Buy the DIP, and HODL!

[bestcandy]

You may also want to keep a back up of your wallet, and you also might want to have instructions for heirs in the event of your death.  These are not easy questions or problems to solve, to the extent that you might either want to make sure you don't lose your seed words due to some kind of natural disaster (fire or something), and that you have some preference to passing your coins to heirs rather than dying with them.

There won't be any attorney that will distribute your bitcoins to your next of kin after your death, one has to do it himself. There are lot of bitcoin lost forever because of owner losing the keys or due to death of owner. This is something one has to take very seriously, if you have Bitcoins then you must inform your next of kin how to use them after your death. Make sure your hard work is not wasted once you leave this world.

Surely some folks have attorneys or other people they trust in their lives with the most intimate of details, and there can be a variety of ways for persons to make sure that they have some kind of a successorship system in place.  Trusted persons might have some or all of the material, and trusted persons might not even know the complete contents of the materials that they hold if there might be a sealed envelope or a safe or maybe there would be instructions to contact another trusted person (named Benny) for further instructions or for other parts of the puzzle.

i am not suggesting that there is any ONE correct way, even though I am suggesting that some people may well not end up adequately putting systems in place or keeping the information up-to-date if there might be some papers with passwords, there might be a failure to update the sheet after some of the passwords end up needing to be changed.

Yeah , there's nothing wrong with having someone you can trust with your keys to avoid any loss of funds due to lost of passwords or death, but in determining who to give you have to take your time first to see whose trust worthy , because endup telling the wrong person,  the asset may endup still better been lost . Because some folks  can run with your asset before any of these tragic events (such as lost of passwords or death) takes place .

But having a good successor will actually help to prevent your asset from been lost in such way , because even though you endup forgetting the password, your successor would be able to help you   access the password whenever you misplaced it.

Sometimes, there may be some uncertainty which may result to someone loosing his/ her Bitcoin, so to avoid such uncertainty there is need to be proactive such as backing up wallet and passing instructions to heirs or next of kin to inherit the Bitcoin. However, I think one of the problem with heirs or next of kin is trust and integrity issues because if you make a wrong person your next of kin and make your password known to the person when you have a significant Bitcoin investment in place it may be dangerous because the next of kin depending on the person may possibly be planning to take possession of your Bitcoin even when you are still alive. So, think there is need to be very careful when choosing a next of kin.

[Solokan]

In as much as Bitcoin investment is concerned,it takes the strong hearted to invest in it,even when using the DCA method or otherwise because of the fear of the unknown about the market price and alot of risk involved in it ,when using DCA method, it helps you accumulate and manage your resources to constantly be in the market,since it does not have a fixed amount to buy, instead you buy what you can afford,DCA method remains the best method of accumulating if you choose to buy bit by bit no matter how little it might be,you keep growing.

It is true that investing in BTC certainly requires a strong heart because BTC fluctuations are still ongoing and if our hearts are strong, of course when doing DCA we will be calm and comfortable and of course we must have reserve funds so that we can be calm when investing in BTC.

It's true what you say DCA is the best method for accumulating BTC and can certainly be done by anyone. Yes, to be honest, I personally really like this DCA method and it seems that to this day, this method is still popular with many people and to be honest, I have been doing DCA for about 1 year now and I feel like I am never satisfied with collecting BTC because of course DCA is a method. which is good and what is certain is that we don't care about market movements and definitely only focus on the amount of BTC that we are collecting.

[JayJuanGee]

[edited out]

I think the perfection that you have is certainly none other than continuing to follow up on your investment, because in the explanation where you are in a stressful situation when you have to pay off the business lease agreement and you can also make good decisions at that time.

Have you known or implemented DCA longer before 2013, because from the explanation of course you can increase more btc ownership. Perfection may be quite difficult to do but if there are no mistakes and full of caution of course 90% is included in the perfect category that has been done.

DCA can be used in a lot of investment situations, and it can even be used in trading situations to get a stake in some asset over time.  Surely some guys mistakenly apply DCA to shitcoins or even falsely conclude that shitcoins have long term value, so they might even DCA into shitcoins while the shitcoins are going to zero, so DCA does not tend to work as well if the asset is trending down rather than up.

One of the better ways to justify DCAing into anything is to come to the conclusion that the asset is quite likely to trend towards the upside during the period in which the person is investing into it, and sure there is still no guarantee that a person had accurately assessed the price trajectory of the asset, yet if at least he has made such assessment that the asset is trending up, then he is likely justified to DCA into it.

I am pretty sure that a lot of people use DCA, and they are not even sure that they are doing it.  I recall around 40-ish years ago, I was regularly buying bonds that were supposed to double in value over a certain period of time, so I would buy them regularly and expect that if I buy the whole cycle in which the bond was expected to double, then I could always have bonds, since I would be able to buy for 8 years or whatever was the period and then sell the old bonds to buy new bonds when they doubled, and sure that was probably not the smartest thing to be doing, but  it was something that I did many years before bitcoin, and sure I had other investments that included DCAing, including a 401k that I had and some other investments.  The 401k had a matching component from my employer for the first 5% of my salary, which I considered to be bonus reason to buy into it besides the tax benefits too.

What I want to achieve is perhaps perseverance in achieving gradual accumulation this year, I plan to balance my investment more in bitcoin than gold. I want bitcoin to be number 1 in my life and gold number 2, meaning that my ownership percentage may be above 66% for bitcoin and the rest in gold.

Even so, I have stopped investing in gold and prefer bitcoin which I have been running which is now entering its 3rd year. I imagine a comfort when the price of bitcoin goes up, the reason is because I am more enthusiastic to continue buying.

