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Author Topic: Buy Bitcoin, and HODL!  (Read 87305 times)
Popkon6
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May 22, 2024, 08:23:45 AM
 #8601

You talked about aggressiveness and do you know the connection, being aggressive in terms of investment may be good because we have the enthusiasm to carry out but how controlling ability is important. If you do not have the ability to control then investment can be done slowly. Have you ever heard how people lose money in investments and it is influenced by individual mistakes, not because of Bitcoin, so when we want to invest, we need to pay attention to how to control it.

It's up to you whether you want to use the DCA pattern or so on, but it must also be able to be carried out according to your ability to control it. Investing in Bitcoin does have the opportunity to achieve success, but capital and strategy are important. Make purchases using a much more responsible method and store bitcoin until it reaches the selling value we want, from there we will see how bitcoin can provide freedom for investment.

One can be as aggressive they can ,but without over doing it, just as  sir JJG usually Said. Because most folks usually make alot of mistakes when it comes to being aggressive, mistakes like using their emergency funds to increase their rate of Accummulation without having any backup plan . Which may lead them tampering with their investment, for instance $500 is someone monthly salary and he or she decided to go all in with it without having any reserve funds he or she can take as backup funds , they may endup withdrawing their investment too early and the painful part is that they won't just withdraw the $500 back they may even endup withdrawing everything from their wallet . That's why is better to keep accumulating with any amount you know you can use at that moment, the main thing is that yah being consistent with your accumulation.
Any investor who is using his whole salary to aggressively buy bitcoin to increase his bitcoin investment and also buy at a low price is not disciplined with his bitcoin accumulation plan; he or she has allowed buying the dip to decide the amount of money to be used in accumulating bitcoin at the time of the dip. You are right; since bitcoin is not a quick-to-get-rich thing, the investor will not stay for up to a month, and he or she will tamper with his bitcoin investment to survive because he or she messed up his accumulation plan by using his whole money to aggressively accumulate bitcoin. Since the investor has tempered his bitcoin investment, he or she will wake up one day and decide to sell all his bitcoin investment because of the mistake he or she made when buying the dip. We should not be very concerned about buying the dip so that we will not make mistakes that could lead to selling our bitcoin investment when it has matured.

We need to invest bitcoins but invest in such a way that we don't have to sell our holdings if we face danger later. That's why we have to divide it into three parts. Having an emergency fund is the most important, so that we don't have to sell our investments in times of danger. And nothing should be done aggressively, the more aggressive the more likely to go wrong. But we must plan and take all steps to survive our investment for long time.

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Smilevictorobinna
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May 22, 2024, 10:07:34 AM
 #8602

You talked about aggressiveness and do you know the connection, being aggressive in terms of investment may be good because we have the enthusiasm to carry out but how controlling ability is important. If you do not have the ability to control then investment can be done slowly. Have you ever heard how people lose money in investments and it is influenced by individual mistakes, not because of Bitcoin, so when we want to invest, we need to pay attention to how to control it.

It's up to you whether you want to use the DCA pattern or so on, but it must also be able to be carried out according to your ability to control it. Investing in Bitcoin does have the opportunity to achieve success, but capital and strategy are important. Make purchases using a much more responsible method and store bitcoin until it reaches the selling value we want, from there we will see how bitcoin can provide freedom for investment.

One can be as aggressive they can ,but without over doing it, just as  sir JJG usually Said. Because most folks usually make alot of mistakes when it comes to being aggressive, mistakes like using their emergency funds to increase their rate of Accummulation without having any backup plan . Which may lead them tampering with their investment, for instance $500 is someone monthly salary and he or she decided to go all in with it without having any reserve funds he or she can take as backup funds , they may endup withdrawing their investment too early and the painful part is that they won't just withdraw the $500 back they may even endup withdrawing everything from their wallet . That's why is better to keep accumulating with any amount you know you can use at that moment, the main thing is that yah being consistent with your accumulation.
Any investor who is using his whole salary to aggressively buy bitcoin to increase his bitcoin investment and also buy at a low price is not disciplined with his bitcoin accumulation plan; he or she has allowed buying the dip to decide the amount of money to be used in accumulating bitcoin at the time of the dip. You are right; since bitcoin is not a quick-to-get-rich thing, the investor will not stay for up to a month, and he or she will tamper with his bitcoin investment to survive because he or she messed up his accumulation plan by using his whole money to aggressively accumulate bitcoin. Since the investor has tempered his bitcoin investment, he or she will wake up one day and decide to sell all his bitcoin investment because of the mistake he or she made when buying the dip. We should not be very concerned about buying the dip so that we will not make mistakes that could lead to selling our bitcoin investment when it has matured.
Mayor of ogba I agree with you. One should not worry about the dip if your plan is to hodl since whatever price came up then its the best time for you to buy again. Other people think that they do a bad decision for not waiting for some few hour or days that's why they fail since this people got discourage for seeing that there's more dump happen and they lose a value for their bitcoins bought. They need to remember that if there plan is for long term then there's nothing to worry on those situation. Since they can accumulate more so they can increase their investment and hopefully in future the price pump they could earn a lot of money especially if bitcoin will hit another bull run season and we can see a great price achieved especially if the price would be able to reach six digits in figures.

And this position I started above has always been my style of buying. I don't worry about the dip since I'm going for long term, every entry within this stage is still perfect because I believe Bitcoin will be approaching $100k in the new future. I use the DCA method mostly but when I have extra cash, I do still consider buying the dips and when such times comes, I don't think twice about it because the price of Bitcoin is below $100k and I consider that a fair deal. Some people make buying the dip look so complicated because they want to enter at the perfect lowest point which is very difficult to determine. I don't subscribe to this idea of perfect entry because it can make one to refuse to buy only to see price already surged. Besides, most of the technical analysis method employed in determining the supposed perfect entry are marred with errors.
avp2306
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May 22, 2024, 10:54:14 AM
 #8603

You talked about aggressiveness and do you know the connection, being aggressive in terms of investment may be good because we have the enthusiasm to carry out but how controlling ability is important. If you do not have the ability to control then investment can be done slowly. Have you ever heard how people lose money in investments and it is influenced by individual mistakes, not because of Bitcoin, so when we want to invest, we need to pay attention to how to control it.

