Buy the DIP, and HODL!

[Obulis]

 Definitely there are always factors to consider when starting out investment, most importantly having the financial capacity of having a discretionary income, so when we consider our situation in life could be more of financial availability and being able to afford our expenses and paying our bills which are primary and essential needs as well, I really don’t think that we should consider our age when we want to start investing in Bitcoin, life is always full of uncertainty, considering that we’ve a discretionary income and we can continue to accumulate Bitcoin on a regular basis, marriage and all that are just all a bonus and also will still have to deal with our financial situation and expenses.

It could be an issue. To give you some context, if a person is 70 years old and he/she has enough money to enjoy the few years he/she has left, I believe investing in Bitcoin should be the LAST goal he/she should plan for himself/herself.

Compare that to a young individual in his/her 20s who has been saving MOST of his/her salary. If that individual is given an opportunity to invest in the lowest DIPs of a bear cycle, then he/she SHOULD use ALL of his/her savings.

I think you are right about what you said here concerning age, it plays an important role on how a Bitcoin investment should approach his investment, just as you have said already, you can't expect a 70year old Bitcoin investor still planning on holding for more than 10 years because he knows that he has a limited time, unlike those that are in their 20's.
But those in their 20's don't have to buy only the dip, they just have to buy anytime their discretionary income is available, but if their is a dip in the market they might seize the opportunity and buy aggressively if they have their reserves funds to do so, because they have quite a lot of time to reap from their investment when bitcoin has risen up to a million dollar or more.

See link why a 70 years person can still invest in Bitcoin or any other asset much beautiful if they have profound knowledge of BTC.
https://bitcointalk.org/index.php?topic=5551302.msg65645649#msg65645649

Then to think of holding for longer time (10 years)?
Look at it, at that age, the doings can't be for them but the people around, grand children even. At that age getting money is at least supposed to carry a different approach when compared with youthful days...
There’s a neighbor who stopped his 65 years old dad from doing any work because he first of all got a big job and later ventured into business (s) and also invested in BTC but i was like seeing no need to stopping his dad from doing any job. For me he can carry on with his work life but on different frequency as this might mean so much to him living longer even.
70 years old person investing in Bitcoin with part of their discretionary or available fund is an encouragement to the young people. Not to forget, it can't be the same vibe as that of a youth...
So they can plan to hold Bitcoin for 10 years since it's no longer about them but the people around, investing and also transferring  their knowledge to any one ready to learn.

[Jostern]

I doubt anyone is saying that a steady income is not important, but instead saying that a steady income is not required in order to determine to invest into bitcoin.  The thing that is needed is discretionary funds, and discretionary funds can come from a variety of places, including from non steady income sources, or even prior building up of back up funds or even from the use of debt... and yeah, even though a steady income can make things easier, it is not required in order to be able to buy bitcoin.. .what is needed is discretionary funds.

You’re absolutely right, I’ve always known that we don’t necessarily need a steady income to invest and keep accumulating bitcoin on a daily or weekly or monthly basis, because what we actually need and requires is a discretionary income which is quite able to sustain our investments as well, I know some guys who have been investing in bitcoin for quite a long time now and have been sustaining their investments, they actually don’t have a stable income like most people think, we only do require a discretionary income which is possible to come from different sources which might necessarily not be from a stable income.

I know of a friend who have been investing in bitcoin for years, he doesn’t have a steady income but sometimes he has little income which are not even steady, sometimes he gets money from family members, he also do some minor jobs as well, which isn’t always and he gets the money and after trying to pay some bills, actually he was sharing bills with a housemate it was quite easy for him to take care of some little things, and one day he told me he wanted to start investing in bitcoin, and the most important thing for him was that he started with a little discretionary income, and there wasn’t even a steady income for him, but I understand he was determined and just wanted to invest and keep accumulating on a steady basis. And he has been investing consistently ever since he started.

[iamsange]

~...~

~...~

Okay mate, I understand your example, but what I mean is that if he waits to deposit money into his fund, his investing will be delayed. So if he starts saving Bitcoin along with depositing money into his fund, it would be very good for him. What I mean is that if he deposits some money into his fund and saves Bitcoin at the same time, his investing will continue and his fund will start accumulating money along with it.

People who are serious about investing by buying Bitcoin won't delay if conditions are still good and there are no disasters preventing them from doing so. And depositing funds into a wallet with the intention of buying Bitcoin is part of the effort that a serious investor must make to stay focused on their investment. As for other matters, I think every investor has prepared more thoroughly and precisely so that their work is not hampered or disrupted by any circumstances.

I can understand what you're saying, as it's a very simple part for any investor to grasp. However, when it comes to investing, there's a crucial point that must be truly implemented and maintained: consistency in purchasing without any influence or coercion from others. Investors who believe in the future of their Bitcoin investments will never be tempted by the lure of others using assets they're unfamiliar with. Therefore, the focus of their investments must be truly consistent and ongoing, if they use the DCA method.