Frankly, the investment journey is very difficult, sometimes you have to be in a more appropriate position when economic problems come suddenly.

However, with your history that you have described, of course we learn a lot. we have to adjust the budget with wiser adjustments, for emergency fund reserves and also adjustments for living needs to continue the process as usual or not to waste more strongly when the focus for now is only on investment.

There can be good feelings to build up an investment and even if we might not exactly get to fuck you status, we still are likely advantaged through our building up our investments and even having had established various kinds of back up cash (such as reserve funds), so if we end up entering into a stressful situation - that might even be considered an emergency, then sometimes we might be able to make through the whole emergency and get back on our feet, without even having to deplete all of our  funds or even to stop investing in bitcoin because perhaps we had built such strength in our various back up funds that we did not even have to tap into our emergency funds.

There also could be situations in which we see others going through emergencies, and we might even be able to save them from their own lack of proper cashflow management and finances, and we can feel good about those kinds of situations, even though we likely also have to be careful if we might end up bailing out others, and if the others are not learning how to fix their cashflow situation and their investments, so it may not be a good thing to overly extend our finances due to other people making bad choices, even though surely we sometimes have people in our family who fail/refuse to learn good cashflow management and making reasonable investments, so sometimes it can be difficult to figure out where to draw the line in regards to bailing out others, even though it still might make us feel good to have the choice in regards to being able to do it or figuring out the extent to which we might choose to ONLY "partially" do it, and sometimes even if we are able to bail others out, it may well not be a good idea to either bail them out or to tell them that we are able to bail them out.

You may also want to keep a back up of your wallet, and you also might want to have instructions for heirs in the event of your death.  These are not easy questions or problems to solve, to the extent that you might either want to make sure you don't lose your seed words due to some kind of natural disaster (fire or something), and that you have some preference to passing your coins to heirs rather than dying with them.

There won't be any attorney that will distribute your bitcoins to your next of kin after your death, one has to do it himself. There are lot of bitcoin lost forever because of owner losing the keys or due to death of owner. This is something one has to take very seriously, if you have Bitcoins then you must inform your next of kin how to use them after your death. Make sure your hard work is not wasted once you leave this world.

Surely some folks have attorneys or other people they trust in their lives with the most intimate of details, and there can be a variety of ways for persons to make sure that they have some kind of a successorship system in place.  Trusted persons might have some or all of the material, and trusted persons might not even know the complete contents of the materials that they hold if there might be a sealed envelope or a safe or maybe there would be instructions to contact another trusted person (named Benny) for further instructions or for other parts of the puzzle.

i am not suggesting that there is any ONE correct way, even though I am suggesting that some people may well not end up adequately putting systems in place or keeping the information up-to-date if there might be some papers with passwords, there might be a failure to update the sheet after some of the passwords end up needing to be changed.

Yeah , there's nothing wrong with having someone you can trust with your keys to avoid any loss of funds due to lost of passwords or death, but in determining who to give you have to take your time first to see whose trust worthy , because endup telling the wrong person,  the asset may endup still better been lost . Because some folks  can run with your asset before any of these tragic events (such as lost of passwords or death) takes place .

But having a good successor will actually help to prevent your asset from been lost in such way , because even though you endup forgetting the password, your successor would be able to help you   access the password whenever you misplaced it.

Probably one of the best kinds of persons to know how to access your stuff or to have access to your back up seed or your instructions for  successorship is someone who will not access such information until authorized to do so, such as your death or incapacitation.  I believe another forum member mentioned that if more than one person has access to a key or a back up and then something ends up happening, like a hack or some other breach, then there could be some difficulties to prove which of the other ones might have done it.

You may also want to keep a back up of your wallet, and you also might want to have instructions for heirs in the event of your death.  These are not easy questions or problems to solve, to the extent that you might either want to make sure you don't lose your seed words due to some kind of natural disaster (fire or something), and that you have some preference to passing your coins to heirs rather than dying with them.

There won't be any attorney that will distribute your bitcoins to your next of kin after your death, one has to do it himself. There are lot of bitcoin lost forever because of owner losing the keys or due to death of owner. This is something one has to take very seriously, if you have Bitcoins then you must inform your next of kin how to use them after your death. Make sure your hard work is not wasted once you leave this world.

Surely some folks have attorneys or other people they trust in their lives with the most intimate of details, and there can be a variety of ways for persons to make sure that they have some kind of a successorship system in place.  Trusted persons might have some or all of the material, and trusted persons might not even know the complete contents of the materials that they hold if there might be a sealed envelope or a safe or maybe there would be instructions to contact another trusted person (named Benny) for further instructions or for other parts of the puzzle.

i am not suggesting that there is any ONE correct way, even though I am suggesting that some people may well not end up adequately putting systems in place or keeping the information up-to-date if there might be some papers with passwords, there might be a failure to update the sheet after some of the passwords end up needing to be changed.

Yeah , there's nothing wrong with having someone you can trust with your keys to avoid any loss of funds due to lost of passwords or death, but in determining who to give you have to take your time first to see whose trust worthy , because endup telling the wrong person,  the asset may endup still better been lost . Because some folks  can run with your asset before any of these tragic events (such as lost of passwords or death) takes place .

But having a good successor will actually help to prevent your asset from been lost in such way , because even though you endup forgetting the password, your successor would be able to help you   access the password whenever you misplaced it.

