much as we can, then we still likely are going to do o.k. as long as we are more conscious about being proactive, rather than just sitting on our early investment and not doing anything further when we could be adding to our stash, even if it is relatively small amounts... yet we still may well end up putting ourselves in a better position from having had invested into bitcoin for 2 or 3 cycles rather than not having had done so.

You are right however some set of people are so comfortable with there current level and they don't bother having another source of income or increasing the amount which they use to accumulate there Bitcoin why some people are usually not comfortable with there level they try to grow there current level and also increase the amount of there Bitcoin accumulation.
Now between this two set of people who do you think we do more better for me I think is those who are always uncomfortable with there current level and trying to increase the amount they use in accumulating Bitcoin, this set of people are the once who always accumulate and hodl consistently because they always want to change there current level or position.

[Zackz5000]

The more bitcoin you collect the more profit, because you can store it for a long time and this will be the DCA method. But currently if someone invested in October and his investment increased by 2 to 3 times in November then surely most success is possible with proven bitcoin long term holding.
  Note that the bull market is not over yet, so even with bullish prices, if you hold Bitcoin with the DCA method, you will save on the purchase price. That's why DCA method is the best and has the most role in Bitcoin investment, so you accumulate Bitcoins little by little in which you can accumulate the maximum . And stay away from bank deposit, deposit bitcoin money.

My goal is to be able to get the bitcoin using the DCA method, no matter how long it takes me but even if the price of bitcoin Increases I will continue to accumulate anyway, I don't care, seeing that the money in fiat increases there are Emotions , but more emotions seeing that the satoshis grow, and that is what many should see that a bitcoin is that, a btcoin, which is the goal, I hope this can be done for more, but I'm sure that if I make 1 btc then I will continue to make the 2nd, that's the idea , that's the purpose of this.

I wish you the very best of luck in your Bitcoin quest, and you know what, Bitcoin got you. I've never seen an asset that is as reliable as Bitcoin, that's the truth, so no one bets in favour of Bitcoin and loses in the end. But those who bet against Bitcoin will always find themselves to blame, it can only delay but will surely happen.

By virtue, anyhow you plan your investment in Bitcoin is not the issue, just continue to have that stash of it until your joy is full. The DCA approach is good but some are just buying when they have extra money regardless of the price, they use it as their means of "savings" instead of wasting their money in bank accounts. That was what I did between 2022 and 2023, and today, I tell you that I am very happy with the decision.

Is this really true well for me I think is not because there are plans you will follow in your Bitcoin investment and it will delay you for example waiting for the dip, and if you are into Bitcoin investment you need to use only your Discretionary income for your Accumulation if you don't and you start using money meant for taxes, electricity, water, food etc you will hit the rock which will lead to you selling of all your Bitcoin .
So planning your Bitcoin investment is very important because if you don't plan well you will fail, we all know that as someone who is into Bitcoin investment is important you have a backup funds it helps prevent dipping hands into your Bitcoin investment.
One of the reasons why we always share ideas here is so we can learn from each other and come up with a good plan on how to follow our investment.

Sometimes people intend to put their self into difficulty by trying to use money meant personal needs to invest into Bitcoin not knowing that Bitcoin investment is a longer time money for Bitcoin investment should be money you won't be needing for long just like you have said that it should come from your discretionary income. Also waiting for the dip will only delay your Bitcoin investment journey because sometimes it may not even dip investor who can choose to wait for the dip before accumulating Bitcoin are properly those that has gotten to their Bitcoin accumulation target or those that has been accumulating Bitcoin for the past 8 years or more may decide to little by little during the dip but for new investors is a wrong idea to wait for the dip that's why the DCA strategy is there to help an investor accumulate Bitcoin gradually regardless of the price and continue hodling, the dip should only be an opportunity for an investor to accumulate enough Bitcoin and HODL.

[Kelward]

i might not totally agree with you that while investing in  bitcoin you should just set up a plan of accumulating 2 bitcoin and use the whole of your life in getting to that planned figure.

Yeah it is of the nature of every investors to dream big about their future accomplishment, so setting a reasonable target is good way to start the process but not every target is encouraged, so actually I would say that having a set target of 2 Bitcoin to achieve in all of his life does not sound like a target because the conviction will be very low and as the time goes you will start losing interest because of the belief that you still have a good number of years ahead of you to meet up and from such mindset other things will come in play and occupy your mind from thinking about your investment, meanwhile as we normally talk about few years targets is better because it gives us the discipline that whatever thing we do we have something very important to reach out and that idea will now be installed on our head.

