Buy the DIP, and HODL!

[teamsherry]

If you are poor and you feel that your monthly income is small for you to invest, just be serious and try to see how you can invest, you will see that if you are serious, you will begin to look into your income and expenses to see how you can squeeze out some extra funds from there, and that is when you will find out that you can have some extra funds in which you can use to invest, or because you are so serious to invest, you will cut down some expenses to have extra cash. Investing helps a poor or average man to have financial management compare to when he is not investing. This is why bitcoin is the best asset that a poor man can invest in as long as he has income, because he can buy bitcoin with little amount based on his own discretionary income.

It is only those that don't have a job or their income cannot take care of their monthly needs that cannot invest in bitcoin only if they look for additional income before they will. I pity for those rich people that don't want to invest in bitcoin because they will regret in the latter.

You have indeed say the right truth. People feel they are poor and they cannot afford to invest but when you look at their daily activities you found out they live lavish lives when they could limit those expenses and channel some money into investment. To be a successful investor one needs to avoid and abstain from certain things thus maintaining discipline. Apart from not having money left to invest there are serious negative effect of alcohol, smoking and other activities' on our investment.

Yeah that's true because is actually what most of the people who are poor normally feel when the fact is that their is no limits to the amount of Bitcoin they can possibly accumulate in the future through the little they have with consistent accumulation, however their is a possibility that those that even claim to be poor use to spend a lot of money on gambling, partying and spending too much on drinking, so if perhaps they could use some of those money to start investment it will do them more good because if we consider or sum the total money they normally spent on gambling it could be enough to start a weekly or monthly accumulation of Bitcoin but however is quite unfortunate that most people do not realize how much they are spending on the things that doesn't add value to their lives while their are more other opportunity they could diversify those money.

If poor people take a small amount of their minimum income as a strategy to accumulate bitcoins through DCA investment, it is possible to make a small profit at the end of the year. At the same time his special experience about DCA increased and gradually attracted investment.
Your idea that poor people waste money partying or drinking is not correct. In fact, many of the poor are so poor that they have to struggle to get enough food for themselves. However, there are classifications among the poor and as you describe there are many poor who are intentionally poor and have no say in reality. But awareness must be raised that habit of depositing bitcoins through DCA strategy needs to be developed to improve their fortunes and above all for the family.

There are many ways that a poor person can also invest in bitcoin, the money must not come in once, it might be money that he has to save up and then invest, if its too small to invest at once, it's better to invest what you have no matter how little it is than to sit back doing nothing cause bitcoin ain't waiting for nobody before it increases in price, if you are earning so little it's necessary that you should have a better income to take most advantage of investing but that can come right after you are already building with what you have little by little.

I've also noticed that anytime I don't have money to get something and you have to procastinate to a time I have more income, I also end up never buying cause if you look at it, no one is satisfied or feels that what he is earning is enough, so what I do is I start putting in money I to it at once and that way I'll get there faster. The issue is mostly not the strength of our income, it is from our cashflow management or at times we have so many expenses we have accumulated and we have to deal with them and then we see bitcoin as something that is not so important, to me if it's important you would make room to invest in bitcoin no matter how little you can spare.

[Bravut]

I've also noticed that anytime I don't have money to get something and you have to procastinate to a time I have more income, I also end up never buying cause if you look at it, no one is satisfied or feels that what he is earning is enough, so what I do is I start putting in money I to it at once and that way I'll get there faster. The issue is mostly not the strength of our income, it is from our cashflow management or at times we have so many expenses we have accumulated and we have to deal with them and then we see bitcoin as something that is not so important, to me if it's important you would make room to invest in bitcoin no matter how little you can spare.

This is an announcement that I guess am not the only one exhausted to make it clear that we don't really need all the money from world bank before we invest, mehnn this is a gradual process driven with discipline and a Target. As you rightly said, it a matter of how we manage our cashflow system and aligning it with the amount we are willing and able to afford to invest in Bitcoin.

JJG, and other members have given measures on how that can be achieved, it doesn't necessarily mean about investing because price will pump but knowing the value of what you want to invest in.

[Miles2006]

Not everyone can afford to invest in BTC, due to lack of capital 

There is an important distinction related to the point that you seem to be wanting to make, which seems to be that you are missing some nuance in regards to what makes a person able or unable to invest.

There is some correctness that if a person lacks capital, then he may well not be able to invest into bitcoin or anything else, yet the more important point would be that a person's ability to invest in bitcoin or anything else relates to the extent to which he has discretionary income.   

So in that sense there is no requirement that anyone has any capital at all in order to invest into bitcoin, and so the main requirement is that a person has discretionary income - and sure, a person who has a lot of capital may well be able to invest into bitcoin by moving his capital from certain kinds of assets into bitcoin, so there could be exceptions to any proclamation - even though we already know that it is not required to have any capital to invest into bitcoin so long as you have discretionary, even though having capital could be another way to establish an investment into bitcoin.

but at least if you want and want to why not, and I agree with what you said about the DCA method which is intended for these people.

So are you admitting that there is no need for capital to invest into bitcoin?

But isn't it better to collect money first for some people who are unlucky or whose jobs are below minimum wage.

