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Author Topic: Buy the DIP, and HODL!  (Read 74512 times)
Raflesia
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August 31, 2023, 09:03:09 PM
Merited by JayJuanGee (1)
 #2761

Sorry if it disturbs your discussion, lately I often hear how almost every time I meet my friends talk about investing in Bitcoin in the DCA way, I am curious and finally know the general description of DCA, which is to allocate a certain amount of money to invest regularly as you said. Does DCA here have to be supported by stable finances? for example, having a steady income from work which can later be used to invest more regularly.
I say that because my friend's discussion with his financial condition was clearly inappropriate. I mean, their income is unstable but investing the DCA way.
What do you think the ideal DCA looks like? I really need advice because I have been studying Bitcoin for a long time, my income is quite stable for now. It would be very profitable if this financial allocation was invested in Bitcoin. As long as I know the risks, I believe Bitcoin will be useful in the future and institutional adoption is also currently increasing. As someone who is interested in investment strategies, you definitely need the right method.
This discussion always repeats itself because every time I read this thread from the previous few months there is always discussion about the ideal DCA (for some people) and there are already several people who have given their views. You just have to look and read a few pages behind whether some people's views will be the same. suitable or not for you to adapt as a strategy that you carry out in your DCA.
Meanwhile, when you look at financial conditions (income) that are not very stable, actually that might be a reason, but I think when someone is aware of the economy and their income then it is not a problem because of course we already have financial management and we cannot possibly do DCA with the same percentage. bigger than the income we earn and save in one month.
That's why many people always discuss investing according to what we can afford because when we DCA it's not just about buying once and then it's done, but we need to take into account whether the money we spend (for the DCA portion) can make it consistent in the future because this is important. so that we know how much we have to budget for purchases in DCA in a day/week/month.

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Odusko
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August 31, 2023, 09:30:44 PM
 #2762

Sorry if it disturbs your discussion, lately I often hear how almost every time I meet my friends talk about investing in Bitcoin in the DCA way, I am curious and finally know the general description of DCA, which is to allocate a certain amount of money to invest regularly as you said. Does DCA here have to be supported by stable finances? for example, having a steady income from work which can later be used to invest more regularly.
I say that because my friend's discussion with his financial condition was clearly inappropriate. I mean, their income is unstable but investing the DCA way.
What do you think the ideal DCA looks like? I really need advice because I have been studying Bitcoin for a long time, my income is quite stable for now. It would be very profitable if this financial allocation was invested in Bitcoin. As long as I know the risks, I believe Bitcoin will be useful in the future and institutional adoption is also currently increasing. As someone who is interested in investment strategies, you definitely need the right method.
This discussion always repeats itself because every time I read this thread from the previous few months there is always discussion about the ideal DCA (for some people) and there are already several people who have given their views. You just have to look and read a few pages behind whether some people's views will be the same. suitable or not for you to adapt as a strategy that you carry out in your DCA.
Meanwhile, when you look at financial conditions (income) that are not very stable, actually that might be a reason, but I think when someone is aware of the economy and their income then it is not a problem because of course we already have financial management and we cannot possibly do DCA with the same percentage. bigger than the income we earn and save in one month.
That's why many people always discuss investing according to what we can afford because when we DCA it's not just about buying once and then it's done, but we need to take into account whether the money we spend (for the DCA portion) can make it consistent in the future because this is important. so that we know how much we have to budget for purchases in DCA in a day/week/month.
DCA doesn't mean going all in at once and if anyone does that, that person is not DCA in the real sense but have just gambled, because when you talk about DCA approach, it has to do with a long term practice for small investors that want to DCA all the way up and down depending on the market conditions at that time, but more also if any one have big bag and want to buy all in at once, it then left for them but they may not be DCA in the real sense of it.
So the ideal DCA will be buying all the way at every market direction setting aside only 20%-39% of your total monthly income and holding bitcoin and a traded asset that allows you to take advantage of the market at any point, and This also applies to DCA on any coin.

The approach to proper DCA can not be single handly outlined since various market organs also have their own.

.
.Duelbits.
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FinePoine0
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September 01, 2023, 12:41:32 AM
 #2763

The amount of DCA assets depends on the individual investing. You can purchase Bitcoin in different steps to make long term DCA. The right way to trade in Bitcoin is to divide yourself into several parts. So that you can buy when the bitcoin market is low and sell it at high speed or hold long term. Following these methods is called DCA, there is very less chance of loss if you invest in DCA method. And if you invest directly the chances of loss are high. Hence following DCA is the main sign of an ideal investor.