It's up to you whether you want to use the DCA pattern or so on, but it must also be able to be carried out according to your ability to control it. Investing in Bitcoin does have the opportunity to achieve success, but capital and strategy are important. Make purchases using a much more responsible method and store bitcoin until it reaches the selling value we want, from there we will see how bitcoin can provide freedom for investment.

One can be as aggressive they can ,but without over doing it, just as  sir JJG usually Said. Because most folks usually make alot of mistakes when it comes to being aggressive, mistakes like using their emergency funds to increase their rate of Accummulation without having any backup plan . Which may lead them tampering with their investment, for instance $500 is someone monthly salary and he or she decided to go all in with it without having any reserve funds he or she can take as backup funds , they may endup withdrawing their investment too early and the painful part is that they won't just withdraw the $500 back they may even endup withdrawing everything from their wallet . That's why is better to keep accumulating with any amount you know you can use at that moment, the main thing is that yah being consistent with your accumulation.
Any investor who is using his whole salary to aggressively buy bitcoin to increase his bitcoin investment and also buy at a low price is not disciplined with his bitcoin accumulation plan; he or she has allowed buying the dip to decide the amount of money to be used in accumulating bitcoin at the time of the dip. You are right; since bitcoin is not a quick-to-get-rich thing, the investor will not stay for up to a month, and he or she will tamper with his bitcoin investment to survive because he or she messed up his accumulation plan by using his whole money to aggressively accumulate bitcoin. Since the investor has tempered his bitcoin investment, he or she will wake up one day and decide to sell all his bitcoin investment because of the mistake he or she made when buying the dip. We should not be very concerned about buying the dip so that we will not make mistakes that could lead to selling our bitcoin investment when it has matured.

We need to invest bitcoins but invest in such a way that we don't have to sell our holdings if we face danger later. That's why we have to divide it into three parts. Having an emergency fund is the most important, so that we don't have to sell our investments in times of danger. And nothing should be done aggressively, the more aggressive the more likely to go wrong. But we must plan and take all steps to survive our investment for long time.


We are taking so much risk for investing all we have that's why its important for us to consider those important matter that needed to survive so that we will not really came to the point that we need to sell our holdings since there's an emergency situation happen to us. That's how the importance of setting up a emergency funds since this could help us survive on crucial times without even touching our funds used for investment.

Being so aggressive on our investment decision will put us on heavy situation that's the reason on why we need to think about those things that we are trying to do. Its not good for us to rush all our decision and risk everything we have. If they are confused about how to do good decision then they are already on right venue where everything related to bitcoin investment discussion is already here. For sure lots of people can learn a lot from statement given by experience people giving some of nice inputs about what are the possible best suggestions that a investor could ever do.

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Hanadawa
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May 22, 2024, 11:06:41 AM
 #8604

We don't need to get broke just to cope up with our investment and there's no need to rush on everything especially on our bitcoin investment since everything is in process that's why we should never invest all of our salary to our bitcoin investment since for sure we will really get a problem with that in long run since we might come up to an idea to get a loan since we can't take care of other thing that important to consider just to live a comfortable life.
Looking for a loan or spending your entire salary to invest in Bitcoin is something very wrong. It will lead you to financial failure and you can go bankrupt. Sometimes people are afraid of missing a bullish moment on Bitcoin. People think it's better to buy now before it's too late. In fact, if you check the history of Bitcoin and the graph, you can see that investing in Bitcoin is long term. People who buy Bitcoin at $40k at the end of 2023 feel Bitcoin is already expensive. And some people who bought bitcoin at $60k around March 2024 also think Bitcoin is already very high. A wise investor should avoid this. You can use the DCA method because Bitcoin prices still have the potential to increase.

Quote
To have a proper plan on this maybe we should have a pie chart where we can separate our earnings into other things that we are considering on where we spend our money since if we have proper discipline on money for sure we can make all of things work out and we will not get any financial trouble if we follow all the plans we set. For doing all those discipline for sure we will be responsible on everything especially on each decision making we do.
Keep making a good financial plan. Allocate all your money carefully. Create a priority scale for which ones should come first and which ones can be optional choices. Allocate exactly how much Bitcoin you can afford each month and commit to your allocation as best as possible.

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fadhilz123
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May 22, 2024, 11:18:34 AM
 #8605

We need to invest bitcoins but invest in such a way that we don't have to sell our holdings if we face danger later. That's why we have to divide it into three parts. Having an emergency fund is the most important, so that we don't have to sell our investments in times of danger. And nothing should be done aggressively, the more aggressive the more likely to go wrong. But we must plan and take all steps to survive our investment for long time.

How to allocate funds for each of these things will actually not be difficult enough for people who have income every month. For example, the funds we provide ourselves to buy Bitcoin while it is still at the Dip price with the aim of not wanting to sell it in the near future so that we ourselves can prepare this and not hold onto these funds except to buy Bitcoin at the Dip. Likewise with funds for other things in life so that the things we do such as investing in Bitcoin will never be disturbed even though in our life conditions we are facing bad things through the economy or whatever.

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Tmoonz
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May 22, 2024, 12:01:34 PM
Last edit: May 22, 2024, 05:41:32 PM by Tmoonz
Merited by JayJuanGee (1)
 #8606

We need to invest bitcoins but invest in such a way that we don't have to sell our holdings if we face danger later. That's why we have to divide it into three parts. Having an emergency fund is the most important, so that we don't have to sell our investments in times of danger. And nothing should be done aggressively, the more aggressive the more likely to go wrong. But we must plan and take all steps to survive our investment for long time.

