Buy the DIP, and HODL!

[bitLeap]

why is the DCA concept highly recommended to every bitcoin investor because that way you have full control over the money you make, for example every month you make $1k from the work or business you do and you invest $300 or $400 every month to buy bitcoin, so you still have around 65% of the money you earn left, you can use it for your daily needs and set aside a little for your emergency fund, however, this emergency fund is what you can use later for urgent expenses, so you don't sell Bitcoin that you invested so far.

Actually, it's just our different habits in allocating the amount of money we will use to apply this strategy, but I think it's worth discussing because it can be a consideration for beginners to choose which option to use.
If you prefer to choose to first allocate it to bitcoin investment which is 30-40% every month, I prefer to see how much I spend every month (including emergency funds) after that I can allocate it to buy bitcoin, yes even though the amount is not much different from 30-40%. The reason I do this is because I see my daily needs as what I need to fulfill first.
Again, it's just our different ways, but the goal is the same. There is no problem with that, because the most important thing is our consistency in doing this strategy.

[naira]

why is the DCA concept highly recommended to every bitcoin investor because that way you have full control over the money you make, for example every month you make $1k from the work or business you do and you invest $300 or $400 every month to buy bitcoin, so you still have around 65% of the money you earn left, you can use it for your daily needs and set aside a little for your emergency fund, however, this emergency fund is what you can use later for urgent expenses, so you don't sell Bitcoin that you invested so far.

Actually, it's just our different habits in allocating the amount of money we will use to apply this strategy, but I think it's worth discussing because it can be a consideration for beginners to choose which option to use.
If you prefer to choose to first allocate it to bitcoin investment which is 30-40% every month, I prefer to see how much I spend every month (including emergency funds) after that I can allocate it to buy bitcoin, yes even though the amount is not much different from 30-40%. The reason I do this is because I see my daily needs as what I need to fulfill first.
Again, it's just our different ways, but the goal is the same. There is no problem with that, because the most important thing is our consistency in doing this strategy.

If you have to refer to a certain strategy, especially Bitcoin investment, the rules must be followed. regardless of whether you are ready or not with the finances. The first thing you need to pay attention to is the stability of your income, not how much you spend each month, but whether your income and expenses are really balanced so far? In some countries, an income of around $200-$300 will be divided into various types of needs, both to cover needs and to support subsequent needs. Meanwhile, investments related to a strategy are required to meet the criteria, if we admit that we have taken one of the strategies, either DCA or so on, where the consistency of purchases within a certain time period is outside the basic needs budget. On the other hand, here we are still mixing up needs and investment so that there is an overlap between which one is for investment and which one is for meeting needs. So make sure economic needs are truly met and finances are turned around for investment options according to the strategy chosen.

[Odohu]

back in the day , I tend to believe that Investing in crypo is like gambling but not when i started to understand like how you explained here .
that this is like fruit bearing trees vs Luck .

I will suggest you be specific with the terms so you don't confuse Bitcoin for shitcoins as many people tend to generalize all under the word "cryptocurrency".

While it is easy to loose money in shitcoins, the  chances of loosing money in Bitcoin is very slim especially when you have long term plans. So, it is totally not  perfect lumping every digital assets under crypto for the sake of clarity even such as I have explained.

Certainly, it would be unwise decision, as suggested by @Jay to invest money in Bitcoin (highly volatile and risky asset) that is meant for essential expenses. It can indeed lead to financial trouble. Therefore, the key takeaway is to prioritize financial stability and have well thought out investment plan that doesn't jeopardize immediate needs.

Two things is involved for investment, either you lose or you gain, losing is totally the one you are emphasising that will put you into trouble why gaining will make you to think investment is all about luck and it's based on priority, I don't have much to say in investment of cryptocurrencies and for it's bitcoin because investment in bitcoin is like someone who is in five story building upstairs trying it's luck of jumping out from upstairs of five story building to pick so billion dollars, so making such decisions of jumping from high magnitude,

The reality is that you only loose in Bitcoin when you sell. So, we can say that Bitcoin presents an exception to this rule of investment. Check price history of Bitcoin to see that it has maintain good gains over a period of some years. Conventional long term investments require at least five years to break even and evaluate for profits. Giving Bitcoin this five years interval, Bitcoin have maintained upward trajectory meaning anyone that would have invested in Bitcoin for the past five years would have been in substantial profit.

If Bitcoin follows the market cycle and halving events, we might see a price shift to new highs and this will further demonstrate the superiority of Bitcoin over other investment portfolios. Even though no one can predict the future, there is a possibility we might see price of Bitcoin respect the market cycle.

[junder]

One of
What's the point of HODLing bitcoins? Do you think that if we all hold, the value of the coin will go up? Why do you expect increased demand for Bitcoin in the case of Hodl when there are alternative cryptocurrencies? There is no point in holding money, money has to be in circulation for new products to be created and for services to be done. That's how this world works and functions.

One of the points why people are hodling Bitcoin is because Bitcoin is a solid asset and the price always recovers in value after a decrease. Wealth comes from waiting, people will not like to invest their money on shitcoins and lose their money in the course of waiting through a rug pull or the price of the shitcoin dropping by -90% and not recovering again. People choose to buy Bitcoin and hold it for years because they know that holding Bitcoin's safer than hodling a shitcoin

Yes, that's what I know, Bitcoin has always experienced a high increase even though there are times when it has decreased due to several factors affecting the market, but compared to shitcoin, bitcoin is more likely to be promising with a bullish phase that can always dominate in recent years, just look at how the fate of investors who absolutely do not miss any opportunity related to opportunities in bitcoin. They managed to achieve sufficient or even significant profits.

Your comment completely agrees with Bitcoin dominance history which as can be seen shows Bitcoin dominated from inception until 2017 that is regarded as the birth of altcoins that say Bitcoin dominance dropped to 41%. As expected, from 2017 onward, there have really been a serious back and forth swing on Bitcoin dominance and this can be explained by some people making so much profits from altcoins at some point and others also loosing to altcoins too... a pure case of proliferation of altcoins.

One interesting thing to note is that from 2021 it got saturated after which the odd started tilting towards Bitcoin. Probably people started waking up to reality that Bitcoin is the real deal as many of the shitcoins that promised heaven and earth in terms of used case, scalability and all manners of congestures failed to deliver. Even founders of these the shitcoins would have converted significant portion of their holding to Bitcoin and this explains the steady rise of Bitcoin dominance. 

As of today, Bitcoin is dominating approximately 50% of the market in a market where we have over three thousands altcoins.  This is a pure indication that people are rapidly adopting Bitcoin.

Yes, that's the reality with Bitcoin over time there will be ups and downs in price but what must be remembered is that bictoin is promising that according to me whether according to other people may have different views on bitcoin. However, I believe bitcoin can be profitable someday but it cannot be separated from the risks that exist back to ourselves it all depends on us who run it.

With the increasing dominance of bitcoin, it will certainly be a good thing for all who understand bitcoin. Those who just know or even beginners have not realized that bitcoin will be profitable for their future, even though this is a good investment but in the long run but even though it will take a long time there will be satisfying results.

[Ojima-ojo]

Anyone who uses money that they need for their expenses to "invest" in bitcoin is not investing. 

Instead they are gambling.

When i first got in contact with Bitcoin some few years back, then i hard this money gifted to me by my grand pa and have been in the account for over 3 years since he died, and I decided to buy Bitcoin with that money at the first stage since i am not gona be needing the money for a long time, i even bought more bitcoins after then with my personal money and i dont intend to look back at my bitcoins stashed for God knows how long, but then if the bull run comes i may be forced to DCA some amount up to half of my entire holding may exchange int Dollar.