JayJuanGee
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September 01, 2023, 12:53:48 AM
 #2764

The amount of DCA assets depends on the individual investing. You can purchase Bitcoin in different steps to make long term DCA. The right way to trade in Bitcoin is to divide yourself into several parts. So that you can buy when the bitcoin market is low and sell it at high speed or hold long term. Following these methods is called DCA, there is very less chance of loss if you invest in DCA method. And if you invest directly the chances of loss are high. Hence following DCA is the main sign of an ideal investor.

Yeah but we are not talking about selling in this thread, so you are talking about the wrong kind of supposed DCA if you are suggesting that it involves selling or needs to consider selling.

Sure if you are trying to accumulate dollars, then you might sell whatever it is that you buy when it is at a certain point in dollar profits, but again, we are not talking about those kinds of strategies in this thread.

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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September 01, 2023, 01:04:32 AM
 #2765

In a recent news I saw the exact procedure of DCA.

QUESTION: "Oliver, why don't you trade #Bitcoin   ?"

ANSWER: "Well, trading #BTC    has been proven to be a losing strategy over the long run. Do you know why? Because 80% of all BTC's gains happen over only 13 days per year.

If you miss just one or two of these days, you're finished as far as being able to beat a simple weekly DCA (dollar-cost-average) buy and hold plan throughout BTC's full four year cycle.

Additionally, once you add the cost of taxes in the form of short-term capital gains, trading fees, and slippage, you've further eroded the possibility of beating a simple DCA buy and hold plan.

I've been a trader for 43 years, 37 of which as a professional. I've done the numbers on this every which way but loose, and I'm telling you this:

I will beat you as a trader with ease every single cycle while puffing on Cuban cigars and sipping on the finest wines of Spain and sleeping like a freshly bathed baby every single night with my DCA buy and hold plan.

I don't trade #Bitcoin because I want to win, not lose. Got it?"

Shout out to Spain 🇪🇸.  I love you!"

THE END
#HODL

Source link
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September 01, 2023, 08:19:49 AM
 #2766

The amount of DCA assets depends on the individual investing. You can purchase Bitcoin in different steps to make long term DCA. The right way to trade in Bitcoin is to divide yourself into several parts. So that you can buy when the bitcoin market is low and sell it at high speed or hold long term. Following these methods is called DCA, there is very less chance of loss if you invest in DCA method. And if you invest directly the chances of loss are high. Hence following DCA is the main sign of an ideal investor.
I continue to accumulate bitcoin with the DCA strategy and to be honest I never thought of selling it in a hurry even though it already has profits in the portfolio alone, but does that invalidate the strategy that I use? I would say it does not invalidate the strategy that I use.
I understand that we will sell eventually, but not that fast, because for me personally it will take a very long time to hold it, yes at least if it reaches ATH again that is the time I think is right to sell it.
I'm thinking why sell quickly (even though we already have a profit) when we can maximize the profit we can get.

R


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September 01, 2023, 09:29:00 AM
 #2767

-snip-
I continue to accumulate bitcoin with the DCA strategy and to be honest I never thought of selling it in a hurry even though it already has profits in the portfolio alone, but does that invalidate the strategy that I use? I would say it does not invalidate the strategy that I use.
I understand that we will sell eventually, but not that fast, because for me personally it will take a very long time to hold it, yes at least if it reaches ATH again that is the time I think is right to sell it.
I'm thinking why sell quickly (even though we already have a profit) when we can maximize the profit we can get.
This is expected from experienced users especially if you have a manageable budget to invest consistently with a DCA strategy. I agree this is the best way to build your investment portfolio well, but I don't expect you to lie to yourself about what you say.

I'm sure some of them bought on dip and DCA prices, but I'm sure not everyone who says they are actually buying because of the budget constraints they have. Honestly, I really want to stop this nonsense, but let them think for themselves. red4slash, you know that you still need to have an emergency budget to deal with unexpected financial situations, so you don't need to emphasize your desire to invest consistently if you don't have an emergency budget.

