Buy the DIP, and HODL!

[Rustam Meraj]

There are some properties that are liabilities instead of an asset. When someone has a property that is a liability and the person choose to dispose the property and invest the money in bitcoin, I don't think there is a problem with that. Not really that the person is jobless or don't have any means of steady flow of income. Some people dispose their assets which are seen as liability and use the money for a lump sum buy in bitcoin.

Bitcoin is an asset which needs your holding powers. If you will hold it and wait. So this will give a big surprise. But making it as a source of income this is not a good decision by the way. First make a passive income source which will feed family and then invest in Bitcoin. Means I want to say that if you will be mentally relaxed so you will invest in Bitcoin and can hold for a long time.
It is my point of view other may disagree. I just share my point of view.

[1715662692]

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[1715662692]

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[Tmoonz]

Maybe some people still don't understand some of the pressures that have been said previously for this reason, so there are still people who immediately rush to invest in Bitcoin with only minimal capital and their own intentions and determination without considering emergency funds for themselves in life. Because logically, emergency funds are needed to be able to maintain the Bitcoin that we have previously purchased so that the amount of Bitcoin that has been saved will not be disturbed by bad things in real life.

So this needs to be well understood by everyone who wants to store Bitcoin more comfortably by implementing purchases in several stages or by implementing DCA as has been done by many people at this time. In my opinion, Buy the Dip, and Hodl can be done by everyone by making stages or by DCA as long as everyone has prepared emergency funds so as not to disrupt the previously determined Bitcoin purchase plan within a certain time.

Though it has been discussed here severally that emergency funds should the number plan of an investor so that his Bitcoin portfolio will not be tampered from time to time, but I want you to understand that if an investor is waiting for huge of emergency fund he won't be able to invest in Bitcoin.
I think the remedy to this is that, the investor should set his plans with the available fund, keep the emergency fund aside and do the needful with the remaining fund because, there suitable strategy for everyone here, that's why it has been said that invest with the amount within your reach and as your income keep increase, you accumulate more.
An existing or incoming investor that experienced the dip period should buy but am against waiting for the dip itself because it might t favor you as you calculated.

Your statement is very correct because if an individual want everything to be so perfect before they invest, they will most likely not invest. In economics,  we were thought that human needs are insatiable. This means the more you try to satisfy your needs the more new things comes up. Besides, technology and innovation is improving a lot of things so every now and then new and better things comes up. This is the reason some people change their phone as soon as new model is launched like in the case of iPhone.

To be able to invest in Bitcoin, we must know where to draw the line between what is most important and what is not. There should be some level of discipline we must imbibe for the greater good. For instance, if I already have a phone that is fine and can do main thing I need a phone for, no need of changing it to a higher version that can also do the same thing when I can simply use the money and buy Bitcoin. Such a phone is not a basic need,  so it can wait and that craving will just be one of the sacrifices I have to pay to be able to invest in Bitcoin and secure my future.

So it is important to identify the basic needs, set some funds aside for them, keep some for emergency and then one can start investing in Bitcoin. Other things can be varied and must not be done so one can actually build for the future.

Same thing can also be said for those who are using bigger or more than one gadgets but don't have any investment in bitcoin. When you ask them why they don't own a bitcoin they will say I don't have money to invest but, I will invest when money comes. Why wait for when money will come when you can dispose one of the phones. For instance someone using iPhone 14 or 15 with a Samsung phone and is still waiting for money to invest in bitcoin. Such a person can sell one of the phones and use the money realized and invest in bitcoin. He/she will still have one phone left and his life won't be negatively affected and he has also started his bitcoin journey. When more money comes in he can keep buying more. Instead waiting such person has taken action in the right direction.

for most persons saying they don't have money to invest in bitcoin the reason could be that they don't know it doesn't take a thousands of dollars to invest in bitcoin, yes am saying this because many do not know that a single Bitcoin is made up of 100 million smaller units know as satoshi of which they can possibly buy a fraction of it.

On the other hand most person have made a mistake of starting there Bitcoin journey without having a source of income flow, selling a gadget, electronics or whatever to start a bitcoin investment is not just enough, it has been discussed severally in this thread that having a source of income flow and a provisional reserved and emergency funds is paramount after meeting up our basic needs.
And that is the only way you can be successful in your bitcoin accumulation journey unless selling of your property or properties is to start or add up to your existing business which will be giving you steady income flow. If is on the part of starting a new business, the money sold from your property should be divided in to three where one part will be use for your up keep, the second part for business and the part for your Bitcoin investment, if in the case of an existing business the money sold from your property should also be shared in to three one allocated to your business for full back up the other for personal needs and lastly for your Bitcoin investment through your DCA strategy which could be weekly or monthly, I think this is the best way to go about it because you now have a backup for both your personal needs, your business and your Bitcoin investment.

There are some properties that are liabilities instead of an asset. When someone has a property that is a liability and the person choose to dispose the property and invest the money in bitcoin, I don't think there is a problem with that. Not really that the person is jobless or don't have any means of steady flow of income. Some people dispose their assets which are seen as liability and use the money for a lump sum buy in bitcoin.

