Buy the DIP, and HODL!

[Woodie]

Buying every dip seems like an expensive undertaking for certain coins to be honest, but if the price is right then you could have a target of how many coins you want of this type buying.
If this is the strategy then it's best to go fish for altcoins otherwise buying at every dip would be something done by the big fish(whales) not retail traders (us)

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[JayJuanGee]

Buying every dip seems like an expensive undertaking for certain coins to be honest,

First:  We are only talking about bitcoin, here.

Second: There are ways to budget so that you never run out of money.  So for example if the price is at $60k, and then you decide to buy $200 every $2,000 the price drops (Starting at $54,000), then you better, have $4,400 in your account if you are buying all the down to $32k (22 buy orders x $200 = $4,400).  Of course, you have to adjust your amounts to buy to your budget and to your expectations, and hopefully you do not run out of money to buy because you did not budget sufficiently.  

Let's say that you buy all the way down to $40k, but you run out of money because you only had $2,600 in your account (that would be 13 buy orders at $200 each).  So then you got stuck without buying any BTC between $30k and $40k because you did not have any money left, and you did not expect the BTC price to drop down that low.  At that point, you could just HODL.. and maybe buy some more if the BTC price stays below $40k for long enough for you to get more cashflow coming in, and hopefully, you learn some lessons about not running out of money and to plan for more extreme scenarios so you do not miss such opportunities in the future... even if those extreme scenarios are beyond your expectations.

but if the price is right then you could have a target of how many coins you want of this type buying.

Not sure if I follow.  I thought that your hypothetical was that you had run out of money?

If this is the strategy then it's best to go fish for altcoins

1) altcoins are irrelevant to this thread

2) even if altcoins were relevant, it would not mean that the best course of action would be to buy altcoins (aka shitcoins).. that is dumbass advice.. and largely means that you are gambling rather than investing.

3) kind of dumb to get distracted into shitcoins merely because you failed to plan your cashflow, and maybe you want to spend your last $1k on shitcoins rather than thinking about ways to better fix your BTC plans so you are not fucking up in terms of your BTC plans..

4) not only does getting involved in shitcoins dilute the money that you can put into BTC, it also distract your brainpower into speculating that there might be value in shit.. .. which is more like gambling than investing.

otherwise buying at every dip would be something done by the big fish(whales) not retail traders (us)

The ONLY reason that whales (or big fish) might be able to buy on the larger dips is because they did not already blow all of their wadd.  So if you don't have a big enough wadd, then learn how to budget your wadd a wee bit better so you are not running out of it.

One of the greatest advantages of bitcoin is that regular normies have chances to front run institutions and rich people.. and it is NOT about the size of your wadd, but instead about your ability to both exercise prudence in your investing and to work with what you got, even if you might ONLY have $5 per week to put into bitcoin.   Even if you have a small budget, you can buy BTC 24/7 and you can also budget yourself to make small buys, if that works better for you and your budget.

[Wind_FURY]

Buying every dip seems like an expensive undertaking for certain coins to be honest, but if the price is right then you could have a target of how many coins you want of this type buying.

I believe I should change the title, and remove “every”? “Buy every dip” + DCA during the time the topic was made applied well because it was the right time. Buying “every dip” during the wrong part of the cycle could cost you more capital, BUT a well placed DCA strategy will bring your average entry price lower.

If this is the strategy then it's best to go fish for altcoins otherwise buying at every dip would be something done by the big fish(whales) not retail traders (us)

From a long term investment perspective, zoom out and compare to Bitcoin. Bitcoin is still the safest fundamentally, and technically. Many shitcoins retrace 90% of their surges made during a bull market.

[onecall123]

I really like to comprehend alternate points of view. Many thought it wouldn’t fall below 50k, however It’s close to reach 30k resistance right now. The greatest of all time now in heavy sell pressure. I keep thinking about whether it's right time to buy however there is always room for bulls. Just thought more people are purchasing and the gains are getting bigger. Only those paper hands sold at a loss. That is your shortcoming.