Sometimes, there may be some uncertainty which may result to someone loosing his/ her Bitcoin, so to avoid such uncertainty there is need to be proactive such as backing up wallet and passing instructions to heirs or next of kin to inherit the Bitcoin. However, I think one of the problem with heirs or next of kin is trust and integrity issues because if you make a wrong person your next of kin and make your password known to the person when you have a significant Bitcoin investment in place it may be dangerous because the next of kin depending on the person may possibly be planning to take possession of your Bitcoin even when you are still alive. So, think there is need to be very careful when choosing a next of kin.

For sure a danger if there is not large amounts of confidence, and so in some instances, the full information would ONLY come available upon the passing of incapacitation rather than giving complete information, and so it might not be easy, including preventing collusion, yet it becomes less likely if one, two or three "trusted" persons would end up having to collude against you while you were still living... and there are some ways to design in such a way that some persons do not know some parts of the puzzle while others don't know other parts, and they might not even realize it is a puzzle until after you had already passed, and then they find further instructions that are located in a place that you had guarded and they did not realize that it was a guarded place until opening up the envelope  (or something like that). .sure it may well not be fool proof, but it might help to keep honest people from becoming dishonest, at least during your lifetime  (or they don't really have the opportunity, until at a later date, which maybe no longer matters to you because you are both dead and you are wanting them to receive possession of the keys and that is what ended up happening ONLY after you died and after the 1, 2 or 3 pieces.. and hopefully not too complicated, were put together.

[Ricardo11]

In as much as Bitcoin investment is concerned,it takes the strong hearted to invest in it,even when using the DCA method or otherwise because of the fear of the unknown about the market price and alot of risk involved in it ,when using DCA method, it helps you accumulate and manage your resources to constantly be in the market,since it does not have a fixed amount to buy, instead you buy what you can afford,DCA method remains the best method of accumulating if you choose to buy bit by bit no matter how little it might be,you keep growing.

It is true that investing in BTC certainly requires a strong heart because BTC fluctuations are still ongoing and if our hearts are strong, of course when doing DCA we will be calm and comfortable and of course we must have reserve funds so that we can be calm when investing in BTC.

It's true what you say DCA is the best method for accumulating BTC and can certainly be done by anyone. Yes, to be honest, I personally really like this DCA method and it seems that to this day, this method is still popular with many people and to be honest, I have been doing DCA for about 1 year now and I feel like I am never satisfied with collecting BTC because of course DCA is a method. which is good and what is certain is that we don't care about market movements and definitely only focus on the amount of BTC that we are collecting.

Bitcoin price fluctuations are nothing new, they will always be there, but if a investor want to achieve long-term success from Bitcoin investment, so he cannot pay attention to its fluctuations, and for those who invest with a long-term perspective, the DCA method is the best investment method. When an investor does not worry about short-term market fluctuations, and only accumulates Bitcoin for long-term goals, then he will be able to achieve real success in Bitcoin. And for this, the DCA method is most effective, but to operate DCA smoothly, you must have an emergency fund ready and a stable source of income, because unexpected situations can come at any time, and at that time, you must have an emergency fund ready so that your holdings are not interrupted. As a result, an investor can operate DCA for a long time, and build a strong Bitcoin stash, so he will be able to achieve much better success in the long term.

[Pi-network314159]

There is no way a poor bitcoin investor will accumulate more bitcoin more than the rich bitcoin investor the rich folk might decide to invest aggressively in such a way that it won't even affect his personal living or needs, he might also even choose to be using the lump sum strategy to accumulate at times and still continuously using the DCA strategy unless in a case where by the rich guy is just trading and not investing and the poor guy is continually using the DCA strategy and hold for long probably 10 years and more then I will agree with you if not such case I believe am still right about my word you bolded.

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Bro their is no point arguing over this here, looking at it logically, if a rich guy is as consistent in his accumulation as the poor, their is no way the poor is going to accumulate more stash of Bitcoin than the rich because their purchasing power is not on the  same level, and do not forget that the rich even have the financial leverage to even buy aggressively during a dip more than the poor, so tell me how the poor is going to accumulate more Bitcoin than a rich guy that is consistent and focus when accumulating, if you are talking about a rich guy that isn't consistent and isn't serious about it then it's understandable, but not when the rich guy is also as serious as the poor guy.

For you both Zacks5000 and Bariku1, i don't know the best way to describe my explanation about the rich and the poor guy investment into Bitcoin, but I think I have seen a video that suits my explanation. This is a race of <<Tortise vs rabbit>>, both are set for a race, the rabbit has a strong chance of wining the race but due to it being whimpy the Tortise won the race.

You can watch the video in this link for clear understanding

[Promocodeudo]

In as much as Bitcoin investment is concerned,it takes the strong hearted to invest in it,even when using the DCA method or otherwise because of the fear of the unknown about the market price and alot of risk involved in it ,when using DCA method, it helps you accumulate and manage your resources to constantly be in the market,since it does not have a fixed amount to buy, instead you buy what you can afford,DCA method remains the best method of accumulating if you choose to buy bit by bit no matter how little it might be,you keep growing.

This statement  of yours shows that you may not have understood the concept of Bitcoin and what Bitcoin investment stands for in a long-term, so up till now there are still people doubting Bitcoin investment, that's so absurd to hear this,  when you say stronghearted i wanted you to explain further but you ended up messing the whole thing up, I think your doubt is too much about Bitcoin even after Bitcoin has made this level of progress this is funny, buddy there is nothing anyone should be afraid of in Bitcoin investment, as a matter of fact people like you needs DCA method because it willl help you not to be idle atleast yiu can keep investing the amount you can afford weekly or mothly steadily, consistently and may be increase your DCA level as time goes by when you're finally  convinced about the said investment.