Thou you have rightly said but on the contrary the focal point should be based on the measures of wellbeing and fulfilments, the choice of strategy is totally dependant on individual on which should be more comfortable with either lump sump or DCA which seems to be more a conservative approach, you can see how it dominates the discussion here because it mitigates the risk tolerance and don't forget that the attention is drawn from individual who totally do not have any Bitcoin portfolios going on. Every newbie to Bitcoin journey is adviced to start a bitcoin investment with the DCA strategy and lump sump whhen there is a dip in the market. What is shared here is advice.

[justinlamode]

Same thing can also be said for those who are using bigger or more than one gadgets but don't have any investment in bitcoin. When you ask them why they don't own a bitcoin they will say I don't have money to invest but, I will invest when money comes. Why wait for when money will come when you can dispose one of the phones. For instance someone using iPhone 14 or 15 with a Samsung phone and is still waiting for money to invest in bitcoin. Such a person can sell one of the phones and use the money realized and invest in bitcoin. He/she will still have one phone left and his life won't be negatively affected and he has also started his bitcoin journey. When more money comes in he can keep buying more. Instead waiting such person has taken action in the right direction.

I don't know why people do that but I have seen a lot of them probably just to show off and impress people who in reality are not even looking at them. Societal pressure have made some people lose their senses and it is quiet unfortunately. If I knew what I now know in my few months of being active in this forum, I know where I would have been with my Bitcoin investment because most of the money that entered my hands were spent on things I do not even remember.

Then I could have comfortable be doing $10 weekly DCA and by now it would have amounted to something significant. Well, I'm glad to be started the journey now, I believe it is not yet late to build a Bitcoin asset. I just have to discipline myself to follow all the rules to successful investment and holding of Bitcoin and see what the future have for me.

[Tmoonz]

If there is no different funding then Bitcoin will be held off for a long period of time.

If there is no emergency funds available there is no way you can hold your bitcoin for a long time. That's it has been emphasized several times that for you to hold bitcoin for long as an investor make room for emergency funds.

Maybe some people still don't understand some of the pressures that have been said previously for this reason, so there are still people who immediately rush to invest in Bitcoin with only minimal capital and their own intentions and determination without considering emergency funds for themselves in life. Because logically, emergency funds are needed to be able to maintain the Bitcoin that we have previously purchased so that the amount of Bitcoin that has been saved will not be disturbed by bad things in real life.

So this needs to be well understood by everyone who wants to store Bitcoin more comfortably by implementing purchases in several stages or by implementing DCA as has been done by many people at this time. In my opinion, Buy the Dip, and Hodl can be done by everyone by making stages or by DCA as long as everyone has prepared emergency funds so as not to disrupt the previously determined Bitcoin purchase plan within a certain time.

Though it has been discussed here severally that emergency funds should the number plan of an investor so that his Bitcoin portfolio will not be tampered from time to time, but I want you to understand that if an investor is waiting for huge of emergency fund he won't be able to invest in Bitcoin.
I think the remedy to this is that, the investor should set his plans with the available fund, keep the emergency fund aside and do the needful with the remaining fund because, there suitable strategy for everyone here, that's why it has been said that invest with the amount within your reach and as your income keep increase, you accumulate more.
An existing or incoming investor that experienced the dip period should buy but am against waiting for the dip itself because it might t favor you as you calculated.

Bitcoin investment is something we should not be in a hurry to start if we don't have a source of income. If you use the available fund to start your bitcoin accumulation journey without any source of income, you will tamper with your bitcoin holdings to survive when the available fund has run out. Do not allow FOMO to make you accumulate bitcoin when you have no source of income. Before you accumulate your bitcoin, make sure you have a place where you are getting money weekly or monthly to enable you to keep an emergency fund that you will use to settle your financial needs so that you can accumulate your bitcoin without depending on your bitcoin holdings to take care of your financial challenges.

For the fact that market is volatile we should plan each action we want to take since if we rush all things since we got FOMO on certain situation then provably we will fail by the time we acquire our bitcoin since provably we can face something negative especially if market declines and for sure we don't want to see that.

That's why its really better to widen up our knowledge first and learn each strategy mentioned by a lot of people for us to try so that we can develop something that can possible help us regarding on what path we are going to take. And once we experience a lot of things here especially on our trades for sure at that time we will not get bothered about market events and we will be in focus on the timeline we set or either we want to trade using DCA or strategy or we don't give a shit on anything and all we want is to hold.

Volatility is inevitable for any growing new asst like Bitcoin  but is mainly a problem for short term investors know as traders because long term investment does not requires you looking at the market price of Bitcoin regularly. For instance, if I start my bitcoin investment today and plan of hold for 7years or more I will not be bordered when price drops especially when am using my stable process of DCA strategy.

For those worried about the volatility nature of bitcoin the DCA strategy is highly recommended as the advantages are too enormous that is why it is all over this thread.