[Wind_FURY]

Credit to the person with the Twitter handle @888VELVET.



The current cycle is the time of countries/government institutions, business institutions, and the billionaires. Selling today would be selling to those institutions with hands stronger than you. We shouldn’t make it easy for them, let them bid it up to 6 digits!

[mhine07]

Buying every dip is good but it depends what you should buy for hodling, there are many choices to buy in every dip but i think bitcoin is the best buy when its price is going dip and best to hodl for a long term to make big profits when its value goes high. And even etherium is the best buy and hodl for long term to gain more profits.

[JayJuanGee]

Buying every dip is good but it depends what you should buy for hodling, there are many choices to buy in every dip but i think bitcoin is the best buy when its price is going dip and best to hodl for a long term to make big profits when its value goes high. And even etherium is the best buy and hodl for long term to gain more profits.

Who gives any shits about Ethereum..?

This thread is about bitcoin.

[Marvelman]

We're seeing a boring market right now, with BTC closing 4-hour candle below $35,000. The volume is also low, so there is not much buying/selling going on.
All we can do is watch the market and wait for a breakout. We may see new dips soon.

Who gives any shits about Ethereum..?

Well said.

[ILuckyGuyI]

Yeah, it could be one of the best things to do in this market I think. We should see the dip as a big opportunity to accumulate even more. It is very important for especially HODLers. We may not have this chance again in the near future.

[Wind_FURY]

We're seeing a boring market right now, with BTC closing 4-hour candle below $35,000. The volume is also low, so there is not much buying/selling going on.

All we can do is watch the market and wait for a breakout. We may see new dips soon.

I believe everyone is starting to realize that they should be buying the dip, with everyone’s bids too low, maybe placed at $28,000 to $30,000. It might be the same situation as September of last year, and that the market might be in “pre-FOMO”.



Credit to the person on Twitter, I forget his handle.

[erep]

I believe everyone is starting to realize that they should be buying the dip, with everyone’s bids too low, maybe placed at $28,000 to $30,000. It might be the same situation as September of last year, and that the market might be in “pre-FOMO”.

The market has signaled at the lowest price point after ATH, the first low was $28k and I am very sad to ignore the signal as doubts arise as if the price is going to drop further, hence the recent low of almost $30k makes me more optimistic that it's time to buy it and hold it for the long term.

[JayJuanGee]

We're seeing a boring market right now, with BTC closing 4-hour candle below $35,000. The volume is also low, so there is not much buying/selling going on.

All we can do is watch the market and wait for a breakout. We may see new dips soon.

I believe everyone is starting to realize that they should be buying the dip, with everyone’s bids too low, maybe placed at $28,000 to $30,000. It might be the same situation as September of last year, and that the market might be in “pre-FOMO”.



Credit to the person on Twitter, I forget his handle.

What are you talking about Wind_FURY?

There was already a chance to buy the dip down to $30k, and it seems that such opportunity so far had been around 3 weeks.  You seem to be suggesting that such opportunity is NOT over and from the chart, it may well last for a couple more months.  What are the odds of such a scenario playing out?  I am surely not opposed for preparing for such a scenario, but hopefully peeps are prepared for UP as well, in case such scenario does not play out. 

Hopefully peeps got a decent amount on this last dip, and so then if another dip happens they can pick up some more, and if it does not happen, they are also ok both psychologically and financially based on how much they had already picked up.

We will see won't we?  Betting on down in a bull market has fucked a lot of folks in the past, and sure there is a possibility that we are not still in a bull market, but I doubt that the odds are high right now of NOT being in a bull market.  Don't get me wrong also, dipping again does not suggest that we are still not in a bull market, but betting on down in a bull market still remains a problematic approach to meaningfully and adequately preparing for UP.. which tends to be a problem with lots of folks not limited to fence sitters, bitcoin naysayers, no coiners and shitcoin pumpeners.

[Wind_FURY]

We're seeing a boring market right now, with BTC closing 4-hour candle below $35,000. The volume is also low, so there is not much buying/selling going on.

All we can do is watch the market and wait for a breakout. We may see new dips soon.