But if I had invested borrowed money or money that I have urgent needs for, I won't be able to hold it for this long and at that, I may be forced to sell even at a loss, which is nothing different from gambling, and also we have a lot of investors who have such mindset towards Bitcoin but they end up being disappointed since Bitcoin can't perform in any particular other than it own pattern of market movements.

[bestcoins1]

Yes, that's the reality with Bitcoin over time there will be ups and downs in price but what must be remembered is that bictoin is promising that according to me whether according to other people may have different views on bitcoin. However, I believe bitcoin can be profitable someday but it cannot be separated from the risks that exist back to ourselves it all depends on us who run it.

I think many people believe that Bitcoin is very profitable, both for investment and for collecting as the best asset by holding it for the long term. Because your perspective on Bitcoin may not be much different from other people's perspective on Bitcoin, especially for people who have seen how Bitcoin increases through a four-year cycle after the halving. Of course, they will be increasingly convinced that Bitcoin is indeed a very good future asset and also promises more significant profits for everyone.

With the increasing dominance of bitcoin, it will certainly be a good thing for all who understand bitcoin. Those who just know or even beginners have not realized that bitcoin will be profitable for their future, even though this is a good investment but in the long run but even though it will take a long time there will be satisfying results.

Bitcoin has dominated the crypto space for more than ten years and it will continue to do so in a bigger way in the future, so you don't need to worry about that if you are well aware that Bitcoin is good for anyone to own. Now there are many new people who are learning about Bitcoin and then buying it on the market so that there will be more and more Bitcoin users and will continue to increase every year with the desires of each person being very diverse.

[YUriy1991]

Yes, that's the reality with Bitcoin over time there will be ups and downs in price but what must be remembered is that bictoin is promising that according to me whether according to other people may have different views on bitcoin. However, I believe bitcoin can be profitable someday but it cannot be separated from the risks that exist back to ourselves it all depends on us who run it.

I think many people believe that Bitcoin is very profitable, both for investment and for collecting as the best asset by holding it for the long term. Because your perspective on Bitcoin may not be much different from other people's perspective on Bitcoin, especially for people who have seen how Bitcoin increases through a four-year cycle after the halving. Of course, they will be increasingly convinced that Bitcoin is indeed a very good future asset and also promises more significant profits for everyone.

True, some may fall by the wayside, while others dominate the market. but, not for BTC due to the proportion of the global cryptocurrency market represented by Bitcoin. BTC also offers us a new way to store and spend money anonymously without having to attach our names/other personal information to it and without using centralized banks or financial institutions.

[Salahmu]

I think many people believe that Bitcoin is very profitable, both for investment and for collecting as the best asset by holding it for the long term. Because your perspective on Bitcoin may not be much different from other people's perspective on Bitcoin, especially for people who have seen how Bitcoin increases through a four-year cycle after the halving. Of course, they will be increasingly convinced that Bitcoin is indeed a very good future asset and also promises more significant profits for everyone.

Bitcoin has gone way beyond our expectation overtime, is has gone so popular that most people who doesn't even have much knowledge about Bitcoin wants to invest with the plans of holding it for long, although irrespective of how potential Bitcoin is but there would still be people who will speculate bad news about Bitcoin but perhaps everybody most not invest or be a lover of Bitcoin so however is expected that most people will not like Bitcoin.

But however we that understand and believe on the potentials of Bitcoin we shouldn't let this opportunity pass us from accumulating because this is actually the right time to stop assumption and start accumulating Bitcoin as the 2024 approaches for Bitcoin halving because there is a possibility of Bitcoin surpassing the previous ATH so let's keep accumulating because a time will come when we will wish to have bought enough Bitcoin when the price was still this way.

[nara1892]

[edited out]

But honestly it goes back to yourself or themselves, if indeed your finances are not good - fine then maybe you don't need to force to accumulate bitcoin because there is absolutely no compulsion for us to invest, whenever you are ready then you can start, the most important thing is not to sacrifice your life needs such as costs for basic needs and then allocated to bitcoin, your life is more important than anything, and well if you still have a way to be able to improve the situation like that then do it. Start saving from now on and use that money for bitcoin allocations, none other than that also to realize all your dreams in the future, just need to be consistent and patient.

I think that a lot of people should be able to put away $10 per week (or even $100 per week) for years and years and years without really worrying about it - however, some people are still pretty damned poor and they might have to stop their DCA after a year or two, even if their exposure might not seem very large to the rest of us.. for example, a person investing $10 per week would ONLY have $520 invested after 1 year and $1,040 invested after two years,

yet that might be enough of an investment that they might feel that they cannot justify putting more money into BTC.. or maybe they just change their strategy to stop DCA'ing or to cut their DCA to a lower number or to replace or supplement DCA with buying on dips... so there can be quite a few ways to make adjustments to your BTC investment approach, even partially based on having have had built a decently sized position that gives more options but does not necessarily mean that there is a need to go from accumulation phase and straight to liquidation phase without first passing through a kind of maintenance stage.. Each person has to make these kinds of decisions about various transitions and even about how to move from one to another kind of phase with increments and without necessarily feeling that extreme changes need to be taken.

Well maybe I will agree with your assumption, it is quite reasonable to digest especially in terms of adjustments when the situation is really unfavorable or unfavorable, if indeed there are one of them the investment actors got a situation like this then I hope they are not at their wit's end, or that means they can think of finding other alternatives as a solution to the problem... I understand they want to keep the DCA approach to investing that they've always done, if your situation suddenly worsens and makes it difficult for you to continue doing the same DCA then maybe the only adjustment they can make is to follow your approach @jay. This is not the end of your approach to bitcoin investing but maybe just a little problem that I think is quite common in the real world in the lives of everyone including yourself who is experiencing it. They can start from a smaller amount than usual in terms of accumulation to be allocated, that's fine because it's still possible to do, and well keep a serious mindset according to their plan at the beginning, agree with "without worrying too much about it" as you said. Stick to your best plan even if the allocation amount is slightly smaller due to the situation that befell them, the important thing is that you can still remain consistent.

If you continue to do it consistently for at least 4 years then it's quite clear that allocating only $10 / week or month is quite a lot when calculated over the next 4 years, and of course I think you will feel a sense of satisfaction when the time comes. The point is that this is not the end of your investment approach through DCA, because there are still many ways of adjusting that still seem reasonable to do, I hope they can still consider it perfectly when they are in such a position, and also of course to make a decision that they can be sure that it is the most appropriate.   

[Riginac111]

☆☆☆

♡♧♤

Certainly, it would be unwise decision, as suggested by @Jay to invest money in Bitcoin (highly volatile and risky asset) that is meant for essential expenses. It can indeed lead to financial trouble. Therefore, the key takeaway is to prioritize financial stability and have well thought out investment plan that doesn't jeopardize immediate needs.

Two things is involved for investment, either you lose or you gain, losing is totally the one you are emphasising that will put you into trouble why gaining will make you to think investment is all about luck and it's based on priority, I don't have much to say in investment of cryptocurrencies and for it's bitcoin because investment in bitcoin is like someone who is in five story building upstairs trying it's luck of jumping out from upstairs of five story building to pick so billion dollars, so making such decisions of jumping from high magnitude,

The reality is that you only loose in Bitcoin when you sell.[/quote] When you sell bitcoin you don't loss, the only thing is that you may have regret why you sell your bitcoin and maybe immediately you sold your bitcoin the price increased and that is why some do have remorse after rushing to sell out of their coin, and before someone can sell out it's coin maybe they person has meet up with it's target or the person is selling because of bearish season that maybe fast approaching.

