Btcdeybodi
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June 16, 2024, 03:14:11 AM |
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[edited out]
I agree with you one can't wait trying to get all the knowledge before investing, me as a newbie I don't have all the knowledge about Bitcoin all I have now is still the basic knowledge and I have already started accumulating Bitcoin using the DCA method. The more you wait the more you lose just imagine I was still waiting trying to get all the knowledge about Bitcoin I won't have accumulated the little I did now, so there's no point in waiting get the basic knowledge and start your accumulation journey. Bitcoin is a good store of value, even if Bitcoin isn't worth anything today, it doesn't matter at all because the future is brighter than now. Why did I say what I said? I said this because I believe that Bitcoin is not something we should buy today and sell next month, it is something that an investor should hold onto dearly cy long and I also understand that the more an investor holds onto Bitcoin, that's the more knowledge the investor gets so, without putting the knowledge to practice (by investing) the investor will just stay without adding more knowledge to the ones he/she has already learned before. The only way one can get full knowledge about Bitcoin is by investing, you will get to understand very well what it means when Bitcoin's price increases and when it decreases, only knowledge will not give us experience, so if an investor that hasn't invested in Bitcoin needs more knowledge, then he/she should invest and learn more from the investment side. So my follow newbies get the basic knowledge and start your Bitcoin accumulation journey so you won't regret waiting. All of that sounds correct, and you should get more knowledge about bitcoin and yourself if you spend 4 years or longer accumulating bitcoin, learning about bitcoin and potentially adjusting (and/or tweaking) your various BTC accumulation (and/or BTC maintenance) strategies along the way, so maybe after 4 years or more of accumulating bitcoin, you will be in a much better position to both assess how your bitcoin accumulation had been playing out and whether you need to make further adjustments to your strategy at that point or just to continue with what you had already been doing. Exactly, gaining more knowledge and being very observant during one's accumulating years is very necessary because it is assumed that after 4 years one must have undergone thorough study of how Bitcoin investment works so for someone that have been using the DCA to buy Bitcoin at regular intervals, can decide either to increase their DCA depending on his capacity through his income in-flow because if one has started earning higher and sees the need to increase their DCA amount or have some reserved funds incase of a DIP then it is also left for such investor to begin to use different accumulating strategy like the lump summing as these strategies helps in building huge portfolios and owning a high amount of Bitcoins unlike the regular DCAing. Bitcoin investment is just about being able to understand the activities of the market at a particular period of time.
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synchronym
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These are different strategies in accumulating Bitcoin. Some investors use DCA strategy, others prefer buying the DIP strategy, while some DCA and also reserves funds to also buy during the DIP and some accumulate with lump-sum (Rich folks). All these approach are decisions made individually with what suits our bitcoin investment goals. It is not only rich folks that buy bitcoin with the DCA strategy; even a newbie can start his bitcoin investment with a lump-sum strategy in some situations. For instance, if a newbie starts accumulating bitcoin late, he or she can decide to do a lump sum buy on bitcoin to accumulate a good quantity of stash before the bitcoin price is too high, and he or she will continue accumulating bitcoin with the DCA strategy. If a new bitcoin investor has a lump sum of money it can be easy for him to accumulate more stash in a short period of time. Basically if you want to invest in Bitcoin and get more profit, you should buy a lump sum. In addition DCA strategy allows you to regularly accumulate bitcoins which is the bulk of disposable income. If your floating money is sufficient. You may find it difficult to get dips in terms of investment so you can start accumulating bitcoins through DCAing. For a long time. For those who are new to bitcoin investing, I must say that before investing in bitcoins, you need to acquire enough knowledge about bitcoins. When it comes to Bitcoin investment we must have a long term plan. We can invest by checking the market with our long term plan. Of course the purpose for which we are going to invest must be our success. Many times it is seen that there are many new investors who lose their patience a little bit they have to invest in Bitcoin patiently if they can invest in the literature of patience they will definitely be one of the successful investors in the future. Many times it can be seen that many big investors lose patience, so we should not lose patience. If we can invest with patience and check the market with a long-term plan, we can make a considerable amount of profit by recruitment and that will make us more interested in investing. But if we do not have a long-term plan for Bitcoin. If we plan little girls, if we invest hastily then we will face loss so we must always have a long term plan in investing. DCA strategy method is very positive for Bitcoin.
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Uhwuchukwu53
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★Bitvest.io★ Play Plinko or Invest
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June 16, 2024, 06:09:07 AM Merited by JayJuanGee (1) |
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These are different strategies in accumulating Bitcoin. Some investors use DCA strategy, others prefer buying the DIP strategy, while some DCA and also reserves funds to also buy during the DIP and some accumulate with lump-sum (Rich folks). All these approach are decisions made individually with what suits our bitcoin investment goals. It is not only rich folks that buy bitcoin with the DCA strategy; even a newbie can start his bitcoin investment with a lump-sum strategy in some situations. For instance, if a newbie starts accumulating bitcoin late, he or she can decide to do a lump sum buy on bitcoin to accumulate a good quantity of stash before the bitcoin price is too high, and he or she will continue accumulating bitcoin with the DCA strategy. The believe that Bitcoin buying, accumulating, or investment strategy are only for the rich are those who speak on ignorance, there is no strategy of Bitcoin investment that is design or allocated to the poor, all strategies is available for everyone who felt is good for himself, all this strategies are just like market products that has close substitute your individual make their choices depending on what it might seem to be a favourable while running the investment, I always puzzle those that raise issue if DCA design for the poor how limited they are in knowledge of understanding that ni strategy is made for the poor but every investor that find it favourable for him or her. Assuming this is market products there always remain a product that individual go for most despite having a close substitute that doesn't make other less value or those that buy the once that most people don't go for poor it all about individual choice. The Major reason many prefer DCA strategy is that it gives room to start small if your considering a lumps sum where the money may be huge it may kill the moral of investment but DCA make it more easier that you will invest gradually and make it huge with the stress and feeling of hie huge the money is, if one is arguing that Bitcoin is for the rich because of usage of lump sum I will not argue much reason because nit everyone can invest huge immediately mostly newbie's because lump sum required huge ordinarily Bitcoin investment and strategy is for everyone one but the area of lump if your not financially competent you can't run into it and the money been huge kill some interesting if newbie who might felt that it's not for them that is why most say it's for the rich but DCA allow all kinds of level of investor both the rich and the poor the investment must not be huge like lump sum it's a gradual process if your financial ok you can still make it big no restrictions.