With something like bitcoin, many times it is better to get started as soon as possible, especially once you have figured out that you have discretionary income.   

Now you might have a lot of messiness in your cashflows and your psychology, so you may well need to get some of those things in order, yet I would not presume that it mis necessary to get your finances and psychology in order prior to getting started in your investment into bitcoin, unless your situation happens to be so bad that you are not even able to figure out with any level of confidence whether you actually have discretionary income or not. 

Even though a large number of people might have a lot of complications in their finances and perhaps even lacking in their abilities to manage their finances very well.  Most likely an overwhelming number of folks should be able to tell you wether they have $100 per week or maybe $10 per week that they would be able to spare or throw away (meaning that it is extra and not needed to cover their expenses).    When folks have really small amounts of extra income and a lot of disorganization in their finances, it is likely more important that they start out more slowly and that they also spend time getting their shit figured out, but that still may well not justify waiting rather than getting started right away with some small amount of discretionary income that can be figured out. 

If there is no way to establish the existence of discretionary income, then those people need to make sure that they have discretionary income before they can start to invest into bitcoin.

Because if they try to invest even if it's only a little bit of what they can afford, wouldn't it hamper their finances more

Yes... if they have figured out that they actually do not have discretionary, then the should not be investing into bitcoin, because if they were to do that they would be gambling rather than investing.  They need to be able to put the money into bitcoin and have a certain level of confidence that they are not going to need such money for 4-10 years or longer and also understand the risk that the amount that they put in could go to zero (meaning they could lose up to 100% of the amount that they put into bitcoin, so they have to be ready, willing and able to accept that possibility, and if they are not able to do that, then their finances and psychology is not ready to invest into bitcoin).

, and would it be more risky for their own lives, because investing is not far from the risks they will face. Isn't it better to be slow but sure to minimize something that is not wanted?

No it is not better to be slow.  It is better to figure your shit out, and either you have disposable income or not.  If you have disposable income, then it is better to get started investing into bitcoin as soon as possible and figure out some kind of a system. 

Otherwise, if you figured out that you either do not have disposable income, then you should realize that you are not able to invest into bitcoin until you are sure that you have disposable income and then you can ONLY invest into bitcoin up to 100% of the amount of your disposable income, but if you are not sure if you have disposable income then you cannot invest into bitcoin.  I would not call that waiting, but instead you either have disposable income or you do not, and if you do not have it you cannot (or should not) be investing into bitcoin, and if you are not sure if you have disposable income or not, then you are likely in the same situation of not having it.. because you need to be clear that you actually have disposable income in order to invest into bitcoin, otherwise you are gambling and not investing.

It is very clear that one's inability to invest in bitcoin or whatever it is that is prioritized is capital. Because there are constraints with one's inability to invest. The inability is based on his job. Very different from people who are capable because basically people who are capable because there is the ability and there are no obstacles to investing. it is very clear what you say the main requirement is additional income, but if in the position of someone who works only in one job with a salary below the minimum wage. And there is no additional income, will it be very inhibiting to start as soon as possible and not collect money first.

For some people there may be those who invest without capital, but for others or most people the main requirement is capital, on the contrary I have not found people who invest without capital, in my opinion, I do not agree with the absence of capital, because the slightest thing, the will or desire of a person can be said to be capital, to be confident.

If a person is only focused on one job, and there is no additional income or perhaps additional income each country is different. If for example there is additional income and each country is different from the additional income, is it possible to start as soon as possible, it will be very risky, and in my opinion if we start investing in BTC by starting 1 year or maybe 3 years to come, I think it's a good decision too, because seeing from the first BTC came out and until now it is still stable.

Collecting money at first as you mentioned will only ruin your investment cause at that early stage of investment you should not bother about profit for needs or making quick money rather you should build your investment gradually even if it takes time not minding the time duration. Bitcoin investment gives room for long term planning so an investor who find it difficult can still plan and invest. Just a quick question, how sure can you tell if bitcoin price will remain in a stable range for the next 2 or 3 years, honestly speaking the best time to buy bitcoin is now so you should take the opportunity and invest. The mistake most people get when it comes to capital and investment mostly bitcoin investment is just simple, it’s never a must to start with huge amount at first or generally, you just need to start with what you have at the moment and gradually you’ll make progress as time goes on.

[Mr.suevie]

This is why it is not good to be waiting and piling up your funds in fiat when you already have an additional income which you can use to invest in bitcoin without a problem and hodli for long. It is never risky because you started earlier than waiting, and you are on a long term bitcoin journey using DCA strategy which will reduce the risk in bitcoin investment due to its volatile nature. You should also note that the price that you are buying today, might not be the price you will next next year because bitcoin price increases overtime, and this is why the investors who bought early are in great profit. The cheaper the price the   easier for you to accumulate more bitcoin, and the higher the price of bitcoin the harder it becomes to accumulate more bitcoin. Don't wait in poverty instead of fighting your way out of poverty with investing in bitcoin immediately you have the money

Waiting and piling up the cash in fiat before you buy is totally the wrong approach if you ask me because Bitcoin isn't a stable coins and you can't expect the price to sit around and wait for you to gather all the money first before you now use when you are satisfied with the money for investment. The right thing to do is simply to keep striving to accumulate just like you have stated with the little earning so that you can meet up with atleast the lower price because you can't tell when the price might go up or even down.