You sounded as if Bitcoin is not trusted investment, this is an investment that has proven its authenticity and relevance for a good number of years now, mate your statemants looks like someone who's still on a long thing, I advise you to make the bold step if you haven't done that already to avoid regret later,  how would martket fluntuation be a problem to anyone when it's what keep the system intact, even though you worry about the market price why not concentrate on using DCA method to accumulate your Bitcoin and avoid looking at the price at all time.
Mate since get to know about Bitcoin, has the price price drop without rising to a point that bitcoiners will say it has done noble? Talking about risk, what risk have you noticed in Bitcoin investment that's not part of the process?
I think you really need to stop some of this discoragemnt talks because you don't know who's is reading through the lines here, this could reset newbies mindset and you know what that means.

[Lanatsa]

In as much as Bitcoin investment is concerned,it takes the strong hearted to invest in it,even when using the DCA method or otherwise because of the fear of the unknown about the market price and alot of risk involved in it ,when using DCA method, it helps you accumulate and manage your resources to constantly be in the market,since it does not have a fixed amount to buy, instead you buy what you can afford,DCA method remains the best method of accumulating if you choose to buy bit by bit no matter how little it might be,you keep growing.

You really don't know what is DCA i see. When you are investing using DCA you don't get to bother about the market price so where is the fear of the unknown coming from? When an investor keeps looking at the price of Bitcoin consistently and having this fear of what the price would be next then he is constantly timing the market. And timing the market is wrong.

Lol, sometimes I wonder where they get this impression  from that with bitcoin and of all strategy the DCA you should be afraid of volatility of the market. Volatility  in the first place is a gift and the reason Bitcoin  keeps soaring higher unlike stable coins  which can be in a fixed price for a long period  of time, and even loss value due to inflation.  Maybe bro thought Bitcoin has thesame feature as some of those shitcoin and scam project or he may probably be thinking about bitcoin in short term investment.  I'll advice you take some time to go back to bitcoin price chart right from genesis block till date and tell me what you see. Its obvious  if you were DCAing from for a year now you'll be amazed  of what you've  accumulated so far and the profits that has also added to your holdings. Well it's a good thing you came to the right place to spill out your understanding so you can be helped. DCA is so far one of the best and reliable strategy used to accumulate bitcoin irrespective of the amount  you want to buy as long as you do it at your own pace and convenience, you could do your DCAing weekly, 2x a month depending on your ability without running out of cash for other important needs. And you may also want to know about securing an emergency fund which could also be separated alongside your DCA but in a fiat form, so you don't get to use your bitcoin accumulate should in case an emergency need arises.

We can commonly say that people who do lack experience or simply being those newbies are the ones who do get easily affected with this kind of situation or in speaking about volatility but we do know that there are people that they've been here on this market for a while but still they have been that get those kind of mistakes on being that having that easily be shaken once they have seen that the market do make out some serious correction. Just like on what we have seen recently the price had played out on 100k+ and now its currently sitting on 94k on which 5% down in a day is never been something new. Why they would really be that anticipating for some crash?

DCA would really be always the key whenever the market do make out some correction. The main issue for most is that they cant be able to handle the volatility and thats why on the time or moment that they've been that trying out to make up some positions whether seeking for some entry then they would really be having those doubts. The key on here is that you should really be that investing on what you can afford to lose so that you wont really be that panicking at the time that the market do move on opposite on what you had anticipated. If you arent that getting used to these movements then this market isnt for you. This is why its really that important that you should be wary into the actions that you are taking into.

[Zackz5000]

There is no way a poor bitcoin investor will accumulate more bitcoin more than the rich bitcoin investor the rich folk might decide to invest aggressively in such a way that it won't even affect his personal living or needs, he might also even choose to be using the lump sum strategy to accumulate at times and still continuously using the DCA strategy unless in a case where by the rich guy is just trading and not investing and the poor guy is continually using the DCA strategy and hold for long probably 10 years and more then I will agree with you if not such case I believe am still right about my word you bolded.

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Bro their is no point arguing over this here, looking at it logically, if a rich guy is as consistent in his accumulation as the poor, their is no way the poor is going to accumulate more stash of Bitcoin than the rich because their purchasing power is not on the  same level, and do not forget that the rich even have the financial leverage to even buy aggressively during a dip more than the poor, so tell me how the poor is going to accumulate more Bitcoin than a rich guy that is consistent and focus when accumulating, if you are talking about a rich guy that isn't consistent and isn't serious about it then it's understandable, but not when the rich guy is also as serious as the poor guy.

For you both Zacks5000 and Bariku1, i don't know the best way to describe my explanation about the rich and the poor guy investment into Bitcoin, but I think I have seen a video that suits my explanation. This is a race of <<Tortise vs rabbit>>, both are set for a race, the rabbit has a strong chance of wining the race but due to it being whimpy the Tortise won the race.

You can watch the video in this link for clear understanding

Thats the brain of an animal the video you shown can mean different thing to me the video explain that what ever you doing you should focus you shouldn't get distracted or discouraged due to what you are seeing around or what people is telling you focus on your goal you will definitely win one day that's how I understand the video it could also mean different thing to you, so the tortoise won because his focus was on the goal it could even be that before they got that particular video they might have tried so many times and the rabbit keep winning before they finally got one that the tortoise won. A rich investor who knows the worth and value of accumulating Bitcoin and HODL for long can never be compare with poor investor who sometimes will even struggle to accumulate Bitcoin in some week and a rich guy who at time can even be accumulating Bitcoin with the lump sum strategy and also continuously dacing regularly every weeks or months due to sufficient discretionary income.