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Julien_Olynpic
Legendary
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Merit: 3590
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June 16, 2024, 06:14:27 AM Merited by JayJuanGee (1) |
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Of course, each person must decide for himself how reasonable it is to hold bitcoins. But overall, holding Bitcoin seems to be a very good thing for fighting inflation. Of course, Bitcoin is unlikely to grow as quickly and rapidly as it did in 2009-2013, but it will help in the fight against inflation. You know, inflation is a beast that never sleeps and constantly eats away at your savings. But if you got into the industry to turn your 1 year's savings into the equivalent of 10 years of income, then I doubt that Bitcoin is the best vehicle for such transformations. Over time, Bitcoin will most likely fluctuate in a multi-year flat pattern.
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Barikui1
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June 16, 2024, 09:47:15 AM |
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Of course, each person must decide for himself how reasonable it is to hold bitcoins. But overall, holding Bitcoin seems to be a very good thing for fighting inflation. Of course, Bitcoin is unlikely to grow as quickly and rapidly as it did in 2009-2013, but it will help in the fight against inflation. You know, inflation is a beast that never sleeps and constantly eats away at your savings. But if you got into the industry to turn your 1 year's savings into the equivalent of 10 years of income, then I doubt that Bitcoin is the best vehicle for such transformations. Over time, Bitcoin will most likely fluctuate in a multi-year flat pattern.
Yes you are actually right on this, Bitcoin is one of those asset you stock your money in, just to fight inflation, because it's very much logical to save your money in anything that appreciate in value overtime, so as to fight inflation and Bitcoin is one of those asset, then talking of turning your one year savings to be as if it's an investment of 10 years old, I think I also share the same sentiment as you bro, because in other to be successful in your Bitcoin investment, you actually need to be a long term holder, not investing today and be expecting it to be very much profitable as if it's 10 years old, investment that was done a year earlier. That is why most newbies investors sell off their holdings, because they initially thought that buying Bitcoin would make them rich in a very short period of time, which is never the case, and at the end, they were disappointed because the only way to achieve such feat, it's to hold for a very long period of time.
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liasbaa
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Merit: 54
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June 16, 2024, 10:34:59 AM |
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Of course, each person must decide for himself how reasonable it is to hold bitcoins. But overall, holding Bitcoin seems to be a very good thing for fighting inflation. Of course, Bitcoin is unlikely to grow as quickly and rapidly as it did in 2009-2013, but it will help in the fight against inflation. You know, inflation is a beast that never sleeps and constantly eats away at your savings. But if you got into the industry to turn your 1 year's savings into the equivalent of 10 years of income, then I doubt that Bitcoin is the best vehicle for such transformations. Over time, Bitcoin will most likely fluctuate in a multi-year flat pattern.
That is why most newbies investors sell off their holdings, because they initially thought that buying Bitcoin would make them rich in a very short period of time, which is never the case, and at the end, they were disappointed because the only way to achieve such feat, it's to hold for a very long period of time. Newbie Bitcoin investors invest their precious margin only hoping to make a profit but without proper planning they can lose it. In this case, the greed for excessive profits may hurt him more as he may rush to sell his holdings when prices rise. But he should have held for longer and he could have taken double or triplets profit in return. But I think with time the new investors will learn the overall market situation and mature among them. For holding bitcoins for a long time.
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Roseline492
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June 16, 2024, 10:47:39 AM |
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For those who are new to bitcoin investing, I must say that before investing in bitcoins, you need to acquire enough knowledge about bitcoins.
Like I already mentioned in as much as getting knowledge about something or investment is very good but when we talk about Bitcoin is actually exempted from every other investment that requires so much knowledge before you can start operating on them so actually in terms of Bitcoin everything such as investment is made very easy to start investment without have to read so much book and watching YouTube videos just learn about it before going into it, for me I consider Bitcoin investment in terms of knowledge as a very flexible investment because as a beginner the more you are investing in Bitcoin that is how you are also learning and understanding more things about it. So let's not always sees knowledge as some sorts of mandatory thing that must be done before starting your Bitcoin journey. However below is a good Clarification and explanation made by @JayJuanGee concerning this knowledge people are so much emphasizing on, so you can read through to understand more about it. I doubt that anyone who is brand new to bitcoin needs to get too worked up about his/her entry point, especially since the presumption would be that someone who is brand new to bitcoin does not have any bitcoin, so therefore getting started would mean getting started by starting to buy bitcoin and perhaps figuring out some personal financial and psychological aspects rather than trying to figure out things related to BTC price moves or maybe even trying to figure out more technical aspects of bitcoin. Surely it can take people a decently long time to learn about bitcoin, so maybe to get started there might need to be some kind of initial belief that bitcoin is a good investment.. yet I have my doubts about that too.. since anyone should be able to adjust the size of his/her initial investment into bitcoin based on not having much knowledge and/or confidence in the beginning, yet learning more about bitcoin along the way so then as knowledge increases, more comfort might come towards investing more into bitcoin..
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Mayor of ogba
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June 16, 2024, 11:10:04 AM |
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That is why most newbies investors sell off their holdings, because they initially thought that buying Bitcoin would make them rich in a very short period of time, which is never the case, and at the end, they were disappointed because the only way to achieve such feat, it's to hold for a very long period of time.
This mostly happens to newbies who see bitcoin investment as what gives huge profits in the short term. Newbies who want to invest in bitcoin must know bitcoin is not a quick-to-get-rich scheme, so they will not use their whole money to invest in bitcoin. Because any investor who uses his or her whole money to invest in bitcoin, thinking that he or she will get rich soon, will likely sell his or her bitcoin investment to survive because there will be no money left to cover his or her living expenses and unexpected problems. Newbies should always accumulate bitcoin with the money they can afford to lose or the money they can do without for a long time. They should also make provisions for emergency funds, reserve funds, and floats to have good control over their bitcoin investment and also solve their unexpected problems whenever they arise.
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Kwarkam
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June 16, 2024, 11:22:02 AM |
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I doubt that anyone who is brand new to bitcoin needs to get too worked up about his/her entry point, especially since the presumption would be that someone who is brand new to bitcoin does not have any bitcoin, so therefore getting started would mean getting started by starting to buy bitcoin and perhaps figuring out some personal financial and psychological aspects rather than trying to figure out things related to BTC price moves or maybe even trying to figure out more technical aspects of bitcoin. Surely it can take people a decently long time to learn about bitcoin, so maybe to get started there might need to be some kind of initial belief that bitcoin is a good investment.. yet I have my doubts about that too.. since anyone should be able to adjust the size of his/her initial investment into bitcoin based on not having much knowledge and/or confidence in the beginning, yet learning more about bitcoin along the way so then as knowledge increases, more comfort might come towards investing more into bitcoin..
so then again, surely we have an issue that already exists with so many people not having any price exposure to bitcoin, so there are likely way more people who just need to get started in their investment journey into bitcoin and to study it as they go.. especially with something that is so likely to be promising like bitcoin and with so many people either having no exposure at all or maybe just a little bit of price exposure... so yeah, no coiners and or low coiners wait to your own peril.. and if you are already in bitcoin and you are suggesting that they wait rather than jumping in, you are not really helping them in terms of what they likely should be figuring out to do.. even while each person is responsible for his/her own finances and price exposure to something like bitcoin... which is that the only way to prepare for the possibility of UP prices in bitcoin is to have some BTC rather than waiting and/or studying the matter or trying to be overly strategic in terms of the need to just get started and at least to get some while studying the matter - or run the risk of just waiting and coming to bitcoin much later when bTC prices are likely to be much higher than they are now.. even though yeah, none of us knows exactly about the future prices of bitcoin.
