Buy the DIP, and HODL!

[Winterfrost]

.... disciplining oneself to have a good psychology, inorder to build a good portfolio .

I think that if you are able to put your finances in a comfortable place, then you likely do not need as much discipline regarding the psychology, and the psychology will follow from having your finances in good order, and also psychology follows when you have built up a good sized BTC stash and you are in profits.. but until you get to that point, your building of your financial systems should be helpful in terms of giving you peace of mind that strengthens your psychology.. since you will more likely have systems in place in which you are prepared for the BTC price to go up or to go down or to go sideways.

this is absolutely true.
At every stage of your Bitcoin accumulation journey, there are major factors that could stand to bother you.

At the start, it's more of sorting out the right plan to work with which is basically a function of  your financial strength and you might just need to decide if you're financially strong enough to buy in bulk or settle with the DCA method and when doing this, there is really no need to bother about any sort of emotional or psychological whatever. You have to face the visible fact that your finance is either strong enough to buy in bulk or isn't.

At the point when you've accumulated a good amount of satoshis in your portfolio and then the market is bullish and you're also at a good profit, this is when you've got to work on your emotional and psychological prowess that will help you become disciplined and patient enough to building a good portfolio. It's not always an easy thing to keep your emotions in check when you're in profit and what some persons would normally do is to sell out some of there holding and reinvest it whenever there is a DIP. But the issue has always been if the market will go as DIP as they would normally expect it to and the obvious answer is , even if it doesn't, as long as you're buying to hold for much longer period of time, you're definitely going to be in profit.

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[Tmoonz]

.... disciplining oneself to have a good psychology, inorder to build a good portfolio .

I think that if you are able to put your finances in a comfortable place, then you likely do not need as much discipline regarding the psychology, and the psychology will follow from having your finances in good order, and also psychology follows when you have built up a good sized BTC stash and you are in profits.. but until you get to that point, your building of your financial systems should be helpful in terms of giving you peace of mind that strengthens your psychology.. since you will more likely have systems in place in which you are prepared for the BTC price to go up or to go down or to go sideways.

Yeah I gat this point correctly,  that is having a certain level of preparedness in terms well planned funds allocation and being much ready in taking the necessary measure as regards to balancing up with your investment in terms of when the price is goes down  and when  the price goes up in order to ensure you are accumulating good size of Bitcoin in your portfolio and seeing that your overall is in profits, that is true when an idea investor takes an appropriate measures in his accumulation process he has the rest of mind needed to grow his asset.

[Justbillywitt]

I couldn't agree with you, because even in case of shitcoins long term investment you will get more or less profit. Yes ... you can expect incredible profits by investing in bitcoin. Shitcoins can't even come close to that.

yeah you can get some profit or less profit (or non profit or might endup with losses) , try to get my point trading shitcoins is less risky than holding them you should know . Most people trade shitcoins for short-term profit, accumulating and holding shitcoins is a complete waste , why waste those funds while there's is an epic investment like bitcoin. So I will say try and minimise the urge of trading shitcoins ( or gambling with your funds), by focusing more on accumulating bitcoin, to be in the safer side where you can be ease when accumulating and hodl.

Some people are so adamant about this shit coins of a thing. No matter how you advise them to leave shitcoins and turn their investments to bitcoin they won't agree until they run into troubles, by losing their funds. Some of them usually draw this line because they might have seen someone who got lucky with one shitcoins investment after losing several times and finally made small money. so those who are following their footsteps won't ever listen when you are telling them to leave shitcoins and come to bitcoin where there is life and more peace of mind, they won't ever hear. While I attribute some of their actions to ignorance.

[Chibit01]

Couldn't agree more. What you said about trading shitcoins is total truth. The risk involved is too great a risk that the success rate in it is a mirage. It should be basic knowledge that investing in shitcoin is considered gambling. As for Bitcoin where HODLing is the best move to make, in shitcoin, it's the reverse where holding on to them is foolishness as you have to sell your coins as soon as possible to avoid losses, but nobody should get me wrong, people make their 'profit' and all that, but then look at the Bitcoin side. Can you honestly call that profit?

Before I got into the digital asset space, my uncle was going on and on about having this shitcoin and all that. Trading was his thing and he was in more valleys than peaks, and HODLing didn't make any sense to him. Well in Bitcoin, HODLing is how to do it.