Volatility shouldn't affect our mentality because a smart investor  will only take advantage of it by buying more at dip.

[Obim34]

There are many types of plans to invest in Bitcoin, but it is not possible to make such a plan because a person will never sell and invest the things he likes. No one wants to sell favorite thing, but we know iphone is every person's dream and favorite thing, so they invest a lot to buy this thing just hoping for money. If you have an iphone or samsung mobile then you never think of investing by selling them, instead you make another plan and go for money to invest in bitcoins. If you save but have no money then you can invest from there but if you sell a phone, and you invest then you will definitely need another phone then you will not have money. But if you want to invest Bitcoin then you must first work hard and earn your money then invest it will be able to bring you maximum success. Why iPhone is not a big thing, but you must have a mobile or laptop to invest if you sell mobile then if there is no such thing then there will be nothing to invest so it is a wrong decision. But if you invest then definitely use your savings, it will pay you good amount in future. Also, you must use DCA method before investing as it will always free you rather you will not face losses.

While life can be all fun and full of enjoyment, we take drastic decisions that may worth or many not worth our expenses. Not worth spending in terms of owning two phones not just phone alone other stuffs worth million with these stuffs performing alike functions, it may be worth the fun but considering not having a financial investment involvement whereas the stuffs are meant to return in profit the value at which it was bought, more examples are like people owning luxury cars and wrist watches but have not yet established financial investment, it is simply very unwise.

Bitcoin could be the best financial investment to get involved, it all becomes a matter of BUY AND HODL. And

[Roseline492]

There are some properties that are liabilities instead of an asset. When someone has a property that is a liability and the person choose to dispose the property and invest the money in bitcoin, I don't think there is a problem with that. Not really that the person is jobless or don't have any means of steady flow of income. Some people dispose their assets which are seen as liability and use the money for a lump sum buy in bitcoin.

Bitcoin is an asset which needs your holding powers. If you will hold it and wait. So this will give a big surprise. But making it as a source of income this is not a good decision by the way. First make a passive income source which will feed family and then invest in Bitcoin. Means I want to say that if you will be mentally relaxed so you will invest in Bitcoin and can hold for a long time.
It is my point of view other may disagree. I just share my point of view.

An Assets is something that's of a great value and can provide a good benefit in the future, so of course Bitcoin is a very big Assets that everyone would wish to have a good amount but however it should not be seen as an Asset that could easily provide profit on a daily or weekly basis, so you have to be clear on your perspective about seeing Bitcoin as an assets, because just like every other investment, time and patient is the determining factor so before Bitcoin could serve your purpose is only if you are ready to hold for a long time before you could see the potential of Bitcoin unraveling. So perhaps putting your hope and seeing your Bitcoin investment as a source of income is totally a wrong investment planning which could results on making bad decisions at the end.

[Justbillywitt]

There are some properties that are liabilities instead of an asset. When someone has a property that is a liability and the person choose to dispose the property and invest the money in bitcoin, I don't think there is a problem with that. Not really that the person is jobless or don't have any means of steady flow of income. Some people dispose their assets which are seen as liability and use the money for a lump sum buy in bitcoin.

Bitcoin is an asset which needs your holding powers. If you will hold it and wait. So this will give a big surprise. But making it as a source of income this is not a good decision by the way. First make a passive income source which will feed family and then invest in Bitcoin. Means I want to say that if you will be mentally relaxed so you will invest in Bitcoin and can hold for a long time.
It is my point of view other may disagree. I just share my point of view.

An Assets is something that's of a great value and can provide a good benefit in the future, so of course Bitcoin is a very big Assets that everyone would wish to have a good amount but however it should not be seen as an Asset that could easily provide profit on a daily or weekly basis, so you have to be clear on your perspective about seeing Bitcoin as an assets, because just like every other investment, time and patient is the determining factor so before Bitcoin could serve your purpose is only if you are ready to hold for a long time before you could see the potential of Bitcoin unraveling. So perhaps putting your hope and seeing your Bitcoin investment as a source of income is totally a wrong investment planning which could results on making bad decisions at the end.

An asset isn't something that has to produce profit on a daily or weekly basis before it can be considered an asset.
Some assets produce profit in years. An asset is something that has the potential of generating income over time. It is something that when held or owned it can generate liquid whenever you choose to dispose of it. An asset is something that when you spend the initial capital outlay to acquire it, you won't bother spending your money to maintain it. It's generates money for you in the end. I won't see someone who put his hope on bitcoin generating him money on the long term as being wrong. If bitcoin doesn't have the potential of generating profit on the long run then people won't be investing in it. People are investigating in bitcoin because it has the potential of generating profit when hold for a reasonable number of years. Although the profit might not come when you are expecting it, that's why it is a long term investment.

[teamsherry]

There are some properties that are liabilities instead of an asset. When someone has a property that is a liability and the person choose to dispose the property and invest the money in bitcoin, I don't think there is a problem with that. Not really that the person is jobless or don't have any means of steady flow of income. Some people dispose their assets which are seen as liability and use the money for a lump sum buy in bitcoin.