So, we can say that Bitcoin presents an exception to this rule of investment. Check price history of Bitcoin to see that it has maintain good gains over a period of some years.

You are saying as if bitcoin price do stands on a constant growth, the market of bitcoin always fluctuates and you may not know the actual year the price will be benefiting or not what we supposed not to depends on bitcoin price and still inform people that bitcoin price has not disappointed.

Conventional long term investments require at least five years to break even and evaluate for profits. Giving Bitcoin this five years interval, Bitcoin have maintained upward trajectory meaning anyone that would have invested in Bitcoin for the past five years would have been in substantial profit.

Some people don't have a duration or don't have a target when investing in bitcoins and that is the issue they have. Even though you are investing for short duration at least you are supposed to have a duration and time frame that you will cash your funds and even though it's a long time duration you have to still have a target, when you have how many years your investment will take up to or last you will not be bothered for bitcoin  falling and bitcoin rising even being panic when the price is getting lower

If Bitcoin follows the market cycle and halving events, we might see a price shift to new highs and this will further demonstrate the superiority of Bitcoin over other investment portfolios. Even though no one can predict the future, there is a possibility we might see price of Bitcoin respect the market cycle.

One thing is that Bitcoin price  is not predictable and the market determine how we will define the price, bitcoin portfolio changes when the price increases and the price increase when new investors come to the market, this is two things that is involve in bitcoin price and the market too, when investors come in to the market bitcoin became promising, what we are asking for, is for bitcoin price to increase

[JoyMarsha]

Anyone who uses money that they need for their expenses to "invest" in bitcoin is not investing. 

Instead they are gambling.

Only people who can afford to risk with money intended for their expenses on bitcoin are those who view it as a get-rich scheme. Someone who is completely knowledgeable about bitcoin won't make that decision since they know what will happen to their investment if they don't intend to hodl it for a long time.

No one can predict the price of Bitcoin tomorrow, therefore anyone investing in it with money intended for their expenses should be prepared to accept whatever losses or profits they receive when the need for their investment in Bitcoin arises. 

[bitterguy28]

back in the day , I tend to believe that Investing in crypo is like gambling but not when i started to understand like how you explained here .
that this is like fruit bearing trees vs Luck .

I will suggest you be specific with the terms so you don't confuse Bitcoin for shitcoins as many people tend to generalize all under the word "cryptocurrency".

While it is easy to loose money in shitcoins, the  chances of loosing money in Bitcoin is very slim especially when you have long term plans. So, it is totally not  perfect lumping every digital assets under crypto for the sake of clarity even such as I have explained.

While you are correct to be specific in term but isn't obvious that we are in bitcoin section thag whe . Mentioned crypto will stand to that specific coin?

And upon reading your whole post you are the one who is confusing the thread for pointing shitcoin.

But anyway thanks for the reminder and i will keep that in mind.

Lets back to the topic of when to buy and when to sell.
Because I only consider selling a little amount of my. Bitcoin when the bull comes because i can carry to wait for another halving or more before considering taking all my coins out .

[JayJuanGee]

Certainly, it would be unwise decision, as suggested by @Jay to invest money in Bitcoin (highly volatile and risky asset) that is meant for essential expenses. It can indeed lead to financial trouble. Therefore, the key takeaway is to prioritize financial stability and have well thought out investment plan that doesn't jeopardize immediate needs.

have Funds in bitcoin (that can completely risk) and have funds for daily needs and for emergency as well , never to combined your for use money to for investing.
People who lose in their investing are those people that wanted an easy money when they don't fully understand how risky crypto investing is.

Understanding the distinction between investing and gambling is vital. Investing is like planting a tree and waiting for it to bear fruit, while gambling is like taking chance for quick wins, relying on luck rather than a long-term strategy.

back in the day , I tend to believe that Investing in crypo is like gambling but not when i started to understand like how you explained here .
that this is like fruit bearing trees vs Luck .

I am pretty sure that I agree with almost everything that you say bitterguy28 if you are talking about bitcoin - and surely you use the term crypto, so then I become confused if you are talking about the same thing since we are not talking about Crypto here in this thread... and therefore I am a bit unclear why you choose to use the word crypto.  Is it necessary?  Does it add anything to what you are saying?  

Surely investing in crypto is likely to be risky as fuck, especially if we might not even know what it is that is being referred to.  I surely wouldn't invest much if anything into crypto.. maybe a few percent of the size of my bitcoin, and I could understand that some people might want to play around with a higher percentage of their bitcoin stash.. but still going any greater than 10% would be difficult to justify absent some kinds of compelling reason about one or more of the shitcoins and then that investment would be particular to that particular one and how it might compare and contrast to bitcoin... but still we are not really talking about those kinds of considerations and calculations in this thread.

Do you think that if you changed your use of the word crypto to bitcoin, then you would be able to say the same thing that you already said, or why would you have felt that you need to bring up crypto when we are talking about bitcoin in this thread?  

Do you think that the same principles apply to crypto as apply to bitcoin?  That is confusing to just think about and surely I have my doubts..

I think it is a distraction, a bit misleading, and potentially gets us off track to be using the word "crypto" without clarifying what it is that you consider that you are talking about and/or making it clear why you chose to use such a word when you might have had really meant to use the word bitcoin, but you wanted to sound smarter, so you used the term "crypto" to suggest that whatever you were saying had broader applications beyond bitcoin.. Is that it?

I made conscious decisions to leave value with both Bitfinex and BTC-e.. .. and there were times in which I changed my mind about how much BTC I was keeping with various third parties, and also coming to find out about how easy sim attacks make people vulnerable .. and they are still going on now... but in 2017, they were less common, but I probably should have realized a bit better regarding the sim swap attack vector.. .. so then if something like that ends up happening, there are ways to change some approaches in order to make funds less vulnerable to that attack vehicle, even though, sometimes, some funds might still be vulnerable through other attack mechanism.

We all make mistakes and put trust in things, in which we should not. I was not aware of the sim swap attack (basically from the term) but it really is scary, that someone could steal your phone number, but I am curious how a scammer would do that because to do that, a scammer would need some basic information. For example, In our country, when we have to change the number of one sim to another sim or to another number, it is compulsory for the real owner of the sim to be present at the franchise, (we cannot do that from home) and there we have to verify our fingerprints and then we are given the new sim with the same or new number (that depends on our need). I don't know how things work on your side, but I would love to know.

I don't want to get into too many details in this thread, and sure there likely are variations from country to country, but also sometimes there could be rogue actors who work for the companies too (at the employee level that end up getting access to such information and they could be part of the problem).

I think that more and more protections have gone into place since early 2017, at the time of my incident, but there are still incidents of sim swaps still happening through various weak points that might exist.. and surely hackers are able to stay up-to-date on some of the latest and greatest of possible vulnerable areas.

Sometimes they might not need very much information because if they get one or two of the passwords to your e-mail, and then they change the e-mail password and then they might log into various websites in which recovery of the password is the e-mail or the phone.. so then once the get a few of these pieces, then they don't need the password, and they can reset password and even sometimes set up things in their own name and surely they have orders to things in terms of which accounts to get first before going after subsequent accounts.  Sometimes people are not even available and realizing that they are being sim swap attacked until the next day because they might not be getting notifications, and surely one of the things that was strange about mine is that it seems that I caught it right away, and so I called up my phone company and they switched it back to me but then it kept switching back to the hacker.. so it wasn't like I wasn't trying to stay on top of things, but surely mistakes end up being made on my end too.. because sometimes there can be false senses of security when getting access back to the phone and/or the e-mails that were used.. but then by the time that the hacker goes through with the attack it seems that there might be multiple persons and/or a team doing a lot of things at once. .and even faster than you might think that they are able to do and questioning if you might shutdown your various bitcoin related accounts before they log into them.