Let us always make the difference between being aggressive and being overly aggressive in terms of our investment journey, there is nothing wrong being aggressive towards your investment without over doing it such that it will affect your personal living expenses, being aggressive has a lot to do with, how consistence you are comfortably implementing both routine and non routine strategies in oder to maximize the opportunity of stashing up more Bitcoin in to your bag without having a negative effect on our personal life expenses, it is when you over do it without considering much of your other personal needs that it will becomes problematic towards your investment. However, in as much as one being aggressive in his or her investment there must be a balance up in terms satisfying personal needs which will determine your discretional or disposable income and the extend or level of aggressiveness in order to have a successful investment, it all boils down to proper planning and making a adjustments where and when necessary.

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May 22, 2024, 01:33:28 PM
 #8607

We need to invest bitcoins but invest in such a way that we don't have to sell our holdings if we face danger later. That's why we have to divide it into three parts. Having an emergency fund is the most important, so that we don't have to sell our investments in times of danger. And nothing should be done aggressively, the more aggressive the more likely to go wrong. But we must plan and take all steps to survive our investment for long time

Yeah that's true, we need to engage with long-term investment when it comes to Bitcoin,  because we all believe that Bitcoin is going to keep growing as time goes on , tho there's no guarantees and all that . Like recently we can see that Bitcoin hit the price range of $70k that's a good sign that the bull run is close. Bitcoin just gathering strength so that it can be able to surge massively, so selling your investment now due to the recent movement in price (increase) , won't be smart at all , because soon Bitcoin won't be around 5 digit, rather 6 digit and I at that time alot of folks that sold their holdings very early , are going to endup saying had I known.

We need to invest bitcoins but invest in such a way that we don't have to sell our holdings if we face danger later. That's why we have to divide it into three parts. Having an emergency fund is the most important, so that we don't have to sell our investments in times of danger. And nothing should be done aggressively, the more aggressive the more likely to go wrong. But we must plan and take all steps to survive our investment for long time.

How to allocate funds for each of these things will actually not be difficult enough for people who have income every month. For example, the funds we provide ourselves to buy Bitcoin while it is still at the Dip price with the aim of not wanting to sell it in the near future so that we ourselves can prepare this and not hold onto these funds except to buy Bitcoin at the Dip. Likewise with funds for other things in life so that the things we do such as investing in Bitcoin will never be disturbed even though in our life conditions we are facing bad things through the economy or whatever.

Well according to the lil knowledge have gathered concerning holding Bitcoin, when it comes to buying the dip is always advisable for one to set aside some reserve funds to purchase the dip if any occurs. Because we can't actually tell when or howfar the dip may go and all that . But having a reserve funds as already given one some advantage when it comes to the dip . So one don't have to wait for any dip before thinking of purchasing bitcoin, instead they can continue with their accummulation and purchase the dip when any occurs with their reserve funds while accumulating.

Wind_FURY (OP)
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May 22, 2024, 02:31:50 PM
 #8608

Bitcoin Exchange Traded Products have gotten approval to trade on the London Stock Exchange. All the small DIPs that make investors feel anxious because "crabby market", are actually small opportunities to accumulate more Bitcoins. Wait for DIPs or DCA, the investment decisions that you do today will establish your portfolio during the next bullish surge. Bitcoin may not have the best performance cycle per cycle, but it's definitely one of the handful of blockchains that will continue chugging along decade per decade.

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rachael9385
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May 22, 2024, 02:35:45 PM
Merited by GeorgeJohn (4)
 #8609

We are taking so much risk for investing all we have that's why its important for us to consider those important matter that needed to survive so that we will not really came to the point that we need to sell our holdings since there's an emergency situation happen to us. That's how the importance of setting up a emergency funds since this could help us survive on crucial times without even touching our funds used for investment.

Being so aggressive on our investment decision will put us on heavy situation that's the reason on why we need to think about those things that we are trying to do. Its not good for us to rush all our decision and risk everything we have. If they are confused about how to do good decision then they are already on right venue where everything related to bitcoin investment discussion is already here. For sure lots of people can learn a lot from statement given by experience people giving some of nice inputs about what are the possible best suggestions that a investor could ever do.
It is very important to make sure we have a good amount of money for emergencies before going into Bitcoin investment (especially when you are planning for the long term). With that, we can successfully invest in Bitcoin without selling any part of it just because we want to solve some kind of emergency issues. On Bitcoin investment there are some challenges an investor faces. The things there are, when you are not properly prepared for the long term investment, you can't afford to continue investing because you are not yet ready, and what makes you ready for investment is how much you are paid as salary and how much you already kept for emergency cases. Even if you are already investing before knowing this, you might not end well because there are things you failed to do/understand, and those things are:

*Making sure you have a good amount separately for emergency cases

*Knowing the best method you can use for your investment plans.

*Having good knowledge about the kind of investment you are in so that you will be able to strategize the kind of methods you can use for the investment.

I believe with these 3 points one can successfully know what and what's needed before investing in Bitcoin.



Well, it's quite funny how many people rush to invest in Bitcoin because they believe that we are in bull season, so they are expecting to accumulate Bitcoin before then. We all know fully well that it doesn't work that way, investment is a due process thing, and you will need to get knowledge from knowledgeable people or do your own research into it before you start investing. We don't have to rush into Bitcoin because we want to make profits so quickly. Besides, one can not accumulate 1 Bitcoin if one's getting just $300 a month (that's impossible), so as Bitcoin investment is an asset, it's good to maintain the due process instead of rushing to invest, then you still end up making mistakes that are unforgettable.

R


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May 22, 2024, 03:19:16 PM
Merited by JayJuanGee (1)
 #8610

There are times when acting aggressively when prices fall by 10% or when we get additional income.
On the one hand, cash flow must be stable without becoming a burden when we make aggressive purchases.

The thing is that in as much as someone or rather an investor is rich doesn't mean that they cannot run into trouble if they are investing aggressively, however even if the price drops 10% is not actually a good reason to accumulate aggressively but instead you can possibly adjust your DCA accumulation were by if you normally accumulate a certain amount of Bitcoin on a weekly basis and it happen that your source of income has increased you could possibly increase your accumulation amounts that will be well suitable for you.