Bitcoin is an asset which needs your holding powers. If you will hold it and wait. So this will give a big surprise. But making it as a source of income this is not a good decision by the way. First make a passive income source which will feed family and then invest in Bitcoin. Means I want to say that if you will be mentally relaxed so you will invest in Bitcoin and can hold for a long time.
It is my point of view other may disagree. I just share my point of view.

An Assets is something that's of a great value and can provide a good benefit in the future, so of course Bitcoin is a very big Assets that everyone would wish to have a good amount but however it should not be seen as an Asset that could easily provide profit on a daily or weekly basis, so you have to be clear on your perspective about seeing Bitcoin as an assets, because just like every other investment, time and patient is the determining factor so before Bitcoin could serve your purpose is only if you are ready to hold for a long time before you could see the potential of Bitcoin unraveling. So perhaps putting your hope and seeing your Bitcoin investment as a source of income is totally a wrong investment planning which could results on making bad decisions at the end.

An asset isn't something that has to produce profit on a daily or weekly basis before it can be considered an asset.
Some assets produce profit in years. An asset is something that has the potential of generating income over time. It is something that when held or owned it can generate liquid whenever you choose to dispose of it. An asset is something that when you spend the initial capital outlay to acquire it, you won't bother spending your money to maintain it. It's generates money for you in the end. I won't see someone who put his hope on bitcoin generating him money on the long term as being wrong. If bitcoin doesn't have the potential of generating profit on the long run then people won't be investing in it. People are investigating in bitcoin because it has the potential of generating profit when hold for a reasonable number of years. Although the profit might not come when you are expecting it, that's why it is a long term investment.

When it comes to the subject of assets in general, assets could be anything of value that has the potential to grow and increase in value over time or generate profit, an asset could be a business, investments, raw materials etc. And one major thing we look at when buying assets is for we to know that it depends on how you handle your assets that It would generate profit, but in the case of bitcoin, you don't really have to do much thinking like business, you just have to hold or buy at lower price to get more bitcoin. Its just like having a land property or even stock. And bitcoin can act as a good store of value cause it is not affected with the inflation happening in fait, if you invest 30$ worth of bitcoin, when you want to withdraw it, whatever value your 30$ had when you invested it would be retained and even better the asset can even worth more at that time, so people investing in bitcoin has the advantage of retaining of value.

[FinePoine0]

There are some properties that are liabilities instead of an asset. When someone has a property that is a liability and the person choose to dispose the property and invest the money in bitcoin, I don't think there is a problem with that. Not really that the person is jobless or don't have any means of steady flow of income. Some people dispose their assets which are seen as liability and use the money for a lump sum buy in bitcoin.

Bitcoin is an asset which needs your holding powers. If you will hold it and wait. So this will give a big surprise. But making it as a source of income this is not a good decision by the way. First make a passive income source which will feed family and then invest in Bitcoin. Means I want to say that if you will be mentally relaxed so you will invest in Bitcoin and can hold for a long time.
It is my point of view other may disagree. I just share my point of view.

Bitcoin will hold is completely investor's wish because I can say that if Bitcoin holds then there is no possibility of loss in any way. Newbies usually have to accept the risk of holding Bitcoin so it will be easier for them to invest. As here all solutions are given on how to invest in DCA method. So like I've been investing in my Bitcoin DCA method for a long-14 months, and I only invest one day a week. However, investing in Bitcoin requires the ability to accept risk.

[Tmoonz]

Without considering any more opinions Bitcoin is relatively the best of investment in terms of dealing with cryptocurrencies. This same mistakes most people do make encouraging a massive accumulation of Altcoins, sometimes not those that are highly correlated with Bitcoin but just picking their interest on some of these new filthy Altcoins due to generating a new pump giving them 100x of their investment, yet the certainty of making such profits may still be opposed by some certain criterias like the project not being successful or the Devs scamming the investors.

It is best we use our tongue to count our teeth whereas knowing where to invest our money and Bitcoin stands the highest chance of being the subject matters.

We ain't talking about cryptocurrencies and other altcoins here, shitcoins are mere pump and dumps as some investors seems to invest base on hype and FOMO and all that but however, lets not digress from our major discussion here as our interests should be focused on buying and hodling enough Bitcoin in our individual portfolio now that the price hasn't skyrocketed yet, the DCA is a profound way of accumulating at regular intervals as that has always been the bone of contention of our discussion here because the halving is quite approaching and afterwards the bull run begins so it would be so sad that as a bitcoin investor, you couldn't accumulate much bitcoin as a result of waiting for further dip which may not occur and at the end of the day you don't have reasonable amount of Bitcoins in your portfolio.

Using ones tongue to can't the teeths would be meaningless if you don't buy now and hodl because so many persons actually talks about buying and holdling here but yet if you check their individual portfolios you will find out that they have little or no bitcoin in there.