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$crypto$
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September 01, 2023, 02:13:16 PM
Merited by JayJuanGee (1)
 #2768

I'm sure some of them bought on dip and DCA prices, but I'm sure not everyone who says they are actually buying because of the budget constraints they have. Honestly, I really want to stop this nonsense, but let them think for themselves. red4slash, you know that you still need to have an emergency budget to deal with unexpected financial situations, so you don't need to emphasize your desire to invest consistently if you don't have an emergency budget.
If there is no emergency budget, it could be that the investment will fall apart, we humans are in need of the unexpected so understand this, don't ignore that emergency funds are important for your needs, including your family's health costs.
There is a theory that to start investing it must have a reserve fund for the next 6 months so that investment will not be disrupted, the next 6 months can be categorized as an emergency budget while there is still income every month, so investment will be much better when something starts with a mature plan.

Of course they have different views on how to invest in bitcoin, here we must be able to accumulate bitcoin and that many people want.
Surviving 5 years with bitcoin I think that is enough to take maximum advantage.

R


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September 01, 2023, 03:04:52 PM
 #2769

Of course they have different views on how to invest in bitcoin, here we must be able to accumulate bitcoin and that many people want.
Surviving 5 years with bitcoin I think that is enough to take maximum advantage.

True, this is very relevant and makes sense, however, regarding the pattern of investing in BTC using the DCA method if it starts today... I think the waiting period of 5 years might be too long for me personally, maybe for other people. Yes, I was thinking and this is definitely not a reference as conveyed by brother @2Pizza410000BTC regarding the BTC price target via the GPT caht application because it is possible that the current data has not been completely generated. there is a big possibility that in April 2024, to be precise, the profit can be felt and one more thing I think is the point, for those who have a monthly salary and are already paid, this DCA style investment pattern can already be applied  Grin Grin.

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September 01, 2023, 04:00:46 PM
Merited by vapourminer (1), JayJuanGee (1)
 #2770

In a recent news I saw the exact procedure of DCA.

QUESTION: "Oliver, why don't you trade #Bitcoin   ?"

ANSWER: "Well, trading #BTC    has been proven to be a losing strategy over the long run. Do you know why? Because 80% of all BTC's gains happen over only 13 days per year.

If you miss just one or two of these days, you're finished as far as being able to beat a simple weekly DCA (dollar-cost-average) buy and hold plan throughout BTC's full four year cycle.

Additionally, once you add the cost of taxes in the form of short-term capital gains, trading fees, and slippage, you've further eroded the possibility of beating a simple DCA buy and hold plan.

I've been a trader for 43 years, 37 of which as a professional. I've done the numbers on this every which way but loose, and I'm telling you this:

I will beat you as a trader with ease every single cycle while puffing on Cuban cigars and sipping on the finest wines of Spain and sleeping like a freshly bathed baby every single night with my DCA buy and hold plan.

I don't trade #Bitcoin because I want to win, not lose. Got it?"

Shout out to Spain 🇪🇸.  I love you!"

THE END
#HODL

Source link

His reply was equally interesting when he saw this tweet


Source

But on the other hand I do agree with what was said because at the end of the day DCA is a bigger winner than trading because as discussed earlier in the tweet "trading btc has been proven to be a losing strategy over the long run" and we have seen many people who were eventually ruined by trading and liquidated so in this case it is important if you really want to be a good investor then adopting the DCA strategy is not the wrong thing.
On the other hand, our discussion from so many pages is not wasted because this is in line with what we will plan and think about in the bitcoin collection scheme as investors.


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September 01, 2023, 05:46:36 PM
Merited by YUriy1991 (1)
 #2771

I'm sure some of them bought on dip and DCA prices, but I'm sure not everyone who says they are actually buying because of the budget constraints they have. Honestly, I really want to stop this nonsense, but let them think for themselves. red4slash, you know that you still need to have an emergency budget to deal with unexpected financial situations, so you don't need to emphasize your desire to invest consistently if you don't have an emergency budget.
If there is no emergency budget, it could be that the investment will fall apart, we humans are in need of the unexpected so understand this, don't ignore that emergency funds are important for your needs, including your family's health costs.
There is a theory that to start investing it must have a reserve fund for the next 6 months so that investment will not be disrupted, the next 6 months can be categorized as an emergency budget while there is still income every month, so investment will be much better when something starts with a mature plan.

This part of your post makes a lot of sense $crypto$; however, I will also add that it would not be absolutely required that a person establishes his/her 6 month emergency fund prior to even getting started in investing.