You raise several excellent points about the importance of getting started with Bitcoin and building up knowledge and exposure gradually. You are absolutely correct that the primary concern for those just starting out should be establishing an initial belief in Bitcoin as a viable investment opportunity and beginning to educate themselves about the cryptocurrency. Many people remain hesitant to invest in Bitcoin, despite its potential, because they lack understanding or feel it's too complex. However, this can be mitigated by starting with a small initial investment, as you suggest.Indeed, the real risk for potential Bitcoin investors is waiting too long and missing out on the potential gains that could come from getting in early. As you mentioned, the only way to prepare for the possibility of Bitcoin prices going up is to actually own some. It's also important to remember that Bitcoin is still a relatively new and volatile asset class. As such, it's crucial for investors to diversify their portfolios and not put all their eggs in one basket. This way, even if Bitcoin doesn't perform as expected, they have other investments to fall back on. Newbies in Bitcoin should actually put their thoughts, not on the technicalities of Bitcoin, but mostly on their financial strengths, and reliability of the investment as every other investor should. New Bitcoin investors shouldn't worry too much about the technical intricacies of Bitcoin or trying to predict market movements in the short term. In the initial stages, it's much more important to focus on understanding the fundamentals of Bitcoin, such as its decentralized nature, limited supply, and potential use cases. While it's certainly beneficial to stay up-to-date on Bitcoin news and developments, trying to time the market or predict short-term price fluctuations can lead to unnecessary stress and potential mistakes. That's in my opinion that is. Well, there are other things a 'new coiner' should focus on though. I think lowcoiners should focus more on holding and stuff like that, instead of market predictions and chasing the wind.
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Marvelockg
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June 16, 2024, 11:36:14 AM Merited by JayJuanGee (1) |
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Of course, Bitcoin is unlikely to grow as quickly and rapidly as it did in 2009-2013, but it will help in the fight against inflation . You know, inflation is a beast that never sleeps and constantly eats away at your savings.
is the index for making this assumption a function of what's playing out these few months after this halving or you have another bases for assuming that Bitcoin would not do too well like it did in 2009 to 2013? If you're making a four year speculation on what Bitcoin price would likely be, isn't it better to compair it to the previous circle rather conspiring it to the period when Bitcoin was almost close to being valueless? And again, understand that it's deficult to make analysis on what played out at the time when Bitcoin value was close to nothing and what was more pupolar about it was that it had the ability to preserve wealth, help in carrying out international transaction and volatility was not of serious concern to her users at the time. The thing is, no one is even expecting such rate of bull to happen at this phase that Bitcoin has gotten to and that's the reason why we emphasize more about Buying enough Bitcoin now such that even if in the next four years it only gets to $200k, because you've bought a good amount of it, it places you in a good profit region. even with the few months i have been in this system, i have witnessed Bitcoin going from $35k to $73k and now revolving about $60k to $60k. Isn't that a literal 2x that it just had in less than no time ago? If one had gathered around $20k worth of Bitcoin some months again when Bitcoin was less than $39k, wouldn't it have given yhe person a profit of at least a $15k? Which other investments have the potential of yielding such worth within such space of time? But if you got into the industry to turn your 1 year's savings into the equivalent of 10 years of income, then I doubt that Bitcoin is the best vehicle for such transformations. Over time, Bitcoin will most likely fluctuate in a multi-year flat pattern.
generally, you don't get the dividend of an investment after putting in your resource for one year. It doesn't work that way even in real estate or in any other investment option you're considering and the reality is that for Bitcoin, apart from institutions, it's deficult for an individual to gather a good amount of Bitcoin that would place him in profit after one year of DCA. One year investment should be more like setting the foundation right and ensuring that you've made all the mistakes you're expected to make in terms of being consistent with your investment for the long term. And the thing is that even if at the end of the day Bitcoin don't become too bullish as most investors anticipate, you're certain that you've stored your value against the effect of inflation just like you've rightly said.
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Justbillywitt
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June 16, 2024, 01:38:40 PM Merited by JayJuanGee (1) |
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These are different strategies in accumulating Bitcoin. Some investors use DCA strategy, others prefer buying the DIP strategy, while some DCA and also reserves funds to also buy during the DIP and some accumulate with lump-sum (Rich folks). All these approach are decisions made individually with what suits our bitcoin investment goals. Of all the strategies waiting to buy bitcoin during DIP alone without applying DCA strategy might slow your bitcoin investment growth because the price might not DIP to your desired levels and timing the market can be stressful.
Any strategy can work in investing in Bitcoin as long as the investor is consistent and do not deviate from accumulating enough Bitcoin as well as holding it for long. The decisions will make is what matter at the end, whether we chose to sell along the line taking gains (which is not advisable as it may slow the accumulation process) or we choose to hold our investor for longer purposes (quite the best approach) and benefits. So why wait for the price to dip when you can be accumulating bitcoin through DCAing consistently to ensure steady accumulation, peradventure if it DIPs to your desired amount and you have extra bucks to buy fine but if it does not your accumulation through DCA continues to progress. DCAing can be done alone regardless of market fluctuations as long you keep it consistent but I don't see any need to wait for the DIP alone to accumulate bitcoin rather combining DCA with buy during DIPs can further enhance portfolio growth by taking advantage of lower prices when they occur.
Yeah, it is true, no matter what we do we should not stop buying Bitcoin as long as we have the funds or have decided to b allocating some percentage of our funds to investing in Bitcoin. Buying the dip is not bad at all but waiting for the dip is dangerous It may lead us to not invest in Bitcoin because we keep waiting and waiting for a dip, what it never comes. My approach to such situation is that i see every time as a dip which makes me buy more. The truth is that dip happens every time in the market, it is what the investor is expecting that's the might differs. The level of dip that the investor is looking for is what's going to determine if he/she is going to keep waiting for long. If you check the bitcoin price movement in coingecko or coinmarketcap, you will see that in every 24 hours there is always a high and the low, so if an investor is waiting for a dip it will be difficult to actually know what kind of dip he is looking for. Dip is a sharp drop in price of bitcoin, so if bitcoin was trading at $70,000 and within the next 2 hours it now starts trading at $68k or $65k that's a dip, although the investor who's waiting for the dip might not see it as a reasonable dip, but in the actual sense dip has really happened. So for me it's not just enough to say you are waiting for the dip without being specific on the level of dip you are waiting for.