I believe everyone is starting to realize that they should be buying the dip, with everyone’s bids too low, maybe placed at $28,000 to $30,000. It might be the same situation as September of last year, and that the market might be in “pre-FOMO”.



Credit to the person on Twitter, I forget his handle.

What are you talking about Wind_FURY?

There was already a chance to buy the dip down to $30k, and it seems that such opportunity so far had been around 3 weeks.  You seem to be suggesting that such opportunity is NOT over and from the chart, it may well last for a couple more months.  What are the odds of such a scenario playing out?  I am surely not opposed for preparing for such a scenario, but hopefully peeps are prepared for UP as well, in case such scenario does not play out. 

I’m confused. I was actually saying that those who bid around the $28,000 to $30,000 level might be bidding it too low/miss the opportunity, and those who bid it too low are the same people who FOMO when Bitcoin starts the surge. The market might again be in “pre-FOMO”.

[JayJuanGee]

We're seeing a boring market right now, with BTC closing 4-hour candle below $35,000. The volume is also low, so there is not much buying/selling going on.

All we can do is watch the market and wait for a breakout. We may see new dips soon.

I believe everyone is starting to realize that they should be buying the dip, with everyone’s bids too low, maybe placed at $28,000 to $30,000. It might be the same situation as September of last year, and that the market might be in “pre-FOMO”.



Credit to the person on Twitter, I forget his handle.

What are you talking about Wind_FURY?

There was already a chance to buy the dip down to $30k, and it seems that such opportunity so far had been around 3 weeks.  You seem to be suggesting that such opportunity is NOT over and from the chart, it may well last for a couple more months.  What are the odds of such a scenario playing out?  I am surely not opposed for preparing for such a scenario, but hopefully peeps are prepared for UP as well, in case such scenario does not play out.  

I’m confused. I was actually saying that those who bid around the $28,000 to $30,000 level might be bidding it too low/miss the opportunity, and those who bid it too low are the same people who FOMO when Bitcoin starts the surge. The market might again be in “pre-FOMO”.

Fair enough Wind_FURY that we might be saying the same thing in terms of difficulties to know if we are going to either be able to have more buy opportunities in the lower $30ks and even in the sub $30ks, and so maybe part of the confusion comes from the chart that you linked that seems to show that there are going to be more sub $30k future opportunities - maybe even several months worth of sub $30k opportunities to buy.

Of course, none of us have any kind of certainty in knowing whether there is going to be more down before UP, and I would certainly prefer to be in a financial and psychological position that I am NOT part of any FOMO situation but instead it might be O.k. to watch from the outside.. It's not as if there is much that we can do, on personal levels, to stop FOMO situations from happening, but hopefully we can set ourselves in such ways that we do not become part of the FOMO participants (in other words, if we get ahead of our trades, we are prepared for either BTC price direction - and ultimately less emotional regarding quantity and quickness of price direction when the BIG moves do happen from time to time).

[Wind_FURY]

Those green boxes do not represent opportunities for buying. They actually represent where most of the bids are. But the whalecumulators are smart. They front run the everyone, buy Bitcoin up a little and cause everyone to FOMO.

Plus there’s something off-topic I want to ask an OG like you, JayJuanGee. What’s your opinion on Paul Sztorc’s Drivechain/BIP-300 proposal?

[JayJuanGee]

Those green boxes do not represent opportunities for buying. They actually represent where most of the bids are. But the whalecumulators are smart. They front run the everyone, buy Bitcoin up a little and cause everyone to FOMO.

Plus there’s something off-topic I want to ask an OG like you, JayJuanGee. What’s your opinion on Paul Sztorc’s Drivechain/BIP-300 proposal?

I did a quickie watch of Sztorc's 13-minute Bitcoin 2021 presentation, and in principle I do not have any problem with the idea of some kind of sidechain pegging like that, and so I do not recall hearing any major objections to those kinds of ideas.