Though I no that most investors have there way or perspective they feel they can take advantage or facilitate there investment on Bitcoin but it will be very bad that they will get overwhelmed and invest all they have without realizing that in as much as long term holding doesn't really involved risk but aggressive investment could be regarded as one of the risk or barrier that could have a negative effect on there investment plan.

I Don't agree with your concept of aggressiveness, I don't think aggressiveness refers to investing into bitcoin with all you have or like some crazy investor that is throwing all his cash or savings into bitcoin, IMO it's more like investing not more than you should and at same time not less than you should, i can't really put the definition in words since I myself am still trying to grable thigns well.

Let's assume I have a toral of 200$ left as my disposable income after doing all my cashflow and deducted or removed my expenses, and I decide to invest 150$ of that into bitcoin that can be me beign aggressive or let's assume another person earning up to 4000$ and after removing his expenses as a bachelor has a 2000$ left as his discretionary income, normally we should keep in mind that we have to invest from here, kero float and also keep some reserves for later, he can decide to invest a whole 1k or 1200$ into bitcoin and keep halve as floats and the rest as reserves and if he ends up not using his floats or all then he can decide what to do with the rest.

I can't really find a way to explain my understanding of aggressiveness with words, but I think if investing in bitcoin is a priority or something that you desire to or want to achieve then that way you would want to give a sizable percentage of your disposable income to it or even all, that is my best way to explain what I understand by being aggressive and if aggressiveness is practiced rightly then you have no worri about it beign risk, they is a balance and that is finding what you are comfortable with.

 Aggressiveness in investing bitcoin doesn't necessarily mean going all in or being reckless with your funds. Investing in Bitcoin should be a thoughtful process, where you consider the amount you can comfortably invest without jeopardizing your financial stability. It's about finding the right balance between investing an amount that aligns with your goals and keeping a portion as reserves or for other expenses.

example if you have $200 left as disposable income after covering your expenses, investing $150 in Bitcoin can be seen as an aggressive approach because it's a significant portion of your available funds. Similarly, for someone with a discretionary income of $2000, investing $1000 or $1200 in Bitcoin while keeping the rest as floats and reserves shows a measured and thoughtful approach.

It's all about prioritizing your investments and putting a significant portion of your disposable income into Bitcoin if it's something you're really passionate about and want to achieve. Being aggressive in this context means being bold and committed to your investment goals
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May 22, 2024, 04:08:41 PM
Merited by JayJuanGee (1)
 #8611

Bitcoin Exchange Traded Products have gotten approval to trade on the London Stock Exchange. All the small DIPs that make investors feel anxious because "crabby market", are actually small opportunities to accumulate more Bitcoins. Wait for DIPs or DCA, the investment decisions that you do today will establish your portfolio during the next bullish surge. Bitcoin may not have the best performance cycle per cycle, but it's definitely one of the handful of blockchains that will continue chugging along decade per decade.

As it should be. Every dip, dump, pump is a new opportunity presented to us to accumulate and make more effort to build a solid Bitcoin portfolio. The truth is that people are getting pulled because they over-expect much from Bitcoin. Some just dream on how Bitcoin would have just keep pumping,lol though many don't understand anything about market dynamics.

Accumulate, hold with a long term view of the market and sell off when necessary ensuring a reinvestment and nothing stops your accumulation process with a strategic plan.
Bitcoin is an asset not just a mere coin. You can start with little amount put to risk after settling out your funds and ensure you can meet up without breakdown of which DCAing is one of the best approach which already have been emphasized on in this thread.

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May 22, 2024, 04:09:18 PM
 #8612

You talked about aggressiveness and do you know the connection, being aggressive in terms of investment may be good because we have the enthusiasm to carry out but how controlling ability is important. If you do not have the ability to control then investment can be done slowly. Have you ever heard how people lose money in investments and it is influenced by individual mistakes, not because of Bitcoin, so when we want to invest, we need to pay attention to how to control it.

It's up to you whether you want to use the DCA pattern or so on, but it must also be able to be carried out according to your ability to control it. Investing in Bitcoin does have the opportunity to achieve success, but capital and strategy are important. Make purchases using a much more responsible method and store bitcoin until it reaches the selling value we want, from there we will see how bitcoin can provide freedom for investment.

One can be as aggressive they can ,but without over doing it, just as  sir JJG usually Said. Because most folks usually make alot of mistakes when it comes to being aggressive, mistakes like using their emergency funds to increase their rate of Accummulation without having any backup plan . Which may lead them tampering with their investment, for instance $500 is someone monthly salary and he or she decided to go all in with it without having any reserve funds he or she can take as backup funds , they may endup withdrawing their investment too early and the painful part is that they won't just withdraw the $500 back they may even endup withdrawing everything from their wallet . That's why is better to keep accumulating with any amount you know you can use at that moment, the main thing is that yah being consistent with your accumulation.
Any investor who is using his whole salary to aggressively buy bitcoin to increase his bitcoin investment and also buy at a low price is not disciplined with his bitcoin accumulation plan; he or she has allowed buying the dip to decide the amount of money to be used in accumulating bitcoin at the time of the dip. You are right; since bitcoin is not a quick-to-get-rich thing, the investor will not stay for up to a month, and he or she will tamper with his bitcoin investment to survive because he or she messed up his accumulation plan by using his whole money to aggressively accumulate bitcoin. Since the investor has tempered his bitcoin investment, he or she will wake up one day and decide to sell all his bitcoin investment because of the mistake he or she made when buying the dip. We should not be very concerned about buying the dip so that we will not make mistakes that could lead to selling our bitcoin investment when it has matured.
I agree with you on that Sir,Bitcoin is a long term Investments. it is not encouraging for an investors to greedily put all of his Savings to buy a Dips just for the purpose Of accumulating  more bitcoin in a short time. As an investor you have to plan yourself very well before investing in bitcoin for it is unwise to invest everything  in your savings because if you invest everything you have,how are you going to pay your bills,buy foods and even look out for yourself.it is wise not to invest out of greed in Bitcoin, buy a dips with what you can afford at the moments.
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May 22, 2024, 04:21:18 PM
 #8613