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Kliss
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Activity: 224
Merit: 27
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June 16, 2024, 03:04:51 PM |
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These are different strategies in accumulating Bitcoin. Some investors use DCA strategy, others prefer buying the DIP strategy, while some DCA and also reserves funds to also buy during the DIP and some accumulate with lump-sum (Rich folks). All these approach are decisions made individually with what suits our bitcoin investment goals. Of all the strategies waiting to buy bitcoin during DIP alone without applying DCA strategy might slow your bitcoin investment growth because the price might not DIP to your desired levels and timing the market can be stressful.
Any strategy can work in investing in Bitcoin as long as the investor is consistent and do not deviate from accumulating enough Bitcoin as well as holding it for long. The decisions will make is what matter at the end, whether we chose to sell along the line taking gains (which is not advisable as it may slow the accumulation process) or we choose to hold our investor for longer purposes (quite the best approach) and benefits. So why wait for the price to dip when you can be accumulating bitcoin through DCAing consistently to ensure steady accumulation, peradventure if it DIPs to your desired amount and you have extra bucks to buy fine but if it does not your accumulation through DCA continues to progress. DCAing can be done alone regardless of market fluctuations as long you keep it consistent but I don't see any need to wait for the DIP alone to accumulate bitcoin rather combining DCA with buy during DIPs can further enhance portfolio growth by taking advantage of lower prices when they occur.
Yeah, it is true, no matter what we do we should not stop buying Bitcoin as long as we have the funds or have decided to b allocating some percentage of our funds to investing in Bitcoin. Buying the dip is not bad at all but waiting for the dip is dangerous It may lead us to not invest in Bitcoin because we keep waiting and waiting for a dip, what it never comes. My approach to such situation is that i see every time as a dip which makes me buy more. The truth is that dip happens every time in the market, it is what the investor is expecting that's the might differs. The level of dip that the investor is looking for is what's going to determine if he/she is going to keep waiting for long. If you check the bitcoin price movement in coingecko or coinmarketcap, you will see that in every 24 hours there is always a high and the low, so if an investor is waiting for a dip it will be difficult to actually know what kind of dip he is looking for. Dip is a sharp drop in price of bitcoin, so if bitcoin was trading at $70,000 and within the next 2 hours it now starts trading at $68k or $65k that's a dip, although the investor who's waiting for the dip might not see it as a reasonable dip, but in the actual sense dip has really happened. So for me it's not just enough to say you are waiting for the dip without being specific on the level of dip you are waiting for. Timing the market with those DIP can be a real challenge, the stress of watching and waiting for perfect entry point can definitely keep investors in their toes because the uncertainty of whether the price will continue to drop or bounce back. DIPs are like those sudden drops in price, Waiting to invest during DIP depends on how much the investor is ready to lump-sum. It's all about what you are comfortable with and how much you are willing to put in. If you're aiming for a big dip way below the current price, it might not always hit that mark or drop to your desired level. But if you're cool with a smaller dip and have the cash ready to put in, then that could work just fine for you. DCA is more Conservative approach involving regular investment regardless of market performance, DCA is like playing it safe with those regular investments, no matter what the market's up to. It's all about that steady approach to even out the bumps along the way. the beauty of DCA no need to stress about timing the market or constantly watching for that perfect moment to jump in. It takes the pressure off and lets you focus on steadily building your investment over time without all the market watching. Combination of the both strategies can be a great approach using DCA as the foundation and occasionally buying the dip with a portion of your funds. It's like having that steady, consistent approach with DCA while also seizing those opportunities when prices take a tumble.
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Frankolala
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June 16, 2024, 03:45:00 PM Merited by JayJuanGee (1) |
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These are different strategies in accumulating Bitcoin. Some investors use DCA strategy, others prefer buying the DIP strategy, while some DCA and also reserves funds to also buy during the DIP and some accumulate with lump-sum (Rich folks). All these approach are decisions made individually with what suits our bitcoin investment goals. It is not only rich folks that buy bitcoin with the DCA strategy; even a newbie can start his bitcoin investment with a lump-sum strategy in some situations. For instance, if a newbie starts accumulating bitcoin late, he or she can decide to do a lump sum buy on bitcoin to accumulate a good quantity of stash before the bitcoin price is too high, and he or she will continue accumulating bitcoin with the DCA strategy. If a new bitcoin investor has a lump sum of money it can be easy for him to accumulate more stash in a short period of time. Basically if you want to invest in Bitcoin and get more profit, you should buy a lump sum. In addition DCA strategy allows you to regularly accumulate bitcoins which is the bulk of disposable income. If your floating money is sufficient. You may find it difficult to get dips in terms of investment so you can start accumulating bitcoins through DCAing. For a long time. For those who are new to bitcoin investing, I must say that before investing in bitcoins, you need to acquire enough knowledge about bitcoin. A new beginner who wants to invest in bitcoin does not need to acquire enough knowledge before he starts investing. He should start right away as long has he has his money ready. The reason is the there is no time wasting in learning too much about bitcoin and use that to deprive your from starting your bitcoin journey right away. This is because you can be learning about bitcoin as you are accumulating and growing your bitcoin investment. You are already late to bitcoin so why do you still want to delay the opportunity that you have to start and grow your portfolio overtime. Bitcoin knowledge is complex and cannot be learnt in one year, and since you are on a long term journey, you only need to know the basic which is how to buy and which wallet to use that is safe to store your bitcoin, and how to transfer your bitcoin to your self custody wallet, cold storage is the best. Whatever area of bitcoin that you are interested in, you can learn it with ease and not in a rush because your are accumulating continuously. A new investor that has a good financial management and always save money in the bank or anywhere for a long time whenever he gets paid, will easily invest in bitcoin using DCA strategy by putting that amount of money that he is always saving into buying bitcoin regularly weekly or monthly consistently and persistently. For those new beginners who are not used to saving some part of their income, what they need is to make a proper calculation on how much of their discretionary income that they will use to buy bitcoin that will make them be able to invest regularly and increase their bitcoin portfolio overtime. It's also important to remember that Bitcoin is still a relatively new and volatile asset class. As such, it's crucial for investors to diversify their portfolios and not put all their eggs in one basket.