In other words, you can build your emergency fund while you are investing, and surely getting to 6 months is nice and solid and perhaps not even overkill, even though many people do not even have 2-3 months of an emergency fund.. and many people live pay check to paycheck and surely those people are gambling whenever they invest into anything because they have failed/refused to get their shit together prior to investing, and so any steps in the direction of making progress towards improving your situation is going to make a person a better investor, and we need not let the perfect be the enemy of the good, even if we might continue to attempt to make progress towards improving our practices and working towards making our set up more and more perfect.. and maybe we might not even completely achieve the perfect.. but working towards it little by little is much better than not even thinking about what would be the place that we would like to get to and then to regularly see that we are hopefully making progress in the right direction.

Of course they have different views on how to invest in bitcoin, here we must be able to accumulate bitcoin and that many people want.
Surviving 5 years with bitcoin I think that is enough to take maximum advantage.

This sounds like a pretty weak idea... including "taking maximum advantage" makes it sound as if you believe that you need to cash out of bitcoin.  What the fuck you going to buy with your bitcoin that is better than bitcoin?  Sure you can consume some of it and sure you can diversity in to some other investments, including maybe buying your own personal home, but still there likely are needs (and preferences) to maintain decent amounts of your bitcoin investment at all times rather than thinking about cashing out of it.. but yeah, each person is going to figure out these matters in different ways including once s/he get through BTC accumulation, then maybe what might be a good way of maintaining some decent level of BTC stash in order to ongoingly benefit from having had accumulated bitcoin rather than selling out of your bitcoin and either consuming it and/or investing into inferior assets.

Of course they have different views on how to invest in bitcoin, here we must be able to accumulate bitcoin and that many people want.
Surviving 5 years with bitcoin I think that is enough to take maximum advantage.
True, this is very relevant and makes sense, however, regarding the pattern of investing in BTC using the DCA method if it starts today... I think the waiting period of 5 years might be too long for me personally, maybe for other people.

It is likely not long enough for many people, even though they might think that they have to buy something blah blah blah.. when they likely are going to be way more advantaged by creating and maintaining some kind of a longer term BTC investment plan that does not necessarily involve getting out of BTC, so in that regard, they (including you YUriy1991) likely need to engage in some kinds of thinking regarding how to transition from BTC accumulation into a kind of maintenance stage and then at what point liquidation might come. which the liquidation phase would likely be towards end of life, but the maintenance stage would mean bitcoin is forever not some dumbass short term thing that you cash into dollars or buy property that is not going to likely be as good of places (as compared with bitcoin) to keep much if any of your value.

Yes, I was thinking and this is definitely not a reference as conveyed by brother @2Pizza410000BTC regarding the BTC price target via the GPT caht application because it is possible that the current data has not been completely generated.

Who cares what chatGBTC says or any of those other models? 

you need to think for yourself and you also need to figure out some kind of a plan that prepares yourself psychologically and financially for a variety of scenarios, and nothing wrong with accounting for various models including ChatGBT, but in the end you likely need to formulate your own plans, and sounds like you are having some troubles with that... so you likely need to work on those kinds of preparations.

there is a big possibility that in April 2024, to be precise, the profit can be felt and one more thing I think is the point, for those who have a monthly salary and are already paid, this DCA style investment pattern can already be applied  Grin Grin.

And so you are planning to cash out some in April 2024?..

Whether the price goes up or not by the halvening is likely a big so what.. since it tends to take several months for the effects of the halvening to be felt (meaning the reduction of the new supply of BTC).. so there will be additional UPpity price pressures that likely happen after the halvening.. and they increasingly are felt in the next year or two after the halvening, which may or may not end up contributing to the price of BTC to go up after the halvening, including many months after the halvening.

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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September 01, 2023, 07:21:02 PM
 #2772

When we invested in bitcoin, we are expected to know that the target time we may plan for the release may not work in line to been favourable for us to sell especially when the market dips and we have already targeted a precise month for sell, there are many experience some had been through in this regard, since knowing that bitcoin is not a market we can predict the outcome of the future market value at any certain time, we must only try to hold for as long as we are capacitated enough to endure till we have every reasons to release when the market becomes favourable on us to sell at a good rate.