I did search about SIM swap attacks and how we can avoid them, what I found is:

• Use of multi-signature wallet
• hardware wallet
• not making accounts on phone numbers

And talking about other attacks, like hacking attempts i.e., phishing links etc, that's what you are talking about?

There sometimes can be some ways that some data can get leaked and you might not know that they got your password.. to an e-mail or something, and so once they have their foot in the door they might be able to get at other things and reset other things.  Sure there can be ways to use different e-mails for resetting or even using various authenticators and/or UBKey type devices that would make it more difficult for an attacker to get into as many accounts.. and using Sms authentication does tend to be a weak point when hackers get your phone number.

Some losses are BIGGER than others, and frequently there are ways to protect yourself even when taking risks, but one of the things about risks is that we don't always realize some of the risks that we are taking or we assign the wrong values and might end up with losses from which are more difficult to recover... financially and/or psychologically...

You are damn right, we take risk, and we don't even have idea that we are taking one, the best example I am seeing in current time is, many new investors of BTC, are investing in BTC and saying that they will make profit for sure as they think halving is coming and their funds will be doubled or tripled. But what I think is, they are ignoring the risk factor it has. Market's history is so obvious that, anyone would be convinced that market will go up but nobody sees at the risk side. I think they should realize it before it is too late for them.

 Of course, when electing between asset classes, and getting involved in shitcoins, then there is a need to consider both upside and downside rather than just upside potential.. while at the same time, I was not really talking about shitcoins, so the framework could be that as long as you understand that you can lose 100% of your bitcoin investment, then you should be able to invest (or position size) according to that understanding.  In other words, each of us should be prepared for the possibility that bitcoin could go to zero... so if we invest accordingly, we still could end up profiting a lot, even though we were prepared for the possibility that we might not profit.

If you don't use leverage or engage in other crazy ways of investing into bitcoin, then the most you could lose would be 100%... but if you do some of that leveraging and/or gambling with your bitcoin, you could either lose more or just lose it way faster, like several of those folks who were investing into various scams in 2021/2022 and many of them came crashing down (such as Celsius, Voyager, Blockfi, FTX, Terra/Luna, 3AC and maybe even Genesis and GBTC going through some of those uncertainties.. and sure there were some others, too), and some of those guys lost a lot of money, even though bitcoin did not go to zero..  Some of us regular BTC HODLers suffered from the BTC price going down, but then some of it has since recovered.. so we might not feel too bad as long as we continue to hold BTC and also some of us continued to buy BTC when the prices were going down too... or just buying on a regular basis, which should prove to be a decent way to have good potentials for longer term profits (but not guaranteed to accomplish such).

There are a lot of ways that people go through and deal with losses, and surely if all of the value was ONLY in BTC, then there might be more devastation.. but if the person had various other non-btc investments (such as stocks, properties, bonds and cash) that might have had been equal to 20 or 30 BTC at the time that s/he lost the 20 BTC, then there still is a nestegg of value in some other location.. so the loss in terms of half of the BTC portfolio might seem large in the short term, but there are various other reserve assets in other places... so such loss is not totally devastating.. only partially devastating..

You are talking about diversification, and I agree with you on this, I have read about diversification strategy to minimize the risk in making investments and also aware of its perks. I sometimes, think, a person who is in BTC, might not have enough funds to make investments in other types, but what solution I have is, to keep that extra amount in cash, because, like you said those who will have all of their capital and savings in BTC, have to face devastation. So, a person should know the difference between capital and savings and they should at least keep their savings in the form of fiat. What do you think?

At least you should be making sure to monitor your cashflows, and if your expenses are in some kind of a fiat, it is good to make sure that you project out your cashflows for 6 to 24 months.. and account for regular expenses (fluctuations in cashflow that could come from changes in expenses and also changes in income), and also maintaining some kinds of funds in a kind of emergency fund.. which may well be in fiat because that would most likely be how the emergency expenses would get paid if such emergencies were to occur.
 

one of the funny things about bitcoin (or maybe any other greatly appreciating asset, that sometimes very large mistakes can be made, but mostly HODLers/accumulators still can end up making money, even if they might have made less money from their mistakes, they still can end up making money in some kinds of scenarios, as long as they don't get totally reckt, and this case, holding onto half of the BTC was part of the explanation for the devastation not being as bad as it could have had been.

Agreed.

I surely am not of the perspective that anyone should be waiting... but instead if such person does not have an emergency fund in place and does not have very many back up resources, then s/he can still invest into bitcoin, but just take a smaller position size while s/he is working on shoring up various ways to draw from emergency funds.  

Agreed, because many people do wait and totally depends on the investments, they have made in BTC like they think they would become millionaire overnight. The reality is a man has to push harder and break the limits he has set for himself. In simple words, we should not remain in our comfort zone, and should take risks and not depend on that risk only but we should work on other opportunities. Really mate you have an entrepreneurial mindset, like those financial motivators on TikTok (I hope you won't mind TikTok as many people hate when someone compares them with TikTok stars) or on any social media platform. Trying hard to motivate new generations.

Yes, I am sure some of the frameworks that "influencers" use are better than others.. and repackaging of good ideas does seem to happen, whether here or through some of the influencers, and surely whether you are communicating with me or you are considering what any influencer is saying, there are likely some times when you will disagree with parts, but you might not exactly know why right away, but surely the back and forth can create for some kinds of active and interactive learning where you end up learning more because you engaged in some back and forth, some skepticism, some critical thinking and probably overall trying to apply the ideas to your own ideas and/or practices.

so maybe instead of investing $100 per week into bitcoin, you only invest $10 per wee into bitcoin and use the other $90 per week to get your other shit together.. and so maybe it takes you 1-2 years before you can get your shit together sufficiently enough that you can move your weekly investment size up to $100 per week, but in the meantime, you had been investing $10 per week while you were putting in order other aspects of your financial and psychological life.

But there is one more side of this, for example, a person is losing shit, have enough money to feed himself and the family, or whatever other basic needs he has to fill, after that, if that person not able to safe funds or able to safe funds, one thing came up to his/her mind. And that is skepticism, they just don't want to take risk and want to leave that circle that they draw around themselves. I hope you are getting my point here. And this happens due to the doubt, ambiguity and fear in their minds and hearts, they know they might not bear the risk's results.

Yes.. maybe I assumed that once a person has already decided that s/he is getting into bitcoin, then that person is largely considering position size and how to advance from being able to invest $10 per week and getting up to a higher amount, such as $100 per week.. S/he already had the conviction, and surely there are so many people who do not have conviction, and maybe they still might choose to invest $10 per month because of their skepticism...

but if they cannot even bring themselves to do anything , then they will just have to enter bitcoin at some later date, which might be 1-2 years later, or maybe 5-8 years later, or maybe 20 years later, but the person who got started earlier is likely going to be in a much better position than the person who is taking longer to get past his/her skepticism.. and we cannot force the matter, because no coiners/low coiners will come to bitcoin at their own pace, and surely some of them might be rich enough and/or smart enough to make up for their not having had been involved in bitcoin earlier, but surely I have my doubts about the later arriver going to be able to catch up to an equally positioned earlier arriver... of course, no guarantees, so we don't really know for sure.