It is not important to diversify your bitcoin portfolio into other assest that is not in the same line with bitcoin. It is a matter of choice by that investor. You should also note that a new beginner in his bitcoin journey or a low coiner should not think of diversifying and should only focus on one investment which is building his bitcoin portfolio to a certain level before he diversify if he chooses to do so. If in the early age of your bitcoin journey, you start diversifying, you will lose focus on which investment to focus on and that will lead to a poor outcome in the long run due to lack of proper planning before diversifying.
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bestcoins1
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June 16, 2024, 03:54:40 PM |
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Yeah I will, and I'm happy that I started than waiting to know everything about Bitcoin before starting. Ever since I started investing I have known a lot of things and I know with time I will know more.
Initial experiments will always be a very valuable lesson for anyone and you are one of those people who can have more luck if you believe in investing in Bitcoin as long as possible. Because your task will not be difficult enough for this, namely just buying Bitcoin as much as you can while studying it over time for a deeper and more knowledge of Bitcoin. And you must be confident in the decision you make because you have found a pretty good way to invest in Bitcoin without any doubts or complaints that are not important for the long term.
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JayJuanGee
Legendary
Offline
Activity: 3892
Merit: 11107
Self-Custody is a right. Say no to"Non-custodial"
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June 16, 2024, 07:41:12 PM |
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[edited out]
I agree with you one can't wait trying to get all the knowledge before investing, me as a newbie I don't have all the knowledge about Bitcoin all I have now is still the basic knowledge and I have already started accumulating Bitcoin using the DCA method. The more you wait the more you lose just imagine I was still waiting trying to get all the knowledge about Bitcoin I won't have accumulated the little I did now, so there's no point in waiting get the basic knowledge and start your accumulation journey. Bitcoin is a good store of value, even if Bitcoin isn't worth anything today, it doesn't matter at all because the future is brighter than now. Why did I say what I said? I said this because I believe that Bitcoin is not something we should buy today and sell next month, it is something that an investor should hold onto dearly cy long and I also understand that the more an investor holds onto Bitcoin, that's the more knowledge the investor gets so, without putting the knowledge to practice (by investing) the investor will just stay without adding more knowledge to the ones he/she has already learned before. The only way one can get full knowledge about Bitcoin is by investing, you will get to understand very well what it means when Bitcoin's price increases and when it decreases, only knowledge will not give us experience, so if an investor that hasn't invested in Bitcoin needs more knowledge, then he/she should invest and learn more from the investment side. So my follow newbies get the basic knowledge and start your Bitcoin accumulation journey so you won't regret waiting. All of that sounds correct, and you should get more knowledge about bitcoin and yourself if you spend 4 years or longer accumulating bitcoin, learning about bitcoin and potentially adjusting (and/or tweaking) your various BTC accumulation (and/or BTC maintenance) strategies along the way, so maybe after 4 years or more of accumulating bitcoin, you will be in a much better position to both assess how your bitcoin accumulation had been playing out and whether you need to make further adjustments to your strategy at that point or just to continue with what you had already been doing. Exactly, gaining more knowledge and being very observant during one's accumulating years is very necessary because it is assumed that after 4 years one must have undergone thorough study of how Bitcoin investment works so for someone that have been using the DCA to buy Bitcoin at regular intervals, can decide either to increase their DCA depending on his capacity through his income in-flow because if one has started earning higher and sees the need to increase their DCA amount or have some reserved funds incase of a DIP then it is also left for such investor to begin to use different accumulating strategy like the lump summing as these strategies helps in building huge portfolios and owning a high amount of Bitcoins unlike the regular DCAing. Bitcoin investment is just about being able to understand the activities of the market at a particular period of time. You are not incorrect in anything that you are saying Btcdeybodi, yet you seem to make the process of the first four years of investing in bitcoin to sound more magnanimous than it may well be in terms of each of us likely coming from different places in terms of our investments and/or starting points, and so it could well be that someone comes into bitcoin and is brand new to any kind of investing into anything, and there are also folks who come into bitcoin and have already experienced other kinds of investing, so they are adding bitcoin into the mix of their already existing investments. .. so surely, I don't necessarily mind presuming and/or exploring cases in which people might be completely new to both investing and new to bitcoin, yet it still remains dangerous to presume too much of that without specifically pointing that out to be our presumptions.. and if we are getting to a place in which someone is brand new to both bitcoin and to investing, I really have my doubts about their making magnanimous progress within a 4 year timeline, even if 4 years might be enough time for them to really to get the hang of managing their finances (and psychology) and likely putting in place good systems of cashflow management, such as establishing and managing of an emergency fund, reserves and their monthly cash floats. Those kinds of practices can be decently established in 4 years, but not necessarily expecting to become rich or even to be in any kind of meaningful profits with your bitcoin investment. No matter what when we add some kind of a new investment into our practices, we are likely going to be attempting to learn along the way, and there may well be some aspects of bitcoin that we do not really realize that we do not know until we have been looking into bitcoin for a while and have studied and thought about it. I do consider that many times people overly emphasize how much we need to know about bitcoin in order to invest into it, when the more important learning points remain learning about ourselves, our finances, our psychology and how to manage our cashflow, including our bitcoin investment, even though surely there are some special aspects of bitcoin that are also worthy of learning - especially since bitcoin is a paradigm shifting asset class that is quite unique and it could take several years (beyond merely 4 years) to wrap our heads around having a better understanding in regards to how bitcoin differs from other investment options that we might have when we start in bitcoin or other investment opportunities that might come to us during our first 4 years involved in bitcoin.. and will we get distracted or not or will we be able to keep ourselves with some kind of a meaningful focus that is tailored to our personal circumstances. Your seeming presumption about making a lot of progress over 4 years of investing into bitcoin may well be overly presumptuous, since it could take 20 years or more for someone to really meaningful and significantly build up an investment (whether bitcoin or any other investment or even if we might consider that there are possibilities that our bitcoin investment could end up paying off in a shorter period of time than other places that we might put our value.. without guarantees, either), so we cannot necessarily presume that someone coming into bitcoin is going to become totally transformed into riches in 4 years, and it could even be the case that 4 years of investing into bitcoin has not actually realized a whole lot of progress (and maybe not even being in profits).. but still there could be values in terms of going through such a process of investing, learning about yourself and organizing yourself. Regarding your ideas of lump sum investing opportunities.. frequently the consideration of lump sum opportunities might come in the very beginning of an investment, but surely as you suggested, there could be opportunities for lump sum investing at various points down the road too.. yet at the same time, the longer that anyone is in bitcoin, then there would be a bit of a presumption that such person had already been building up his/her bitcoin stash including that how and the extent to which the bitcoin stash is being built up (in comparison to any other investments - including cash reserves that the person has) is going to help to inform that person in regards to future actions in terms of if some lump sum amounts of money might suddenly come available and then there might already be a system in place so that the lump sum extra amounts might be able to be plugged into bitcoin in full or perhaps in part.. and with discretion and insight regarding whether and how to employ lump sum investment opportunities if they might come later down the road rather than coming in the very beginning stages of a bitcoin investment period. [edited out]
It's also important to remember that Bitcoin is still a relatively new and volatile asset class. As such, it's crucial for investors to diversify their portfolios and not put all their eggs in one basket. This way, even if Bitcoin doesn't perform as expected, they have other investments to fall back on. That is not true. There is no need to diversify for the mere sake of diversification.. especially for newbies. Newbies in Bitcoin should actually put their thoughts, not on the technicalities of Bitcoin, but mostly on their financial strengths, and reliability of the investment as every other investor should.