[retreat]

Buddy yea people decide to chose whatever strategy they are comfortable with but in all many people still prefer DCA method no doubt, I don't understand what you mean by lump sum being risky because of volatility, mate volatility is Bitcoin thing and I believe that an interested and a ready investor that understand the concept of Bitcoin will not want to buy with a lump sum amount just because of volatility I don't think you're right in this one, even though such person decide not but in lump sum does that stop volatility, volatility favour both upsurge and dip but that wouldn't deter anyone from buying in a lump sum if they have the lump sum amount ready at anytime.

-snip-

Quite agree with what you said that people who do not choose to invest with a lump sum are not because of the volatility of the bitcoin price, but it could be more about him choosing to play it safe and less stressed by doing DCA. It's like someone who is new to Bitcoin and only has basic knowledge, but he wants to jump into Bitcoin investment, he chooses to do DCA more to invest gradually either daily or weekly, it's like testing the waters before fully committing or involving his money completely in Bitcoin, and while seeing how his risk tolerance is on that.

There are many investors who are afraid to invest in the beginning, they are afraid to invest in Bitcoin due to market volatility, for them, investing in DCA on the one hand makes the investor confident and on the other hand they are able to learn more about Bitcoin. Because of which they increase the investing amount in the future. By doing DCA, an investor benefits in all areas. Some new investors may be encouraged to invest in other cryptocurrencies without increasing their Bitcoin investment because they do not have enough money. But if they plan to do DCA, they can only hold Bitcoin regularly. Applying this strategy, an opportunity will be created for long-term holding, which can make the investor profitable.

For those who are interested in lump sum investments, it can be difficult to hold Bitcoin for the long term. They may sell Bitcoin for a small profit, but those who plan for the long term by doing DCA can be a strong holder. Stress free investing can certainly give the investor many advantages in holding it for the long term.

I don't really agree with the last paragraph of what you said. No one can guarantee that someone who does DCA can become a long-term holder, or that those who choose lump sump are more difficult to become long-term holders. It's all about their knowledge and mentality as an investor. There are also people who do DCA and invest regularly, but when the market drops like now, they become shaky and sell all the bitcoins they hold, worried that their money will decrease - their lack of knowledge and mentality makes them make the wrong decision. But there are also people who choose lump sump in bitcoin, and hold it for a long time, because they already have the right knowledge and strong mentality as a bitcoin investor, so that when the market fluctuates, they are not affected and continue to hold their bitcoins until their goals are achieved. It's all about the mentality and knowledge of the person.

[Mayor of ogba]

One technical side of Bitcoin holding is that patience alone is not enough for you to hold successfully on the longer run, because at the end of the day, a source of income and an emergency funds is even more important than been patience because you might be forced to sell at a loss or even prematurely so as to address a pressing financial needs or an emergency like health issues, though patience is important, but patience alone is not enough to hold successfully, a source of income and an emergency funds are very much key in your ability to hold without tempering with it in the future.

It is necessary to have a steady source of income and set aside emergency funds before starting an investment. These are the foundational key things often called safety nets. Without them, even the most patient of all investors will face challenging situations where they might be temped to tamper their investment prematurely which might often lead to loss.

Of course, setting aside emergency funds when you are investing in bitcoin is good because it is what will help you sort out your unforeseen problems when they arise in the future, but it is not compulsory that a newbie must set aside emergency funds before he or she will start investing in bitcoin. A newbie can start bitcoin investment and accumulate bitcoin for one month without even setting aside emergency funds, but during his or her accumulation journey, he or she can build his or her emergency funds up to three months.

[Makus]

We can commonly say that people who do lack experience or simply being those newbies are the ones who do get easily affected with this kind of situation or in speaking about volatility but we do know that there are people that they've been here on this market for a while but still they have been that get those kind of mistakes on being that having that easily be shaken once they have seen that the market do make out some serious correction. Just like on what we have seen recently the price had played out on 100k+ and now its currently sitting on 94k on which 5% down in a day is never been something new. Why they would really be that anticipating for some crash?

DCA would really be always the key whenever the market do make out some correction. The main issue for most is that they cant be able to handle the volatility and thats why on the time or moment that they've been that trying out to make up some positions whether seeking for some entry then they would really be having those doubts. The key on here is that you should really be that investing on what you can afford to lose so that you wont really be that panicking at the time that the market do move on opposite on what you had anticipated. If you arent that getting used to these movements then this market isnt for you. This is why its really that important that you should be wary into the actions that you are taking into.

You sound more like the inexperienced newbies you are trying  to talk about. If I may ask, what do you mean by investing on what you can afford to lose? Or be wary of actions that you are taking?  Maybe you see bitcoin  as one of those shitcoin and shit projects, those will fit into your explanation. Well I'm  sorry to break to you that bitcoin is not one of those crypto coins,  Bitcoin is far better than what you can imagine right now. In bitcoin  investment  you put in what you can't afford to lose. Just imagine  saving up $2000 on your fiat bank since 2020 and and saving up another $2000 as bitcoin for that same time frame, trust me the different  would be obvious. As that of your bitcoin investment  would add value and profits, while your saving at your fiat bank may experience  inflation. Holding bitcoin for a long period of time will guarantee  you some profits  it doesn't  matter what time you got in, the most important  requirement  is that you stay patient  and let bitcoin reward you over time. There is no need to be afraid  of bitcoin investment or to be cautious  of the price movement, like I said earlier  irrespective  of the bearish and sideways movement we see today the overall outcome is definitely going to be a bullish trend when you zoom out the price chart. And I'll advice you don't focus on trading because  only those who make short term trades get threatened by the price correction or movement  against  their prediction, just stick with this thread, and you'll  discover  so much that will help your accumulation journey  gets  much better.