[ginsan]

~~
And, of course, if he is investing somewhere close to 100% of his discretionary income, he might be sacrificing driving a nicer car or maybe living in a less luxurious house or maybe going out to eat less (or perhaps not at all), so there could be some current sacrifices and reductions in quality of life based on investing into bitcoin, even though the investment into bitcoin would not be taking away from the basic expenses, yet the investor still chooses what he considers to be basic expenses or not.

Of course, that could happen if they push for a bigger budget than they can afford, meaning if they choose to sell the car, choose to sell land or whatever, but that's not a good thing to do. Because if they are beginners doing this then I think they will quickly become mentally depressed if one day the price drops 50% and they are not ready to accept the situation of market changes. So it would be good for them to save on their regular monthly expenses, for example they spend $2000 per month so a good step would be to save their spending budget to $1500 and $500 of that save they can allocate to investing in bitcoin.

Forcing 100% of their income just to invest in bitcoin is certainly not a good step because it can have fatal consequences if they are not ready to face the change in life from being rich to living a simpler life. Maybe it would be better to only allocate 10% and the remaining 90% for their living needs.

It is better to take the investment journey in a relaxed manner without forcing all their money to be in bitcoin. However, if they have become millionaires from investing in Bitcoin since the beginning or starting in 2011, of course they will be able to read their cash flow by continuing to move aggressively with every purchase they make. The reason is very logical because they have bought bitcoin at $200 or cheaper so they will not feel shaken when the price drops 50% because their cheap buying investment will certainly not have a bad impact on their portfolio. But of course all of this is no longer foreign and some people have learned from many mistakes so they will do the best from their initial planning in investing for the long term.

[JayJuanGee]

[edited out]

It is very clear that one's inability to invest in bitcoin or whatever it is that is prioritized is capital. Because there are constraints with one's inability to invest. The inability is based on his job. Very different from people who are capable because basically people who are capable because there is the ability and there are no obstacles to investing. it is very clear what you say the main requirement is additional income, but if in the position of someone who works only in one job with a salary below the minimum wage. And there is no additional income, will it be very inhibiting to start as soon as possible and not collect money first.

No it is not very clear.  You are repeating points that I already addressed, which is that you seem to be referring to a lack of disposable income that some people might have, which is a more accurate way of framing the situation why some folks might not be able to invest into something like bitcoin.

But whatever, have fun keeping on repeating yourself in different ways.. or maybe arguing with yourself.

For some people there may be those who invest without capital, but for others or most people the main requirement is capital, on the contrary I have not found people who invest without capital, in my opinion, I do not agree with the absence of capital, because the slightest thing, the will or desire of a person can be said to be capital, to be confident.

Being able to invest into something like bitcoin is called having disposable income. There is no need for capital, as I already mentioned several times.. but you want to argue about it.

If a person is only focused on one job, and there is no additional income or perhaps additional income each country is different. If for example there is additional income and each country is different from the additional income, is it possible to start as soon as possible, it will be very risky, and in my opinion if we start investing in BTC by starting 1 year or maybe 3 years to come,

If you have disposable income, then there is no need to wait... but if you do not, then maybe you have to wait until you do... yet I would not presume that a person has to wait merely because his/her disposable income is small, which seems to be what you are saying in a kind of dumb-ass, repetitive and stubborn way.

I think it's a good decision too, because seeing from the first BTC came out and until now it is still stable.

I am not sure what you are talking about here.  Bitcoin is not stable, and sure, historically it has tended to go up, but going up is not guaranteed which is part of the reason that a person who invests in bitcoin should be investing from 1) his disposable income or 2) from having capital that he can invest into bitcoin.. but the 2nd option is not required, even though it is one way of being able to justify investing into bitcoin.

[edited out]

[edited out]

Maybe that's his method in conceptualizing the investment he's going to run and the risks he's going to take. In terms of investing there are so many ways that everyone will be different in carrying out the concept, and the goal is the same to seek profit in investing. in this case after I read @reredmi's post he tried to collect money first for the beginning he was going to invest, maybe because his income was low, but I can't confirm that or guess what he wants, I think he will get a lot of risks if he starts investing with that concept.

Yes.. Reredmi896 is arguing and making dumb points about a need for capital, which is not true, and even though he seems to get the idea of disposable income, he seem to believe (assume without any real basis) that a low amount of disposable income means that waiting is a better strategy rather than getting started in regards to bitcoin investing... Sim_card largely pointed out Reredmi896's inadequate thinking.. so I doubt that Reredmi896 needs to be defended when he is spouting out waiting as if it were a strategy. .and also proclaiming that you have to have capital to invest into bitcoin, which truly is not true, either, but he (Reredmi896) wants to continue to argue about that incorrect and mostly wrong thinking.... which truly does not mean that he can choose not to invest and sure, Reredmi896, can choose waiting as his own strategy and he can have fun staying poor, too... hahahahaha

-snip-

I sometimes feel that everyone who hears something about cryptocurrencies will search for the next thing that he or she believes will explode 10000x. It is the feeling that they missed the train and now find themselves hunting that one coin nobody else knows about. In other words, probably 90% of new investors decide against going down the solid route and DCA into Bitcoin overtime right from the start.