So, I think that it is better to error on the side of getting started bitcoin sooner rather than later, even if you have various messes in your life that you simultaneously having to actively work upon.

 I think that is probably the main point, and surely people will frequently try to fight ideas of getting into bitcoin and sometimes even have some valid excuses of messes in their finances and/or psychology... but that seems to be mostly a position size situation and also a kind of learn as you go and organize yourself while you are going kind of a situation.. and bitcoin has the potential to help people with their finances and psychology, but it could take 4-10 years or longer to play out before starting to feel the improvements and/or the increased options that come available.. again, not guaranteed.

Sorry to cause so much work upon you.... hahahahaha.....yeah.. sometimes there are no real needs to respond further.

nah, that's actually not that much work for me to read your posts, instead it is kind of good, and while reading and writing to you, I don't keep track of time, and once I finished writing to you then I think, I spend this much time (just to clarify, I actually not spend that much time like hours). Like, now, I am still replying late, but this time the reason was work, and the tiredness of work. But today I was free so I thought I should reply you, it's not that I was not making posts, I was, but to read your replies, I have to be on laptop, because on laptop, it becomes easy to edit the reply.  

I am glad that we got that cleared up, then.

I tend to write the vast majority of my posts on a computer.  It can be a bit difficult to type very much on a mobile device, unless maybe there might be a keyboard or an ability to use reliable diction.

snip

@Jay you have really impacted a lot of knowledge on me which has been helping me on my Bitcoin journey I could remember when I came here with a less knowledge about strategies of accumulation using DCA, with this tread I was able understand and add the knowledge I have gathered from here to my existing ones which has been very helpful.

Referring back to your comments, of course is very unwise to uses the money that's meant for other expenses to invest because he is likely going to get into trouble later on because when the need will arise he will be left with no option but to sell off the investment. Perhaps this could be referred as an ignorant investor whom sees a possibility of getting into trouble if taking a certain decision but still went ahead.

Jay's opinion is the best at the moment to encourage us to invest wisely, because investing without knowledge and also having a target is just a gambling activity.

why is the DCA concept highly recommended to every bitcoin investor because that way you have full control over the money you make, for example every month you make $1k from the work or business you do and you invest $300 or $400 every month to buy bitcoin, so you still have around 65% of the money you earn left, you can use it for your daily needs and set aside a little for your emergency fund, however, this emergency fund is what you can use later for urgent expenses, so you don't sell Bitcoin that you invested so far.

An overwhelming majority of people are not able to invest 30% to 40% of their regular income to buy BTC or even to make any other investment/savings... even though surely there are some who are able to do it and even some who force themselves to do it by cutting their expenses and living very humbly in light of their income.

Many people do not save or invest at all, so getting them up to something like 10% tends to be a BIG improvement in terms of what they had been doing, and surely I am not against the idea of investing more.  I had some times in my life that I was investing close to 40%.. but most of my life I stuck with around 10%.. so situations will vary and people can ONLY do what they are able to do, and sometimes, they might start out small and work up to larger amounts with time and paying a lot of attention to what they are doing which presumptively would be purposefully focusing on increasing their bitcoin holdings/exposure.

With the increasing dominance of bitcoin, it will certainly be a good thing for all who understand bitcoin. Those who just know or even beginners have not realized that bitcoin will be profitable for their future, even though this is a good investment but in the long run but even though it will take a long time there will be satisfying results.

I have a couple of concerns.  

First, I doubt that looking at bitcoin in terms of whether it is dominant or not is a very good and/or helpful way of looking at and/or considering the extent to which bitcoin is a good investment (as compared with other possible investments).

Second, it is a bit sloppy for you to suggest that there is some kind of a guarantee in bitcoin, even though bitcoin has been a good investment and has decently good chances to continue to be a good investment, it is not guaranteed to have "satisfying results."

[Riginac111]

Certainly, it would be unwise decision, as suggested by @Jay to invest money in Bitcoin (highly volatile and risky asset) that is meant for essential expenses. It can indeed lead to financial trouble. Therefore, the key takeaway is to prioritize financial stability and have well thought out investment plan that doesn't jeopardize immediate needs.

have Funds in bitcoin (that can completely risk) and have funds for daily needs and for emergency as well , never to combined your for use money to for investing.
People who lose in their investing are those people that wanted an easy money when they don't fully understand how risky crypto investing is.

Understanding the distinction between investing and gambling is vital. Investing is like planting a tree and waiting for it to bear fruit, while gambling is like taking chance for quick wins, relying on luck rather than a long-term strategy.

back in the day , I tend to believe that Investing in crypo is like gambling but not when i started to understand like how you explained here .
that this is like fruit bearing trees vs Luck .

I am pretty sure that I agree with almost everything that you say bitterguy28 if you are talking about bitcoin - and surely you use the term crypto, so then I become confused if you are talking about the same thing since we are not talking about Crypto here in this thread... and therefore I am a bit unclear why you choose to use the word crypto.  Is it necessary?  Does it add anything to what you are saying?  

Surely investing in crypto is likely to be risky as fuck, especially if we might not even know what it is that is being referred to.  I surely wouldn't invest much if anything into crypto.. maybe a few percent of the size of my bitcoin, and I could understand that some people might want to play around with a higher percentage of their bitcoin stash.. but still going any greater than 10% would be difficult to justify absent some kinds of compelling reason about one or more of the shitcoins and then that investment would be particular to that particular one and how it might compare and contrast to bitcoin... but still we are not really talking about those kinds of considerations and calculations in this thread.

Do you think that if you changed your use of the word crypto to bitcoin, then you would be able to say the same thing that you already said, or why would you have felt that you need to bring up crypto when we are talking about bitcoin in this thread?  

Do you think that the same principles apply to crypto as apply to bitcoin?  That is confusing to just think about and surely I have my doubts..

I think it is a distraction, a bit misleading, and potentially gets us off track to be using the word "crypto" without clarifying what it is that you consider that you are talking about and/or making it clear why you chose to use such a word when you might have had really meant to use the word bitcoin, but you wanted to sound smarter, so you used the term "crypto" to suggest that whatever you were saying had broader applications beyond bitcoin.. Is that it?

It generalises the word, its not specific on the particular terminology to use to make his or her expression to be comprehensive, some time it maybe emotions because some misused this information and usage of language or intonation, bitcoin is a specific option in cryptocurrency and other coins is another branches find in cryptocurrency, whereas in this thread what we are discussing and emphasising on, is a bitcoin and it's investment, its contradictory using cryptocurrency in place of bitcoin I think anyone who is reading the content will not fully understand the gist of the communications using such world.

I made conscious decisions to leave value with both Bitfinex and BTC-e.. .. and there were times in which I changed my mind about how much BTC I was keeping with various third parties, and also coming to find out about how easy sim attacks make people vulnerable .. and they are still going on now... but in 2017, they were less common, but I probably should have realized a bit better regarding the sim swap attack vector.. .. so then if something like that ends up happening, there are ways to change some approaches in order to make funds less vulnerable to that attack vehicle, even though, sometimes, some funds might still be vulnerable through other attack mechanism.

We all make mistakes and put trust in things, in which we should not. I was not aware of the sim swap attack (basically from the term) but it really is scary, that someone could steal your phone number, but I am curious how a scammer would do that because to do that, a scammer would need some basic information. For example, In our country, when we have to change the number of one sim to another sim or to another number, it is compulsory for the real owner of the sim to be present at the franchise, (we cannot do that from home) and there we have to verify our fingerprints and then we are given the new sim with the same or new number (that depends on our need). I don't know how things work on your side, but I would love to know.