I personally don't have a set target for the number of Bitcoin that I want to accumulate into the future, because I don't want to put myself into unnecessary pressures to achieve the goal by all means. Although there's nothing wrong with setting a soft target for yourself into the future, perhaps in 10 years time to achieve a reasonable amount of Bitcoin but there's no need to over labor yourself or deny yourself of basic needs that are essential to live a healthy lifestyle because you want to accumulate 1 or 2 Bitcoin within the timeframe.

DCA method for example gives you the ease to accumulate according to your income at any particular time, no need to overpressure yourself and miss out on having a meaningful life by overstretching yourself in the cause of wanting to meet up with unrealistic targets that your income can not accommodate. It'll be unwise to stash your bag with a reasonable amount of Bitcoin in the future then not be in good health or sound mind to enjoy part of it in your retirement or worse don't even be alive to enjoy it. What I focus on is the percentage of my income that I set aside for my DCA method, that is where I have a constant for my accumulation, not the amount of Bitcoin that I must have in my retirement.

[Salahmu]

Yeah it is of the nature of every investors to dream big about their future accomplishment, so setting a reasonable target is good way to start the process but not every target is encouraged, so actually I would say that having a set target of 2 Bitcoin to achieve in all of his life does not sound like a target because the conviction will be very low and as the time goes you will start losing interest because of the belief that you still have a good number of years ahead of you to meet up and from such mindset other things will come in play and occupy your mind from thinking about your investment, meanwhile as we normally talk about few years targets is better because it gives us the discipline that whatever thing we do we have something very important to reach out and that idea will now be installed on our head.

So having a target of wanting to own 1 or 2 bitcoins, I don't think is a problem. Maybe the problem is people who don't invest in bitcoin, just kidding.

I couldn't get much meaning to what you are saying because i don't no the business of people who doesn't invest on Bitcoin have with the targets of acquiring 1 Bitcoin and secondly nobody is against the idea of 1 Bitcoin but all we are just saying is that to be more proactive you need to eradicate the impression of I want to have 1 Bitcoin without a target because there is no zeel attached to it and is just mere word and the fire is not in you, for example if you have plan of owning a plot of land that would possibly worth $23k, would you just say you would acquire the property before getting old? or you will condition yourself with a task that within that time to a particular period you should be able to get the property?, so in relation to Bitcoin investment that's actually what we are talking about.

[Mayor of ogba]

The more bitcoin you collect the more profit, because you can store it for a long time and this will be the DCA method. But currently if someone invested in October and his investment increased by 2 to 3 times in November then surely most success is possible with proven bitcoin long term holding.
  Note that the bull market is not over yet, so even with bullish prices, if you hold Bitcoin with the DCA method, you will save on the purchase price. That's why DCA method is the best and has the most role in Bitcoin investment, so you accumulate Bitcoins little by little in which you can accumulate the maximum . And stay away from bank deposit, deposit bitcoin money.

My goal is to be able to get the bitcoin using the DCA method, no matter how long it takes me but even if the price of bitcoin Increases I will continue to accumulate anyway, I don't care, seeing that the money in fiat increases there are Emotions , but more emotions seeing that the satoshis grow, and that is what many should see that a bitcoin is that, a btcoin, which is the goal, I hope this can be done for more, but I'm sure that if I make 1 btc then I will continue to make the 2nd, that's the idea , that's the purpose of this.

By virtue, anyhow you plan your investment in Bitcoin is not the issue, just continue to have that stash of it until your joy is full. The DCA approach is good but some are just buying when they have extra money regardless of the price, they use it as their means of "savings" instead of wasting their money in bank accounts. That was what I did between 2022 and 2023, and today, I tell you that I am very happy with the decision.

You are very wrong; if you don't plan your bitcoin investment in the right way, I bet you will sell your bitcoin investment along your accumulation journey just to survive. For instance, if you use the money that is meant to sort out your daily expenses to accumulate bitcoin or you use your whole money to invest in bitcoin, you will end up selling your bitcoin even though you are at a loss to sort out your daily expenses. We should always use the money that we will not be needing for like 4-10 years or more to invest in bitcoin. so that we will not be in a hurry to sell our bitcoin investment, which will allow us to hold our bitcoin for a long time.

And I remind you, if you have bought bitcoin and stored it in your wallet. Don't forget to write your wallet phrase and keep it in a safe place. Then the paper containing the wallet phrase code must be laminated directly. So the paper is not eaten by termites and remains safe even if stored for years.