I can see you're now getting the gist , at first try and arrange your post quoting properly, that why I told that most people use shit Coin for short term profit during trading cause of the risk, yeah there people who are making from trading and all that but before getting to that stage , you don't want to imagine the Shit you going to pass through, and it take alot of practicing and skills to get there. But in investing you just need basic knowledge and you good to go with your accumulation. Like when I was still into trading due to the losses I didn't have the guts to recommend trading To my friends but I can gladly recommend them into holding of bitcoin and doing so, I don't have to stress my self to say too much , bitcoin growth as already made it obvious on how amazing bitcoin is . So if you still insist in trading I would advice you to trade wisely and as trading try accumulating more bitcoin ( for holding not trading) and don't let your trading affect your bitcoin accummulation.

Sure you are right because you can't in anyway compare bitcoin to any of these shitcoins most of this shitcoins always ends up been a scam because I have witnessed one though I'm not a victim but in the crypto market; is a place where people come with hopes of finding wealth beyond their dreams.............................................

There is no better example of this than the hype surrounding meme tokens. Everyone loves having a chance to become wealthy with little to no investment. That is why the lottery is so successful. In recent years we have seen countless meme coins go from being worth next to nothing to having a substantial market cap.

Projects such as , Shiba Inu, Floki, Baby Doge, IRON 🧇 and the list goes on. No matter how much we would like to deny it, the truth is that these were the no better  performers during the last cycle by all of this shitcoins...................................

The two factors that brought the most amount of attention to crypo from the mainstream were meme coins and NFTs.

again bitcoin has come to be stand firm all this years making it way out from all this shitcoins you will buy waiting for miracle to happen one day for you to earn much from them my dear comrade I will advise us not venture our money in any of this shitcoins roaming everyday in the crypto market or depending on any of them

[ultrloa]

I couldn't agree with you, because even in case of shitcoins long term investment you will get more or less profit. Yes ... you can expect incredible profits by investing in bitcoin. Shitcoins can't even come close to that.

yeah you can get some profit or less profit (or non profit or might endup with losses) , try to get my point trading shitcoins is less risky than holding them you should know . Most people trade shitcoins for short-term profit, accumulating and holding shitcoins is a complete waste , why waste those funds while there's is an epic investment like bitcoin. So I will say try and minimise the urge of trading shitcoins ( or gambling with your funds), by focusing more on accumulating bitcoin, to be in the safer side where you can be ease when accumulating and hodl.

Some people are so adamant about this shit coins of a thing. No matter how you advise them to leave shitcoins and turn their investments to bitcoin they won't agree until they run into troubles, by losing their funds. Some of them usually draw this line because they might have seen someone who got lucky with one shitcoins investment after losing several times and finally made small money. so those who are following their footsteps won't ever listen when you are telling them to leave shitcoins and come to bitcoin where there is life and more peace of mind, they won't ever hear. While I attribute some of their actions to ignorance.

That's normal there's someone they trust introduce those shitcoin in wrong way and they make those newbie believe that its more better to invest in this token since they can easily earn money here which we know far from reality. What at least we can do for those guys is to educate them about possible risk they are going and try to make them understand that there's no other coin that have more potential and redirect them to invest on bitcoin if they want a investment for long term. For sure these people will be evasive because they can't digest immediately those information you told to them. But if you are consistent and show some proof for sure their decision will be change and they go for bitcoin for long term purposes.

[Fara Chan]

Yeah I gat this point correctly,  that is having a certain level of preparedness in terms well planned funds allocation and being much ready in taking the necessary measure as regards to balancing up with your investment in terms of when the price is goes down  and when  the price goes up in order to ensure you are accumulating good size of Bitcoin in your portfolio and seeing that your overall is in profits, that is true when an idea investor takes an appropriate measures in his accumulation process he has the rest of mind needed to grow his asset.

The aim of being prepared to allocate funds for Bitcoin investment is so that every investor can be comfortable enough in investing and not be like someone who is pressed for time because they have to keep thinking about their lack of capital. Apart from that, any ideas that each investor will use are also aimed at gaining profits that previously might not have been possible with just a small amount of capital. So this really needs to be understood very well for smooth investment and also for smooth accumulation of more Bitcoin when the price decline starts to occur.