The worst is when you get into hopping from Bitcoin into shit coins and try to do that repeatedly, hoping to double your money. In the very, very beginning I have given some shit coins a shot and while it is exciting to see some of them go up, the markets for them very quickly dry out or some of the "dev wallets" get flash dumped and you are screwed.

Yes, I quite understand it, and of course you have explained it well.
There are several common reasons why some new investors own altcoin compared to bitcoin, one of which is that the price of bitcoin is very expensive compared to altcoin price.

that is a dumb idea, and not even worth repeating here.

They seem eager to buy a lot (meme or otherwise) that they find profitable, but at the same time they fail to understand that bitcoin can also give them returns if they know how to manage their investment budget. As mentioned, DCA will help them earn more bitcoin over time, but their big ambition for altcoin profit mean some of them don't want bitcoin in their portfolio.

Again?  Why do we need to talk about what shitcoiners do in this thread?  It is not even on topic.. which even if they have some smart ideas or dumb ideas, it seems to be a distraction to even talk about it.

The proof lies in the data for Bitcoin. There are threads that explain in a very solid way where somebody would be if they had investors X amount over time in a certain interval. It is mind-blowing and only in hindsight do more people understand how powerful DCAing would have actually been for them even with small amounts.

Of course DCA is good and would be better if used consistently for accumulation.

O.k. this part is correct.. DCA in regards to bitcoin, not shitcoins.. Shitcoins are more likely to be in and out type adventures rather than long term, unless you limit your involvement in them to no more than 10% of your bitcoin investment, then at least you have kept your distraction into them under some kind of boundaries.

~~And, of course, if he is investing somewhere close to 100% of his discretionary income, he might be sacrificing driving a nicer car or maybe living in a less luxurious house or maybe going out to eat less (or perhaps not at all), so there could be some current sacrifices and reductions in quality of life based on investing into bitcoin, even though the investment into bitcoin would not be taking away from the basic expenses, yet the investor still chooses what he considers to be basic expenses or not.

Of course, that could happen if they push for a bigger budget than they can afford, meaning if they choose to sell the car, choose to sell land or whatever, but that's not a good thing to do. Because if they are beginners doing this then I think they will quickly become mentally depressed if one day the price drops 50% and they are not ready to accept the situation of market changes. So it would be good for them to save on their regular monthly expenses, for example they spend $2000 per month so a good step would be to save their spending budget to $1500 and $500 of that save they can allocate to investing in bitcoin.

Forcing 100% of their income just to invest in bitcoin is certainly not a good step because it can have fatal consequences if they are not ready to face the change in life from being rich to living a simpler life. Maybe it would be better to only allocate 10% and the remaining 90% for their living needs.

You seem to be arguing and quibbling with the main points that I was making, which was to rebutt your assertion that investing does not give up anything in the current time, which it likely does, and if it does not then you may well be investing way too whimpily.

Sure your level of aggressiveness is a choice, yet your earlier blanket statement that investing into bitcoin does not contribute to giving anything up seems to be factually wrong, whether a person is investing whimpily or aggressively, and even if he ONLY invests $10 per month, he is still giving something up by dedicating that amount to bitcoin rather than buying a couple extra cups of coffee... or however he might have chosen to otherwise spend or use or save the $10.

It is better to take the investment journey in a relaxed manner without forcing all their money to be in bitcoin.

Who says?  People can choose their own level of aggressiveness, and yeah they can structure their investment into bitcoin so that they are not stressed, but they don't have to.. The level of aggressiveness or whimpiness is completely discretionary... which means each person can choose and such person may or may not have regrets later over how they choose to go about their level of aggressiveness of their bitcoin investment.

However, if they have become millionaires from investing in Bitcoin since the beginning or starting in 2011, of course they will be able to read their cash flow by continuing to move aggressively with every purchase they make. The reason is very logical because they have bought bitcoin at $200 or cheaper so they will not feel shaken when the price drops 50% because their cheap buying investment will certainly not have a bad impact on their portfolio. But of course all of this is no longer foreign and some people have learned from many mistakes so they will do the best from their initial planning in investing for the long term.

Yeah sure the longer that someone has been in bitcoin, they have greater chances of having had gotten to a place of relaxation in terms of being in profits, but still some guys had made a lot of mistakes and even continue to make similar mistakes.. so yeah, it sometimes can be difficult to learn from your mistakes or even recognize some of the mistakes  and ways to get away from continuing to make similar kinds of mistakes. .. especially traders.

[FinePoine0]

Waiting and piling up the cash in fiat before you buy is totally the wrong approach if you ask me because Bitcoin isn't a stable coins and you can't expect the price to sit around and wait for you to gather all the money first before you now use when you are satisfied with the money for investment. The right thing to do is simply to keep striving to accumulate just like you have stated with the little earning so that you can meet up with atleast the lower price because you can't tell when the price might go up or even down.