[Barikui1]

There is no way a poor bitcoin investor will accumulate more bitcoin more than the rich bitcoin investor the rich folk might decide to invest aggressively in such a way that it won't even affect his personal living or needs, he might also even choose to be using the lump sum strategy to accumulate at times and still continuously using the DCA strategy unless in a case where by the rich guy is just trading and not investing and the poor guy is continually using the DCA strategy and hold for long probably 10 years and more then I will agree with you if not such case I believe am still right about my word you bolded.

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Bro their is no point arguing over this here, looking at it logically, if a rich guy is as consistent in his accumulation as the poor, their is no way the poor is going to accumulate more stash of Bitcoin than the rich because their purchasing power is not on the  same level, and do not forget that the rich even have the financial leverage to even buy aggressively during a dip more than the poor, so tell me how the poor is going to accumulate more Bitcoin than a rich guy that is consistent and focus when accumulating, if you are talking about a rich guy that isn't consistent and isn't serious about it then it's understandable, but not when the rich guy is also as serious as the poor guy.

For you both Zacks5000 and Bariku1, i don't know the best way to describe my explanation about the rich and the poor guy investment into Bitcoin, but I think I have seen a video that suits my explanation. This is a race of <<Tortise vs rabbit>>, both are set for a race, the rabbit has a strong chance of wining the race but due to it being whimpy the Tortise won the race.

You can watch the video in this link for clear understanding

No oo, we all know that this are animals, and they don't have the knowledge that humans possess, and another thing you also need to understand is that they don't have the knowledge to know what's at stake in that race, so it's not ideal to judge a rich and poor Bitcoin investor accumulation capabilities with this video, because if you even look at it closely, the rabbit is very clueless on what is required of him and the tortoise was just moving straight forward believing that it's the only way out of that place, so it's a wrong video to use in describing the accumulation process of a rich Bitcoin investor and a poor Bitcoin investor.
The only way a poor Bitcoin investor can accumulate more Bitcoin than a rich Bitcoin investor is if the rich guy fail to be consistent in his accumulation, aside that, their is no way a poor Bitcoin investor can accumulate more than the rich guy because their purchasing power is not the same.
And lastly, the rich guy have the financial leverage to buy aggressively, more than the poor guy during a dip, unless he is not serious, but if the rich guy is absolutely serious, their is no way the poor guy can accumulate more than him.

[GIF-JOBS]

One technical side of Bitcoin holding is that patience alone is not enough for you to hold successfully on the longer run, because at the end of the day, a source of income and an emergency funds is even more important than been patience because you might be forced to sell at a loss or even prematurely so as to address a pressing financial needs or an emergency like health issues, though patience is important, but patience alone is not enough to hold successfully, a source of income and an emergency funds are very much key in your ability to hold without tempering with it in the future.

It is necessary to have a steady source of income and set aside emergency funds before starting an investment. These are the foundational key things often called safety nets. Without them, even the most patient of all investors will face challenging situations where they might be temped to tamper their investment prematurely which might often lead to loss.

Of course, setting aside emergency funds when you are investing in bitcoin is good because it is what will help you sort out your unforeseen problems when they arise in the future, but it is not compulsory that a newbie must set aside emergency funds before he or she will start investing in bitcoin. A newbie can start bitcoin investment and accumulate bitcoin for one month without even setting aside emergency funds, but during his or her accumulation journey, he or she can build his or her emergency funds up to three months.

When it comes to investing in Bitcoin, a general rule is that one should build an emergency fund first, but if one wants to, one can start investing without building one at the beginning. However, after investing for a month or a few months, one should build an emergency fund so that they can be protected against any unforeseen circumstances in the future, because unforeseen circumstances can come in a person's life at any moment, and if the investor is not prepared to deal with those unforeseen circumstances at that time, then his holdings can be damaged, and we all know that if the Bitcoin holdings have to be sold suddenly, then the investor can suffer losses at that time. Because at that time the price of Bitcoin may be in a dumping situation, because Bitcoin is a volatile currency.

That is why, to invest in a highly volatile market like Bitcoin, investors should do proper research and develop a risk management strategy, You should use that money to invest in regular DCA, which you will not need in your daily life or any time, and keep all funds ready, emergency funds/reserve funds as well as all necessary funds. In this way, the more an investor invests in Bitcoin, the more secure and confident you can continue holding for Long time.

[rachael9385]

You may also want to keep a back up of your wallet, and you also might want to have instructions for heirs in the event of your death.  These are not easy questions or problems to solve, to the extent that you might either want to make sure you don't lose your seed words due to some kind of natural disaster (fire or something), and that you have some preference to passing your coins to heirs rather than dying with them.

There won't be any attorney that will distribute your bitcoins to your next of kin after your death, one has to do it himself. There are lot of bitcoin lost forever because of owner losing the keys or due to death of owner. This is something one has to take very seriously, if you have Bitcoins then you must inform your next of kin how to use them after your death. Make sure your hard work is not wasted once you leave this world.

Surely some folks have attorneys or other people they trust in their lives with the most intimate of details, and there can be a variety of ways for persons to make sure that they have some kind of a successorship system in place.  Trusted persons might have some or all of the material, and trusted persons might not even know the complete contents of the materials that they hold if there might be a sealed envelope or a safe or maybe there would be instructions to contact another trusted person (named Benny) for further instructions or for other parts of the puzzle.

i am not suggesting that there is any ONE correct way, even though I am suggesting that some people may well not end up adequately putting systems in place or keeping the information up-to-date if there might be some papers with passwords, there might be a failure to update the sheet after some of the passwords end up needing to be changed.