[I_Anime]

I couldn't agree with you, because even in case of shitcoins long term investment you will get more or less profit. Yes ... you can expect incredible profits by investing in bitcoin. Shitcoins can't even come close to that.

yeah you can get some profit or less profit (or non profit or might endup with losses) , try to get my point trading shitcoins is less risky than holding them you should know . Most people trade shitcoins for short-term profit, accumulating and holding shitcoins is a complete waste , why waste those funds while there's is an epic investment like bitcoin. So I will say try and minimise the urge of trading shitcoins ( or gambling with your funds), by focusing more on accumulating bitcoin, to be in the safer side where you can be ease when accumulating and hodl.

Some people are so adamant about this shit coins of a thing. No matter how you advise them to leave shitcoins and turn their investments to bitcoin they won't agree until they run into troubles, by losing their funds. Some of them usually draw this line because they might have seen someone who got lucky with one shitcoins investment after losing several times and finally made small money. so those who are following their footsteps won't ever listen when you are telling them to leave shitcoins and come to bitcoin where there is life and more peace of mind, they won't ever hear. While I attribute some of their actions to ignorance.

Well I understand concept, but still is not their fault if you advice them and they still insist to continue, because one may have been into investing in shitcoins for long so it won't take just an advice to convinced that particular individual to see the risk attached to what they are doing, just As @ultrloa said one need to be consistent and show some proof and surely they would have a change of mind (or make some adjustments) , to stop risky their funds in some shitcoins and start accumulating bitcoin for long-term purposes (thanks ultrloa) . While those that still continue will only endup learning in the hard way ( which is from experience) and I would say sorry for your loss after getting yourself reckt.

again bitcoin has come to be stand firm all this years making it way out from all this shitcoins you will buy waiting for miracle to happen one day for you to earn much from them my dear comrade I will advise us not venture our money in any of this shitcoins roaming everyday in the crypto market or depending on any of them

bitcoin has never be the same league with those so called shitcoins, reason why all the other coins are altcoins except bitcoin, they are all alternative coins while bitcoin is the main main...😁

[Barikui1]

I couldn't agree with you, because even in case of shitcoins long term investment you will get more or less profit. Yes ... you can expect incredible profits by investing in bitcoin. Shitcoins can't even come close to that.

yeah you can get some profit or less profit (or non profit or might endup with losses) , try to get my point trading shitcoins is less risky than holding them you should know . Most people trade shitcoins for short-term profit, accumulating and holding shitcoins is a complete waste , why waste those funds while there's is an epic investment like bitcoin. So I will say try and minimise the urge of trading shitcoins ( or gambling with your funds), by focusing more on accumulating bitcoin, to be in the safer side where you can be ease when accumulating and hodl.

Some people are so adamant about this shit coins of a thing. No matter how you advise them to leave shitcoins and turn their investments to bitcoin they won't agree until they run into troubles, by losing their funds. Some of them usually draw this line because they might have seen someone who got lucky with one shitcoins investment after losing several times and finally made small money. so those who are following their footsteps won't ever listen when you are telling them to leave shitcoins and come to bitcoin where there is life and more peace of mind, they won't ever hear. While I attribute some of their actions to ignorance.

Well I understand concept, but still is not their fault if you advice them and they still insist to continue, because one may have been into investing in shitcoins for long so it won't take just an advice to convinced that particular individual to see the risk attached to what they are doing, just As @ultrloa said one need to be consistent and show some proof and surely they would have a change of mind (or make some adjustments) , to stop risky their funds in some shitcoins and start accumulating bitcoin for long-term purposes (thanks ultrloa) . While those that still continue will only endup learning in the hard way ( which is from experience) and I would say sorry for your loss after getting yourself reckt.

again bitcoin has come to be stand firm all this years making it way out from all this shitcoins you will buy waiting for miracle to happen one day for you to earn much from them my dear comrade I will advise us not venture our money in any of this shitcoins roaming everyday in the crypto market or depending on any of them

bitcoin has never be the same league with those so called shitcoins, reason why all the other coins are altcoins except bitcoin, they are all alternative coins while bitcoin is the main main...😁

I really do buy to your sentiment here, their is no subtitles to Bitcoin, newbies especially, they think that because alt and shit coin gives better roi, making money out of it is that easy, they don't know that shit coin falls more than they rise, and to me, I sees it as gambling, because they know how dangerous it is and still ventures into it, but with Bitcoin, even though most times the volatility might be crazy, but I believe that your investment is secured if you are a long term investor, because those that will benefit mostly from Bitcoin are the long term thinker.