That's right, collect cash first before buying Bitcoin, of course this is very wrong, we can skip buying when the price is down and it would be better if we continue to make purchases whenever we have funds that we can use to invest in Bitcoin and do it consistently in order to achieve satisfactory investment targets from the results of the investments we make.

Make a plan of how you will invest, if investing with accumulated money you must wait for the dip. But if you keep investing regularly using DCA method then you can invest monthly or weekly with your income or salary. So it only depends on the investor whether his investment is long term or short term, but Bitcoin investment is better to be long term. Because the longer the Bitcoin investment, the higher the benefits and the lower the risk.

[Barikui1]

Waiting and piling up the cash in fiat before you buy is totally the wrong approach if you ask me because Bitcoin isn't a stable coins and you can't expect the price to sit around and wait for you to gather all the money first before you now use when you are satisfied with the money for investment. The right thing to do is simply to keep striving to accumulate just like you have stated with the little earning so that you can meet up with atleast the lower price because you can't tell when the price might go up or even down.

That's right, collect cash first before buying Bitcoin, of course this is very wrong, we can skip buying when the price is down and it would be better if we continue to make purchases whenever we have funds that we can use to invest in Bitcoin and do it consistently in order to achieve satisfactory investment targets from the results of the investments we make.

Make a plan of how you will invest, if investing with accumulated money you must wait for the dip. But if you keep investing regularly using DCA method then you can invest monthly or weekly with your income or salary. So it only depends on the investor whether his investment is long term or short term, but Bitcoin investment is better to be long term. Because the longer the Bitcoin investment, the higher the benefits and the lower the risk.

Yes it's true, I totally agree to your sentiment bro, it's more ideal to invest in Bitcoin when you have a source of income coming in on a regular basis, because on that note, you can accumulate Bitcoin true the dca accumulating strategy, according to how much you can afford while having your emergency funds kept aside,  but if you decide to invest in Bitcoin only when you have funds, you wouldn't be consistent in your accumulating process and that might hampers you in having a good stash of Bitcoin in your possession, and you might also temper with it, if you don't have a source of income that can take care of your basic needs, in your daily lives.

So  in all this, it's very much necessary that as you are investing in Bitcoin through the DCA method, you should have it at the back of your mind that it's only for long term purpose, because it's only that way, you can fully reap the full dividend of your Bitcoin investment.

[Smilevictorobinna]

But one thing we have to know about investment is this, "the higher the risk, the higher the profitability. So without risk there is no investment.

This is the statements mostly use in shit coins . We all know that bitcoin has it's own Risk but to me bitcoin is only consider risky to those who normally focus on short-term profits. But when holding bitcoin ( for long-term) as same time you're minimising the risk in investing in bitcoin, because bitcoin is actually more safer to invest on than those  shit coins that are damn risky . So when you have good principles towards bitcoin, you would secure a good and safe investment that will help you.

For example those that bought bitcoin during its ATH. When it was around the price range of $60k, bitcoin undergo a great dip and alot of investors mostly those who are in for short-terms profit endup selling their bitcoin due to fear or thinking they have cut Their losses. While those with good principles and with the mindset of long-term investment keep on holding and accumulating more quantity of bitcoin with bitcoin accumulation strategies like DCAing. And hold till now, and now we can see that bitcoin price is around the price range of $67k with a small difference of hitting $70k and such users that kept holding their asset would be in a great and nice profit now due to the DCA strategies and other strategies use by the user in accumulating. and now a lot of people are engaging on long term hodling because it has been seen as profitable.

[Y3shot]

I've also noticed that anytime I don't have money to get something and you have to procastinate to a time I have more income, I also end up never buying cause if you look at it, no one is satisfied or feels that what he is earning is enough, so what I do is I start putting in money I to it at once and that way I'll get there faster. The issue is mostly not the strength of our income, it is from our cashflow management or at times we have so many expenses we have accumulated and we have to deal with them and then we see bitcoin as something that is not so important, to me if it's important you would make room to invest in bitcoin no matter how little you can spare.

This is an announcement that I guess am not the only one exhausted to make it clear that we don't really need all the money from world bank before we invest, mehnn this is a gradual process driven with discipline and a Target. As you rightly said, it a matter of how we manage our cashflow system and aligning it with the amount we are willing and able to afford to invest in Bitcoin.

JJG, and other members have given measures on how that can be achieved, it doesn't necessarily mean about investing because price will pump but knowing the value of what you want to invest in.

Those that really have bitcoin in mind to invest will always do it normal how small it is, but for those who are not willing to invest will always find one excuse to give. Most times it is not as if one is very buoyant but when their is something that needs to be done we try our best to make sure it is done, this is not because the money is at hand but it was done because interest and passion. If you even check some people that are investing in Bitcoin, they are not investing in Bitcoin because they have excess of money but they understand that with the little they have as income it is still possible to take a little portion from it.  The truth is that if one does not have that understanding of how investing in Bitcoin is important it will be a difficult thing do even if you have high income. Most of us that are investing in Bitcoin it is not as if we are earning much but we understand what can be gotten fro m Bitcoin if it is invested.  Their is nothing  too hard investing bitcoin. Removing 10% from every income you have is not a big deal, it may look low but by the time you accumulate this for sometime you would see you have done something great.  As for those who may think they do not have high income to invest bitcoin they can accumulate bitcoin,  this strategy has really helped so many people to acquire some bitcoin.

