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Author Topic: Buy the DIP, and HODL!  (Read 89547 times)
GigaBit
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June 29, 2024, 07:16:00 PM
 #9421


OK, at first I told myself that why is changing the title of the topic so unpopular - it's merely a title. I felt there was some pressure towards me to change it back to "Buy the DIP, and HODL". But why would I be pressured of it's merely a title?

¯\_(ツ)_/¯

Changed.
It's a mere title as we can say, but there is much to it, the knowledge it has impacted too many, for everyone to learn how to buy the dip and hodl!
Yes, a lot of knowledge has been shared in this buy the dip and hodl discussion thread, and it has helped so many investors to be close to their bitcoin accumulation journey. If investors are so concerned about buying the bitcoin dip, they know the strategies they can combine that will allow them to buy the dip at any time it happens without finding it hard to do, and this is due to the knowledge shared here. This thread has helped me gain more knowledge and experience about the DCA strategy and the funds to keep in place that will guide me to accumulate the quantity of bitcoin I want to accumulate and hold it for the long term.
Although a large portion of investors have a general idea about Bitcoin, they are not very interested in collecting Bitcoins. Many of them do not understand the benefits of holding bitcoins for long term and there are many who sell their bitcoins for small profit in short term. There are others who can't hold their emotions because of the slight drop in Bitcoin price. They lose their wealth during that time. They don't know how to grow their Bitcoin portfolio by doing DCA for a long period of time to the best of their ability. All these things being part of this thread an investor can gain a lot of knowledge about Bitcoin if they pay attention to it.

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June 29, 2024, 08:07:44 PM
Merited by wmaurik (1)
 #9422

Of course, when folks are learning a topic, initially they can learn from anyone with more experience than them (and frequently they can also learn from folks who learn less then them), and as long as they are engaging in critical thinking and trying to continue to learn, they will likely find that they need to get exposure to more and more advanced folks in that field (whether we are talking about bitcoin or any other topic).  

Surely I have a lot of my own limitations in the knowledge that I have and whether I am still learning, yet probably I have some advantages due to the amount of time that I spent engaging with the bitcoin topic.. which has been quite a bit in the past 10 years - though surely not full-time and there have been times in which I have spent more time and times that I have taken breaks.  
I've been following this thread for a few weeks now, and even though I'm nervous to always make contributions, I've been able to learn a few things here simply by following the thread and reading through discussions. I've learned from not only you, but also members who are both higher and lower in rank than me. I realise that most people making contributions are more experienced, and i feel my contributions will be of low value to them.

I am not convinced with my limited knowledge yet, which is why I am spending more time in this topic and other beneficial threads soaking up every little knowledge I can find. I still need more exposure to bitcoin conversations to learn more about bitcoin so i can make valuable contributions in this thread to educate other people too.

I have read some articles and books about bitcoin but sometimes engaging in discussions with more experienced people will widen your knowledge even further.

Sure, it could be true that in the very beginning of your bitcoin journey, you might hardly have anything to contribute beyond potentially asking questions, and sometimes longer term members will get annoyed when new member ask some seemingly basic questions that they should be able to fairly easily figure out, yet if you are doing some of your own homework and you are setting up your own systems (such as financial, cash management, and psychological systems), and you are also doing some of your own research, there are surely going to be times in which your learnings become more informed - yet you might have various questions about what you are doing and something might be difficult to figure out on your own, especially if you might recognize several competing options but you might be unclear in your own head about advantages and/or disadvantages in regards to various kinds of potential set ups and/or practices, and so I would thing that you would be able to ask questions or even make comments and suggestions that relate to your learnings or areas of your feeling that you don't really understand, even if some of the questions are seemingly basic and even if some of us in this thread might have covered some of the themes of your questions at various historical points in this thread. 

I doubt that we should be expecting that you read and/or understand anything close to the contents of the 472 previous pages of this thread prior to being able to interact.. but if you at least read the OP and maybe the first few pages of the thread, and maybe go through some various posts in the thread and maybe read some of the recent posts of the thread, then that should be enough in order to demonstrate some leel of due diligence.... that would show that at least you are trying to interact with some of the already happened discussions..