[JayJuanGee]

.... disciplining oneself to have a good psychology, inorder to build a good portfolio .

I think that if you are able to put your finances in a comfortable place, then you likely do not need as much discipline regarding the psychology, and the psychology will follow from having your finances in good order, and also psychology follows when you have built up a good sized BTC stash and you are in profits.. but until you get to that point, your building of your financial systems should be helpful in terms of giving you peace of mind that strengthens your psychology.. since you will more likely have systems in place in which you are prepared for the BTC price to go up or to go down or to go sideways.

this is absolutely true.
At every stage of your Bitcoin accumulation journey, there are major factors that could stand to bother you.

At the start, it's more of sorting out the right plan to work with which is basically a function of  your financial strength and you might just need to decide if you're financially strong enough to buy in bulk or settle with the DCA method and when doing this, there is really no need to bother about any sort of emotional or psychological whatever. You have to face the visible fact that your finance is either strong enough to buy in bulk or isn't.

At the point when you've accumulated a good amount of satoshis in your portfolio and then the market is bullish and you're also at a good profit, this is when you've got to work on your emotional and psychological prowess that will help you become disciplined and patient enough to building a good portfolio. It's not always an easy thing to keep your emotions in check when you're in profit and what some persons would normally do is to sell out some of there holding and reinvest it whenever there is a DIP. But the issue has always been if the market will go as DIP as they would normally expect it to and the obvious answer is , even if it doesn't, as long as you're buying to hold for much longer period of time, you're definitely going to be in profit.

Those are some good points Winterfrost, including that the very earliest stages would be setting up a short term plan that is largely just focused on establishing a kind of initial stake, and perhaps getting other aspects of your financial life in order - since any kind of investing is likely going to cause us to have to be more disciplined with our personal finances, while at the same time if the asset class is very volatile (and even controversial) such as bitcoin, there is even more needs for making sure that your financial house is in order while in those initial stages of building.

So then at some point further down the road, there may well come various temptations regarding whether there might be some advantages to trying to sell some of your stash and to rebuy, and these kinds of temptations can come, even when guys should be clearly in their fairly early stages of building their BTC stash - yet since each guy enters bitcoin at a different point in his investment (or life) journey, he is likely going to be faced with the dilemmas at points that cannot be classified very clearly, yet I would still contend that if the guy does end up concluding that it would be good to shave off some BTC with hopes of buying back lower, that he is only leveraging with relatively small portions of his overall stash and that he stays focused on accumulation through ways of buying, even though there could be some situations in which selling some might be a good hedge (while balancing and realizing at the same time that he might not be able to buy back the sold BTC at a lower price).

[edited out]

Yeah I gat this point correctly,  that is having a certain level of preparedness in terms well planned funds allocation and being much ready in taking the necessary measure as regards to balancing up with your investment in terms of when the price is goes down  and when  the price goes up in order to ensure you are accumulating good size of Bitcoin in your portfolio and seeing that your overall is in profits, that is true when an idea investor takes an appropriate measures in his accumulation process he has the rest of mind needed to grow his asset.

There likely will be times in an investment that it might not be clear whether progress is being made - especially a guy might be continually buying, and maybe even over 6 months to a year or even more, it seems that the value of his investment is going down rather than up (as measured in dollars), so he could become disoriented and disenchanted by those kinds of dynamics - but at the same time, he might see that his BTC stash size is continuing to go up and maybe even his cost per BTC is continuing to go down, which should cause him satisfaction even during the seemingly tough times that might not even be clear if they will resolve - since we also know that there is no guarantee that bitcoin will recover from every crash, so we have to be prepared for those kinds of possibilities, even if we still assess bitcoin as amongst the best of investments (if not the best of investments).

[Bd officer]

I really do buy to your sentiment here, their is no subtitles to Bitcoin, newbies especially, they think that because alt and shit coin gives better roi, making money out of it is that easy, they don't know that shit coin falls more than they rise, and to me, I sees it as gambling, because they know how dangerous it is and still ventures into it, but with Bitcoin, even though most times the volatility might be crazy, but I believe that your investment is secured if you are a long term investor, because those that will benefit mostly from Bitcoin are the long term thinker.