[Justbillywitt]

Waiting and piling up the cash in fiat before you buy is totally the wrong approach if you ask me because Bitcoin isn't a stable coins and you can't expect the price to sit around and wait for you to gather all the money first before you now use when you are satisfied with the money for investment. The right thing to do is simply to keep striving to accumulate just like you have stated with the little earning so that you can meet up with atleast the lower price because you can't tell when the price might go up or even down.

That's right, collect cash first before buying Bitcoin, of course this is very wrong, we can skip buying when the price is down and it would be better if we continue to make purchases whenever we have funds that we can use to invest in Bitcoin and do it consistently in order to achieve satisfactory investment targets from the results of the investments we make.

Make a plan of how you will invest, if investing with accumulated money you must wait for the dip. But if you keep investing regularly using DCA method then you can invest monthly or weekly with your income or salary. So it only depends on the investor whether his investment is long term or short term, but Bitcoin investment is better to be long term. Because the longer the Bitcoin investment, the higher the benefits and the lower the risk.

 but if you decide to invest in Bitcoin only when you have funds, you wouldn't be consistent in your accumulating process and that might hampers you in having a good stash of Bitcoin in your possession,

When you said investing when you have funds, will make someone not being consistent with his accumulation, it got me a bit worried, because it is when you have money that you can be able to invest in bitcoin. I don't see how investing in bitcoin when you have money will hamper someone from having good stash of bitcoin, because it money that one need to invest in bitcoin. Even if we have source of income, it is when the money is readily available that we can invest in bitcoin, because bitcoin is not sold for free in the market. Consistency comes from doing something regularly when you are able to do it provided you don't quit halfway. Let's not just think in one direction or just think on what we are used to and see it as the standard way of doing things. Let's not see people who are not doing DCA every week or month as people who are not doing the right thing. There are people who do their DCA bi weekly, monthly or two months interval, it all depends when you have money with you that you want to invest. If if you think that they are slow it doesn't matter, what matters the most is the consistency here, but the most important thing is when your money is available, when you have money, because you can't get bitcoin from exchanges without money. There is no rush in bitcoin accumulation here, it is better to do it slowly than do nothing at all.

[teamsherry]

-snip-

I sometimes feel that everyone who hears something about cryptocurrencies will search for the next thing that he or she believes will explode 10000x. It is the feeling that they missed the train and now find themselves hunting that one coin nobody else knows about. In other words, probably 90% of new investors decide against going down the solid route and DCA into Bitcoin overtime right from the start.

The worst is when you get into hopping from Bitcoin into shit coins and try to do that repeatedly, hoping to double your money. In the very, very beginning I have given some shit coins a shot and while it is exciting to see some of them go up, the markets for them very quickly dry out or some of the "dev wallets" get flash dumped and you are screwed.

Yes, I quite understand it, and of course you have explained it well.
There are several common reasons why some new investors own altcoin compared to bitcoin, one of which is that the price of bitcoin is very expensive compared to altcoin price.

that is a dumb idea, and not even worth repeating here.

I really don't see any reason why people still consider altcoin diversification as a thign, what is the need for doing that when supposedly all the altcoin are just an inferior idea of what bitcoin is, and worse of all its lame thinking that they is any safety net in putting money there just incase something goes wrong with bitcoin, IMO If something were to happen to bitcoin that would definitely affect every other altcoin in the same time.

Yeah we can't drag people off their will to invest in shitcoins, but that shouldn't be the main portfolio, bitcoin price is an excuse with DCA anyone can own bitcoin and still get rich out of it, I think shitcoins is an excuse to gamble and shows how short term an investor really is .

[arwin100]

-snip-

I sometimes feel that everyone who hears something about cryptocurrencies will search for the next thing that he or she believes will explode 10000x. It is the feeling that they missed the train and now find themselves hunting that one coin nobody else knows about. In other words, probably 90% of new investors decide against going down the solid route and DCA into Bitcoin overtime right from the start.

The worst is when you get into hopping from Bitcoin into shit coins and try to do that repeatedly, hoping to double your money. In the very, very beginning I have given some shit coins a shot and while it is exciting to see some of them go up, the markets for them very quickly dry out or some of the "dev wallets" get flash dumped and you are screwed.

Yes, I quite understand it, and of course you have explained it well.
There are several common reasons why some new investors own altcoin compared to bitcoin, one of which is that the price of bitcoin is very expensive compared to altcoin price.

that is a dumb idea, and not even worth repeating here.

I really don't see any reason why people still consider altcoin diversification as a thign, what is the need for doing that when supposedly all the altcoin are just an inferior idea of what bitcoin is, and worse of all its lame thinking that they is any safety net in putting money there just incase something goes wrong with bitcoin, IMO If something were to happen to bitcoin that would definitely affect every other altcoin in the same time.

Yeah we can't drag people off their will to invest in shitcoins, but that shouldn't be the main portfolio, bitcoin price is an excuse with DCA anyone can own bitcoin and still get rich out of it, I think shitcoins is an excuse to gamble and shows how short term an investor really is .