You seem to be contradicting yourself a bit. Sure, newbies may well need to figure out their own finances and their psychology.. but you seem to be focusing also on some kind of need to understand the underlying investment (which is bitcoin in this case). New Bitcoin investors shouldn't worry too much about the technical intricacies of Bitcoin or trying to predict market movements in the short term. In the initial stages, it's much more important to focus on understanding the fundamentals of Bitcoin, such as its decentralized nature, limited supply, and potential use cases.
Maybe I kind of agree with you here.., even though you are saying it in a bit of a weird way. I think the main point is get started and learn along the way.. and also if there is discomfort with the amount of bitcoin knowledge, or even discomfort with the person's (newbie's) financial / psychological status, then adjust the investment amount into bitcoin downwardly while learning about bitcoin and to be able to feel that s/he is not overly investing in such a way that it is going to contribute towards either financial and/or psychological stress. While it's certainly beneficial to stay up-to-date on Bitcoin news and developments, trying to time the market or predict short-term price fluctuations can lead to unnecessary stress and potential mistakes. That's in my opinion that is. Well, there are other things a 'new coiner' should focus on though. I think lowcoiners should focus more on holding and stuff like that, instead of market predictions and chasing the wind.
Surely I agree with you in regards to the earliest of bitcoin accumulation stages which may be 4-10 years or longer depending on how aggressi vely that a newbie is able to invest into bitcoin, so yeah, maybe after several years investing into bitcoin, s/he might be able to start to consider market timing kinds of matters.. but yeah, in the very earliest of BTC accumulation stages there may well be hardly any need to really think too much about timing of the market... Let's say for example that a newbie gets started in bitcoin and decides to invest 10% of his/her salary into bitcoin and with that rate of investment, it is going to take right around 10 years to have 1 year's worth of salary invested into bitcoin, and so we cannot necessarily presume that bitcoin values are going to out pace the rate of inflation, so after 10 years we may well ONLY have an investment that is right around 1 year's worth of salary (expenses)... I have a hard time considering that someone that ONLY has around 1 year's salary invested into bitcoin would really be in a strong financial situation to start to time the market, even though surely folks are able to engage in their own analysis including it makes way more sense to analyze where someone is actually at after 4-10 years or longer rather than speculating about it, so in that regard, the analysis makes more sense when it is based on the data that accounts for where the person is actually at rather than where the person may or may not be.. and of course, we can also choose our level of aggressiveness in order to attempt to try to get to a stronger financial and/or psychological situation faster, and so for example a person who invests 25% of his salary into bitcoin is going to reach 1 years of salary in right around 4 years, so the time is drastically reduced when a person develops the capacity to invest higher percentages of his/her salary (by either increasing income or reducing expenses), and yeah, not all people are able to invest anywhere close to 25% of their salary, and there are so many folks who struggle (and/or are not ready, willing or able) to even invest somewhere in the ballpark of 10% of their salary into something like bitcoin.. so surely some folks might speculate that investing is easy, but it takes a quite a bit of efforts to both establish a system and then to employ such system while at the same time not being tempted to be dipping into one's investment prior to allowing their investment with the passage of time to continue to grow... poor people can really be tempted to dip into their investment portfolio and to borrow from it or to take profits or some other short-sighted nonsense that they might not realize and/or appreciate the negative consequences of their inabilities to refrain from dipping into their investment portfolio (whether bitcoin or anything else.. here we are talking about bitcoin, of course). [edited out]
You are already late to bitcoin so why do you still want to delay the opportunity that you have to start and grow your portfolio overtime. Bitcoin knowledge is complex and cannot be learnt in one year, and since you are on a long term journey, you only need to know the basic which is how to buy and which wallet to use that is safe to store your bitcoin, and how to transfer your bitcoin to your self custody wallet, cold storage is the best. Whatever area of bitcoin that you are interested in, you can learn it with ease and not in a rush because your are accumulating continuously. Probably the most basic thing to learn in the beginning is whether you have discretionary income or not.. and if you determine that you do, then you can figure out how much to buy, and so you have to figure out from where to buy it. Now if you are starting out by buying $10 to $200, then maybe there is no need to learn how to self-custody.. so self-custody and wallet use may well be learned later down the road... maybe even after already buying bitcoin for several months, maybe even a year.. depending on how much you might be buying and/or if it might become justifiable to hold your coins in self-custody. Don't get me wrong, I consider self-custody to be a very self-empowering part of bitcoin, but self-custody and/or learning about self-custody surely are not prerequisites to getting started in bitcoin. A new investor that has a good financial management and always save money in the bank or anywhere for a long time whenever he gets paid, will easily invest in bitcoin using DCA strategy by putting that amount of money that he is always saving into buying bitcoin regularly weekly or monthly consistently and persistently. For those new beginners who are not used to saving some part of their income, what they need is to make a proper calculation on how much of their discretionary income that they will use to buy bitcoin that will make them be able to invest regularly and increase their bitcoin portfolio overtime.
Surely, these are the basic ideas that any investor needs to know or learn in the beginning of investing, and surely some new investors might not already have good cash management practices or even clear ways of understanding the extent to which they have discretionary income and how to manage their discretionary income in such a way that they are able to invest with some of their discretionary income. It's also important to remember that Bitcoin is still a relatively new and volatile asset class. As such, it's crucial for investors to diversify their portfolios and not put all their eggs in one basket.
It is not important to diversify your bitcoin portfolio into other assest that is not in the same line with bitcoin. It is a matter of choice by that investor. You should also note that a new beginner in his bitcoin journey or a low coiner should not think of diversifying and should only focus on one investment which is building his bitcoin portfolio to a certain level before he diversify if he chooses to do so. If in the early age of your bitcoin journey, you start diversifying, you will lose focus on which investment to focus on and that will lead to a poor outcome in the long run due to lack of proper planning before diversifying. Yep.. bitcoin and cash are the two main categories in order to start investing, and surely if any beginner starts to get into other investments, then there may well both be a loss of focus and a dilution of funds... so surely as you stated Frankolala, there is no need to consider diversification as any kind of necessary prerequisite, and considering diversification surely can both be distracting and counter-productive for the newest of investors.