I don't want to get into too many details in this thread, and sure there likely are variations from country to country, but also sometimes there could be rogue actors who work for the companies too (at the employee level that end up getting access to such information and they could be part of the problem).

I think that more and more protections have gone into place since early 2017, at the time of my incident, but there are still incidents of sim swaps still happening through various weak points that might exist.. and surely hackers are able to stay up-to-date on some of the latest and greatest of possible vulnerable areas.

Sometimes they might not need very much information because if they get one or two of the passwords to your e-mail, and then they change the e-mail password and then they might log into various websites in which recovery of the password is the e-mail or the phone.. so then once the get a few of these pieces, then they don't need the password, and they can reset password and even sometimes set up things in their own name and surely they have orders to things in terms of which accounts to get first before going after subsequent accounts.  Sometimes people are not even available and realizing that they are being sim swap attacked until the next day because they might not be getting notifications, and surely one of the things that was strange about mine is that it seems that I caught it right away, and so I called up my phone company and they switched it back to me but then it kept switching back to the hacker.. so it wasn't like I wasn't trying to stay on top of things, but surely mistakes end up being made on my end too.. because sometimes there can be false senses of security when getting access back to the phone and/or the e-mails that were used.. but then by the time that the hacker goes through with the attack it seems that there might be multiple persons and/or a team doing a lot of things at once. .and even faster than you might think that they are able to do and questioning if you might shutdown your various bitcoin related accounts before they log into them.

I did search about SIM swap attacks and how we can avoid them, what I found is:

• Use of multi-signature wallet
• hardware wallet
• not making accounts on phone numbers

And talking about other attacks, like hacking attempts i.e., phishing links etc, that's what you are talking about?

There sometimes can be some ways that some data can get leaked and you might not know that they got your password.. to an e-mail or something, and so once they have their foot in the door they might be able to get at other things and reset other things.  Sure there can be ways to use different e-mails for resetting or even using various authenticators and/or UBKey type devices that would make it more difficult for an attacker to get into as many accounts.. and using Sms authentication does tend to be a weak point when hackers get your phone number.

Some losses are BIGGER than others, and frequently there are ways to protect yourself even when taking risks, but one of the things about risks is that we don't always realize some of the risks that we are taking or we assign the wrong values and might end up with losses from which are more difficult to recover... financially and/or psychologically...

You are damn right, we take risk, and we don't even have idea that we are taking one, the best example I am seeing in current time is, many new investors of BTC, are investing in BTC and saying that they will make profit for sure as they think halving is coming and their funds will be doubled or tripled. But what I think is, they are ignoring the risk factor it has. Market's history is so obvious that, anyone would be convinced that market will go up but nobody sees at the risk side. I think they should realize it before it is too late for them.

Of course, when electing between asset classes, and getting involved in shitcoins, then there is a need to consider both upside and downside rather than just upside potential.. while at the same time, I was not really talking about shitcoins, so the framework could be that as long as you understand that you can lose 100% of your bitcoin investment, then you should be able to invest (or position size) according to that understanding.  In other words, each of us should be prepared for the possibility that bitcoin could go to zero... so if we invest accordingly, we still could end up profiting a lot, even though we were prepared for the possibility that we might not profit.

If you don't use leverage or engage in other crazy ways of investing into bitcoin, then the most you could lose would be 100%... but if you do some of that leveraging and/or gambling with your bitcoin, you could either lose more or just lose it way faster, like several of those folks who were investing into various scams in 2021/2022 and many of them came crashing down (such as Celsius, Voyager, Blockfi, FTX, Terra/Luna, 3AC and maybe even Genesis and GBTC going through some of those uncertainties.. and sure there were some others, too), and some of those guys lost a lot of money, even though bitcoin did not go to zero..  Some of us regular BTC HODLers suffered from the BTC price going down, but then some of it has since recovered.. so we might not feel too bad as long as we continue to hold BTC and also some of us continued to buy BTC when the prices were going down too... or just buying on a regular basis, which should prove to be a decent way to have good potentials for longer term profits (but not guaranteed to accomplish such).

There are a lot of ways that people go through and deal with losses, and surely if all of the value was ONLY in BTC, then there might be more devastation.. but if the person had various other non-btc investments (such as stocks, properties, bonds and cash) that might have had been equal to 20 or 30 BTC at the time that s/he lost the 20 BTC, then there still is a nestegg of value in some other location.. so the loss in terms of half of the BTC portfolio might seem large in the short term, but there are various other reserve assets in other places... so such loss is not totally devastating.. only partially devastating..

You are talking about diversification, and I agree with you on this, I have read about diversification strategy to minimize the risk in making investments and also aware of its perks. I sometimes, think, a person who is in BTC, might not have enough funds to make investments in other types, but what solution I have is, to keep that extra amount in cash, because, like you said those who will have all of their capital and savings in BTC, have to face devastation. So, a person should know the difference between capital and savings and they should at least keep their savings in the form of fiat. What do you think?

At least you should be making sure to monitor your cashflows, and if your expenses are in some kind of a fiat, it is good to make sure that you project out your cashflows for 6 to 24 months.. and account for regular expenses (fluctuations in cashflow that could come from changes in expenses and also changes in income), and also maintaining some kinds of funds in a kind of emergency fund.. which may well be in fiat because that would most likely be how the emergency expenses would get paid if such emergencies were to occu r.
 

one of the funny things about bitcoin (or maybe any other greatly appreciating asset, that sometimes very large mistakes can be made, but mostly HODLers/accumulators still can end up making money, even if they might have made less money from their mistakes, they still can end up making money in some kinds of scenarios, as long as they don't get totally reckt, and this case, holding onto half of the BTC was part of the explanation for the devastation not being as bad as it could have had been.

Agreed.

I surely am not of the perspective that anyone should be waiting... but instead if such person does not have an emergency fund in place and does not have very many back up resources, then s/he can still invest into bitcoin, but just take a smaller position size while s/he is working on shoring up various ways to draw from emergency funds.  

Agreed, because many people do wait and totally depends on the investments, they have made in BTC like they think they would become millionaire overnight. The reality is a man has to push harder and break the limits he has set for himself. In simple words, we should not remain in our comfort zone, and should take risks and not depend on that risk only but we should work on other opportunities. Really mate you have an entrepreneurial mindset, like those financial motivators on TikTok (I hope you won't mind TikTok as many people hate when someone compares them with TikTok stars) or on any social media platform. Trying hard to motivate new generations.

Yes, I am sure some of the frameworks that "influencers" use are better than others.. and repackaging of good ideas does seem to happen, whether here or through some of the influencers, and surely whether you are communicating with me or you are considering what any influencer is saying, there are likely some times when you will disagree with parts, but you might not exactly know why right away, but surely the back and forth can create for some kinds of active and interactive learning where you end up learning more because you engaged in some back and forth, some skepticism, some critical thinking and probably overall trying to apply the ideas to your own ideas and/or practices.

so maybe instead of investing $100 per week into bitcoin, you only invest $10 per wee into bitcoin and use the other $90 per week to get your other shit together.. and so maybe it takes you 1-2 years before you can get your shit together sufficiently enough that you can move your weekly investment size up to $100 per week, but in the meantime, you had been investing $10 per week while you were putting in order other aspects of your financial and psychological life.