@ crypto princess 101, adding bitcoin investment in an individual investment portfolio is solely depends on the individual because asking the question Why do you want to include Bitcoin in your investment portfolio will as well be answered individually. You don't have to buy Bitcoin because it is the talk of the town and what everybody is doing is a wrong approach and any one that goes by this way will end up badly and a wast of time, individual risk tolerance is a top priority in Bitcoin investment. What is shared here is only advice which some person will take advantage of it, just like in a senero where pastors preaches what is obtainable according to the gospel and not doing it, what is mostly important is the quality of the message that has been passed, utilizing it depends on the individual.

[Wind_FURY]

Your first paragraph is especially a good framing Wind_FURY. 

In that regard, bitcoin provides us with a lot of various kinds of empowerment that is not merely about getting rich - even though getting rich seems to have had historically been an additional benefit that people have been receiving by building their BTC stash and mostly HODLing their BTC stash through many years.

Some people only come for the get-rich part of bitcoin and they are focused on the getting rich part and not even giving any shits about the empowering part, and surely some of these people will evolve in their thinking and understanding of bitcoin, but some of them will never get over the mere monetary focus, which I suppose in several senses if still valid, even though it is incomplete and somewhat superficial way of thinking about and understanding bitcoin... ..

even though as long as we keep building and holding our BTC, we can have very good chances of being able to end up doing both, too.. whether our original intentions had been exclusively on one or another, it still seems that both will continue to play out in the coming years.. and there are some who even say that it is inevitably based on math, even though many of us realize that it is not inevitable, yet bitcoin is a pretty amazingly designed system.. that is likely to persist and even to go up in value, which surely makes it more beneficial to any individuals to be sure to employ consistent, persistent, ongoing and perhaps even aggressive (without over doing it) accumulation strategies.

I'm guilty of that. ¯\_(ツ)_/¯

I started my journey through "trading" shitcoins thinking I would get rich, lost some of my savings, then I made the decision to put almost 100% of my savings until 2019 into Bitcoin. It was greed that attracted me here, but as I researched and learned more and more about "my investment", it stopped entirely being just an "investment", but it also became a back up/fall back in case the entire financial system fails/in case I need censorship-resistant transactions if we end in a world of CBDCs

We should stay for the ethos.

Well I guess we have similar story to tell. I started from investing in ICOs of shitcoins like PumaPay that collected over $8 million and gave investors shitcoins that died without value. Because of that I made the post that It is only Bitcoin and nothing else. So, be it trading or ICO and whatever, I have learnt my lesson the hard way and have taken the decision already and so far, I feel much better and relaxed.

I know some people argue that Bitcoin does not give huge profits like X10 or X100 over a shot period of time. This is true and I like it that way because it is only someone filled with greed that will expect to make profits of X10 to X100 with a very short time. Those who are fixed on following the part will always live to tell their gory stories amidst uncontrollable tears. There is a popular adage that says that "when rain beats you twice, you will know the real meaning of cold". So I will not allow myself to make the same mistake twice. No matter how lucrative they make trading or investing in ICOs seem, it is and will never be for me.

Building a Bitcoin portfolio may be slow with its challenges such as being disciplined to follow the plans, but what is certain is that you are sure that you are biulding on a solid foundation and not on quicksand.

But it's good to take some risks and make a move. You might get lucky and hit a jackpot OR get burned and learn the hard way.

BUT knowing what you didn't know during the ICO boom, I believe you would have dumped "PumaPay" with profit and stored your capital and the profit in Bitcoin, where it will definitely be safe. It may be volatile, but it can never be taken away from you.

[Salahmu]

Bitcoin investment is something we should not be in a hurry to start if we don't have a source of income. If you use the available fund to start your bitcoin accumulation journey without any source of income, you will tamper with your bitcoin holdings to survive when the available fund has run out.

In as much as I would agree on what you said but I think with a proper planning someone that doesn't have source of income could actually start accumulating Bitcoin, however he  could start by using the little money he has to start up a business and with time and consistent you will see that the business will start yielding a good profit for him to start the Bitcoin journey while his normal business will now serve him as his source of income and before he realized he has already become a Bitcoin holder, however in life most people are always afraid of trying because they are clouded by negative mindset that's why most people will always speculate about the price of Bitcoin to get to a particular level before they could start buying and sometimes they miss out the opportunities because they are always scared of what will become of there investment. So actually with a proper planning there is no limitation to what someone can achieve through Bitcoin investment in the future.

[AirtelBuzz]

Bitcoin is an asset which needs your holding powers. If you will hold it and wait. So this will give a big surprise. But making it as a source of income this is not a good decision by the way. First make a passive income source which will feed family and then invest in Bitcoin. Means I want to say that if you will be mentally relaxed so you will invest in Bitcoin and can hold for a long time.
It is my point of view other may disagree. I just share my point of view.

Investing in Bitcoin is easy for everyone but not everyone is easy to keep investing in Bitcoin for a long time. But as you say you must have an income source to continue investing in bitcoins. If we start investing in Bitcoin and we have an income source then we can continuously increase our investment even for a few years.