We need to invest bitcoins but invest in such a way that we don't have to sell our holdings if we face danger later. That's why we have to divide it into three parts. Having an emergency fund is the most important, so that we don't have to sell our investments in times of danger. And nothing should be done aggressively, the more aggressive the more likely to go wrong. But we must plan and take all steps to survive our investment for long time

Yeah that's true, we need to engage with long-term investment when it comes to Bitcoin,  because we all believe that Bitcoin is going to keep growing as time goes on , tho there's no guarantees and all that . Like recently we can see that Bitcoin hit the price range of $70k that's a good sign that the bull run is close. Bitcoin just gathering strength so that it can be able to surge massively, so selling your investment now due to the recent movement in price (increase) , won't be smart at all , because soon Bitcoin won't be around 5 digit, rather 6 digit and I at that time alot of folks that sold their holdings very early , are going to endup saying had I known.

We need to invest bitcoins but invest in such a way that we don't have to sell our holdings if we face danger later. That's why we have to divide it into three parts. Having an emergency fund is the most important, so that we don't have to sell our investments in times of danger. And nothing should be done aggressively, the more aggressive the more likely to go wrong. But we must plan and take all steps to survive our investment for long time.

How to allocate funds for each of these things will actually not be difficult enough for people who have income every month. For example, the funds we provide ourselves to buy Bitcoin while it is still at the Dip price with the aim of not wanting to sell it in the near future so that we ourselves can prepare this and not hold onto these funds except to buy Bitcoin at the Dip. Likewise with funds for other things in life so that the things we do such as investing in Bitcoin will never be disturbed even though in our life conditions we are facing bad things through the economy or whatever.

Well according to the lil knowledge have gathered concerning holding Bitcoin, when it comes to buying the dip is always advisable for one to set aside some reserve funds to purchase the dip if any occurs. Because we can't actually tell when or howfar the dip may go and all that . But having a reserve funds as already given one some advantage when it comes to the dip . So one don't have to wait for any dip before thinking of purchasing bitcoin, instead they can continue with their accummulation and purchase the dip when any occurs with their reserve funds while accumulating.
Deciding to invest in BTC is definitely not worth wasting time as it tends to be volatile all the time. Many expect the DIP price to be normal. But for those people DCA recommends continuing to deposit. Yes definitely he must have disposable income as well as emergency cash fund resources. Bitcoin continues to accumulate as well as the opportunity to buy higher while the relative dips. In this case the size of the stach increases with time as the share of future desired benefits. Again the habit of continuing to deposit normally in the trend of rising prices and for a long time.

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May 22, 2024, 04:24:03 PM
Merited by Zackz5000 (2), JayJuanGee (1)
 #8614

Edited out

Yes.. that is a fairly good point to highlight I_Anime.. so in the beginning if a newbie investor tries to be be a bit aggressive or even a bit overly aggressive in his investment into bitcoin, he might feel good for a while, but he is not going to be in a very good position if by surprise he finds out that he was actually too aggressive or even that he had put himself into a kind of emergency status because of his over aggressiveness.

So many times people will suggest that getting into an investment is better to error a bit on the side of some level of conservativeness which means less aggressive and perhaps even a bit whimpy until you get used to the fact that you are trying to set up a system in which you will never ever need to dip into your bitcoin investment before a time of your completely own choosing, which surely may well be 4-10 years or longer.

If people are not used to investing, by fault they might become a bit overly aggressive in terms of considering that some or all of their bitcoin could serve as a kind of emergency fund in the event that mistakes are made, yet surely that is not a very good way to invest into something as volatile as bitcoin.. so if the thoughts are that none of the funds that are invested into bitcoin can be touched for 4-10 years or longer, then that kind of a mental framework might be helpful in terms of investing a bit less into bitcoin while building the various other systems of emergency funds, reserves and float, and surely once those are decently in place and have been practiced for a while, there may well end up being abilities to become more aggressive with the disposable income that is then coming in, than would have otherwise been possible without having those various systems in place and without having some periods of practicing your systems and getting good feels for where the boundaries are.

This a very good information for everyone especially for new investors just starting out, and it also better explains the concept of aggressiveness and how it should be done wisely.

It's good that we also know that there are other necessary thigns we need to take notice of like building our emergency funds and keeping good cash reserves as anchors while we are been aggressive, most people rush into buying bitcoin and end up over allocating to much that they end up putting the same asset that they invested so much in at risk so yeah it's better to take it slowly while you strengthen yourself for a more aggressive approach by putting other systems that would ensure you don't sell your bitcoin prior to the time you had set.

Replying to @red4slash
Sure there are ways we can record our ongoing investments and it has been brought up and confirmed to be helpful so many times even more than just for knowing how much we have invested in bitcoin, this can also help us go back to repharse our steps and know where we have made mistakes and apply correction in our future plans, you can use an excel software to keep record of your investment actions or I myself I use a journal, but once I have a laptop as i planned to get one even if I have quite been unwilling to get one I would start using excel for that purpose, I just seem to enjoy the traditional pattern of keeping record.

Surely having a computer and being able to use various computer programs, such as excel, can be very powerful in terms of helping you to get to higher levels of analysis in terms of manipulating your data and/or changing some of the variables to be able to project forward in a variety of ways.

Surely you can also do several of the same functions with paper and pencil and maybe even some of the ideas might make more sense when they are on paper and even spread them out and look at your various notes in which some of them you might update regularly and others you might use to model out and/or get better understandings.  

Keeping record has been a good practice I learnt from you and it has helped Me to always retrace my steps and have my time to know what I I doing wrong and at times a mistake that woudl have taken a longer time to notice becomes way easier to find in a short period of time.