[Tamaperdana]

 Definitely there are always factors to consider when starting out investment, most importantly having the financial capacity of having a discretionary income, so when we consider our situation in life could be more of financial availability and being able to afford our expenses and paying our bills which are primary and essential needs as well, I really don’t think that we should consider our age when we want to start investing in Bitcoin, life is always full of uncertainty, considering that we’ve a discretionary income and we can continue to accumulate Bitcoin on a regular basis, marriage and all that are just all a bonus and also will still have to deal with our financial situation and expenses.

It could be an issue. To give you some context, if a person is 70 years old and he/she has enough money to enjoy the few years he/she has left, I believe investing in Bitcoin should be the LAST goal he/she should plan for himself/herself.

Compare that to a young individual in his/her 20s who has been saving MOST of his/her salary. If that individual is given an opportunity to invest in the lowest DIPs of a bear cycle, then he/she SHOULD use ALL of his/her savings.

I think you are right about what you said here concerning age, it plays an important role on how a Bitcoin investment should approach his investment, just as you have said already, you can't expect a 70year old Bitcoin investor still planning on holding for more than 10 years because he knows that he has a limited time, unlike those that are in their 20's.
But those in their 20's don't have to buy only the dip, they just have to buy anytime their discretionary income is available, but if their is a dip in the market they might seize the opportunity and buy aggressively if they have their reserves funds to do so, because they have quite a lot of time to reap from their investment when bitcoin has risen up to a million dollar or more.

See link why a 70 years person can still invest in Bitcoin or any other asset much beautiful if they have profound knowledge of BTC.
https://bitcointalk.org/index.php?topic=5551302.msg65645649#msg65645649

Then to think of holding for longer time (10 years)?
Look at it, at that age, the doings can't be for them but the people around, grand children even. At that age getting money is at least supposed to carry a different approach when compared with youthful days...
There’s a neighbor who stopped his 65 years old dad from doing any work because he first of all got a big job and later ventured into business (s) and also invested in BTC but i was like seeing no need to stopping his dad from doing any job. For me he can carry on with his work life but on different frequency as this might mean so much to him living longer even.
70 years old person investing in Bitcoin with part of their discretionary or available fund is an encouragement to the young people. Not to forget, it can't be the same vibe as that of a youth...
So they can plan to hold Bitcoin for 10 years since it's no longer about them but the people around, investing and also transferring  their knowledge to any one ready to learn.

I think when someone who is more than 60 years old then invests in bitcoin, it can be done and no one will prohibit this action. Although it is true that in old age, the potential to be able to enjoy the results of bitcoin investment is indeed a little minimal due to the age factor. But it still won't be a futile thing. Because as Obulis said, it could be a bitcoin investment made by people over 60 years old for their children and grandchildren. I think this is a very noble act. Because basically bitcoin investment also does not mean that it must be enjoyed alone, but it can also make our children and grandchildren happy.

But if for example there are people who are 60 years old and above and invest in bitcoin for their personal goals, I think this is certainly an action that might be a little less appropriate. Because if the person intends to invest in bitcoin for his personal pleasure, most likely the person is not thinking long. Because surely people like that don't think about their age. But even so, we cannot deny that everyone has their own desires, so yes it all depends on each one. And the conclusion that I can get, in essence we should not waste our time, especially for young people who may still have a long future.

So basically if we currently have discretionary funds, I think it should be invested in bitcoin. Because in my opinion this is a very appropriate action to make our lives more comfortable in the future.

[Kelward]

I doubt anyone is saying that a steady income is not important, but instead saying that a steady income is not required in order to determine to invest into bitcoin.  The thing that is needed is discretionary funds, and discretionary funds can come from a variety of places, including from non steady income sources, or even prior building up of back up funds or even from the use of debt... and yeah, even though a steady income can make things easier, it is not required in order to be able to buy bitcoin.. .what is needed is discretionary funds.

You’re absolutely right, I’ve always known that we don’t necessarily need a steady income to invest and keep accumulating bitcoin on a daily or weekly or monthly basis, because what we actually need and requires is a discretionary income which is quite able to sustain our investments as well, I know some guys who have been investing in bitcoin for quite a long time now and have been sustaining their investments, they actually don’t have a stable income like most people think, we only do require a discretionary income which is possible to come from different sources which might necessarily not be from a stable income.

Some people might not understand why DCA don't totally depend on steady income alone to keep going, they might misunderstand and think that it means steady income is being discredited. Steady income is no doubt important for income earners so that they can make budget for discretionary funds from where they take money to buy Bitcoin. But you need to wonder about people that are not on steady income and how they are able to do DCA method of accumulation? The important thing is that whether you're on steady income or your earning or making profits once in a while you're able to fund your discretionary purse.