All of us who invest in DCA method and continue to invest should continue to invest in Bitcoin with whatever money is left aside from paying for our family expenses. We may need money at any moment in our life so we don't have to sell our invested bitcoins to meet that need. This is why we need an income source from which we can provide our necessary funds and continue to invest the extra money earned from the income source in our Bitcoin without any hindrance.

[ShowOff]

Bitcoin investment is something we should not be in a hurry to start if we don't have a source of income. If you use the available fund to start your bitcoin accumulation journey without any source of income, you will tamper with your bitcoin holdings to survive when the available fund has run out.

In as much as I would agree on what you said but I think with a proper planning someone that doesn't have source of income could actually start accumulating Bitcoin, however he  could start by using the little money he has to start up a business and with time and consistent you will see that the business will start yielding a good profit for him to start the Bitcoin journey while his normal business will now serve him as his source of income and before he realized he has already become a Bitcoin holder, however in life most people are always afraid of trying because they are clouded by negative mindset that's why most people will always speculate about the price of Bitcoin to get to a particular level before they could start buying and sometimes they miss out the opportunities because they are always scared of what will become of there investment. So actually with a proper planning there is no limitation to what someone can achieve through Bitcoin investment in the future.

Build a business first, get the profits, then invest in bitcoin?
If that's what you mean, can the business promise profits? I think every business that is built certainly does not guarantee that the entrepreneur will get the profit as expected, that is a risk that really should not be ignored. But your suggestion about how someone can have a source of income is correct, I also agree with it.

Business and investment both have risks, but the risks may be different. Investing in bitcoin is simple if you are only interested in being a holder, it can save more emotions due to uncertain market volatility. A person can invest in bitcoin even if they don't have a steady source of income, but they should at least have a way to save money whenever they have money. Despite their excessive fear of investment risks, they have never been forced to do so. Only people who can consider high risks are worth investing in, if they are afraid of losing, then they should just keep their money under a pillow.

[Odohu]

Bitcoin investment is something we should not be in a hurry to start if we don't have a source of income. If you use the available fund to start your bitcoin accumulation journey without any source of income, you will tamper with your bitcoin holdings to survive when the available fund has run out.

In as much as I would agree on what you said but I think with a proper planning someone that doesn't have source of income could actually start accumulating Bitcoin,

I don't agree with you on this because without source of income, what you call investment in BItcoin will be sold to meet basic needs in a matter of a short time. Bitcoin investment require that one should achieve some level of financially comfortability to be able to hold. How do someone without a source of income have money to meet his basic needs, set up emergency funds and still invest in Bitcoin. The desire to invest will be there but without a source of income, it will not work out well.

however he  could start by using the little money he has to start up a business and with time and consistent you will see that the business will start yielding a good profit for him to start the Bitcoin journey while his normal business will now serve him as his source of income

You are obviously missing things up. This is confirming that a source of income is a requirement to be able to successfully invest in Bitcoin. Anyone without a source of income should first and foremost work on getting one, it could in the form of a job or opening a business... the source of funds must be established else it will not be possible to hold Bitcoin for long.

[teamsherry]

As a long time hodler why do you need to be bothering yourself with watching the market? Your sole purpose is just to keep buying and don't let your attention be bothered by market activities. If your goal is to accumulate and hodl for 6 years and above, then the market timing is not something you should be bothering yourself with. You should just be concerned with getting steady flow of liquidity to inject in bitcoin. Any price you meet bitcoin when you liquidity is available you buy. Let the day traders bother themselves with the market timing.

Bitcoin market is volatile which can create different sentiments at any time among those who follow the market. Those who are committed to long-term holding would definitely do well to keep an eye on how to further diversify their portfolio. Those who understand the value of Bitcoin see the dumping of Bitcoin as an opportunity for them. Those who are short-term investors may be happy with small profits but a Bitcoin holder usually dreams big.

Are you saying that buying other coins in addition to Bitcoin is really diversification? I do not agree with you on this one because Bitcoin is enough to avoid mistake. I think the main focus of most of the people here is how to build their Bitcoin portfolio and not diversify into other coins that you are not sure if their founders will dump it and run away.

Many people have lost fortune investing in coins they were convinced will give them big profits. I expect you to learn from the mistakes of those people and concentrate in building your Bitcoin portfolio rather than thinking of diversifying when you are just exposing yourself to danger.

You cannot mistake buying assets for liability just because they have the same nature, while shitcoins and bitcoin would all be considered crypto currency does not mean you can call all of them assets. Investing in shitcoins is not advisable especially since this coins are dependent on bitcoin to have any value or even do well, why go to the servant, if you can access the son? . Diversifying in shitcoin cannot even be seen as Diversification cause you are gambling with uncertainty and luck. If you really want to diversify, you should build your bitcoin to a substantial amount of holding, then find something real like real estate, stock etc to actually diversify. And I think the lessons we learnt in accumulating bitcoin would also be of use if we decide to diversify with other asset.