But there is one more side of this, for example, a person is losing shit, have enough money to feed himself and the family, or whatever other basic needs he has to fill, after that, if that person not able to safe funds or able to safe funds, one thing came up to his/her mind. And that is skepticism, they just don't want to take risk and want to leave that circle that they draw around themselves. I hope you are getting my point here. And this happens due to the doubt, ambiguity and fear in their minds and hearts, they know they might not bear the risk's results.

Yes..

maybe I assumed that once a person has already decided that s/he is getting into bitcoin, then that person is largely considering position size and how to advance from being able to invest $10 per week and getting up to a higher amount, such as $100 per week.. S/he already had the conviction, and surely there are so many people who do not have conviction, and maybe they still might choose to invest $10 per month because of their skepticism...

The thing is that some people get very wrong investing in bitcoin and when they are investing in bitcoin they doesn't consider the disadvantages of bitcoin what they concentrate on is only in the advantages of bitcoin, investing in bitcoin does not necessarily guarantee you being the investor you will multiple your capital twice or triple times, some challenges is involve in investing in bitcoin which might hit you the investor at neck and all your expectations will crumble..for weekly and getting a reasonable amount of profit it depends on how is the market conditions and specific amount the investor invested that will yield the profit, the larger the value of bitcoin invested the larger the profit  gain

Second, it is a bit sloppy for you to suggest that there is some kind of a guarantee in bitcoin, even though bitcoin has been a good investment and has decently good chances to continue to be a good investment, it is not guaranteed to have "satisfying results."

Bitcoin is a good investment when you have catch up with the scenario of bitcoin and particularly when you have the investment plan in your diary, but it's well know that you can not depend or trust on bitcoin investment hundred 💯  that it will guarantee you success every time, some people do invest in bitcoin because of primary information they obtain elsewhere without verification and research properly about it, and they do think that is the shortest way of making wealth or getting rich, whereas in bitcoin investment their no much assurance that we shall depend on the investment of Bitcoin.

Only people who can afford to risk with money intended for their expenses on bitcoin are those who view it as a get-rich scheme. Someone who is completely knowledgeable about bitcoin won't make that decision since they know what will happen to their investment if they don't intend to hodl it for a long time.

the risk involve in bitcoin investment is for personal decision and some times their is something we suppose to consider in bitcoin, taking the risk of it is when you decide to invest with your spare money not when you invest with your savings, so when you invest with your spare money the investment can stay as long as you wanted and it's the time you liable to make profit, before I joined bitcointalk.org I have been investing in bitcoin for long and I do invest for long term not short term.

No one can predict the price of Bitcoin tomorrow, therefore anyone investing in it with money intended for their expenses should be prepared to accept whatever losses or profits they receive when the need for their investment in Bitcoin arises.

Yes, no body can predict accurately of bitcoin but sometimes when you don't listen to predictors that gives fake information about when bitcoin is increasing and when is not increasing and face your chart and study it very well, you can be approximately on the positive side of bitcoin during the predictions.

While you are correct to be specific in term but isn't obvious that we are in bitcoin section thag whe . Mentioned crypto will stand to that specific coin?

And upon reading your whole post you are the one who is confusing the thread for pointing shitcoin.

basically what we are pointing out is here is a bitcoin, and pointing any other coins you have to be specific, as you said that is the one that is contradictory everything here, I think that you are right..even Jay said that we are not making reference of cryptocurrency what we are discussing is directly bitcoin and mostly selling and holding. Even though someone want to mention any other coins I think that the coin name have to be mentioned not by generalising it with shitcoin, so from my understanding is not quite understood

[Popkon6]

One of
What's the point of HODLing bitcoins? Do you think that if we all hold, the value of the coin will go up? Why do you expect increased demand for Bitcoin in the case of Hodl when there are alternative cryptocurrencies? There is no point in holding money, money has to be in circulation for new products to be created and for services to be done. That's how this world works and functions.

One of the points why people are hodling Bitcoin is because Bitcoin is a solid asset and the price always recovers in value after a decrease. Wealth comes from waiting, people will not like to invest their money on shitcoins and lose their money in the course of waiting through a rug pull or the price of the shitcoin dropping by -90% and not recovering again. People choose to buy Bitcoin and hold it for years because they know that holding Bitcoin's safer than hodling a shitcoin

Yes, that's what I know, Bitcoin has always experienced a high increase even though there are times when it has decreased due to several factors affecting the market, but compared to shitcoin, bitcoin is more likely to be promising with a bullish phase that can always dominate in recent years, just look at how the fate of investors who absolutely do not miss any opportunity related to opportunities in bitcoin. They managed to achieve sufficient or even significant profits.

Your comment completely agrees with Bitcoin dominance history which as can be seen shows Bitcoin dominated from inception until 2017 that is regarded as the birth of altcoins that say Bitcoin dominance dropped to 41%. As expected, from 2017 onward, there have really been a serious back and forth swing on Bitcoin dominance and this can be explained by some people making so much profits from altcoins at some point and others also loosing to altcoins too... a pure case of proliferation of altcoins.

One interesting thing to note is that from 2021 it got saturated after which the odd started tilting towards Bitcoin. Probably people started waking up to reality that Bitcoin is the real deal as many of the shitcoins that promised heaven and earth in terms of used case, scalability and all manners of congestures failed to deliver. Even founders of these the shitcoins would have converted significant portion of their holding to Bitcoin and this explains the steady rise of Bitcoin dominance. 

As of today, Bitcoin is dominating approximately 50% of the market in a market where we have over three thousands altcoins.  This is a pure indication that people are rapidly adopting Bitcoin.

Yes, that's the reality with Bitcoin over time there will be ups and downs in price but what must be remembered is that bictoin is promising that according to me whether according to other people may have different views on bitcoin. However, I believe bitcoin can be profitable someday but it cannot be separated from the risks that exist back to ourselves it all depends on us who run it.

With the increasing dominance of bitcoin, it will certainly be a good thing for all who understand bitcoin. Those who just know or even beginners have not realized that bitcoin will be profitable for their future, even though this is a good investment but in the long run but even though it will take a long time there will be satisfying results.

The current Bitcoin price is very much within range as this position will definitely increase. Because newbies never realize the growth of Bitcoin (those who do understand) and 2021 is the real proof of Bitcoin. Because the price of Bitcoin is going to the highest level and surely in the end of 2024 or in 2025 the price of Bitcoin will realize the highest level again. So I think if the current investment is left for a long time then one can definitely expect satisfactory results. Because many people have been profitable using the DCA method, and it is true that the DCA method is definitely profitable if invested for a long time.

[Ziskinberg]

The current Bitcoin price is very much within range as this position will definitely increase. Because newbies never realize the growth of Bitcoin (those who do understand) and 2021 is the real proof of Bitcoin. Because the price of Bitcoin is going to the highest level and surely in the end of 2024 or in 2025 the price of Bitcoin will realize the highest level again. So I think if the current investment is left for a long time then one can definitely expect satisfactory results. Because many people have been profitable using the DCA method, and it is true that the DCA method is definitely profitable if invested for a long time.

Newbies not being aware of the current market status can actually be a good thing because eventually, they'll enter the market when the bull run is already happening, and that's when they'll experience FOMO. Regardless, it will have a positive impact on the market as everyone can benefit, especially those who have been accumulating Bitcoin before the bull run. They'll easily see great profits.