Surely, some of the major problems that I have with a variety of shitcoins (maybe most of them) is that there seem to be tendencies to print their own coins which then leads to various scamming incentives and attempts to suggest their project(s) to be superior or equal to bitcoin or even to imply or exaggerate various problems with bitcoin, so if there are ways to peg many or most projects to bitcoin that surely would take away that angle of my personal objections, and otherwise I surely do not have problems with people having more options so if various kinds of shitcoins were pegged to bitcoin like that, then there would likely be more options and even creativity, and at that point we may likely need not refer to them as shitcoins or in those kinds of denigrating ways.  Perhaps?

Sometimes it may take me a while to form an opinion on something technical like a sidechain or a drive chain or a peg because I would likely have to rely on various descriptions from other technical people, and maybe hear some objections, if there are any, and see if I agree with the objections, or if there might be some balancing arguments or maybe even other ways to do the same thing but in better ways or possible ways around the objections (or possible compromises that can be reached)..

So I might not be a very good person to ask in terms of figuring out details of something like this, even though my impression at this point is that it does not sound like a bad idea.. and it seems to have been around for a few yers and even with some working testnet level code, too... and yeah, if we want to pursue this conversation, we might either need to take it to another thread or somehow relate it to this topic.

[Wind_FURY]

Those green boxes do not represent opportunities for buying. They actually represent where most of the bids are. But the whalecumulators are smart. They front run the everyone, buy Bitcoin up a little and cause everyone to FOMO.

Plus there’s something off-topic I want to ask an OG like you, JayJuanGee. What’s your opinion on Paul Sztorc’s Drivechain/BIP-300 proposal?

So I might not be a very good person to ask in terms of figuring out details of something like this, even though my impression at this point is that it does not sound like a bad idea.. and it seems to have been around for a few yers and even with some working testnet level code, too... and yeah, if we want to pursue this conversation, we might either need to take it to another thread or somehow relate it to this topic.

I actually started another topic, showing that I was also “open-minded” and willing to listen to ideas for upgrades in Bitcoin, BUT obviously there were some people who don’t want me to be open-minded unless the upgrade was an upgrade of Bitcoin’s POW, which would be stupid to upgrade in the first place. Haha.

Plus wasn’t Blockstream’s original goal was to develop Bitcoin sidechains? You’re an OG, perhaps you could ask your other Bitcoin friends.

[JayJuanGee]

Those green boxes do not represent opportunities for buying. They actually represent where most of the bids are. But the whalecumulators are smart. They front run the everyone, buy Bitcoin up a little and cause everyone to FOMO.

Plus there’s something off-topic I want to ask an OG like you, JayJuanGee. What’s your opinion on Paul Sztorc’s Drivechain/BIP-300 proposal?

So I might not be a very good person to ask in terms of figuring out details of something like this, even though my impression at this point is that it does not sound like a bad idea.. and it seems to have been around for a few yers and even with some working testnet level code, too... and yeah, if we want to pursue this conversation, we might either need to take it to another thread or somehow relate it to this topic.

I actually started another topic, showing that I was also “open-minded” and willing to listen to ideas for upgrades in Bitcoin, BUT obviously there were some people who don’t want me to be open-minded unless the upgrade was an upgrade of Bitcoin’s POW, which would be stupid to upgrade in the first place. Haha.

Plus wasn’t Blockstream’s original goal was to develop Bitcoin sidechains? You’re an OG, perhaps you could ask your other Bitcoin friends.

Ok.  I saw your thread.  I will look through it, and surely Carlton's first response seems quite valid, if there are already other threads out there, then the contents of such other threads (to the extent known or knowable) should be taken into account before starting a new thread..   

You know that sometimes OPs of new threads will list the various other threads that are out there at the time of the creation of the new thread, to the extent some of those other threads might be related.. and so you would thereby attempt to pre-emptorily rebutt any claims that you are bringing up topics that are either covered elsewhere or that you are NOT sufficiently accounting for the various arguments that are out there and easy to find.