And I don't think that's what he meant when he mentioned diversify

[Salahmu]

Bitcoin investment is something we should not be in a hurry to start if we don't have a source of income. If you use the available fund to start your bitcoin accumulation journey without any source of income, you will tamper with your bitcoin holdings to survive when the available fund has run out.

In as much as I would agree on what you said but I think with a proper planning someone that doesn't have source of income could actually start accumulating Bitcoin,

I don't agree with you on this because without source of income, what you call investment in BItcoin will be sold to meet basic needs in a matter of a short time. Bitcoin investment require that one should achieve some level of financially comfortability to be able to hold. How do someone without a source of income have money to meet his basic needs, set up emergency funds and still invest in Bitcoin. The desire to invest will be there but without a source of income, it will not work out well.

however he  could start by using the little money he has to start up a business and with time and consistent you will see that the business will start yielding a good profit for him to start the Bitcoin journey while his normal business will now serve him as his source of income

You are obviously missing things up. This is confirming that a source of income is a requirement to be able to successfully invest in Bitcoin. Anyone without a source of income should first and foremost work on getting one, it could in the form of a job or opening a business... the source of funds must be established else it will not be possible to hold Bitcoin for long.

It seems you don't really understand my statement because if you do you wouldn't have reason it on that perspective because on my statement I did not mention that source of income is not important but however I was only offering or suggesting for someone who has an interest to invest on Bitcoin but doesn't not have any other means of income generator, so I was actually telling the person that instead of putting all the money on Bitcoin whereas he doesn't have any means of income generator that would enable him to keep accumulating Bitcoin that perhaps he could diversify the funds to a normal business and maybe when it start yielding profits he can now start his accumulation process on Bitcoin and by then his source of income will be assured because is obvious that our regular Bitcoin accumulation is dependent on our source of income so if perhaps an investor doesn't have any other means of income generator then it becomes a barrier or a distortion to there bitcoin investment journey.

[Tmoonz]

Bitcoin investment is something we should not be in a hurry to start if we don't have a source of income. If you use the available fund to start your bitcoin accumulation journey without any source of income, you will tamper with your bitcoin holdings to survive when the available fund has run out.

In as much as I would agree on what you said but I think with a proper planning someone that doesn't have source of income could actually start accumulating Bitcoin, however he  could start by using the little money he has to start up a business and with time and consistent you will see that the business will start yielding a good profit for him to start the Bitcoin journey while his normal business will now serve him as his source of income and before he realized he has already become a Bitcoin holder, however in life most people are always afraid of trying because they are clouded by negative mindset that's why most people will always speculate about the price of Bitcoin to get to a particular level before they could start buying and sometimes they miss out the opportunities because they are always scared of what will become of there investment. So actually with a proper planning there is no limitation to what someone can achieve through Bitcoin investment in the future.

 Please note this,There is no proper planning without a source, it is lack of orientation that makes most people think they can start a Bitcoin investment without a stable and passive income flow let alone other investment. However even if he uses the little money he has to start up a business after his initial purchase, what is the certainty that the business will yeild profit to enable him continue his accumulation, what if there was no profit out of the business he started, stable income flow is at top priority and highly esteemed in Bitcoin accumulation, similarly meeting up our basic needs and having a reserved and emergency funds are what will possibly help in achieving our goal, it is also advisable not to invest more than your capacity due to fomo, all these has been over emphasise in this thread, this is my opinion and view.

[Mayor of ogba]

Bitcoin investment is something we should not be in a hurry to start if we don't have a source of income. If you use the available fund to start your bitcoin accumulation journey without any source of income, you will tamper with your bitcoin holdings to survive when the available fund has run out.

In as much as I would agree on what you said but I think with a proper planning someone that doesn't have source of income could actually start accumulating Bitcoin, however he  could start by using the little money he has to start up a business and with time and consistent you will see that the business will start yielding a good profit for him to start the Bitcoin journey while his normal business will now serve him as his source of income and before he realized he has already become a Bitcoin holder, however in life most people are always afraid of trying because they are clouded by negative mindset that's why most people will always speculate about the price of Bitcoin to get to a particular level before they could start buying and sometimes they miss out the opportunities because they are always scared of what will become of there investment. So actually with a proper planning there is no limitation to what someone can achieve through Bitcoin investment in the future.

Just know that someone who doesn't have a source of income and starts accumulating Bitcoin will end up selling his Bitcoin holdings one day to survive because he or she does not have enough money to save an emergency fund that will take care of his financial needs. I see your suggestion of starting a business as a bad one because inflation has made the price of commodities very high, and such a person cannot afford the money to start up a business that will make him or her start getting a profit in the short term to start his bitcoin accumulation.

[Troytech]

It is difficult to give more suggestions than what I already have because you seem to be wanting to time your buys in a way to attempt to get as much bang from them as you can, and sure there is nothing wrong with that, up to a point, but you have to still consider that no matter what you do, you are likely going to still have some cash in your reserves and the price goes up or you run out of cash and the price goes down.