In fact, many people decide to invest in alt coins or various shit coins to make quick profits. They invest in altcoins and at some point they lose the investment, then they regret it. Investing in altcoins offers quick high profits but high risk. So it is best that you invest in Bitcoin. While not making quick profits in Bitcoin, the risk is very low.  I think investing in Bitcoin is not risky. So, don't lose your funds by investing in altcoins hoping to get more profit. You invest in Bitcoin and hold patiently, you will get a lot of profit if you hold for a long time. So, avoid altcoins and invest in Bitcoin.

[Moreno233]

again bitcoin has come to be stand firm all this years making it way out from all this shitcoins you will buy waiting for miracle to happen one day for you to earn much from them my dear comrade I will advise us not venture our money in any of this shitcoins roaming everyday in the crypto market or depending on any of them

bitcoin has never be the same league with those so called shitcoins, reason why all the other coins are altcoins except bitcoin, they are all alternative coins while bitcoin is the main main...😁

I don't think calling the so called altcoins alternative to Bitcoin is actually right because if we call them alternative, it means they can do what Bitcoin can do and by extension equivalent to Bitcoin. This is absolutely wrong because Bitcoin is in another planet, far different from them. If you fall into this line of argument, then you are equally falling into the plans and claims of the proponents of the proliferated shitcoins we have now whose main objective is to scam people off their money. Bitcoin is just Bitcoin and has no alternative, people must understand this to avoid confusing, mistakes and possible loss of funds.

Many people try to make their shitcoins appear like Bitcoin to be able to take advantage of the popularity and acceptability of Bitcoin. They go as far as spending so much money on marketing to this regards and unsuspecting people actually buy their crap and are screwed at the end of the day. The memory of Ordinals is still fresh in our heads, how they leveraged on the popularity of Bitcoin to launched their NFT on the Bitcoin network that resulted in the congestion of same. Today the hype is gone and it is a matter of time before we begin to read the stories of people losing their money to that project.

[Samlucky O]

Before I got into the digital asset space, my uncle was going on and on about having this shitcoin and all that. Trading was his thing and he was in more valleys than peaks, and HODLing didn't make any sense to him. Well in Bitcoin, HODLing is how to do it.

Everyone is always stuck to his level of understanding about something, until they see someone that will bring them to limelight. and I think you will be in a better position to tell your uncle that trading is not profitable. You must prove some important fact to let him know how important holding is. although I know it might be difficult to change his way of doing things or perspective. But it's a matter of choice. Like me initially when I came to this forum newly I came with the notion of trading and holding shitcoin hoping for a greater days ahead not knowing I was waiting for worst days ahead. And as time passes I realised I was fooling myself all around this year's. Untill I started holding bitcoin . Although I nearly gave up on bitcoin when the price has dip, I would have even sold it off. but as I was coming to this thread I was motivated to keep HODling which I did. Now my btc portfolio is growing impressively and am happy as a holder and I have regretted not using the money I used to buy shitcoin those few years to buy Bitcoin, by now I would have made more profit than ever.

The emergency fund is also another important thing. Life some few days ago I had an emergency call of my sister in-law who was critically ill and was rushed to the hospital, there was no money to commence treatment, no body had emergency fund with them for the treatment to commence so I have to use my emergency fund to take care of the bills without touching my bitcoin HODLing till she came back from the hospital, everyone was asking me where I got that amount from? I was just saying its the lord doing. Where as it was my emergency fund. I now realise the true meaning of emergency fund and how important it is. I am looking up to receive my weekly payments to still replace my emergency fund let it not be dry to the extent of touching my bitcoin holding when it's not yet time for usage.

[JayJuanGee]

Before I got into the digital asset space, my uncle was going on and on about having this shitcoin and all that. Trading was his thing and he was in more valleys than peaks, and HODLing didn't make any sense to him. Well in Bitcoin, HODLing is how to do it.