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1) Self-Custody is a right. There is no such thing as "non-custodial" or "un-hosted." 2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized. 3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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Obim34
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June 16, 2024, 07:45:14 PM |
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These are different strategies in accumulating Bitcoin. Some investors use DCA strategy, others prefer buying the DIP strategy, while some DCA and also reserves funds to also buy during the DIP and some accumulate with lump-sum (Rich folks). All these approach are decisions made individually with what suits our bitcoin investment goals. Of all the strategies waiting to buy bitcoin during DIP alone without applying DCA strategy might slow your bitcoin investment growth because the price might not DIP to your desired levels and timing the market can be stressful.
Any strategy can work in investing in Bitcoin as long as the investor is consistent and do not deviate from accumulating enough Bitcoin as well as holding it for long. The decisions will make is what matter at the end, whether we chose to sell along the line taking gains (which is not advisable as it may slow the accumulation process) or we choose to hold our investor for longer purposes (quite the best approach) and benefits. So why wait for the price to dip when you can be accumulating bitcoin through DCAing consistently to ensure steady accumulation, peradventure if it DIPs to your desired amount and you have extra bucks to buy fine but if it does not your accumulation through DCA continues to progress. DCAing can be done alone regardless of market fluctuations as long you keep it consistent but I don't see any need to wait for the DIP alone to accumulate bitcoin rather combining DCA with buy during DIPs can further enhance portfolio growth by taking advantage of lower prices when they occur.
Yeah, it is true, no matter what we do we should not stop buying Bitcoin as long as we have the funds or have decided to b allocating some percentage of our funds to investing in Bitcoin. Buying the dip is not bad at all but waiting for the dip is dangerous It may lead us to not invest in Bitcoin because we keep waiting and waiting for a dip, what it never comes. My approach to such situation is that i see every time as a dip which makes me buy more. The truth is that dip happens every time in the market, it is what the investor is expecting that's the might differs. The level of dip that the investor is looking for is what's going to determine if he/she is going to keep waiting for long. If you check the bitcoin price movement in coingecko or coinmarketcap, you will see that in every 24 hours there is always a high and the low, so if an investor is waiting for a dip it will be difficult to actually know what kind of dip he is looking for. Dip is a sharp drop in price of bitcoin, so if bitcoin was trading at $70,000 and within the next 2 hours it now starts trading at $68k or $65k that's a dip, although the investor who's waiting for the dip might not see it as a reasonable dip, but in the actual sense dip has really happened. So for me it's not just enough to say you are waiting for the dip without being specific on the level of dip you are waiting for. You are making sense, Dips are inevitable in the market and some investors are not ready to invest when the price of Bitcoin is stable, for example how we know the stability price of Bitcoin to range between $70k and above, so a few investors might actually want to see the price go below before they invest but from another view it is not always efficient most especially when the Dip the investor have in mind is far more below the stable price, he may keep on waiting for a longer time untill the price begin to surge further instead of declining to his expectations and will be left with no other option than to buy higher than expected.
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promise444c5
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Learning never stops!
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June 16, 2024, 07:46:32 PM |
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Timing the market with those DIP can be a real challenge, the stress of watching and waiting for perfect entry point can definitely keep investors in their toes because the uncertainty of whether the price will continue to drop or bounce back. DIPs are like those sudden drops in price, Waiting to invest during DIP depends on how much the investor is ready to lump-sum. It's all about what you are comfortable with and how much you are willing to put in. If you're aiming for a big dip way below the current price, it might not always hit that mark or drop to your desired level. But if you're cool with a smaller dip and have the cash ready to put in, then that could work just fine for you.
DCA is more Conservative approach involving regular investment regardless of market performance, DCA is like playing it safe with those regular investments, no matter what the market's up to. It's all about that steady approach to even out the bumps along the way. the beauty of DCA no need to stress about timing the market or constantly watching for that perfect moment to jump in. It takes the pressure off and lets you focus on steadily building your investment over time without all the market watching.
Combination of the both strategies can be a great approach using DCA as the foundation and occasionally buying the dip with a portion of your funds. It's like having that steady, consistent approach with DCA while also seizing those opportunities when prices take a tumble.
DCA itself give the advantage of buying the DIP so it's more than a single strategy you don't need to worry about catching the dips that mush as that is already covered in your regular intervals of investment plans, it just that sometimes a DIP might come short and we might have a new pump following, it's unlikely to determine those short DIPs so if an investor has a disposable fund to get it then he/she can do it without affecting his/her DCA plan within that period...
All of that sounds correct, and you should get more knowledge about bitcoin and yourself if you spend 4 years or longer accumulating bitcoin, learning about bitcoin and potentially adjusting (and/or tweaking) your various BTC accumulation (and/or BTC maintenance) strategies along the way, so maybe after 4 years or more of accumulating bitcoin, you will be in a much better position to both assess how your bitcoin accumulation had been playing out and whether you need to make further adjustments to your strategy at that point or just to continue with what you had already been doing.
Yeah I will, and I'm happy that I started than waiting to know everything about Bitcoin before starting. Ever since I started investing I have known a lot of things and I know with time I will know more. Glad you did... Remember learning never stops even when you think you know , there's will always be a need to learn more and refresh your knowledge by staying upto date, for example in technicals new stuffs are been added maybe to compliment or replace , sometimes serves as alternate to existings.. like in the case of address type [there're more alternates now to the previous] so using someone who knows how address works 10 years ago... coming to present , such person needs to refresh his knowledge to stay current with latest update [ in this case we can clearly affirm that Learning of bitcoin never stop] so keep learning.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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June 16, 2024, 08:14:12 PM |
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[edited out]
You are making sense, Dips are inevitable in the market and some investors are not ready to invest when the price of Bitcoin is stable, for example how we know the stability price of Bitcoin to range between $70k and above, so a few investors might actually want to see the price go below before they invest but from another view it is not always efficient most especially when the Dip the investor have in mind is far more below the stable price, he may keep on waiting for a longer time untill the price begin to surge further instead of declining to his expectations and will be left with no other option than to buy higher than expected. We might be going through consolidation for nearly 4 months, but I doubt that "stable" is any kind of an accurate way of describing BTC prices or BTC price dynamics.
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1) Self-Custody is a right. There is no such thing as "non-custodial" or "un-hosted." 2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized. 3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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Felicity_Tide
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cout << "Bitcoin";
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June 16, 2024, 08:23:45 PM Last edit: June 16, 2024, 09:36:21 PM by Felicity_Tide Merited by JayJuanGee (1) |
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I agree with you one can't wait trying to get all the knowledge before investing, me as a newbie I don't have all the knowledge about Bitcoin all I have now is still the basic knowledge and I have already started accumulating Bitcoin using the DCA method. The more you wait the more you lose just imagine I was still waiting trying to get all the knowledge about Bitcoin I won't have accumulated the little I did now, so there's no point in waiting get the basic knowledge and start your accumulation journey.