It seems that you also have gone through some of the exercises that we discussed, but really best case, worst case and base case scenarios have short, medium and long term components, and they likely are not very relevant for short term since you probably should mostly be focusing on DCA rather than trying to buy the dip and things like that. .It seems that you do not have enough money coming in on a regular basis to be covering  all of the scenarios..so you have to just keep building your various stashes that are going to be combined with BTC, emergency funds, reserves and maybe even maintaining some float so you don't cause yourself to go crazy if you make mistakes and you try to push your BTC buys but then run out of money or fail to plan properly..

One of the solid ways that I can suggest is to create a plan for either 3 or 6 months at a time, but hey, I know that you don't want to do that because you are all excited about the ETFs and about the halvenings, so I cannot really blame you for those kinds of inclinations to front-load rather than budgeting for 3 or for 6 months.

Anyhow, if you budget for 6 months, then you add up all the money that you have available for investing (and maybe you already bought bitcoin with that), an then you have your income coming in which is weekly or twice a month or maybe it is more sporadic than that, but still you have some kind of an idea of your budget, so if you have a weekly allowance in which you are able to buy $100 per week, then whenever the week starts, you can try to figure out the best of the dips during the week, and maybe you buy $33.33 worth of bitcoin each time there is a significant dip, and then by the end of the week, you spend whatever is left, if you have any left, and then the next week you have another $100 in your allowance that you are able to spend, so you can try to buy the dips, but maybe you will get too stressed by that, so what is wrong with just picking a day of the week and then just buy every week on that day?

$100 per week would give you $2,600 invested in 6 months.

If you have $2,400 in your savings, and you decide that you want to spend half of it right away, then you end up buying $1,200 right away, and then maybe the other half you use to buy dips (if there are dips), so then maybe you might set your first dip buy $100 at around $38k, and then every $750 that the BTC price drops then you would end up buying another $100, but that would give you only 12 BTC buy orders, and is that enough for you or not?  In my thinking you want BTC buy orders to go slightly below where you think is the most that the BTC price is likely to drop, but maybe you consider that there are no way that you could have 12 buy orders fill.. because that would be buying $100 at each of the price points:

1    =  $38,000
2    =  $37,250
3    =  $36,500
4    =  $35,750
5    =  $35,000
6    =  $34,250
7    =  $33,500
8    =  $32,750
9    =  $32,000
10  =  $31,250
11  =  $30,500
12  =  $29,750

No one knows, so you just try to set your buy orders (increments and amounts) the best that you can (based on your budget and based on your view of not wanting to run out of money to buy but being happy if the BTC price goes up rather than down), and you hope that all of your buy orders don't get filled unless the BTC price spikes down, fills all your orders and then goes back up (I know newbies are not as affected by price drops, but still getting yourself into a mentality of a BTC holder is that you should probably be stacking BTC to such an extent that you are always hoping the BTC price goes up rather than down or sideways). 

You don't know.. are your orders going to get filled or not?  They should feel like insurance that you don't want to have to use, but you have it in case the drop happens.  And maybe the longer that you are in bitcoin the longer you maintain these kinds of buying on the dip ladders while at the same time you are DCA buying on a regular basis, perhaps $100 per week or some other amount that is reasonable based on all of your circumstances that you reassess from time to time.

Thanks sir it has really been helpful, I now know where I'm failing at and that is making long term plans, my plans need to be a little bit long term and also the senerio I would create, I had been building up my emergency funds and reserves quite all right, but now I think k i should also budget a little to saving at leat 3-6 months of cash that I would use to DCA, after every six months in addition to my normal weekly regular plan. I can't say it all, but I would do a real reassessment of my plans and senerio and match it up with what you've said and try to bring it to my terms of comfort. Thanks a lot sir, its really been wonderful having you here.

Build a business first, get the profits, then invest in bitcoin?
If that's what you mean, can the business promise profits? I think every business that is built certainly does not guarantee that the entrepreneur will get the profit as expected, that is a risk that really should not be ignored. But your suggestion about how someone can have a source of income is correct, I also agree with it.

Business and investment both have risks, but the risks may be different. Investing in bitcoin is simple if you are only interested in being a holder, it can save more emotions due to uncertain market volatility. A person can invest in bitcoin even if they don't have a steady source of income, but they should at least have a way to save money whenever they have money. Despite their excessive fear of investment risks, they have never been forced to do so. Only people who can consider high risks are worth investing in, if they are afraid of losing, then they should just keep their money under a pillow.

IMO I can't actually say all business are not guaranteed to make profit, but growing up from a business family I might be used to this, so I might not really have problem making sales from my business. But I feel it is quite important for investor to have steady source of income even if its little to assist them in their investment journey, else how can they build their emergency funds or even guarantee themselves not to touch their Bitcoin holdings. Its true they can start without having a source of income, but at least they must be a form of regularity in the pattern they get money else it would be hard for them to save also consider that they would have some expense that could pile up since they only have money once in a while, so it's best to get or have sturdy source of income, unless they already have some huge savings to start investing with.