Perhaps you're a contractor that makes money when you finish executing a project, you'd make profit or get payment and from their you allocate some percentage into your discretionary funds. You can be a worker that is paid salary every week or month which is steady income, from their you allocate money into your discretionary funds. So whether you get money on a particular day of the month or you get money from your business when you make profit the important thing is to put money into your discretionary fund to buy Bitcoin.

[Jaksonhard]

I doubt anyone is saying that a steady income is not important, but instead saying that a steady income is not required in order to determine to invest into bitcoin.  The thing that is needed is discretionary funds, and discretionary funds can come from a variety of places, including from non steady income sources, or even prior building up of back up funds or even from the use of debt... and yeah, even though a steady income can make things easier, it is not required in order to be able to buy bitcoin.. .what is needed is discretionary funds.

Well, for a prudent fund it is better to have a source of income, because when you only think about your maximum expenses from your monthly income and deposit some money from it in your emergency fund. When you can save a good amount of money in your emergency fund then you can start investing your bitcoin. But I don't think you need a stable income to invest in bitcoin. Yes if you are aware of the risk then you can invest with some amount from your monthly income, let's say if your monthly income is $500 then you can deposit $200 in your emergency fund and with the remaining $200 you can save bitcoin which will be used to save bitcoin along with depositing money in your emergency fund. You can spend the remaining $100 for your maximum and family expenses.

[Lolipo]

What's the best time to actually buy the DIP and HODL, it's still confusing, this Bitcoin investment is a long time investment and any mistake from the beginning can cause wahala.

[yixichloro2xx]

I doubt anyone is saying that a steady income is not important, but instead saying that a steady income is not required in order to determine to invest into bitcoin.  The thing that is needed is discretionary funds, and discretionary funds can come from a variety of places, including from non steady income sources, or even prior building up of back up funds or even from the use of debt... and yeah, even though a steady income can make things easier, it is not required in order to be able to buy bitcoin.. .what is needed is discretionary funds.

You’re absolutely right, I’ve always known that we don’t necessarily need a steady income to invest and keep accumulating bitcoin on a daily or weekly or monthly basis, because what we actually need and requires is a discretionary income which is quite able to sustain our investments as well, I know some guys who have been investing in bitcoin for quite a long time now and have been sustaining their investments, they actually don’t have a stable income like most people think, we only do require a discretionary income which is possible to come from different sources which might necessarily not be from a stable income.

Some people might not understand why DCA don't totally depend on steady income alone to keep going, they might misunderstand and think that it means steady income is being discredited. Steady income is no doubt important for income earners so that they can make budget for discretionary funds from where they take money to buy Bitcoin. But you need to wonder about people that are not on steady income and how they are able to do DCA method of accumulation? The important thing is that whether you're on steady income or your earning or making profits once in a while you're able to fund your discretionary purse.

Perhaps you're a contractor that makes money when you finish executing a project, you'd make profit or get payment and from their you allocate some percentage into your discretionary funds. You can be a worker that is paid salary every week or month which is steady income, from their you allocate money into your discretionary funds. So whether you get money on a particular day of the month or you get money from your business when you make profit the important thing is to put money into your discretionary fund to buy Bitcoin.

Many people assume DCA is only for those with a fixed monthly paycheck. It’s not, DCA is about consistency, not the type of income you earn....If you get a steady salary, you can plan your allocation in advance and stick to it. If your income is irregular  like a contractor, freelancer, or small business owner,  you simply work with percentages. Every time money comes in, you carve out a set portion for your Bitcoin fund before anything else.

The timing and amount might vary, but the principle stays the same, that is  keep topping up your discretionary allocation whenever you have inflow. Whether it is from a salary, a one iff project payment, or a business profit, the habit of setting something aside is what makes DCA work over the long term.

What's the best time to actually buy the DIP and HODL, it's still confusing, this Bitcoin investment is a long time investment and any mistake from the beginning can cause wahala.

Trying to catch the exact bottom is where most people mess up, it is only clear in hindsight. A better approach is to define your own buy zones ahead of time based on your budget and risk tolerance. That way, you are not chasing emotions when the market moves. ..If Bitcoin drops 10%, 20%, or 30% from your last buy, you already know what to do because you planned for it. The key is consistency and building your position over time instead of going all in on one  perfect entry....Also, remember that , long term holders don’t obsess over catching the perfect price. They focus on stacking enough solid buys over time to build a strong average position and  with that way  you cut out the confusion and avoid unnecessary panics...

[Sim_card]

What's the best time to actually buy the DIP and HODL, it's still confusing, this Bitcoin investment is a long time investment and any mistake from the beginning can cause wahala.

There is no best time to buy bitcoin and timing the market to buy at the dip is not a good strategy for a long term investor to use in accumulating bitcoin overtime. Bitcoin is volatile in nature making the price unpredictable and that's why nobody can time the market and know the excat time to buy bitcoin at the dip.