Although my most use of records are to set out future expectations of my plan to see if what I plan to do won't affect me on a longer time frame and how well it the plan is compared to other plans, but at times I can never figure out the path that would have been best for me to take untill after everything has been settled, anyway the more I do it the better I get at making those decisions.

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May 22, 2024, 04:24:37 PM
Merited by Samlucky O (2), JayJuanGee (1)
 #8615

You talked about aggressiveness and do you know the connection, being aggressive in terms of investment may be good because we have the enthusiasm to carry out but how controlling ability is important. If you do not have the ability to control then investment can be done slowly. Have you ever heard how people lose money in investments and it is influenced by individual mistakes, not because of Bitcoin, so when we want to invest, we need to pay attention to how to control it.

It's up to you whether you want to use the DCA pattern or so on, but it must also be able to be carried out according to your ability to control it. Investing in Bitcoin does have the opportunity to achieve success, but capital and strategy are important. Make purchases using a much more responsible method and store bitcoin until it reaches the selling value we want, from there we will see how bitcoin can provide freedom for investment.

One can be as aggressive they can ,but without over doing it, just as  sir JJG usually Said. Because most folks usually make alot of mistakes when it comes to being aggressive, mistakes like using their emergency funds to increase their rate of Accummulation without having any backup plan . Which may lead them tampering with their investment, for instance $500 is someone monthly salary and he or she decided to go all in with it without having any reserve funds he or she can take as backup funds , they may endup withdrawing their investment too early and the painful part is that they won't just withdraw the $500 back they may even endup withdrawing everything from their wallet . That's why is better to keep accumulating with any amount you know you can use at that moment, the main thing is that yah being consistent with your accumulation.
Any investor who is using his whole salary to aggressively buy bitcoin to increase his bitcoin investment and also buy at a low price is not disciplined with his bitcoin accumulation plan; he or she has allowed buying the dip to decide the amount of money to be used in accumulating bitcoin at the time of the dip. You are right; since bitcoin is not a quick-to-get-rich thing, the investor will not stay for up to a month, and he or she will tamper with his bitcoin investment to survive because he or she messed up his accumulation plan by using his whole money to aggressively accumulate bitcoin. Since the investor has tempered his bitcoin investment, he or she will wake up one day and decide to sell all his bitcoin investment because of the mistake he or she made when buying the dip. We should not be very concerned about buying the dip so that we will not make mistakes that could lead to selling our bitcoin investment when it has matured.

We need to invest bitcoins but invest in such a way that we don't have to sell our holdings if we face danger later. That's why we have to divide it into three parts. Having an emergency fund is the most important, so that we don't have to sell our investments in times of danger. And nothing should be done aggressively, the more aggressive the more likely to go wrong. But we must plan and take all steps to survive our investment for long time.

You can choose to be aggressive during your Bitcoin accumulation journey base on the result you want, if want to invest in Bitcoin and really want to benefit from it you need to be aggressive about it because you want the best for it will help you accumulate more Bitcoin without it affecting your personal life negatively but can be very risky when you over it without having a huge source of income that can help you take care of your personal need when unforseen challenges may arise, then it is going to affect your Bitcoin investment journey because it may lead to selling out your Bitcoin when it is not due time.
So Investing aggressively depends on the level of your discretional income and the level in which your emergency fund has gotten up to, if your emergency fund is up to 6 months and above you can become more aggressive in accumulating more Bitcoin than some one who's emergency fund is below 6 months and above .

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May 22, 2024, 04:50:19 PM
 #8616

We need to invest bitcoins but invest in such a way that we don't have to sell our holdings if we face danger later. That's why we have to divide it into three parts. Having an emergency fund is the most important, so that we don't have to sell our investments in times of danger. And nothing should be done aggressively, the more aggressive the more likely to go wrong. But we must plan and take all steps to survive our investment for long time.

Investing in bitcoin is not an aggressive move if you don’t have the means to. That aggression you’ve exhibit during investment in them will turn to disappointment when you come back to take from that which you’ve invested and hoping to have a big profit from it. What is more painful is that, at the time you’ll need it most, the price might have fluctuate and you’re likely to be at loss at that time when you want to sell. No one is asking you to rush to have a large portfolio in bitcoin, that was why the DCA strategy is here for us. With this strategy, you don’t need to aggressive buy or aggressive sell when you haven’t achieved your aim yet. Take your time, only invest what you can afford to keep for long until the investment reaches the target you plan to withdraw them back. This strategy is very easy and straightforward if you’re using it.

Quote
To have a proper plan on this maybe we should have a pie chart where we can separate our earnings into other things that we are considering on where we spend our money since if we have proper discipline on money for sure we can make all of things work out and we will not get any financial trouble if we follow all the plans we set. For doing all those discipline for sure we will be responsible on everything especially on each decision making we do.
Keep making a good financial plan. Allocate all your money carefully. Create a priority scale for which ones should come first and which ones can be optional choices. Allocate exactly how much Bitcoin you can afford each month and commit to your allocation as best as possible.

To further cut down the burden and not to see your investment in bitcoin  as a financial burden on a monthly basis, you don’t need to allocate a fix amount on it monthly. When the month comes around, after spending on all you need for that month including other unforeseen expenses, you can now allocate what is left into bitcoin investment if at all there’s any after spending. Don’t overstress yourself when you can’t, bitcoin investment is worth it but invest what you can keep there without touching it to settle other necessities of it doesn’t warrant as your emergency funds should suffix in those moments for you.

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May 22, 2024, 05:12:35 PM
Last edit: May 22, 2024, 05:24:16 PM by teamsherry
 #8617

You talked about aggressiveness and do you know the connection, being aggressive in terms of investment may be good because we have the enthusiasm to carry out but how controlling ability is important. If you do not have the ability to control then investment can be done slowly. Have you ever heard how people lose money in investments and it is influenced by individual mistakes, not because of Bitcoin, so when we want to invest, we need to pay attention to how to control it.