Whether a member is OG or not, they are going to have difficult times arguing some points with vigor if they are not attempting to account for some of the previous discussions.  I surely do not tend to bring up topics that I have not looked into merely because they sound good, but then I don't tend to start new threads either.. I usually just participate in existing threads, so my discussions tend to be in context of issues that are coming up in already existing threads (even though sometimes I might deviate, like we seem to be doing here). 

Anyhow, I understand that there could be some changed circumstances that would justify raising an "old" topic, or maybe an "old" topic has not been sufficiently batted around, and maybe that is the case with BIP300.. The mere fact that it was presented at Bitcoin 2021 does seem to show that at least Sztorc considered the topic to be something of potential interest, and he got the Bitcoin Magazine conference sponsors to agree that his topic was worthy of one of the conference stages.

I do recall sidechains being discussed in bitcoin for quite a long time... some variations ever since I got into bitcoin, and the subject matter has not just been a Blockstream thingie, so for me, personally, I just have not been studying such topic or even considering the topic to have urgencies. Remember part of the reason that that goofball Vitalik ran off and did his own scam chain was because the developers were not very receptive to his ideas in terms of creating potential attack vectors and vulnerabilities on bitcoin, but sure I do not recall hearing anything about Vitalik proposing the matter as a sidechain, and many of us recognize that part of the motivation for any shitcoin, including likely Vitalik and the various other Ethereum twats was to actually want to print their own money rather than attempting to figure out ways to try to attach or peg or whatever their supposed "innovations" to bitcoin.

I am not sure about what you mean by a need to change POW in order to accomplish sidechains or pegging, and BIP 300 does not seem to be suggesting any kind of necessity for change of POW.. but hey, I don't claim to be even close to smart enough in technical senses about limitations of what can be done or should be done (is it worth it?).. but maybe there are some valid discussions out there?  I will at least look at the thread you started, and maybe there is a need to look at some other threads (or link them therein too) prior to keeping the thread going in the event that the topic might be covered somewhere else. 

Who wants to be called a drama queen anyhow?  Not this cat.  Any of us could be called (or labelled as) a drama queen if there seems to be a pattern of bringing up seemingly wishful-thinking topics.

[kapalmabur]

Buy every DIP only applies to altcoins with good fundamentals, for example Ethereum and Binance,
if you buy Ethereum during DIP in 2018,2019,2020 of course all your purchases will get profit this year,
because 2021 Ethereum reaches a new all time high, which means the price touches a new chapter, and a new chart story,
accumulate again this year, maybe you will be lucky again

[JayJuanGee]

Buy every DIP only applies to altcoins with good fundamentals, for example Ethereum and Binance,
if you buy Ethereum during DIP in 2018,2019,2020 of course all your purchases will get profit this year,
because 2021 Ethereum reaches a new all time high, which means the price touches a new chapter, and a new chart story,
accumulate again this year, maybe you will be lucky again

Get that nonsense about shitcoins out of this bitcoin thread.  You can either make your own thread or take it to some shitcoin thread.

there are some cryptos

This thread is not about "some cryptos," it is about bitcoin.

that are really suitable for us to make long-term investments (hold) such as btc, bnb, trx and ethereum,

Fuck that nonsense.. take it to some other thread if you believe that buying on dip and HODLing might apply to that nonsense..

Of course, it applies to bitcoin, but that other shit that you mention likely needs some further analysis including attempting to analyze details regarding each of those pump and dump scam smoke and mirrors centralized baloney pieces.

but now many traders are holding (including me) because they are stuck buying at high prices when crypto prices have soared some time ago , so like it or not holding is one solution in my opinion, I personally actually prefer short-term trading rather than having to hold crypto for a long time except bitcoin, because in my opinion short-term trading is better, especially if the amount of the price difference has fluctuations higher in the market so that the short-term transactions that we do can benefit both buying and selling from the price difference, rather than holding for a long period of time so that the velocity of our money tends to be stable without any increase.

We are also not talking about shitcoins here, even if you might attempt to make some kind of claim that you are trying to relate your discussion to this thread because your goal is to accumulate more BTC.

There are threads about both trading shitcoins and also trading shitcoins to accumulate more BTC, but this ain't one of those threads.