It's better that a new investor should buy bitcoin right away provided that he has his discretionary income and not upgrade from the no coiner zone to a lower coiner. It is better that he should keep his bitcoin investment ongoing, regularly, consistent and persistent through weekly DCA buying for 4-10 years and above with part of with his discretionary income that wouldn't put pressure on him. You will see that gradually your bitcoin portfolio is increasing overtime and in ten years time, you will be surprised at the size of your bitcoin portfolio.

If you are waiting for the dip before you buy bitcoin, you will be waiting in the ball park lost with no direction and missing many opportunities in the market that you are supposed to have used to build up your bitcoin portfolio to a certain level. The dip comes like a thief in the night and by then you might have used the money planned for bitcoin to do something else because you have been waiting and the dip isn't coming. DCA strategy gives you a better opportunity to buy at the bottom line of the dip that those waiting for the dip might miss.

It's better that you focus your bitcoin investment mindset towards the quantity of bitcoin that you want to accumulate at any given price rather than to focus more on buying bitcoin at a cheaper price because in the long run, you will end up with few quantity of bitcoin that you bought cheaper and it's the size of your bitcoin portfolio that will determine your profits in future.

[Odohu]

What's the best time to actually buy the DIP and HODL, it's still confusing, this Bitcoin investment is a long time investment and any mistake from the beginning can cause wahala.

The best time to buy Bitcoin is when you first heard about it, just like now that you have known Bitcoin and have seen so many people buying enthusiastically, follow them and do what they are doing and in the future, you will follow them to celebrate. Buying and HODL is not complicated, don't let it confuse you even though I know it is a little tricky for a beginner like you. There is a general approach which you will follow to make it systematic and easy to implement. If you have some money or lets say you are into business or working, simply remove the money you will use for food and other basic things from your income after that you will be left with your discretionary income. From that money, use part of it to invest in Bitcoin and use the other part to set aside as your emergency funds which is money you will use incase you have urgent needs that you did not plan for in your basic needs. You can repeat this process monthly and you will be performing what is called DCA method and you will end up buying Bitcoin at no pressures.

After you have started purchasing your Bitcoin, please don't look to sell when you begin to see profits, your plan should be to accumulate Bitcoin and HODL for as long as 5 to 10 years before you can appraise your Bitcoin worth and then congratulate yourself for job well done. You can even increase the years of holding and then make Bitcoin your retirement plan, just like what I'm doing with my Bitcoin too.

[SOKO-DEKE]

What's the best time to actually buy the DIP and HODL, it's still confusing, this Bitcoin investment is a long time investment and any mistake from the beginning can cause wahala.

The truth is that no best time to start buying bitcoin,best time is when you have your discretionary funds.as far your have your discretionary imcome you can start investing in bitcoin.thinking and wauting for dip is just waste of time and opportunity and by the way it is very possible even that dip your are waiting for you may not see it,bitcoin is unpredicatble.but you can make uses of dca method this will help you getting bitcoin at different level and you set your buying either monthly or weekly.

[Wind_FURY]

 Definitely there are always factors to consider when starting out investment, most importantly having the financial capacity of having a discretionary income, so when we consider our situation in life could be more of financial availability and being able to afford our expenses and paying our bills which are primary and essential needs as well, I really don’t think that we should consider our age when we want to start investing in Bitcoin, life is always full of uncertainty, considering that we’ve a discretionary income and we can continue to accumulate Bitcoin on a regular basis, marriage and all that are just all a bonus and also will still have to deal with our financial situation and expenses.

It could be an issue. To give you some context, if a person is 70 years old and he/she has enough money to enjoy the few years he/she has left, I believe investing in Bitcoin should be the LAST goal he/she should plan for himself/herself.

Compare that to a young individual in his/her 20s who has been saving MOST of his/her salary. If that individual is given an opportunity to invest in the lowest DIPs of a bear cycle, then he/she SHOULD use ALL of his/her savings.

I think you are right about what you said here concerning age, it plays an important role on how a Bitcoin investment should approach his investment, just as you have said already, you can't expect a 70year old Bitcoin investor still planning on holding for more than 10 years because he knows that he has a limited time, unlike those that are in their 20's.
But those in their 20's don't have to buy only the dip, they just have to buy anytime their discretionary income is available, but if their is a dip in the market they might seize the opportunity and buy aggressively if they have their reserves funds to do so, because they have quite a lot of time to reap from their investment when bitcoin has risen up to a million dollar or more.

The earlier the better since it will bare more good result if they invest at earliest age.

But that depends on what age they know Bitcoin since not everyone is lucky to know this coin so early.

Still they can do good decision by investing on Bitcoin right away then do HODL with it. Somehow they can decide to do 5,10 years or maybe longer than that especially if they are young.

If they are at 70's still they can buy Bitcoin and for inheritance purposes. Nothing stop people to do it since it can give good fortune to their recipients. This is how cool Bitcoin is since its flexible and we can use it on whatever purpose we are aiming for investing on this coin.