Everyone is always stuck to his level of understanding about something, until they see someone that will bring them to limelight. and I think you will be in a better position to tell your uncle that trading is not profitable. You must prove some important fact to let him know how important holding is. although I know it might be difficult to change his way of doing things or perspective. But it's a matter of choice. Like me initially when I came to this forum newly I came with the notion of trading and holding shitcoin hoping for a greater days ahead not knowing I was waiting for worst days ahead. And as time passes I realised I was fooling myself all around this year's. Untill I started holding bitcoin . Although I nearly gave up on bitcoin when the price has dip, I would have even sold it off. but as I was coming to this thread I was motivated to keep HODling which I did. Now my btc portfolio is growing impressively and am happy as a holder and I have regretted not using the money I used to buy shitcoin those few years to buy Bitcoin, by now I would have made more profit than ever.

The emergency fund is also another important thing. Life some few days ago I had an emergency call of my sister in-law who was critically ill and was rushed to the hospital, there was no money to commence treatment, no body had emergency fund with them for the treatment to commence so I have to use my emergency fund to take care of the bills without touching my bitcoin HODLing till she came back from the hospital, everyone was asking me where I got that amount from? I was just saying its the lord doing. Where as it was my emergency fund. I now realise the true meaning of emergency fund and how important it is. I am looking up to receive my weekly payments to still replace my emergency fund let it not be dry to the extent of touching my bitcoin holding when it's not yet time for usage.

That can be part of the problem and the dilemma of actually having money because there are so many folks that are not very responsible with their own money, and they have no reserves, and when we build up a bitcoin investment - not only do we end up having money in bitcoin, but then we need to maintain an emergency fund and reserves so that we will not have to dip into our BTC investment.. so it could be a bad thing to deplete your emergency fund based on something that might not exactly even be your own emergency, and then end up experiencing your own emergency prior to your being able to replenish your emergency fund... .. so yeah a lot of times it can feel as if th e emergency fund, reserves and float are just sitting around and not really doing anything.. but then all of a sudden when you need them, then they can surely end up coming in handy.

[Sim_card]

Before I got into the digital asset space, my uncle was going on and on about having this shitcoin and all that. Trading was his thing and he was in more valleys than peaks, and HODLing didn't make any sense to him. Well in Bitcoin, HODLing is how to do it.

Everyone is always stuck to his level of understanding about something, until they see someone that will bring them to limelight. and I think you will be in a better position to tell your uncle that trading is not profitable. You must prove some important fact to let him know how important holding is. although I know it might be difficult to change his way of doing things or perspective. But it's a matter of choice. Like me initially when I came to this forum newly I came with the notion of trading and holding shitcoin hoping for a greater days ahead not knowing I was waiting for worst days ahead. And as time passes I realised I was fooling myself all around this year's. Untill I started holding bitcoin . Although I nearly gave up on bitcoin when the price has dip, I would have even sold it off. but as I was coming to this thread I was motivated to keep HODling which I did. Now my btc portfolio is growing impressively and am happy as a holder and I have regretted not using the money I used to buy shitcoin those few years to buy Bitcoin, by now I would have made more profit than ever.

The emergency fund is also another important thing. Life some few days ago I had an emergency call of my sister in-law who was critically ill and was rushed to the hospital, there was no money to commence treatment, no body had emergency fund with them for the treatment to commence so I have to use my emergency fund to take care of the bills without touching my bitcoin HODLing till she came back from the hospital, everyone was asking me where I got that amount from? I was just saying its the lord doing. Where as it was my emergency fund. I now realise the true meaning of emergency fund and how important it is. I am looking up to receive my weekly payments to still replace my emergency fund let it not be dry to the extent of touching my bitcoin holding when it's not yet time for usage.

That can be part of the problem and the dilemma of actually having money because there are so many folks that are not very responsible with their own money, and they have no reserves, and when we build up a bitcoin investment - not only do we end up having money in bitcoin, but then we need to maintain an emergency fund and reserves so that we will not have to dip into our BTC investment.. so it could be a bad thing to deplete your emergency fund based on something that might not exactly even be your own emergency, and then end up experiencing your own emergency prior to your being able to replenish your emergency fund... .. so yeah a lot of times it can feel as if th e emergency fund, reserves and float are just sitting around and not really doing anything.. but then all of a sudden when you need them, then they can surely end up coming in handy.

All my life, I never knew that emergency funds should alway be in place in whatever investment one wants to go into. It was when I came to this topic that I saw how important it is for everyone investing or not investing to have an emergency funds should incase we face lost of job. I only knew how to save to achieve something of value.