Bitcoin is a good store of value, even if Bitcoin isn't worth anything today, it doesn't matter at all because the future is brighter than now. Why did I say what I said? I said this because I believe that Bitcoin is not something we should buy today and sell next month, it is something that an investor should hold onto dearly cy long and I also understand that the more an investor holds onto Bitcoin, that's the more knowledge the investor gets so, without putting the knowledge to practice (by investing) the investor will just stay without adding more knowledge to the ones he/she has already learned before.
The only way one can get full knowledge about Bitcoin is by investing, you will get to understand very well what it means when Bitcoin's price increases and when it decreases, only knowledge will not give us experience, so if an investor that hasn't invested in Bitcoin needs more knowledge, then he/she should invest and learn more from the investment side. So my follow newbies get the basic knowledge and start your Bitcoin accumulation journey so you won't regret waiting.
As the replies keep getting deeper, I realize that there are two points of view most replies are coming from: 1. A situation where the investor has the will to keep investing and holding with no plans of stopping or no specific time to quit. 2. A situation where the investor has a specific time frame for investing and holding. Now let me make reference to these two. Aside from Bitcoin investment, there are certain people in the world today who make massive investments in several projects with the mindset of doing it just for future benefits. Mind you, just for future benefits doesn't mean they already have plans on how to spend or use their profits. The ability for them to make such long term investments is because they prioritize investment over profits, and not profit over investment. Let me give an example: Let's take a scenario of someone who has realized the future potential of Bitcoin and decides to invest in it. Due to how well this person understands long term investment, he or she won't have the urge or plan to tamper with the Bitcoin investment along the line because of the high priority placed on making investments only. Some of us here might have been in such situations, especially when it comes to alt. We sometimes invest massively but have no interest in spending it. We might even forget the seed phrase where those coins are kept. Being able to do this is not for everyone. The ability to make your present profit a lesser priority and your continuous investment a major priority would enable you to invest longer. As for the second point, the very moment an investor drafts a specific time frame for investing and holding, then getting quick profits becomes the number one priority rather than investing and holding for long term. I am not saying that making profits is bad. But what we choose to prioritize most will determine how long we can invest. When we prioritize consistent investment and holding over making profits, we tend to invest for long term. But, when we prioritize profits over consistent investment and holding, we tend to invest for only a short period of time, and any ATH might even end our investment.
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JayJuanGee
Legendary
Offline
Activity: 3892
Merit: 11107
Self-Custody is a right. Say no to"Non-custodial"
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I agree with you one can't wait trying to get all the knowledge before investing, me as a newbie I don't have all the knowledge about Bitcoin all I have now is still the basic knowledge and I have already started accumulating Bitcoin using the DCA method. The more you wait the more you lose just imagine I was still waiting trying to get all the knowledge about Bitcoin I won't have accumulated the little I did now, so there's no point in waiting get the basic knowledge and start your accumulation journey.
Bitcoin is a good store of value, even if Bitcoin isn't worth anything today, it doesn't matter at all because the future is brighter than now. Why did I say what I said? I said this because I believe that Bitcoin is not something we should buy today and sell next month, it is something that an investor should hold onto dearly cy long and I also understand that the more an investor holds onto Bitcoin, that's the more knowledge the investor gets so, without putting the knowledge to practice (by investing) the investor will just stay without adding more knowledge to the ones he/she has already learned before.
The only way one can get full knowledge about Bitcoin is by investing, you will get to understand very well what it means when Bitcoin's price increases and when it decreases, only knowledge will not give us experience, so if an investor that hasn't invested in Bitcoin needs more knowledge, then he/she should invest and learn more from the investment side. So my follow newbies get the basic knowledge and start your Bitcoin accumulation journey so you won't regret waiting.
As the replies keep getting deeper, I realize that there are two points of view most replies are coming from: 1. A situation where the investor has the will to keep investing and holding with no plans of stopping or no specific time to quit. 2. A situation where the investor has a specific time frame for investing and holding. Now let me make reference to these two. Aside from Bitcoin investment, there are certain people in the world today who make massive investments in several projects with the mindset of doing it just for future benefits. Mind you, just for future benefits doesn't mean they already have plans on how to spend or use their profits. The ability for them to make such long term investments is because they prioritize investment over profits, and not profit over investment. Let me give an example: Let's take a scenario of someone who has realized the future potential of Bitcoin and decides to invest in it. Due to how well this person understands long term investment, he or she won't have the urge or plan to tamper with the Bitcoin investment along the line because of the high priority placed on making investments only. Some of us here might have been in such situations, especially when it comes to alt. We sometimes invest massively but have no interest in spending it. We might even forget the seed phrase where those coins are kept. Being able to do this is not for everyone. The ability to make your present profit a lesser priority and your continuous investment a major priority would enable you to invest longer. As for the second point, the very moment an investor drafts a specific time frame for investing and holding, then getting quick profits becomes the number one priority rather than investing and holding for long term. I am not saying that making profits is bad. But what we choose to prioritize most will determine how long we can invest. When we prioritize consistent investment and holding over making profits, we tend to invest for long term. But, when we prioritize profits over consistent investment and holding, we tend to invest for only a short period of time, and any ATH might even end our investment. You bring up some decent points Felicity_Tide, yet I doubt whether your framework is correct... It is quite likely that you are comparing investing versus trading rather than two kinds of investing. There would really be no reason for any bitcoin investor to have any specific time-frame for getting out or when to get out or how to get out, but surely it does not hurt to come into something like bitcoin with at least a 4 year timeline, so then the 4-10 years or longer idea may well come into play, so that if there might be some specific kinds of reasons that a person might consider that there might be some reason to start to draw upon his investment somewhere after 4 years whether it is based on some age considerations or maybe some kind of a purchase that he might want to make (such as someone saving up for a house or something like that). When we are talking about timelines that are less than 4 years then we are back to trading rather than investing, even if you want to call it investing, I have my doubts about the appropriateness of "investing" as a label. Also, I am not sure what you mean about "especially when it comes to alt" when this is not even a thread that remotely relates to alts.. We are talking about bitcoin here, so why the fuck would we want to consider some kind of a base consideration that involves alts, which also shows that you (Felicity_Tide) may well be distracted in your own assessment regarding the point(s) that you may well be wanting to make.
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1) Self-Custody is a right. There is no such thing as "non-custodial" or "un-hosted." 2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized. 3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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