In general, whether it's starting a business or starting an investment portfolio - the earlie  is ALWAYS better, and it's not my mere opinion. It's a FACT.

Plus it's not only because of the possibility of gaining more profit. It's also because starting early also makes you LEARN early, or make mistakes early so you could learn from them. Making a massive investment error in your 50s is more dangerous for your financial health than if you made it in your 20s.

[Ruttoshi]

When you can save a good amount of money in your emergency fund then you can start investing your bitcoin

You don't need to set up an emergency funds first before you should start your bitcoin investment. It's better to start your bitcoin investment first with your discretionary income by sharing it into two parts and use one part for your weekly DCA and the other part to set up your emergency funds and build both of the simultaneously. Your emergency funds should reach at least three months of your income.

 If you are waiting to build your emergency funds first, you are wasting a lot of time in vain piling up fiat that will depreciate in value overtime and what are you backing up when you don't have any bitcoin investment. The more you wait, the more opportunity that you will miss and bitcoin price will keep on increasing.

But I don't think you need a stable income to invest in bitcoin.

You only need your discretionary income to invest in bitcoin and not a stable income, because some people have a stable income but they don't have discretionary income.

let's say if your monthly income is $500 then you can deposit $200 in your emergency fund and with the remaining $200 you can save bitcoin which will be used to save bitcoin along with depositing money in your emergency fund. You can spend the remaining $100 for your maximum and family expenses.

You need to calculate the money for your basic needs and monthly expenses first and talke it out from the $500 and whatever is left is your discretionary income and that's what you can use to invest in bitcoin and build your emergency fund. Don't invest first without making proper calculations so that, you don't use more than your discretionary income to invest because you will end up selling the bitcoin that you bought which shouldn't be.

[Moreno233]

The earlier the better since it will bare more good result if they invest at earliest age.

But that depends on what age they know Bitcoin since not everyone is lucky to know this coin so early.

Still they can do good decision by investing on Bitcoin right away then do HODL with it. Somehow they can decide to do 5,10 years or maybe longer than that especially if they are young.

If they are at 70's still they can buy Bitcoin and for inheritance purposes. Nothing stop people to do it since it can give good fortune to their recipients. This is how cool Bitcoin is since its flexible and we can use it on whatever purpose we are aiming for investing on this coin.

In general, whether it's starting a business or starting an investment portfolio - the earlie  is ALWAYS better, and it's not my mere opinion. It's a FACT.

Plus it's not only because of the possibility of gaining more profit. It's also because starting early also makes you LEARN early, or make mistakes early so you could learn from them. Making a massive investment error in your 50s is more dangerous for your financial health than if you made it in your 20s.

You are right about this and this is one way I console myself for some of the mistakes I made in my Bitcoin journey. I never had the right information such as investing in Bitcoin mainly and followed in searching for the next Bitcoin when I started, invested in a couple of shitcoins and lost heavily in the process, an experience I look back to and still regret till date. Like you said, it is better to make mistakes early and learn from it early, and that is my case although I learnt at a huge cost.

My joy is that I'm doing the right thing now, investing mainly in Bitcoin and holding with no intention of selling even in this market cycle and the next. I have not reach my accumulation goal so I'm still aggressively investing my discretionary income until I meet the target I set for myself in terms of Bitcoin quantity.

[MainIbem]

What's the best time to actually buy the DIP and HODL, it's still confusing, this Bitcoin investment is a long time investment and any mistake from the beginning can cause wahala.

It's not something that's very though to understand and embark on, many have been doing it for the past years, if they can then you can too. So far you have your discretionary fund intact then you're good to go, also you don't have to buy only during the dip don't be confused by that statement, so far you're using the DCA strategy for accumulation you can buy at anytime whether during the dip and when the market is rising,  that strategy (DCA) would keep a balance to your level of accumulation and you don't have to focus only the dips when accumulating, it's good that you've already acknowledged that Bitcoin is a long-term investment that alone would encourage you to hold it for long and you'll also be cautious of ruining your portfolio based on your statement.

[JayJuanGee]

Definitely there are always factors to consider when starting out investment, most importantly having the financial capacity of having a discretionary income, so when we consider our situation in life could be more of financial availability and being able to afford our expenses and paying our bills which are primary and essential needs as well, I really don’t think that we should consider our age when we want to start investing in Bitcoin, life is always full of uncertainty, considering that we’ve a discretionary income and we can continue to accumulate Bitcoin on a regular basis, marriage and all that are just all a bonus and also will still have to deal with our financial situation and expenses.

It could be an issue. To give you some context, if a person is 70 years old and he/she has enough money to enjoy the few years he/she has left, I believe investing in Bitcoin should be the LAST goal he/she should plan for himself/herself.

Compare that to a young individual in his/her 20s who has been saving MOST of his/her salary. If that individual is given an opportunity to invest in the lowest DIPs of a bear cycle, then he/she SHOULD use ALL of his/her savings.