Really a bad idea especially if they think about they can get quick profits with this alt since they might just burn their capital especially that everything on altcoins are more unpredictable and we don't know if there's a chance that we can recover if sudden negative scenario will come up. Also if they think about investing on it for long term well more risk will come for the side of people doing that since we know that altcoins posses huge risk so they should erase the thoughts about having and go directly with bitcoins if they really want to get higher chance to get good profits on their investment.

It maybe hard to influence people to think about dropping their thoughts about investing on shitcoins but hopefully they would realize shitcoins is just a waste of time and can give their stress. Bitcoin proves a lot of things that's why its better for investor to think about having bitcoin first on their portfolio since this could give them more higher chance to get realistic profit especially if they aim is to save up some good amount/volume for their future.

[Rockstarguy]

Really a bad idea especially if they think about they can get quick profits with this alt since they might just burn their capital especially that everything on altcoins are more unpredictable and we don't know if there's a chance that we can recover if sudden negative scenario will come up. Also if they think about investing on it for long term well more risk will come for the side of people doing that since we know that altcoins posses huge risk so they should erase the thoughts about having and go directly with bitcoins if they really want to get higher chance to get good profits on their investment.

It maybe hard to influence people to think about dropping their thoughts about investing on shitcoins but hopefully they would realize shitcoins is just a waste of time and can give their stress. Bitcoin proves a lot of things that's why its better for investor to think about having bitcoin first on their portfolio since this could give them more higher chance to get realistic profit especially if they aim is to save up some good amount/volume for their future.

One thing I like about cryptocurrency is that when people have refused to go the right way by investing in Bitcoin that is reliable, they later learn from their mistakes which they may not repeat doing things the wrong way. Bitcoin is a good and reliable investment but some investors fails in investing Bitcoin because they think investing  altcoins the price is cheap and they can quickly gain profit from it quick, this is what people have always believed and many people have regretted for believing this. No matter how much and how far the price of bitcoin has reached it is still profitable to invest in bitcoin at anytime.  The market of bitcoin is different from altcoins, altcoin can just show a slight movement in the market and never increase again. But we can see how much the price of bitcoin has gotten to and it is still profitable when you invest in it.

Their is no need in investing in altcoins because it is something you can never predict when it comes to risk, it is preferable to invest I bitcoin.  Investing in Bitcoin you don't need to be scared about if something is going to happen to the market.  I can say most investors investing altcoin don't even have peace of mind of what they are investing because they aren't sure of their investment but their goals is just to make quick profit. One of the criteria of a real investment is investing in what you are sure of that it is profitable and not taking so much risk that anything can happen,  this is not what we call investment,  it is just the same as gambling.

[Nheer]

For some people there may be those who invest without capital, but for others or most people the main requirement is capital, on the contrary I have not found people who invest without capital, in my opinion, I do not agree with the absence of capital, because the slightest thing, the will or desire of a person can be said to be capital, to be confident.

Being able to invest into something like bitcoin is called having disposable income. There is no need for capital, as I already mentioned several times.. but you want to argue about it.

When you invest in bitcoin it means you have disposable money and in that case i also will not regard it as capital so don’t understand why he keeps arguing about this, I think maybe because he lacks understanding about it but i don’t get why a junior member rank will want to argue with a legendary rank with experience? Keeping a cool head and being loyal is the best way to gain knowledge and not argue even when you feel you are right.

before investing, you must have a focus of a longer time horizon or duration, you must have steady flow income generation that will help you have some reserved fund to be able to DCA weekly and be able to provide for other necessary expenses. and yet you don't feel like you are even investing in bitcoin.

These are key factors to be considered before investing because investing without a plan is just like driving aimlessly without a preferred destination. When investing one must carefully plan out is investment strategy like the amount of money to be invested at regular intervals when adopting DCA strategy, the duration of his investment (holding for a long period of time usually the best and most profitable duration to consider), also one needs to map out when to take out profits like a certain percentage to be reached to take out profit. Taking profits doesn’t mean it the end of your accumulation process, profits need to be taken to prevent the risk of losing your profits when price corrections happen so profits are taken to be reinvested and not lavished, probably diversifying while still sticking to your regular bitcoin investment plan. If your investment is well planned while having a steady flow of income one will easily take eyes off their bitcoin investments.

However, considering bitcoin investment as a long-term investment with ups and downs without neglecting the volatility, the DCA strategy was brought up to give flexibility in investment either your capital. Is high or low does not matter so fat you are going to be holding for a long and with this higher capital could be invested on an interval basis giving the advantage to balance the investment in terms of its ups and downs ( this can only be achieved over a long period).

DCA strategy has really brought about flexibility in investment and has helped to create opportunity for even the average earners. You don’t have to wait to save up for a long time to be able to afford bitcoin investment and this strategy is not being utilized by just low and average income earners but also even high income earners utilize the DCA strategy because it makes investing possible regardless of bitcoin price either high or low.