Part of the reason for threads like this is to interact with members at what ever point each of us are at, and sometimes some of the threads seem to have had gotten beyond the mere basics, but even our getting beyond the basics does not mean that we should not be welcome to somewhat basic questions from beginners (or bitcoin newbies), because we likely should realize that something around 99% of the world's population are either no coiners or low coiners, and frequently it will take several repetitions of certain new ideas for any newbie bitcoiner before the ideas both start to sink in that you are able to understand the ideas with better clarity, but that you are also able to communicate with other members about the ideas that you have, whether members here agree with you or not.   There are also some folks who come to the thread with other kinds of life-experiences, so none of us can really know your life experiences unless you share some of the ideas that you have that might be based on your experiences and your presumptions.. which might be something that we previously discussed, or maybe we have not yet discussed, so nothing wrong with bringing in some life experiences from time to time, whether you are a bitcoin or investment newbie or someone who has some kinds of experiences that might be worthy of sharing in a thread like this.

[edited out]
True.
Well said, Mate. You participating is what will widen your horizon, experience is only best gotten through experience just as only continual application of the knowledge will help you grow, thus building you more when you contribute and share ideas among like minds.

No need for you to undervalue your own idea,talk less of your idea when you can learn and also unlearn, take corrections from knowledgeable members of the forum and also participant of this Discussion.

Actually that is another good way of framing the matter, which is that many of us can learn better when we participate and interact in the forum and in threads like this, which was part of my own reason for joining and participating in the forum over 10 years ago... and continues to be my motivation to date. 

There are ways to try to participate, but also to try to read quite a bit too so that you are not totally off-base in the kinds of things that you are asking, and surely if other members interact with you, it tends to be better to try to take into account what they are saying, and sometimes other members will end up giving really bad advice.. or some kinds of suggestions that you believe are not good for your situation. Surely, in the end you have to decide for yourself, and surely sometimes there can be quite a bit of problem by following other forum members without making sure that what they say is actually applicable to your own situation and also that you sufficiently understand the trade-offs since you are going to be the one responsible for your own actions, and no one is going to feel sorry for you if you say that you were  just doing what one or another member had suggested that you do, whether it be from me or any other member. 

Even though I personally try to make suggestions that fit with other members, there are surely going to be times that what I say is not really very fitting for your own circumstances, so you gotta be careful in regards to figuring out various systems that might work for you whether it is actual bitcoin buys or maybe various ways that you organize your own personal monthly cashflows and account for your income versus your expenses in terms of figuring out how much bitcoin you are able to buy each month - or how much fiat that you are able to dedicate towards buying bitcoin each month/week or whatever is your buying time intervals.

everyone is also allowed to put forward their own ideas as long as the ideas are good enough and do not oppose other people's ideas,

I don't see anything wrong with opposing the ideas of other members, and those who oppose ideas of other members while giving reasons (and perhaps even evidence) for why they oppose the ideas will provide fruit for deeper discussions.  Sure there are some members who seem to just oppose for the sake of opposing, so that can be a bit annoying if some members are not really explaining why they are for or against some ideas...and yeah, sometimes it can be a bit unclear regarding how much evidence and/or explanation is needed when opposing the ideas of another member, so each of us has to make those kinds of choices regarding how much we believe we need to back up our own ideas -especially if we consider them to be going against what other members might be saying...

and sometimes we get the facts and/or the logic wrong too.. so sometimes we might believe that we are saying different things from other members, but we just end up saying similar things in different ways... so the ways of communicating can continue to be confusing for some of us from time to time, too.

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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Today at 09:31:07 AM
 #9423

The reality here is that for a while Bitcoin started to sound like a broken record. Huge investor inflows into ETFs could drive up Bitcoin's price. Again, although the flow of ETF-investors has cooled somewhat, the momentum of capital in cryptocurrencies is considered to be increasing. But don't worry, we've seen this story before with Bitcoin. And experienced cryptocurrency investors know this has happened to Bitcoin before Again the price of Bitcoin is not going up, even if it plays an indirect role for ETFs, the main reason is that you have retail and top buyers investors like me who are not institutional investors, you will notice that retail investors are increasing their holdings in Bitcoin. As time goes by we can expect more institutional investors to start buying crypto.
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Today at 10:02:13 AM
 #9424

[edited out]
I was patiently waiting for your response on this. Your response is highly appreciated by my humble self. And I have taken some valuable insight from what you have just said. Just as @Wind_FURY rightly stated, your understanding about things as regarding bitcoin and other crypto projects are highly inspiring. Most times I come to this thread specifically to read your posts and responses to different posts, and never for once have I been disappointed. Sometimes I wonder if you are a professor. Lol...