Of course, age and health should be factored in, and a person who might only have less than 4 years to invest into bitcoin based on health and/or age considerations, then he would be trading rather than investing.. yet even a person who is 70 might not know for sure if he is going to start to need his bitcoin in less than 4 years, so he can adjust his position size in accordance with his timeline considerations in terms of when he might start to need the cash.  The answers are not obvious, since we may well imagine that a person who is around 70 may well have other investments in which he may or may not have started to draw upon and he may also have some fixed income sources to the extent that he might either not be working or not be working as much as he had previously.  He also may well be willing to consider moving some or all of his other investments into bitcoin, which I personally believe he is better off to have a 4-year timeline in regards to any of the parts of his other investments that he chooses to reallocate into bitcoin.

A person who is in his 20s has a long timeline, so I doubt that he needs to be taking outrageous actions in regards to his bitcoin investment.  Some folks in their 20s are still building their skills and investing in education, and others may well already have entered into their work where they are building their income sources, and perhaps getting promotions require investing time, energy and sometimes even value into certain areas so that the promotions might come that allow for greater income.. and surely the greater the income, the more discretionary income will be earned that allows for more investing into bitcoin. 

There is no real evidence to argue that a person in their 20s needs to be fucking around trying to figure out dips rather than than just ongoingly investing into bitcoin with whatever level of discretionary income that he deems to be prudent given his total personal circumstances, whether that is $100 per week or $10 per week or some other amount that he deems to be a good amount to regularly put into bitcoin, rather than fucking around trying to figure out whether there are dips or not.  I would expect that someone in his 20s may well have a 20-40 year investment timeline so he can play the time to his advantage, and sure at the same time, if he is able to start to live off of his bitcoin earlier, then there would be no problem with his expecting even a 30-40 year time horizon, yet the fortune of his bitcoin investment ends up cutting his actual timeline in half, such as his reaching some kind of a fuck you status in 15-20 years based on how well bitcoin ended up performing and he did not fuck it up by trying to play around with dips that might not end up happening.

Many of us realize that bitcoin is such a great asymmetric bet to the upside, which means even modest investments into it would still have decently good chances for great payouts, which does not even justify going crazy in regards to how much to invest into bitcoin.  The guy in his 20s has the advantage of the decently long timeline, yet he still likely has a challenge in regards to his keeping on building his bitcoin through the years and not spending too much of it too soon, so then even if he is putting in small amounts, he will have greater chances for payouts later down the line and perhaps even reaching som variation of overaccumulation status in a timeline that could be much shorter than he would with traditional investments so that by the time he is in his 40s he might be in a position to start sustainable withdrawal practices.

In the end, sure the punchline is that age and/or timeline is likely going to be a factor, and the young person would likely expect to be able to continue to work and maybe even still somewhat focused on ensuring ways to increases his chances for greater income.  And, older guys might either be getting to points in which he is either working less or expecting to work less, and surely a guy in his 70s might already be living off of fixed income and no longer ready, willing and/or able to work for income.

I doubt anyone is saying that a steady income is not important, but instead saying that a steady income is not required in order to determine to invest into bitcoin.  The thing that is needed is discretionary funds, and discretionary funds can come from a variety of places, including from non steady income sources, or even prior building up of back up funds or even from the use of debt... and yeah, even though a steady income can make things easier, it is not required in order to be able to buy bitcoin.. .what is needed is discretionary funds.

Many people believe that you can only set up a discretionary fund if you have a steady source of income, however stable income is not necessary before investing in Bitcoin.  The main thing is to have some extra cash that you don't need to cover your other needs, this money can come from everywhere like side jobs, savings, or even some money you've saved for a long time, and there's no need to do this with your monthly salary.

Of course, if you have a steady income makes it easier to continue investing and building your Bitcoin over time with a rest of mind, but it is not necessary if you understand how Bitcoin works. And as long as you have spare money and you can afford to lose it without affecting your other expenses, you can invest in Bitcoin. What matters is that you use funds that you are willing to risks rather than relying on your monthly salary.

If you are investing into bitcoin rather than trading, then you should realize that any of the money that you use to buy bitcoin is getting locked away for 4-10 years or longer, so you don't need the money.

We invest with an expectation that in the future our investment will pay off and that we have chances to be better off for investing rather than if we had not, even though at the same time, we should recognize and appreciate that our investment might not pay off and could go to zero. We should weigh our considerations in determining our position size, and yeah, if our income is not certain or steady, then we may well have to be more cautious in regards to how much we are able to invest and how steady we can invest into bitcoin, so there surely are advantages to having a steady income or figuring out ways to make our income more steady, even though we don't have to have a steady income for each time that we are considering to buy bitcoin and considering how much, then we are likely considering how much money we have that we are ready, willing and/or able to lock up for 4-10 years or more.