Emergency funds is very important for any investment, especially bitcoin investment that is all about building it as a new investor, and making sure that you continue buying to keep on accumulating constantly. If there is no emergency funds available, all the aim of growing and building your bitcoin portfolio will be a waste, because it will be as if you are gambling, and you will later sell from your bitcoin even when the price is below your entry point because you are faced with an emergency that must be taken care of. Let's say you don't have any emergency funds but you are investing in bitcoin, and along the line you have a car accident, you must threat yourself and pay for your hospital bills to continue with life. That investor will sell his bitcoin to pay for his bills. This is why emergency funds is the back bone to a long term bitcoin investment, and that is what can make us successful in our bitcoin journey. So do not neglect emergency funds because it is important as the investment per se.

[Samlucky O]

Before I got into the digital asset space, my uncle was going on and on about having this shitcoin and all that. Trading was his thing and he was in more valleys than peaks, and HODLing didn't make any sense to him. Well in Bitcoin, HODLing is how to do it.

Snip

That can be part of the problem and the dilemma of actually having money because there are so many folks that are not very responsible with their own money, and they have no reserves, and when we build up a bitcoin investment - not only do we end up having money in bitcoin, but then we need to maintain an emergency fund and reserves so that we will not have to dip into our BTC investment.. so it could be a bad thing to deplete your emergency fund based on something that might not exactly even be your own emergency, and then end up experiencing your own emergency prior to your being able to replenish your emergency fund... .. so yeah a lot of times it can feel as if th e emergency fund, reserves and float are just sitting around and not really doing anything.. but then all of a sudden when you need them, then they can surely end up coming in handy.

I am so greatfull and happy we have someone like you @jayjuanGee in this BTT forum. All thanks to you for changing our mindset and also creating a new version of us, to see the brighter ways of doing things. Earlier before now I always find it difficult to save. I always have that instinct that tells me to use any money to do something before I will spend it. Though it might not be extravagant spending but just to use it and do an important thing that will deprive me of having and emergency fund,  or having it on Bitcoin but now I have learnt to control my spending habits I can save in the bank and keep in bitcoin without having a second thought running through my mind to spend.

[Marvelockg]

so it could be a bad thing to deplete your emergency fund based on something that might not exactly even be your own emergency, and then end up experiencing your own emergency prior to your being able to replenish your emergency fund... .. so yeah a lot of times it can feel as if th e emergency fund, reserves and float are just sitting around and not really doing anything.. but then all of a sudden when you need them, then they can surely end up coming in handy.

if not that we are not always truthful to ourselves, some of the things we call emergency situations are things we can cope with or figure out an alternative way of meeting them without necessarily going into using our emergency funds or worse of, using our holdings. But the thing is that because you have some reserve funds, the urge to use it will always come and even when you don't want to, it will appear as though you're hurting yourself when you have the means not to.  Like so many persons have pointed out in this thread, it's good to define what kind of event to qualify as an emergency one so you won't always run and make use of your emergency funds when an emergency situation hasn't occured and when emergency finally happens you're left with no option and your holding becomes the only option available.

An emergency funds is basically a shield that protect your investment from being tampered with and whenever you allow minor event to take out your emergency funds, you've exposed your holding to being tampered with whenever a real unexpected event happens.

[ginsan]

this is absolutely true.
At every stage of your Bitcoin accumulation journey, there are major factors that could stand to bother you.

At the start, it's more of sorting out the right plan to work with which is basically a function of  your financial strength and you might just need to decide if you're financially strong enough to buy in bulk or settle with the DCA method and when doing this, there is really no need to bother about any sort of emotional or psychological whatever. You have to face the visible fact that your finance is either strong enough to buy in bulk or isn't.

At the point when you've accumulated a good amount of satoshis in your portfolio and then the market is bullish and you're also at a good profit, this is when you've got to work on your emotional and psychological prowess that will help you become disciplined and patient enough to building a good portfolio. It's not always an easy thing to keep your emotions in check when you're in profit and what some persons would normally do is to sell out some of there holding and reinvest it whenever there is a DIP. But the issue has always been if the market will go as DIP as they would normally expect it to and the obvious answer is , even if it doesn't, as long as you're buying to hold for much longer period of time, you're definitely going to be in profit.