Of course, when folks are learning a topic, initially they can learn from anyone with more experience than them (and frequently they can also learn from folks who learn less then them), and as long as they are engaging in critical thinking and trying to continue to learn, they will likely find that they need to get exposure to more and more advanced folks in that field (whether we are talking about bitcoin or any other topic).  

Actually the knowledge about Bitcoin I have acquire here made me to realize that sometimes being very knowledgeable doesn't determine how long someone have been into investment because let me use myself for instance, in as much as I have started my Bitcoin journey before visiting this thread but I have not been able to understand so many things about Bitcoin but after being here for sometime and reading your quotes about Bitcoin investment I realized that I was missing a lot before but now i have been able to understand a lot about Bitcoin investment.

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Zackz5000
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Today at 10:25:16 AM
Last edit: Today at 10:51:25 AM by Zackz5000
Merited by JayJuanGee (1)
 #9425

The reality here is that for a while Bitcoin started to sound like a broken record. Huge investor inflows into ETFs could drive up Bitcoin's price. Again, although the flow of ETF-investors has cooled somewhat, the momentum of capital in cryptocurrencies is considered to be increasing. But don't worry, we've seen this story before with Bitcoin. And experienced cryptocurrency investors know this has happened to Bitcoin before Again the price of Bitcoin is not going up, even if it plays an indirect role for ETFs, the main reason is that you have retail and top buyers investors like me who are not institutional investors, you will notice that retail investors are increasing their holdings in Bitcoin. As time goes by we can expect more institutional investors to start buying crypto.
Your last paragraph can be very problematic and it can also be misleading in the sense that this particular thread  is talking about how we can accumulate more Bitcoin and hodl for a longer period of time which can be 4-10 years and above and not about accumulating altcoins which is untrustworthy.

For you would have been more specific when using the word Crypto here for there are other newbies here or new investors which might think that you are talking about shitcoins which is unreliable to invest in because the word Crypto addresses the whole cryptocurrency market so don't confuse them here for it is better you call it Bitcoin for Bitcoin or altcoins for altcoins to be more specific rather than generalizing to Crypto. For you may be right in what you have said but newbie here might believe or think you are advising them to go and invest into altcoins.

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Today at 11:25:42 AM
 #9426

The reality here is that for a while Bitcoin started to sound like a broken record. Huge investor inflows into ETFs could drive up Bitcoin's price. Again, although the flow of ETF-investors has cooled somewhat, the momentum of capital in cryptocurrencies is considered to be increasing. But don't worry, we've seen this story before with Bitcoin. And experienced cryptocurrency investors know this has happened to Bitcoin before Again the price of Bitcoin is not going up, even if it plays an indirect role for ETFs, the main reason is that you have retail and top buyers investors like me who are not institutional investors, you will notice that retail investors are increasing their holdings in Bitcoin. As time goes by we can expect more institutional investors to start buying crypto.
The gradual increase in investment in Bitcoin at the institutional and individual level can give your investment more hope, which may inspire you to increase your holdings. If you are a new investor then DCA can be the best policy for you. The DCA strategy encourages you to accumulate more Bitcoins over time and luckily will keep you a few steps ahead of the buying trend in bearish markets. Regardless of the price of Bitcoin as you continue to buy each month and are able to fill a circle you should tend to increase your holdings within your purchasing power. Bitcoin's past price history may influence you to be aggressive in investing, but you should have all the tools to continue saving for the long term, such as having floating cash for emergencies. Bitcoin holdings in overall considerations.

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Today at 11:31:29 AM
 #9427

[edited out]
I was patiently waiting for your response on this. Your response is highly appreciated by my humble self. And I have taken some valuable insight from what you have just said. Just as @Wind_FURY rightly stated, your understanding about things as regarding bitcoin and other crypto projects are highly inspiring. Most times I come to this thread specifically to read your posts and responses to different posts, and never for once have I been disappointed. Sometimes I wonder if you are a professor. Lol...

Of course, when folks are learning a topic, initially they can learn from anyone with more experience than them (and frequently they can also learn from folks who learn less then them), and as long as they are engaging in critical thinking and trying to continue to learn, they will likely find that they need to get exposure to more and more advanced folks in that field (whether we are talking about bitcoin or any other topic).  