[edited out]

I think you are right about what you said here concerning age, it plays an important role on how a Bitcoin investment should approach his investment, just as you have said already, you can't expect a 70year old Bitcoin investor still planning on holding for more than 10 years because he knows that he has a limited time, unlike those that are in their 20's.
But those in their 20's don't have to buy only the dip, they just have to buy anytime their discretionary income is available, but if their is a dip in the market they might seize the opportunity and buy aggressively if they have their reserves funds to do so, because they have quite a lot of time to reap from their investment when bitcoin has risen up to a million dollar or more.

There is no justification for someone in their 20s to be playing around trying to time BTC price dips rather than just regularly buying bitcoin. 

Sure in the end, guys can do whatever they like, even dumb shit of trying to time BTC prices and then end up with way less bitcoin than what they would have had if they had just stayed focused on ongoing, persistent, consistent, regular and perhaps even aggressive accumulation.

So many people get wrecked because they did not build that safety net first… It is like trying to swim without a life jacket, eventually, the waves get too rough. Having an emergency fund isn’t about being weak or scared, it is about protecting your future self and your long term goals. When you have that buffer,

Your comment seems to suggest that we need to build an emergency fund before we start investing. Waiting to build an emergency fund before starting investing is not the right decision.
As you said, it is like trying to swim without a life jacket, basically we put on a life jacket before we get into the water. But if we use this in the case of investing, it will not be right at all. If we wait to build an emergency fund before investing,

What you are suggesting is actually what seems to be swimming without a lifejacket because when you thought that you can confidently swim without getting tired you neglect the help of a lifejacket and if eventually you began swimming and the unforseen happened that you get tired you began recall back how you could have prevented it if there was a lifejacket so actually in Bitcoin the lifejacket is the emergency funds because they are your rescue at every given moment of challenges so actually building before investing is also a smart way because you shouldn't think that as a starter there is nothing to disrupt you. What if you start without emergency fund how would you manage everything?, will you run to your investment at every call?. Someone with an emergency fund is confident than someone without it because the person with the emergency funds has a place of shelter while you do not have.

It is not good to get overly focused on building your emergency fund rather than investing in bitcoin.

Surely a person who starts out with a lot of resources will be advantaged over someone who does not have many resources.

So maybe a person with an income that varies between $400 and $1,200 per month with expenses that are around $600 per month might already have had been keeping around 2-6 weeks of his expenses as a kind of cash cushion, so then when he starts to consider bitcoin, he already has $600 in cash and maybe if he gets paid $1,100 then he knows that he has $500 for his discretionary income for that month.  He does not necessarily need to put more into his cash cushion and he could use most if not all $500 to buy bitcoin, if he wanted to...

Sure, at some point in the future he wants to make sure that his emergency fund is $1,800, yet as he is building his bitcoin investment, it may take a bit of time for him to get his emergency fund up to $1,800, and each person can figure out those kinds of balances, since there are risks that he might end up having to tap into his bitcoin at a time that is not of his own choosing, but he is also barely getting started with his bitcoin investment too, and perhaps deciding to start out with some attempts to front load his bitcoin investment, yet the guy still is not in a great income situation since his income is seeming to be so erratic, so he may well need to work on improving his income situation, and many people also tend to have room to work on cutting down their expenses too.. 

I have no problem with the idea of growing the emergency funds and the bitcoin investment amount at the same rate until they each reach 3 months, yet there is also some personal choices involved in terms of how guys choose to prioritize how they are allocating their monthly income... in order for them to feel that they are in balance and even their wanting to ensure that they are adequately investing int bitcoin and also that they are adequately protecting themselves from either their cashflow variations or short falls that might end up coming up... so presumptively  the longer that they are in bitcoin the more wealth they are building up in both bitcoin and in terms of likelihood to be able to have a cash cushion and to be comfortable and disciplined enough to be able to maintain whatever cash cushion they have come accustomed to have had built up. 

[sotelorene]

 Definitely there are always factors to consider when starting out investment, most importantly having the financial capacity of having a discretionary income, so when we consider our situation in life could be more of financial availability and being able to afford our expenses and paying our bills which are primary and essential needs as well, I really don’t think that we should consider our age when we want to start investing in Bitcoin, life is always full of uncertainty, considering that we’ve a discretionary income and we can continue to accumulate Bitcoin on a regular basis, marriage and all that are just all a bonus and also will still have to deal with our financial situation and expenses.

It could be an issue. To give you some context, if a person is 70 years old and he/she has enough money to enjoy the few years he/she has left, I believe investing in Bitcoin should be the LAST goal he/she should plan for himself/herself.

Compare that to a young individual in his/her 20s who has been saving MOST of his/her salary. If that individual is given an opportunity to invest in the lowest DIPs of a bear cycle, then he/she SHOULD use ALL of his/her savings.