I know you are a newbie, but I want you to understand you don't need to wait until you buy bitcoin in your bitcoin wallet before you can keep your seed phrase or private key safe. Immediately you create your bitcoin wallet, the next thing to do is to write down your seed phrase or private key on a piece of paper and store it in a place that is only known to you and free from natural disasters. And also stop connecting your phone to public WiFi so that you will not expose your bitcoin wallet to scammers, which will give them access to your bitcoin wallet.

[sotelorene]

Is this really true well for me I think is not because there are plans you will follow in your Bitcoin investment and it will delay you for example waiting for the dip, and if you are into Bitcoin investment you need to use only your Discretionary income for your Accumulation if you don't and you start using money meant for taxes, electricity, water, food etc you will hit the rock which will lead to you selling of all your Bitcoin .
So planning your Bitcoin investment is very important because if you don't plan well you will fail, we all know that as someone who is into Bitcoin investment is important you have a backup funds it helps prevent dipping hands into your Bitcoin investment.
One of the reasons why we always share ideas here is so we can learn from each other and come up with a good plan on how to follow our investment.

For me, for the first time, I didn't plan well about investing in Bitcoin, I just bought and held it. But over time I started to plan my accumulation in 2022, 2023 and until now. Sometimes we need a closer approach to Bitcoin and the arrangement of plans can be arranged better if we have found a comfortable strategy in accumulating Bitcoin.

Obviously, monthly income, weekly bonuses from work are one way to organize well where we will allocate how much percentage to buy bitcoin. For me, as long as our income continues to run normally, of course, bitcoin accumulation will run smoothly.

By adjusting the budget or increasing it more as long as the Bitcoin accumulation is still a material that I have to study more deeply. I still haven't been able to increase the budget to be more aggressive because my income is not increasing.

You can ONLY do what you can do in terms of your level of aggressiveness, except maybe studying other ways to either earn more income or to cut some expenses... yet we each have limitations, including that sometimes it just takes some patience if we are doing as much as we can, then we still likely are going to do o.k. as long as we are more conscious about being proactive, rather than just sitting on our early investment and not doing anything further when we could be adding to our stash, even if it is relatively small amounts... yet we still may well end up putting ourselves in a better position from having had invested into bitcoin for 2 or 3 cycles rather than not having had done so.

You are right however some set of people are so comfortable with there current level and they don't bother having another source of income or increasing the amount which they use to accumulate there Bitcoin why some people are usually not comfortable with there level they try to grow there current level and also increase the amount of there Bitcoin accumulation.
Now between this two set of people who do you think we do more better for me I think is those who are always uncomfortable with there current level and trying to increase the amount they use in accumulating Bitcoin, this set of people are the once who always accumulate and hodl consistently because they always want to change there current level or position.

I disagree with you dude, it is true that some people are not comfortable with their holding while some are comfortable with their holding and those investors that are not comfortable with their..., and tends to increase their accumulation is not really a bad thing right but sometimes or most times it's not good because it can result to a lot of things like being biased, frustration, panicking, selling when you're investment is not mature or due because you will be so worked up because of the quest to increase one's accumulation, as a matter of fact you are imposing so much pressure on yourself. Just like I said earlier it's not really a bad thing but while not continue accumulating regardless and just be consistent and wait for such opportunity to come to increase your accumulation instead of striving to..., since one is investment for a long period of time you don't need to rush there's time for everything.

[Wind_FURY]

Is this really true well for me I think is not because there are plans you will follow in your Bitcoin investment and it will delay you for example waiting for the dip, and if you are into Bitcoin investment you need to use only your Discretionary income for your Accumulation if you don't and you start using money meant for taxes, electricity, water, food etc you will hit the rock which will lead to you selling of all your Bitcoin .
So planning your Bitcoin investment is very important because if you don't plan well you will fail, we all know that as someone who is into Bitcoin investment is important you have a backup funds it helps prevent dipping hands into your Bitcoin investment.
One of the reasons why we always share ideas here is so we can learn from each other and come up with a good plan on how to follow our investment.

For me, for the first time, I didn't plan well about investing in Bitcoin, I just bought and held it. But over time I started to plan my accumulation in 2022, 2023 and until now. Sometimes we need a closer approach to Bitcoin and the arrangement of plans can be arranged better if we have found a comfortable strategy in accumulating Bitcoin.

Obviously, monthly income, weekly bonuses from work are one way to organize well where we will allocate how much percentage to buy bitcoin. For me, as long as our income continues to run normally, of course, bitcoin accumulation will run smoothly.