Actually the knowledge about Bitcoin I have acquire here made me to realize that sometimes being very knowledgeable doesn't determine how long someone have been into investment because let me use myself for instance, in as much as I have started my Bitcoin journey before visiting this thread but I have not been able to understand so many things about Bitcoin but after being here for sometime and reading your quotes about Bitcoin investment I realized that I was missing a lot before but now i have been able to understand a lot about Bitcoin investment.
I also think the longer you stay in Bitcoin investment with consistency the more experience you will get, JayJuanGee was said and I quote "You can also learn along the way.. so you might have certain ideas in your earlier years of your investing that you change later down the road, because you figure out that there are systems that work better for you or that you have to tweak your systems from time to time to hep yourself both financially and psychologically"
So it is certain that the longer you stay in Bitcoin investment the more knowledge you will have and it is also good to be in a forum like this it helps you grow in wisdom and knowledge, when I started Bitcoin investment I had only the basic knowledge but today I have added a little more knowledge.
The longer one keeps his investment going the more knowledgeable he or she will become.
Experience they say is the best teacher and experience can only come when you have been into something for some number of years.
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Today at 12:06:04 PM
 #9428

The reality here is that for a while Bitcoin started to sound like a broken record. Huge investor inflows into ETFs could drive up Bitcoin's price. Again, although the flow of ETF-investors has cooled somewhat, the momentum of capital in cryptocurrencies is considered to be increasing. But don't worry, we've seen this story before with Bitcoin. And experienced cryptocurrency investors know this has happened to Bitcoin before Again the price of Bitcoin is not going up, even if it plays an indirect role for ETFs, the main reason is that you have retail and top buyers investors like me who are not institutional investors, you will notice that retail investors are increasing their holdings in Bitcoin. As time goes by we can expect more institutional investors to start buying crypto.
You are contradicting yourself by using the word cryptocurrency instead of bitcoin even when you were referring to bitcoin. Bitcoin is unique and has survived for long compared to shitcoins and the reason is that bitcoin has great potential due to its decentralized nature. This is why investing in bitcoin is good because it serves as an hedge against inflation, you are your own bank and bitcoin gives your the opportunity to make profit from hodling your bitcoin investment for a long period of time because the price of bitcoin increases overtime.

Shitcoins are centralized and most dev created them to deceive investors that it can be like bitcoin, unknown to the investors that these shitcoins are pump and dump. This is why I see shitcoins as gambling and not investment. A newbie like you should only focus on bitcoin and don't think that all cryptocurrency has the same potential like bitcoin, because they will not last long. You said something about ETF, only bitcoin ETF is functioning because bitcoin has being recognized by the US that it has come to stay.

From you discretionary income, you should assign an amount that you can use to buy bitcoin regularly weekly or monthly that will not affect you so that you can continue buying for at least 4-10 years and above non stop to build and grow your portfolio. Emergency funds is also needed to prevent you from selling part of your bitcoin when it is not of your own will. I see that you are a newbie always visit this thread to learn more on how to go about with your bitcoin investment journey.

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Justbillywitt
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Today at 12:58:55 PM
 #9429

The reality here is that for a while Bitcoin started to sound like a broken record. Huge investor inflows into ETFs could drive up Bitcoin's price. Again, although the flow of ETF-investors has cooled somewhat, the momentum of capital in cryptocurrencies is considered to be increasing. But don't worry, we've seen this story before with Bitcoin. And experienced cryptocurrency investors know this has happened to Bitcoin before Again the price of Bitcoin is not going up, even if it plays an indirect role for ETFs, the main reason is that you have retail and top buyers investors like me who are not institutional investors, you will notice that retail investors are increasing their holdings in Bitcoin. As time goes by we can expect more institutional investors to start buying crypto.
Can you explain further how bitcoin is sounding like a broken record recently? For your information bitcoin broke the previous ATH and set a new one around $73k, that's to tell you that there are still interest in bitcoin and bitcoin is still one of the most talked about investment for years now. That doesn't sound to me like a broken record. What we are seeing now in the market is normal occourance. We all as hodlers are not concerned about that, our primary focus is to keep doing what we know how to do best, that's continuing with our buying plan. To long term holders the current market situation is a blessing for us, because we are buying reasonable stash of bitcoin at a reduced amount. For retailers like you it will be a bad market for you as you are not making the daily peanuts you usually get. But don't come and disturb us here with your retailing ideology, as this thread is specifically dedicated to long term hodlers. We buy and Hodl!!

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