I think you are right about what you said here concerning age, it plays an important role on how a Bitcoin investment should approach his investment, just as you have said already, you can't expect a 70year old Bitcoin investor still planning on holding for more than 10 years because he knows that he has a limited time, unlike those that are in their 20's.
But those in their 20's don't have to buy only the dip, they just have to buy anytime their discretionary income is available, but if their is a dip in the market they might seize the opportunity and buy aggressively if they have their reserves funds to do so, because they have quite a lot of time to reap from their investment when bitcoin has risen up to a million dollar or more.

The earlier the better since it will bare more good result if they invest at earliest age.

But that depends on what age they know Bitcoin since not everyone is lucky to know this coin so early.

Still they can do good decision by investing on Bitcoin right away then do HODL with it. Somehow they can decide to do 5,10 years or maybe longer than that especially if they are young.

If they are at 70's still they can buy Bitcoin and for inheritance purposes. Nothing stop people to do it since it can give good fortune to their recipients. This is how cool Bitcoin is since its flexible and we can use it on whatever purpose we are aiming for investing on this coin.

In general, whether it's starting a business or starting an investment portfolio - the earlie  is ALWAYS better, and it's not my mere opinion. It's a FACT.

Plus it's not only because of the possibility of gaining more profit. It's also because starting early also makes you LEARN early, or make mistakes early so you could learn from them. Making a massive investment error in your 50s is more dangerous for your financial health than if you made it in your 20s.

Aside these I think starting early will give an investor more advantage over others that won't start the same time because the price of Bitcoin is not static but rather it is moving I mean it changes from time to time and so there are price someone who started earlier will invest on those who will start later may not be privilege or opportune to see those price and also starting early will help an investor who is serious get to their overaccumulation stage faster. There are many benefits of starting early and so anyone who is still waiting for a particular price or time, I will advise they start now if they have a discretionary because discretionary is the most important thing to kick start investment.

[blackberrman]

What's the best time to actually buy the DIP and HODL, it's still confusing, this Bitcoin investment is a long time investment and any mistake from the beginning can cause wahala.

It's not something that's very though to understand and embark on, many have been doing it for the past years, if they can then you can too. So far you have your discretionary fund intact then you're good to go, also you don't have to buy only during the dip don't be confused by that statement, so far you're using the DCA strategy for accumulation you can buy at anytime whether during the dip and when the market is rising,  that strategy (DCA) would keep a balance to your level of accumulation and you don't have to focus only the dips when accumulating, it's good that you've already acknowledged that Bitcoin is a long-term investment that alone would encourage you to hold it for long and you'll also be cautious of ruining your portfolio based on your statement.

The price of Bitcoin, which has become stronger every time it falls, if you are new to investing in Bitcoin or are very emotional and if you are preparing to invest in Bitcoin to make quick profits, then this is a wrong practice, give up the hope of getting rich quickly because it is not a race but you have to move forward slowly with patience and planning, you use the DCA strategy to move your investment forward and move your investment forward slowly, use the DCA strategy because it will prevent you from panicking and it does not matter to you whether the price of Bitcoin is low or high because you will continue to invest for a long time, on the one hand, if the price of Bitcoin decreases, you can buy it, on the other hand, if it increases, you can buy it because Bitcoin is currently cheaper than the future, Bitcoin has a limited supply, its demand will increase and as a result of this increase in demand, the price of Bitcoin will increase significantly, the future of Bitcoin is bright.

[I_Anime]

There is no justification for someone in their 20s to be playing around trying to time BTC price dips rather than just regularly buying bitcoin.

Sure in the end, guys can do whatever they like, even dumb shit of trying to time BTC prices and then end up with way less bitcoin than what they would have had if they had just stayed focused on ongoing, persistent, consistent, regular and perhaps even aggressive accumulation.

Most time some folk will be trying to play it smart not knowing that they are just making some dumb decisions. This just the truth you can’t actually time the market and you trying to time it , you are just wasting your time and delaying your accumulation process putting some irrelevant gap .

Yes bitcoin can be volatile sometimes but still doesn’t mean we can literally time the market that’s why dca strategy is here for us to make use of ,as we can’t actually time the market rather keep purchasing at different price interval.

[Joeboy]

I think you are right about what you said here concerning age, it plays an important role on how a Bitcoin investment should approach his investment, just as you have said already, you can't expect a 70year old Bitcoin investor still planning on holding for more than 10 years because he knows that he has a limited time, unlike those that are in their 20's.
But those in their 20's don't have to buy only the dip, they just have to buy anytime their discretionary income is available, but if their is a dip in the market they might seize the opportunity and buy aggressively if they have their reserves funds to do so, because they have quite a lot of time to reap from their investment when bitcoin has risen up to a million dollar or more.

No matter the age, it's still very wise to invest in Bitcoin regularly when you can and use market dips as a chance to buy more if you have extra funds set aside cos nobody knows how long they have. Someone in their 20's might not necessarily live longer than someone in their 70's. What really matters is the goal the person aims to achieve, his/her financial situation, and how much risk they are willing to take