Yeah , there's nothing wrong with having someone you can trust with your keys to avoid any loss of funds due to lost of passwords or death, but in determining who to give you have to take your time first to see whose trust worthy , because endup telling the wrong person,  the asset may endup still better been lost . Because some folks  can run with your asset before any of these tragic events (such as lost of passwords or death) takes place .

But having a good successor will actually help to prevent your asset from been lost in such way , because even though you endup forgetting the password, your successor would be able to help you   access the password whenever you misplaced it.

Sometimes, there may be some uncertainty which may result to someone loosing his/ her Bitcoin, so to avoid such uncertainty there is need to be proactive such as backing up wallet and passing instructions to heirs or next of kin to inherit the Bitcoin. However, I think one of the problem with heirs or next of kin is trust and integrity issues because if you make a wrong person your next of kin and make your password known to the person when you have a significant Bitcoin investment in place it may be dangerous because the next of kin depending on the person may possibly be planning to take possession of your Bitcoin even when you are still alive. So, think there is need to be very careful when choosing a next of kin.

Sure, uncertainty, based on the importance of choosing a trustworthy person as next of kin who will inherit your Bitcoin portfolio. However, one needs to make sure he's given access to a trustworthy person who will respect his or her wishes and can manage his investment carefully after gaining access to it. Before giving access to your next of kin, you need to make the person understand Bitcoin investment, including how to increase the portfolio and how to manage the wallet and seed phrase. 

After giving your next of kin access to your Bitcoin investment, you also need to constantly check your portfolio and ensure you share Bitcoin updates regularly with him/her to ensure things are accurate. And before doing this, you need to ensure you have activated a 2FA method on your wallet so that it can prevent unauthorized access to your Bitcoin portfolio (except by you and your next of kin).

[Stablexcoin]

For those who are interested in lump sum investments, it can be difficult to hold Bitcoin for the long term. They may sell Bitcoin for a small profit, but those who plan for the long term by doing DCA can be a strong holder. Stress free investing can certainly give the investor many advantages in holding it for the long term.

I disagree with you here. You are getting it all wrong. The strategy an investor chooses to implement in their investment does not guarantee that they will be a long-term holder or not. This means that whether they use DCA lr Lump sum the choice is theirs to make if they want to hold their investment for long term or short term. The essence of this strategy is to help people buy/accumulate Bitcoin.

There are many investors who are afraid to invest in the beginning, they are afraid to invest in Bitcoin due to market volatility, for them, investing in DCA on the one hand makes the investor confident and on the other hand they are able to learn more about Bitcoin. Because of which they increase the investing amount in the future. By doing DCA, an investor benefits in all areas. Some new investors may be encouraged to invest in other cryptocurrencies without increasing their Bitcoin investment because they do not have enough money. But if they plan to do DCA, they can only hold Bitcoin regularly. Applying this strategy, an opportunity will be created for long-term holding, which can make the investor profitable.

The only fear an investor should have is the fear of not starting their investment when they are ready. If they have learnt a few things about Bitcoin by now they should know that market volatility is the least thing a long term investor should be worried about. I can say they are only procasitinating based on other reasons then putting the blame on market volatility. Thats just it.

[Mayor of ogba]

One technical side of Bitcoin holding is that patience alone is not enough for you to hold successfully on the longer run, because at the end of the day, a source of income and an emergency funds is even more important than been patience because you might be forced to sell at a loss or even prematurely so as to address a pressing financial needs or an emergency like health issues, though patience is important, but patience alone is not enough to hold successfully, a source of income and an emergency funds are very much key in your ability to hold without tempering with it in the future.

It is necessary to have a steady source of income and set aside emergency funds before starting an investment. These are the foundational key things often called safety nets. Without them, even the most patient of all investors will face challenging situations where they might be temped to tamper their investment prematurely which might often lead to loss.

Of course, setting aside emergency funds when you are investing in bitcoin is good because it is what will help you sort out your unforeseen problems when they arise in the future, but it is not compulsory that a newbie must set aside emergency funds before he or she will start investing in bitcoin. A newbie can start bitcoin investment and accumulate bitcoin for one month without even setting aside emergency funds, but during his or her accumulation journey, he or she can build his or her emergency funds up to three months.

That is why, to invest in a highly volatile market like Bitcoin, investors should do proper research and develop a risk management strategy, You should use that money to invest in regular DCA, which you will not need in your daily life or any time, and keep all funds ready, emergency funds/reserve funds as well as all necessary funds. In this way, the more an investor invests in Bitcoin, the more secure and confident you can continue holding for Long time.

It is true that bitcoin is highly volatile, but it is quite simple and easy to start investing in bitcoin, and even though you don't carry out proper research about bitcoin, you can easily start up a bitcoin investment once you have a basic knowledge about bitcoin. The most important thing you need if you want to invest in bitcoin is a steady source of income and discretionary income, which will always allow you to freely invest in bitcoin and still solve your daily expenses with ease so that you will not depend on your bitcoin investment to survive, which will give the advantage to hold your bitcoin for a very long time.

[fikrett]

For those who are interested in lump sum investments, it can be difficult to hold Bitcoin for the long term. They may sell Bitcoin for a small profit, but those who plan for the long term by doing DCA can be a strong holder. Stress free investing can certainly give the investor many advantages in holding it for the long term.

I disagree with you here. You are getting it all wrong. The strategy an investor chooses to implement in their investment does not guarantee that they will be a long-term holder or not. This means that whether they use DCA lr Lump sum the choice is theirs to make if they want to hold their investment for long term or short term. The essence of this strategy is to help people buy/accumulate Bitcoin.