[Riginac111]

What do you think that he's the benefit of holding Bitcoin and what do you think that is the meaning of accumulating Bitcoin so for me there is not different between holding bitcoin and accumulating Bitcoin, we define Bitcoin in different participative and holding of Bitcoin will define it in different ways so I know very well that is good for we to hold and also accumulate it is the same thing for my own understanding

[DanWalker]

For some people there may be those who invest without capital, but for others or most people the main requirement is capital, on the contrary I have not found people who invest without capital, in my opinion, I do not agree with the absence of capital, because the slightest thing, the will or desire of a person can be said to be capital, to be confident.

Being able to invest into something like bitcoin is called having disposable income. There is no need for capital, as I already mentioned several times.. but you want to argue about it.

When you invest in bitcoin it means you have disposable money and in that case i also will not regard it as capital so don’t understand why he keeps arguing about this, I think maybe because he lacks understanding about it but i don’t get why a junior member rank will want to argue with a legendary rank with experience? Keeping a cool head and being loyal is the best way to gain knowledge and not argue even when you feel you are right.

Why can't lower-ranking members debate with higher-ranking members? Does the forum have any regulations about that? And that shows you lack respect for newbies, they don't have the right to learn, don't have the right to express their investment opinions?

I agree that those who have been in the markets for a long time will have more experience, but everyone has a different view on investing and just because they don't have the same view as us doesn't mean they are wrong and we are right. Furthermore, sometimes newbies don't have too much understanding and arguing is a good thing because it shows they are trying to learn. Maybe right now they don't understand and are stubborn with their views, but maybe later they will thank us when they understand everything.

[KeenanEl19]

Waiting and piling up the cash in fiat before you buy is totally the wrong approach if you ask me because Bitcoin isn't a stable coins and you can't expect the price to sit around and wait for you to gather all the money first before you now use when you are satisfied with the money for investment. The right thing to do is simply to keep striving to accumulate just like you have stated with the little earning so that you can meet up with atleast the lower price because you can't tell when the price might go up or even down.

I have thought about doing this, with the income I have every month I will set aside some money to save and invest, of course not forgetting to meet my needs. Indeed, if you wait for the money to accumulate and then allocate it to Bitcoin, that's possible, but I don't think everyone can hold cash in fiat consistently, because there are unexpected needs or expenses and the money in the pile will always be used.

Of course, we won't know whether the price will rise or fall in the future, but what is clear is that we hope for the best, namely that the price will rise.

[avp2306]

For some people there may be those who invest without capital, but for others or most people the main requirement is capital, on the contrary I have not found people who invest without capital, in my opinion, I do not agree with the absence of capital, because the slightest thing, the will or desire of a person can be said to be capital, to be confident.

Being able to invest into something like bitcoin is called having disposable income. There is no need for capital, as I already mentioned several times.. but you want to argue about it.

When you invest in bitcoin it means you have disposable money and in that case i also will not regard it as capital so don’t understand why he keeps arguing about this, I think maybe because he lacks understanding about it but i don’t get why a junior member rank will want to argue with a legendary rank with experience? Keeping a cool head and being loyal is the best way to gain knowledge and not argue even when you feel you are right.

Why can't lower-ranking members debate with higher-ranking members? Does the forum have any regulations about that? And that shows you lack respect for newbies, they don't have the right to learn, don't have the right to express their investment opinions?

I agree that those who have been in the markets for a long time will have more experience, but everyone has a different view on investing and just because they don't have the same view as us doesn't mean they are wrong and we are right. Furthermore, sometimes newbies don't have too much understanding and arguing is a good thing because it shows they are trying to learn. Maybe right now they don't understand and are stubborn with their views, but maybe later they will thank us when they understand everything.

I don't also get the point why he bring up the rank discussion since it doesn't mean that if they have high rank account in this forum automatically they are more knowledgeable than those people which have low rank accounts. This is not the measurement of intelligence since not all can spend a lot of time in this forum since maybe they are in focus outside and just visiting here when they need something especially seeking for updates regarding on new trends. I see a lot of knowledgeable low rank account that discuss a lot of technical matters about bitcoin. So hopefully there's no other other discriminating opinion towards them since we are here to share our knowledge and contribute to the topic discuss in this thread.

If they don't like the opinion shared by low rank member then I guess its better to share the correct insights so that they could also learn something that there's something need to  correct on their first opinion posted here.

[pusaka]

What do you think that he's the benefit of holding Bitcoin and what do you think that is the meaning of accumulating Bitcoin so for me there is not different between holding bitcoin and accumulating Bitcoin, we define Bitcoin in different participative and holding of Bitcoin will define it in different ways so I know very well that is good for we to hold and also accumulate it is the same thing for my own understanding

These are interrelated things, because collecting cannot be separated from the holding that we do. Every time we collect we will definitely hold it, but every time we hold it, we don't necessarily accumulate the amount of bitcoin, it's as simple as that in my opinion.
The benefits of holding bitcoin should be common knowledge because many have explained it, but I will try to explain one of the benefits of holding bitcoin, in short, we can make a profit.
Meanwhile, accumulating or collecting bitcoins is something we do to have more bitcoins in our wallet over time. and as we all know, this is what we often call the DCA strategy.
It is a good choice when we can continue to accumulate the number of bitcoins in the wallet