By adjusting the budget or increasing it more as long as the Bitcoin accumulation is still a material that I have to study more deeply. I still haven't been able to increase the budget to be more aggressive because my income is not increasing.

You can ONLY do what you can do in terms of your level of aggressiveness, except maybe studying other ways to either earn more income or to cut some expenses... yet we each have limitations, including that sometimes it just takes some patience if we are doing as much as we can, then we still likely are going to do o.k. as long as we are more conscious about being proactive, rather than just sitting on our early investment and not doing anything further when we could be adding to our stash, even if it is relatively small amounts... yet we still may well end up putting ourselves in a better position from having had invested into bitcoin for 2 or 3 cycles rather than not having had done so.

That's definitely the RIGHT attitude, especially for those people who doesn't have large amount of capital to make life-changing money in one mere cycle. Plus it probably also should not be merely about the money, but make the journey itself is our life-long "vocation". Because the Central Banks will never stop printing money, our job as Bitcoin investors/users is simply to buy more whether it's during bear cycle DIPs, or DCA during any kind of market situation. Bitcoin's long term value will NEVER go down as long as the Central Banks will keep expanding their balance sheet through BRRRRR-Money-Printing.

[Sim_card]

I personally don't have a set target for the number of Bitcoin that I want to accumulate into the future, because I don't want to put myself into unnecessary pressures to achieve the goal by all means. Although there's nothing wrong with setting a soft target for yourself into the future, perhaps in 10 years time to achieve a reasonable amount of Bitcoin but there's no need to over labor yourself or deny yourself of basic needs that are essential to live a healthy lifestyle because you want to accumulate 1 or 2 Bitcoin within the timeframe.

You are getting it twisted, setting a target doesn't mean that you should not take care of your basic needs or monthly expenses neither deprive yourself from other important things that must be done. Setting a target will only enable you stay focus and work towards it with all commitments and determination because you have a goal to achieve. For instance, you will be careful with the way you spend your extra funds and cut down expenses on stuffs that you can do without. For instance, drinking two bottles of beer every week or the money that you put use to gamble every week will be channel into accumulating more bitcoin apart from your DCA.

Also, whenever you have extra funds that you don't expect or plans for, it will make you think of buying bitcoin with it right away because you don't want the money to be used for something that will not be beneficial to you in future. The investor can easily lump sum happily with such funds because he has the zeal and passion to reach his bitcoin target.
Bitcoin investment does not need pressure to invest because it's a long term process, otherwise, you might end up selling your bitcoin when there is too much pressure on your finance because you are doing it the wrong way. Bitcoin investment should be done the right way for success in future.

DCA method for example gives you the ease to accumulate according to your income at any particular time, no need to overpressure yourself and miss out on having a meaningful life by overstretching yourself in the cause of wanting to meet up with unrealistic targets that your income can not accommodate. It'll be unwise to stash your bag with a reasonable amount of Bitcoin in the future then not be in good health or sound mind to enjoy part of it in your retirement or worse don't even be alive to enjoy it. What I focus on is the percentage of my income that I set aside for my DCA method, that is where I have a constant for my accumulation, not the amount of Bitcoin that I must have in my retirement.

Of course, the amount of money that we use to DCA should be the amount from our discretionary income that is cool with us to continue buying with such amount overtime till we have an increase in our discretionary income. If not, if you go and overdo it with a bigger amount that will affect yout expenses, it means that you are gambling and will end up selling your bitcoin investment at loss when you want to take care of your needs.

However, if you have a target, that will not make you think of acquiring bitcoin in a wimpish way of just been satisfied with only the amount that you can use to buy bitcoin weekly when you can increase it and it wouldn't affect you financially. For instance, when you don't have a bitcoin target, your discretionary income might be $100 and you will be cool with buying bitcoin with $40, because you feel you don't have any target and don't need to invest too much on bitcoin. When you can invest $70 instead of $40. You might have a salary increase and still feel cool of using your initial amount to DCA instead of increasing it.

Having a bitcoin target is another form of motivation on its own to make you find different means and opportunities out there to increase your income. One thing that you should know is that, it's impossible for anyone to be investing in bitcoin for long without an emergency funds to take care of your health and whatever unforeseen challenges that you will face, if not you will sell your bitcoin before time to solve them.

One thing that you should understand is that we might set a target and be seriously working on accumulating such quantity of bitcoin but due to the time frame and the price of bitcoin in the long run with how our income will play out in the long run, we might not be able to reach our exact target but we would definitely get closer it to, despite all the seriousness and persistent to keep our bitcoin accumulation ongoing.