 
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September 01, 2023, 07:29:40 PM
 #2773

When we invested in bitcoin, we are expected to know that the target time we may plan for the release may not work in line to been favourable for us to sell especially when the market dips and we have already targeted a precise month for sell, there are many experience some had been through in this regard, since knowing that bitcoin is not a market we can predict the outcome of the future market value at any certain time, we must only try to hold for as long as we are capacitated enough to endure till we have every reasons to release when the market becomes favourable on us to sell at a good rate.

Sure there is nothing wrong with having ideas for selling, but that's not the topic of this thread. 

This is not the "all things bitcoin" thread.

It has a specific topic and a specific emphasis.. and so even though the topic is not about DCA, DCA is directly another kind of way to go about accumulating bitcoin which would be part of the reason for buying dips and HODL...

sell is the other direction.. and meandering away from the topic, even though surely people think about those kinds of things when getting into bitcoin, and I specifically recall when I first got into bitcoin I wanted to make sure that I had at least one or two potential off-ramps, even though I was not sure if I was going to end up exercising such off-ramps, it was good to know that they were available.. just in case.

A similar thing could happen when buying and buying and buying.  There could be some points in which we might get uncomfortable in the sense that we might have bought too much (in terms of our own financial and/or psychological circumstances).

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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September 01, 2023, 08:58:35 PM
Merited by JayJuanGee (1)
 #2774

But on the other hand I do agree with what was said because at the end of the day DCA is a bigger winner than trading
It took me being active on this forum to learn this and ever since I knew this, life have become much easier for me. DCA actually eliminate a lot of the challenges people make in their Bitcoin investment like panic buying and selling, fomo, hype, fud and others. With DCA, your emotion is not totally attached and you have more comfort and convenience in your disposition.

"trading btc has been proven to be a losing strategy over the long run" and we have seen many people who were eventually ruined by trading and liquidated so in this case it is important if you really want to be a good investor then adopting the
I am a good example of those who have had terrible experience day trading Bitcoin. One single bad trading day can wipe out  three months of consistent profits. Assuming I started applying DCA to accumulate Bitcoin the time I started day-trading it, I know how many Bitcoin would have been in my wallet by now.

I will never advice anyone, irrespective of the supposed level of experience, to day-trade Bitcoin. It does not always end badly.

R


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September 01, 2023, 09:33:36 PM
 #2775

When we invested in bitcoin, we are expected to know that the target time we may plan for the release may not work in line to been favourable for us to sell especially when the market dips and we have already targeted a precise month for sell, there are many experience some had been through in this regard, since knowing that bitcoin is not a market we can predict the outcome of the future market value at any certain time, we must only try to hold for as long as we are capacitated enough to endure till we have every reasons to release when the market becomes favourable on us to sell at a good rate.

Sure there is nothing wrong with having ideas for selling, but that's not the topic of this thread. 

This is not the "all things bitcoin" thread.

It has a specific topic and a specific emphasis.. and so even though the topic is not about DCA, DCA is directly another kind of way to go about accumulating bitcoin which would be part of the reason for buying dips and HODL...

sell is the other direction.. and meandering away from the topic, even though surely people think about those kinds of things when getting into bitcoin, and I specifically recall when I first got into bitcoin I wanted to make sure that I had at least one or two potential off-ramps, even though I was not sure if I was going to end up exercising such off-ramps, it was good to know that they were available.. just in case.

A similar thing could happen when buying and buying and buying.  There could be some points in which we might get uncomfortable in the sense that we might have bought too much (in terms of our own financial and/or psychological circumstances).

Thank you and i got your points here, when we are investing, it also matter on the pattern we use in accumulating, we should consider holding as more important after which we would have set the target of buying when the market is more favourable to get in, i also got your idea that it's more interesting to concentrate on buying and holding than we could give much priority to selling just as the discussion goes, it's not also about buying alone, but when to buy and hold, we have the right focus on what we are holding to the very best of our advantage althrough the period if we buy low and hold for some time, ofcourse it's a very good idea if the use of DCA is what we could adopt to make this entry each time we are buying.

 
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September 01, 2023, 10:05:13 PM
 #2776

When we invested in bitcoin, we are expected to know that the target time we may plan for the release may not work in line to been favourable for us to sell especially when the market dips and we have already targeted a precise month for sell, there are many experience some had been through in this regard, since knowing that bitcoin is not a market we can predict the outcome of the future market value at any certain time, we must only try to hold for as long as we are capacitated enough to endure till we have every reasons to release when the market becomes favourable on us to sell at a good rate.