On the other hand, there's still a chance for Bitcoin investors during the bull run. Most likely, once the bull run happens, we can expect a new All-Time High to be achieved. Based on the previous bull run, Bitcoin can reach a significantly high price, resulting in larger profits. We don't know how long the bull run will last, but as long as investors are caught up in the hype, it might persist for a while, continuously pushing the price higher. I won't predict its limit, but I believe $100,000 might be too modest for the next ATH.

[Litzki1990]

Anyone who uses money that they need for their expenses to "invest" in bitcoin is not investing. 

Instead they are gambling.

When i first got in contact with Bitcoin some few years back, then i hard this money gifted to me by my grand pa and have been in the account for over 3 years since he died, and I decided to buy Bitcoin with that money at the first stage since i am not gona be needing the money for a long time, i even bought more bitcoins after then with my personal money and i dont intend to look back at my bitcoins stashed for God knows how long, but then if the bull run comes i may be forced to DCA some amount up to half of my entire holding may exchange int Dollar.


But if I had invested borrowed money or money that I have urgent needs for, I won't be able to hold it for this long and at that, I may be forced to sell even at a loss, which is nothing different from gambling, and also we have a lot of investors who have such mindset towards Bitcoin but they end up being disappointed since Bitcoin can't perform in any particular other than it own pattern of market movements.

Everyone has some great stories to do with Bitcoin. I have already read many posts related to this and reading these posts makes me feel more fortunate that I am a proud member of this forum and I am a bitcoin investor. 

I had no idea about investing when I first came to know about Bitcoin. I tried to learn about investing in different ways and kept on exploring Bitcoin until one stage I developed a lot of love for Bitcoin and since then my interest in Bitcoin investment increased and every moment I thought when I will have Bitcoin investment. If a person has a specific target and if he works tirelessly then surely that person is able to fulfill his target. 
Investing in Bitcoin was a goal of mine and I worked hard to fulfill that goal and started my Bitcoin recruiting journey with a small investment at first. Later I tried to learn more about investing and to gain practical experience I tried to invest in Bitcoin regularly and I held those investments for a long time. 
I have held the first position bitcoin investment for a long time and at one point I sold my first investment and later I invested again in bitcoin which I have held till now and I will hold my investment for long term in the future. By investing and holding that investment, I have come to understand that the longer I invest in Bitcoin, the higher my chances of profit will increase.

[MusaPk]

Jay's opinion is the best at the moment to encourage us to invest wisely, because investing without knowledge and also having a target is just a gambling activity.

why is the DCA concept highly recommended to every bitcoin investor because that way you have full control over the money you make, for example every month you make $1k from the work or business you do and you invest $300 or $400 every month to buy bitcoin, so you still have around 65% of the money you earn left, you can use it for your daily needs and set aside a little for your emergency fund, however, this emergency fund is what you can use later for urgent expenses, so you don't sell Bitcoin that you invested so far.

Here is Bitcoin DCA calculator https://dcabtc.com/ that tells how much you will earn if you accumulate Bitcoin in DCA manner for specific period of time. For instance, if we invest 10$ in bitcoin on weekly basis for last one year then after one year we will get 6.52% profit. While investing 10 dollars in bitcoin on weekly basis for last 2 years will give you -11.15 loss.
Based on this calculations one can figure out how effective DCA can be. May be we can add some other strategy with DCA to lessen the risk involved. DCA will be more effective if you buy during DIP and there is BULL run after you accumulate majority of your Bitcoins.

[hyudien]

have Funds in bitcoin (that can completely risk) and have funds for daily needs and for emergency as well , never to combined your for use money to for investing.
People who lose in their investing are those people that wanted an easy money when they don't fully understand how risky crypto investing is.

Understanding the distinction between investing and gambling is vital. Investing is like planting a tree and waiting for it to bear fruit, while gambling is like taking chance for quick wins, relying on luck rather than a long-term strategy.

back in the day , I tend to believe that Investing in crypo is like gambling but not when i started to understand like how you explained here .
that this is like fruit bearing trees vs Luck .

I think it is a distraction, a bit misleading, and potentially gets us off track to be using the word "crypto" without clarifying what it is that you consider that you are talking about and/or making it clear why you chose to use such a word when you might have had really meant to use the word bitcoin, but you wanted to sound smarter, so you used the term "crypto" to suggest that whatever you were saying had broader applications beyond bitcoin.. Is that it?

@bitterguy28, I think the input Jay gave will be very important for you. So that in the future you will be able to differentiate between the terms Crypto and Bitcoin because this mistake will put you in doubt about the true meaning. Crypto has a million different types of contrasts with the purpose of Bitcoin, therefore it is important to note that word placement plays an important role in describing what you want to convey in this thread.

With the increasing dominance of bitcoin, it will certainly be a good thing for all who understand bitcoin. Those who just know or even beginners have not realized that bitcoin will be profitable for their future, even though this is a good investment but in the long run but even though it will take a long time there will be satisfying results.

I have a couple of concerns.  

First, I doubt that looking at bitcoin in terms of whether it is dominant or not is a very good and/or helpful way of looking at and/or considering the extent to which bitcoin is a good investment (as compared with other possible investments).

Second, it is a bit sloppy for you to suggest that there is some kind of a guarantee in bitcoin, even though bitcoin has been a good investment and has decently good chances to continue to be a good investment, it is not guaranteed to have "satisfying results."

In this context, it needs to be looked at more deeply considering that many beginners who fall in love with Bitcoin investment no longer see the risks. Even though this is considered normal, I have also experienced conditions like that so that I put all my funds into it without having any calculations in investing. In essence, even though Bitcoin has indeed become quite promising and proven, as an investment asset, those of us who see it as an opportunity must still uphold investment principles and remain realistic. Investing in Bitcoin will not have a positive impact if the person does not learn the basics such as the main purpose of Bitcoin. For me personally, the most important foundation is to fully understand what we have for the long term. Because if funds are involved, it means you can't just follow trends.

[Winterfrost]

Investing in Bitcoin will not have a positive impact if the person does not learn the basics such as the main purpose of Bitcoin.

I agree on the fact that there are significant reasons why you need to learn some basics of investment before investing in Bitcoin. Because it is important to holding on during the dips when everyone else is panicking.

why is the DCA concept highly recommended to every bitcoin investor because that way you have full control over the money you make, for example every month you make $1k from the work or business you do and you invest $300 or $400 every month to buy bitcoin, so you still have around 65% of the money you earn left, you can use it for your daily needs and set aside a little for your emergency fund, however, this emergency fund is what you can use later for urgent expenses, so you don't sell Bitcoin that you invested so far.

Actually, it's just our different habits in allocating the amount of money we will use to apply this strategy, but I think it's worth discussing because it can be a consideration for beginners to choose which option to use.
If you prefer to choose to first allocate it to bitcoin investment which is 30-40% every month, I prefer to see how much I spend every month (including emergency funds) after that I can allocate it to buy bitcoin, yes even though the amount is not much different from 30-40%. The reason I do this is because I see my daily needs as what I need to fulfill first.
Again, it's just our different ways, but the goal is the same. There is no problem with that, because the most important thing is our consistency in doing this strategy.

Yes your right, its good to hear everyone's opinion, but listen to no one. In some articles i read its best you always draw your own conclusion especially when their opinions contradict yours. For me I choose to allocate 20% weekly to emergency fund and 20% to my investment just by Dcaing, I know its not such of a good amount though but its has helped me accumulate some amount of Bitcoin.

Not every time I do agree with strangers or so-called bitcoin investment experts. At the end of the day the only person who understands your investing decisions either to hold, sell during the two sides of the market level is yours especially when you see others panicking. But if you decide to listen to other opinion its not a bad idea but it should be for the best.