It's up to you whether you want to use the DCA pattern or so on, but it must also be able to be carried out according to your ability to control it. Investing in Bitcoin does have the opportunity to achieve success, but capital and strategy are important. Make purchases using a much more responsible method and store bitcoin until it reaches the selling value we want, from there we will see how bitcoin can provide freedom for investment.

One can be as aggressive they can ,but without over doing it, just as  sir JJG usually Said. Because most folks usually make alot of mistakes when it comes to being aggressive, mistakes like using their emergency funds to increase their rate of Accummulation without having any backup plan . Which may lead them tampering with their investment, for instance $500 is someone monthly salary and he or she decided to go all in with it without having any reserve funds he or she can take as backup funds , they may endup withdrawing their investment too early and the painful part is that they won't just withdraw the $500 back they may even endup withdrawing everything from their wallet . That's why is better to keep accumulating with any amount you know you can use at that moment, the main thing is that yah being consistent with your accumulation.
Any investor who is using his whole salary to aggressively buy bitcoin to increase his bitcoin investment and also buy at a low price is not disciplined with his bitcoin accumulation plan; he or she has allowed buying the dip to decide the amount of money to be used in accumulating bitcoin at the time of the dip. You are right; since bitcoin is not a quick-to-get-rich thing, the investor will not stay for up to a month, and he or she will tamper with his bitcoin investment to survive because he or she messed up his accumulation plan by using his whole money to aggressively accumulate bitcoin. Since the investor has tempered his bitcoin investment, he or she will wake up one day and decide to sell all his bitcoin investment because of the mistake he or she made when buying the dip. We should not be very concerned about buying the dip so that we will not make mistakes that could lead to selling our bitcoin investment when it has matured.

We need to invest bitcoins but invest in such a way that we don't have to sell our holdings if we face danger later. That's why we have to divide it into three parts. Having an emergency fund is the most important, so that we don't have to sell our investments in times of danger. And nothing should be done aggressively, the more aggressive the more likely to go wrong. But we must plan and take all steps to survive our investment for long time.

You can choose to be aggressive during your Bitcoin accumulation journey base on the result you want, if want to invest in Bitcoin and really want to benefit from it you need to be aggressive about it because you want the best for it will help you accumulate more Bitcoin without it affecting your personal life negatively but can be very risky when you over it without having a huge source of income that can help you take care of your personal need when unforseen challenges may arise, then it is going to affect your Bitcoin investment journey because it may lead to selling out your Bitcoin when it is not due time.
So Investing aggressively depends on the level of your discretional income and the level in which your emergency fund has gotten up to, if your emergency fund is up to 6 months and above you can become more aggressive in accumulating more Bitcoin than some one who's emergency fund is below 6 months and above .

Today's discussion in general has been good and has shead a lot of light to the subject of aggressiveness, someone who is just Starting out as a bitcoin investor should know that there are other important thigns that should be put in place before they start getting aggressive in buying bitcoin like having Good reserves and emergency up to 3-6 months , and I think investment should be done with some level of comfort and stability in our finances so that we don't put our self's in an early emergency due to a hastily act of buying very aggressively and forgetting other important aspects of our investment.

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May 22, 2024, 05:12:54 PM
 #8618

We are taking so much risk for investing all we have that's why its important for us to consider those important matter that needed to survive so that we will not really came to the point that we need to sell our holdings since there's an emergency situation happen to us. That's how the importance of setting up a emergency funds since this could help us survive on crucial times without even touching our funds used for investment.

Being so aggressive on our investment decision will put us on heavy situation that's the reason on why we need to think about those things that we are trying to do. Its not good for us to rush all our decision and risk everything we have. If they are confused about how to do good decision then they are already on right venue where everything related to bitcoin investment discussion is already here. For sure lots of people can learn a lot from statement given by experience people giving some of nice inputs about what are the possible best suggestions that a investor could ever do.
It is very important to make sure we have a good amount of money for emergencies before going into Bitcoin investment (especially when you are planning for the long term). With that, we can successfully invest in Bitcoin without selling any part of it just because we want to solve some kind of emergency issues. On Bitcoin investment there are some challenges an investor faces. The things there are, when you are not properly prepared for the long term investment, you can't afford to continue investing because you are not yet ready, and what makes you ready for investment is how much you are paid as salary and how much you already kept for emergency cases. Even if you are already investing before knowing this, you might not end well because there are things you failed to do/understand, and those things are:

*Making sure you have a good amount separately for emergency cases

*Knowing the best method you can use for your investment plans.

*Having good knowledge about the kind of investment you are in so that you will be able to strategize the kind of methods you can use for the investment.

I believe with these 3 points one can successfully know what and what's needed before investing in Bitcoin
Below are my replies to the highlighted points accordingly

1.The first readiness or factor I consider before investmenting is having that personal believe and conviction that Bitcoin is a coin that is worthy of investing

. Your income flow

. Understanding the level of your discretional or disposable income after taken care of your personal needs and provisional emergency funds.

2.Having a good emergency funds is a lead way to a successful investment journey the reason why it is always emphasized in this thread, the size of our emergency funds will definitely varies individually based on the level of our income flow and our lifestyles but by definition, it advisable to having 3 to 6 months worths of our  expenses as our emergency funds.

3.Every investor will only tailor down method(s) that will suits him or her.

4.Emphasis has been made severally about having a basic knowledge and learn more on your way up for most times experience happens to be the best teacher, prioritizing or seeking much of the knowledge can be retarding, so it best that after having the basic knowledge which includes the knowledge that is been shared here, any one can get the fucking started if the money is readily available for investment and figure out other things on your way up ànd this been one among the numerous advice @jajuanGee.