Of course, there are many obstacles that we have to overcome in long-term investment planning, including the mentality that we have to be ready and also have the confidence to Hold with it in any condition. Of course, many people make mistakes in long-term investments because they can't afford to hold it for long and there are also other things that influence their decisions. For this reason, focus on our planning and don't think about making profits in the short term.

So in this case, to build a portfolio in the long term we have to really focus on what we do. Financial flows must be the main concern to be managed so that the purchases we plan can take place smoothly.

[adultcrypto]

so it could be a bad thing to deplete your emergency fund based on something that might not exactly even be your own emergency, and then end up experiencing your own emergency prior to your being able to replenish your emergency fund... .. so yeah a lot of times it can feel as if th e emergency fund, reserves and float are just sitting around and not really doing anything.. but then all of a sudden when you need them, then they can surely end up coming in handy.

if not that we are not always truthful to ourselves, some of the things we call emergency situations are things we can cope with or figure out an alternative way of meeting them without necessarily going into using our emergency funds or worse of, using our holdings. But the thing is that because you have some reserve funds, the urge to use it will always come and even when you don't want to, it will appear as though you're hurting yourself when you have the means not to.  Like so many persons have pointed out in this thread, it's good to define what kind of event to qualify as an emergency one so you won't always run and make use of your emergency funds when an emergency situation hasn't occured and when emergency finally happens you're left with no option and your holding becomes the only option available.

An emergency funds is basically a shield that protect your investment from being tampered with and whenever you allow minor event to take out your emergency funds, you've exposed your holding to being tampered with whenever a real unexpected event happens.

I once became too complacent with handling my emergency funds and this almost made me get into problems that would have made me touch my investment. As I managed to navigate through the situation, I became more intentional about my emergency funds and I sincerely admonish anyone going into investment of any form to always consider setting up emergency funds if the investment will require some time to mature. It is not enough to set up this emergency funds, effort must also be made to put in discipline so that the emergency funds will not be used for something else that is not an emergency because there is this urge to spend money that comes sometimes which if not resisted can make on spend on frivolities.  It is also important to clarify that emergency funds does not take the place of basic necessities that the investors needs even while being invested in Bitoin. Those are the primary responsibilities of every investors and must be the first thing to put in place before talking aout investing.

[I_Anime]

An emergency funds is basically a shield that protect your investment from being tampered with and whenever you allow minor event to take out your emergency funds, you've exposed your holding to being tampered with whenever a real unexpected event happens

yeah you are right, not having an emergency funds is like opening a gate for the urge of one to always tamper with his investment. That why one need a good sources, Inorder to accumulate bitcoin and  same time have some emergency (in covering expected or unexpected expenses). Because having emergency funds would make your accumulation more effective without ever thinking of withdrawing your investment when is still premature or haven't gotten to the point of taken  profit .

In scenario of one not having an emergency funds, when there's is an emergency that requires money to be solved (mostly unexpected emergency), one won't be able to fight or go against that urge of tampering with his investment (bitcoin holding) , so he would have no option rather to run to his investment (in the place of emergency funds) , that why one need to work harder inorder to secure a good sources to be able to accumulate more quantity of bitcoin efficiently. And same time putting aside some funds for emergency purposes. So one need to know that accumulating bitcoin ain't easy , it requires principles, determination, dedication and some other stuff related,
But one thing is for sure Bitcoin always finds the way to make all your efforts worth it.

[Falconer]

-snip-

The aim of being prepared to allocate funds for Bitcoin investment is so that every investor can be comfortable enough in investing and not be like someone who is pressed for time because they have to keep thinking about their lack of capital. Apart from that, any ideas that each investor will use are also aimed at gaining profits that previously might not have been possible with just a small amount of capital. So this really needs to be understood very well for smooth investment and also for smooth accumulation of more Bitcoin when the price decline starts to occur.

Each investor has different budget sources, some only have a small amount, others have a large budget. It doesn't matter where the budget comes from, investment strategy must certainly be their priority. DCA allows you to have a budget to buy when prices correct, it will increase your investment portfolio instead of a lump sum.

The budget will of course affect how much return you will get when prices rise high, while the strategy will allow you to get a better return even if you have a low budget. Besides, not everyone has a stable budget, so there's no need to force yourself to be consistent as long as you can buy at another time.