Sure there is nothing wrong with having ideas for selling, but that's not the topic of this thread. 

This is not the "all things bitcoin" thread.

It has a specific topic and a specific emphasis.. and so even though the topic is not about DCA, DCA is directly another kind of way to go about accumulating bitcoin which would be part of the reason for buying dips and HODL...

sell is the other direction.. and meandering away from the topic, even though surely people think about those kinds of things when getting into bitcoin, and I specifically recall when I first got into bitcoin I wanted to make sure that I had at least one or two potential off-ramps, even though I was not sure if I was going to end up exercising such off-ramps, it was good to know that they were available.. just in case.

A similar thing could happen when buying and buying and buying.  There could be some points in which we might get uncomfortable in the sense that we might have bought too much (in terms of our own financial and/or psychological circumstances).

Thank you and i got your points here, when we are investing, it also matter on the pattern we use in accumulating, we should consider holding as more important after which we would have set the target of buying when the market is more favourable to get in, i also got your idea that it's more interesting to concentrate on buying and holding than we could give much priority to selling just as the discussion goes, it's not also about buying alone, but when to buy and hold, we have the right focus on what we are holding to the very best of our advantage althrough the period if we buy low and hold for some time, ofcourse it's a very good idea if the use of DCA is what we could adopt to make this entry each time we are buying.

It seems that when the target is long term investing, then there might be a kind of underlying preference in regards to thinking of the underlying asset (in this case bitcoin) as something that you are figuring out how to continue to build, so you do not centrally build by selling, even though you might be able to engage in some kinds of BTC portfolio or size of allocation into BTC management through some small amounts of selling, but that still would not cause you to get too far from the overall sentiment of this kind of a thread which involves considering BTC as ongoingly valuable - because many times people do not really have any clear examples regarding where to put their value, except maybe for temporarily riding the BTC price swings in order to get back into bitcoin, and so even those ideas of trading are contributing towards considerable deviation from the thrust of the this topic too.

I like DCA as amongst the better of methods, if not the best method... except once you start to accumulate more and more BTC, then there may well be some value to engage in more buying on dip practices or lump sum investing practices rather than DCA practices.. s then the questions regarding how much BTC that we might have in compared to other assets that we have as compared to what is our annual salary all likely become relevant in terms of considering where we are at and what kinds of methods that we would like to employ in terms of whether we might still be highly in an accumulation phase or getting more into some kind of a maintenance stage, and further, if we realize that we are looking at 5-10 years down the road for wanting to start spending some of our value, then we might already figure that we are closer down the road as compared with someone who might either not be clear about how many BTC that s/he might need or maybe also whether they  might be considering even longer timelines of 20-30 years down the road... and sure it sounds funny to talk about bitcoin in terms of 15 , 20 or 30 years down the road, when bitcoin is barely just getting into turning 15 years old in January... but maybe even feeling younger than that if we might be considering the extent to which it may have ONLY had monetary value for a bit more than 13 years.

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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September 01, 2023, 10:21:10 PM
Merited by JayJuanGee (1)
 #2777

This discussion always repeats itself because every time I read this thread from the previous few months there is always discussion about the ideal DCA (for some people) and there are already several people who have given their views. You just have to look and read a few pages behind whether some people's views will be the same. suitable or not for you to adapt as a strategy that you carry out in your DCA.
Meanwhile, when you look at financial conditions (income) that are not very stable, actually that might be a reason, but I think when someone is aware of the economy and their income then it is not a problem because of course we already have financial management and we cannot possibly do DCA with the same percentage bigger than the income we earn and save in one month.
That's why many people always discuss investing according to what we can afford because when we DCA it's not just about buying once and then it's done, but we need to take into account whether the money we spend (for the DCA portion) can make it consistent in the future because this is important. so that we know how much we have to budget for purchases in DCA in a day/week/month.

DCA doesn't mean going all in at once and if anyone does that, that person is not DCA in the real sense but have just gambled, because when you talk about DCA approach, it has to do with a long term practice for small investors that want to DCA all the way up and down depending on the market conditions at that time, but more also if any one have big bag and want to buy all in at once, it then left for them but they may not be DCA in the real sense of it.
So the ideal DCA will be buying all the way at every market direction setting aside only 20%-39% of your total monthly income and holding bitcoin and a traded asset that allows you to take advantage of the market at any point, and This also applies to DCA on any coin.