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May 22, 2024, 06:09:29 PM
Merited by JayJuanGee (1), Abbatty (1)
 #8619

To have a proper plan on this maybe we should have a pie chart where we can separate our earnings into other things that we are considering on where we spend our money since if we have proper discipline on money for sure we can make all of things work out and we will not get any financial trouble if we follow all the plans we set. For doing all those discipline for sure we will be responsible on everything especially on each decision making we do.
Keep making a good financial plan. Allocate all your money carefully. Create a priority scale for which ones should come first and which ones can be optional choices. Allocate exactly how much Bitcoin you can afford each month and commit to your allocation as best as possible.

To further cut down the burden and not to see your investment in bitcoin  as a financial burden on a monthly basis, you don’t need to allocate a fix amount on it monthly. When the month comes around, after spending on all you need for that month including other unforeseen expenses, you can now allocate what is left into bitcoin investment if at all there’s any after spending.Don’t overstress yourself when you can’t, bitcoin investment is worth it but invest what you can keep there without touching it to settle other necessities of it doesn’t warrant as your emergency funds should suffix in those moments for you.
[/quote]
It is good that you have a fixed amount that you use to buy bitcoin regularly weekly or monthly through DCA to enable you have a proper focus on how much that you will use to invest in bitcoin yearly and it will also be easy for you to re-access your investment to know if you are doing it well or you need to increase the amount that you are using to invest or continue with that amount.

10% of your income is good for you to use to invest in bitcoin regularly through DCA so that you will be use to using that amount a d it will also be in your weekly or monthly budget. This is why a proper plan and financial management is very important when you are investing in bitcoin. Before investing, you already know how much income you do have, and you also know your monthly expenses. It is from the left over after you have sorted out your expenses and important needs from your monthly income, that you use part of that your left over to invest in bitcoin and you should use a specific amount that will not add tension or stress you to buy using DCA consistently and persistently. Using the same amount will make you more discipline on managing your expenses amd discretionary income.

If you are just using any amount that you like to buy bitcoin from your discretionary income, then it means that you will not have a bitcoin target which you can focus on accumulating over a given period of time. The time that you can increase the amount that you use in DCA is when your discretionary income has increase or you have saved and prepared for the dip when it comes. Buying with different amount might not make you too serious with accumulating bitcoin in a long-term and you will not be able the acquire a good amount of bitcoin compare to someone who is buying frequently with the same amount of money. You should also note that if you buy bitcoin with the same amount of money, you will not always have the same amount of bitcoin due to price fluctuation.

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May 22, 2024, 06:25:10 PM
 #8620

You talked about aggressiveness and do you know the connection, being aggressive in terms of investment may be good because we have the enthusiasm to carry out but how controlling ability is important. If you do not have the ability to control then investment can be done slowly. Have you ever heard how people lose money in investments and it is influenced by individual mistakes, not because of Bitcoin, so when we want to invest, we need to pay attention to how to control it.

It's up to you whether you want to use the DCA pattern or so on, but it must also be able to be carried out according to your ability to control it. Investing in Bitcoin does have the opportunity to achieve success, but capital and strategy are important. Make purchases using a much more responsible method and store bitcoin until it reaches the selling value we want, from there we will see how bitcoin can provide freedom for investment.

One can be as aggressive they can ,but without over doing it, just as  sir JJG usually Said. Because most folks usually make alot of mistakes when it comes to being aggressive, mistakes like using their emergency funds to increase their rate of Accummulation without having any backup plan . Which may lead them tampering with their investment, for instance $500 is someone monthly salary and he or she decided to go all in with it without having any reserve funds he or she can take as backup funds , they may endup withdrawing their investment too early and the painful part is that they won't just withdraw the $500 back they may even endup withdrawing everything from their wallet . That's why is better to keep accumulating with any amount you know you can use at that moment, the main thing is that yah being consistent with your accumulation.
Any investor who is using his whole salary to aggressively buy bitcoin to increase his bitcoin investment and also buy at a low price is not disciplined with his bitcoin accumulation plan; he or she has allowed buying the dip to decide the amount of money to be used in accumulating bitcoin at the time of the dip. You are right; since bitcoin is not a quick-to-get-rich thing, the investor will not stay for up to a month, and he or she will tamper with his bitcoin investment to survive because he or she messed up his accumulation plan by using his whole money to aggressively accumulate bitcoin. Since the investor has tempered his bitcoin investment, he or she will wake up one day and decide to sell all his bitcoin investment because of the mistake he or she made when buying the dip. We should not be very concerned about buying the dip so that we will not make mistakes that could lead to selling our bitcoin investment when it has matured.

We don't need to get broke just to cope up with our investment and there's no need to rush on everything especially on our bitcoin investment since everything is in process that's why we should never invest all of our salary to our bitcoin investment since for sure we will really get a problem with that in long run since we might come up to an idea to get a loan since we can't take care of other thing that important to consider just to live a comfortable life.


You know they always said slow and steady wins the race, its risky to rush into an aggressive investment without having been prepared for such, I believe that they are some things that are necessary to attend to before being aggressive like building an emergency fund, IMO this is the first thign any new investors that is coming into investment should attend to first aggressively even before buying bitcoin and that's because of its Importance, an emergency fund can be seen as a key back bone to all our investment and even our general financial stability and that's why its should be attend to first, then a new investor should consider having some cash reserves and floats as hedge for his ongoing bitcoin investment before getting more aggressive with his buying even tho he might start a little whimpy but this would ensure that he can maintain an aggressive pace without wreaking the whole shit out.

To have a proper plan on this maybe we should have a pie chart where we can separate our earnings into other things that we are considering on where we spend our money since if we have proper discipline on money for sure we can make all of things work out and we will not get any financial trouble if we follow all the plans we set. For doing all those discipline for sure we will be responsible on everything especially on each decision making we do.

We can't neglect cashflow management can really help a lot as an investor cause that way you would have little problem maximising your finances to bring out more discretionary income for yourself, I personally prefer using a journal for this stuff mainly cause Im a book type and like keeping record of how my day went so it's easier for me to reflect back at my book, but sure this is also a great idea.

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