Yep. A person buying in lumps or DCAing can hold for long, they two are capable of the same actions and the results would differ, however - they would probably still be positive.
It's about understanding Bitcoin and the actions that spring from it.

[Futurexxx]

For those who are interested in lump sum investments, it can be difficult to hold Bitcoin for the long term. They may sell Bitcoin for a small profit, but those who plan for the long term by doing DCA can be a strong holder. Stress free investing can certainly give the investor many advantages in holding it for the long term.

I disagree with you here. You are getting it all wrong. The strategy an investor chooses to implement in their investment does not guarantee that they will be a long-term holder or not. This means that whether they use DCA lr Lump sum the choice is theirs to make if they want to hold their investment for long term or short term. The essence of this strategy is to help people buy/accumulate Bitcoin.

You are very much right about this here, it doesn't really matter how you accumulate, which strategy is being utilized, the vital thing is to hold for a very long time,  and it's not true that because you buy and accumulate Bitcoin through the lumps sum strategy means that you can't be thinking long term, investing and holding for a very long time depends on the individual involved, as long as the will is there, what's stopping that person from buying and thinking long term?
So the DCA accumulating strategy or lump sum strategy doesn't determine wether the person is going long term or not.

Then as of the aspect of an investor being afraid to invest, in my own opinion, it all depends on what was shared to him or her, and most times it's because of misinformation about Bitcoin that makes most investors to be afraid of making the move in the first place.

[DubemIfedigbo001]

You may also want to keep a back up of your wallet, and you also might want to have instructions for heirs in the event of your death.  These are not easy questions or problems to solve, to the extent that you might either want to make sure you don't lose your seed words due to some kind of natural disaster (fire or something), and that you have some preference to passing your coins to heirs rather than dying with them.

There won't be any attorney that will distribute your bitcoins to your next of kin after your death, one has to do it himself. There are lot of bitcoin lost forever because of owner losing the keys or due to death of owner. This is something one has to take very seriously, if you have Bitcoins then you must inform your next of kin how to use them after your death. Make sure your hard work is not wasted once you leave this world.

Surely some folks have attorneys or other people they trust in their lives with the most intimate of details, and there can be a variety of ways for persons to make sure that they have some kind of a successorship system in place.  Trusted persons might have some or all of the material, and trusted persons might not even know the complete contents of the materials that they hold if there might be a sealed envelope or a safe or maybe there would be instructions to contact another trusted person (named Benny) for further instructions or for other parts of the puzzle.

i am not suggesting that there is any ONE correct way, even though I am suggesting that some people may well not end up adequately putting systems in place or keeping the information up-to-date if there might be some papers with passwords, there might be a failure to update the sheet after some of the passwords end up needing to be changed.

Yeah , there's nothing wrong with having someone you can trust with your keys to avoid any loss of funds due to lost of passwords or death, but in determining who to give you have to take your time first to see whose trust worthy , because endup telling the wrong person,  the asset may endup still better been lost . Because some folks  can run with your asset before any of these tragic events (such as lost of passwords or death) takes place .

But having a good successor will actually help to prevent your asset from been lost in such way , because even though you endup forgetting the password, your successor would be able to help you   access the password whenever you misplaced it.

In addition to what you've said, it's very important to back up your seed phrases offline and not in any online drive(eg Google drive or drop box) because if you lose your gadget or your email is compromised, you risk losing your wallet to the scammer since drives are always linked to emails. If you can, avoid storing your seed phrases online at all costs.

Also do not access your wallets over public Wi-Fi or any network provider you do not trust, reason being that every data sent over the network is very much visible to the network provider, so if you're using a questionable network and you access your wallet or create a new one, it's obvious your seed phrases and login details would be exposed and your wallet in danger of being compromised.

Finally ignore emails that you don't recognize it's sender whenever you're dealing with a device that contains your wallet. There are testimonies of people who got their wallets hacked from phishing attacks which occurs mostly via emails or text messages.

Remember, the security of your wallet is your greatest business.

[Jerrycrypto2024]

For those who are interested in lump sum investments, it can be difficult to hold Bitcoin for the long term. They may sell Bitcoin for a small profit, but those who plan for the long term by doing DCA can be a strong holder. Stress free investing can certainly give the investor many advantages in holding it for the long term.

I disagree with you here. You are getting it all wrong. The strategy an investor chooses to implement in their investment does not guarantee that they will be a long-term holder or not. This means that whether they use DCA lr Lump sum the choice is theirs to make if they want to hold their investment for long term or short term. The essence of this strategy is to help people buy/accumulate Bitcoin.

You are very much right about this here, it doesn't really matter how you accumulate, which strategy is being utilized, the vital thing is to hold for a very long time,  and it's not true that because you buy and accumulate Bitcoin through the lumps sum strategy means that you can't be thinking long term, investing and holding for a very long time depends on the individual involved, as long as the will is there, what's stopping that person from buying and thinking long term?
So the DCA accumulating strategy or lump sum strategy doesn't determine wether the person is going long term or not.

Then as of the aspect of an investor being afraid to invest, in my own opinion, it all depends on what was shared to him or her, and most times it's because of misinformation about Bitcoin that makes most investors to be afraid of making the move in the first place.

Yes totally agreed with the word misinformation of investor concerning buying of Bitcoin which leads to phobia or fear, but there is one major path which I discovered in most people or investor concerning decision taking, in terminology I call it "indicision spirit " it always acted as setback to many investor who possessed this spirit as they can't come to conclusions at the appreciate time to carryout their investment no matter how informed they are about the investment once this spirit hit them they begin to puzzle if they will or not venture into it. One of the consequences of this indicision leads to failure in holding for Long term even when the investor happened to invest.