The approach to proper DCA can not be single handly outlined since various market organs also have their own.
What exactly do you want to mean by this because looking at the statement you gave, you actually want to lead to DCA or buying a large amount at once because these are 2 very different strategies.
On the other hand, when we focus on DCA actually if we want consistency I think we don't really care about corrections and prices because we already have an initial determination with DCA consistency according to what we plan so that regardless of how the market upheaval or maybe a bitcoin correction occurs, it doesn't really affect consistency if we seriously want to do DCA.
As well as when saying All in, it's not DCA mate because as I've said before (I thicken) DCA is not just limited to buying bitcoin once after that's done but needs some consideration where you have to have a plan and think about the financial condition whether we can still be consistent to make purchases for a period of time.

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September 02, 2023, 01:38:12 AM
Merited by JayJuanGee (1)
 #2778

Why should you buy and hold Bitcoin?

Points of view:



A group of students from Cambridge University, a famous university in America, published a comparative report on the power consumption of Bitcoin mining and clothes dryers, where the power consumption of clothes dryers m/c in America is more than the amount of power consumption required for bitcoin mining in the whole world.

Drying Clothes Power = 108TWH
World Mining Bitcoin Power= 95.5TWH



"The People's Court of China" published a report on a legal status of virtual currency where they called Bitcoin a legal status for the nation.
The Bitcoin market went into a pump situation when China appreciated on Bitcoin and subsequently found new ATH. So such a positive announcement from China is undoubtedly a pre-signal of the bull market. So those who have not invested in Bitcoin till now get ready to invest in Bitcoin very fast and plan for long term holding.



Long-term investors are at the top (ATH) of Bitcoin's market.

Source:Click

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September 02, 2023, 03:08:56 AM
Merited by JayJuanGee (1)
 #2779

I like DCA as amongst the better of methods, if not the best method... except once you start to accumulate more and more BTC, then there may well be some value to engage in more buying on dip practices or lump sum investing practices rather than DCA practices.. s then the questions regarding how much BTC that we might have in compared to other assets that we have as compared to what is our annual salary all likely become relevant in terms of considering where we are at and what kinds of methods that we would like to employ in terms of whether we might still be highly in an accumulation phase or getting more into some kind of a maintenance stage, and further, if we realize that we are looking at 5-10 years down the road for wanting to start spending some of our value, then we might already figure that we are closer down the road as compared with someone who might either not be clear about how many BTC that s/he might need or maybe also whether they  might be considering even longer timelines of 20-30 years down the road... and sure it sounds funny to talk about bitcoin in terms of 15 , 20 or 30 years down the road, when bitcoin is barely just getting into turning 15 years old in January... but maybe even feeling younger than that if we might be considering the extent to which it may have ONLY had monetary value for a bit more than 13 years.

Your perspective on Dollar cost averaging (DCA) and its suitability for various phases of accumulating and managing Bitcoin holding is quite insightful and we all Bitcoin enthusiasts to consider adopting this strategy to potentially gain huge rewards in future. DCA is indeed popular investment strategy as it helps to mitigate the impact of risk associated with market volatility. However as your holdings of Bitcoin grow and our goals evolve, other strategies such as buying on dips and lump sump buying start to appear more appealing.









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September 02, 2023, 03:39:37 AM
 #2780

And so you are planning to cash out some in April 2024?..

Whether the price goes up or not by the halvening is likely a big so what.. since it tends to take several months for the effects of the halvening to be felt (meaning the reduction of the new supply of BTC).. so there will be additional UPpity price pressures that likely happen after the halvening.. and they increasingly are felt in the next year or two after the halvening, which may or may not end up contributing to the price of BTC to go up after the halvening, including many months after the halvening.

 Cheesy Cheesy. Next year's Bitcoin Halving is going to be an interesting year for investors and everyone knows the rules of engagement. One thing I know at the moment is that demand is the only thing that influences the price increase. BTC needs to be bought to get and increase the price apart from other factors such as investors' concerns about banking. Of course, all those who have invested and kept BTC are also prepared to sell it with profits with various timeframes.

However, what you said is something that is very likely to happen after the halvening and this is my note as well as an additional reference that I have been looking for all this time, Thank You.

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