Buy the DIP, and HODL!

[Justbillywitt]

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee. Before you can accumulate up to $200, you will have $220 worth of bitcoin and when you are withdrawing your asset, the fees won't be much of a concern to you because you have already made provision for it. You can't take because of withdrawal fee and expose your asset to possible risk. If the exchange get hacked you will regret and would have preferred paying the withdrawal fees that would have been more lesser than losing your entire assets. Little fees shouldn't make us fall victim rather let's plan ourselves to accommodate the withdrawal fees from onset.

Well I understand your points but however from your explanation don't you think the investor will lose a lot of money as a fee? Or being affected financially? Because for an investor to choose investing $50 on a weekly basis means that he cannot afford any other amounts higher than what he had budgeted for the Bitcoin accumulation on the weekly basis, so perhaps advising him to add extra $5 could indirectly be regarded as aggressive investment because is very certain is going to affect him on the process which is why in as much as we are always positive we should also consider some challenges that could possibly occurred if taking a certain decisions because having that mindset always guide us very well on our Bitcoin journey.

So actually after considering all this fact I think the best way is to utilized the Consolidate method of investment which simply means that instead of accumulation and withdrawing your accumulated Bitcoin from the Cex you could possibly give it months interval and by then you have gotten a huge amount of Bitcoin that you can possibly withdraw at ones into your custodian wallet and by then the amount you would have use as a fee will be very smaller compare to withdrawing on weekly basis.

There is no way you can do without withdrawal fee from centralized exchanges. The choice of how many times to withdraw from exchanges is up to the investor and not mine or yours. What I suggested above is just a precautionary measure in a situation where people will use high withdrawal fee as excuses why they left their assets in a custodian wallet. My suggestion is never in any way suggesting to investors to invest aggressively or go out of their original budget of investing in bitcoin either weekly or monthly. It was just a mare insight that investors should prepare ahead and know that they are definitely going to pay for withdrawal fees either from what they have accumulated till the point of withdrawal or they can make extra provisions that will cover for the withdrawal fees, if they don't want the withdrawal fees to be charged from the bitcoin they have accumulated. When investors uses withdrawal fees as excuse for keeping their bitcoin in exchanges it gets me worried, because ordinarily they should have known that withdrawal fees are part of buying and hodling of bitcoin.

[Frankolala]

Well, your points are not actually bad but the most important knowledge that a new Bitcoin investor needs before applying security to his holdings is how to buy. If an investor knows how to buy he can also know how to secure his Bitcoin, at that moment he believes that it is his asset because he exchanged his fiat for Bitcoin through p2p, at this first point when he has purchased Bitcoin he doesn't care if he has make profits or not, the next step is for him to send the Bitcoin to the wallet he will use for holding. Which means after buying, the other important step is sending.
As a newbie to Bitcoin investment, you also need to calculate the figures of Bitcoin you have, so that while sending from the exchange you bought Bitcoin from to the wallet that you will use for holding you can be able to figure out the fees for your transactions so that you will know the figures of Bitcoin that you will receive.

Not quite
In Engineering there's a saying in my side that before learning how to switch ON a machine learn how to switch it Off first
There are people, I mean lots of people that can buy and sell Bitcoin but few of the majority can really secure their holdings
Like we normally say if it ain't your keys, it ain't your coins.
What am saying is even if you can buy and sell Bitcoin with no prior knowledge on how to secure it
Good wallets to use among other security measures
It's the same as placing your money in an empty pockets
The importance of security is quite underrated
Personally I feel a newbie should learn about a secure wallet and method to implement
Before learning how to buy or sell.

For me I would say it is important to study about security measures before investing in Bitcoin, but it doesn't mean that one should apply for online or offline course to only study much about security measures and how to buy and sell bitcoin before starting to invest.

Samlucky O, you are contradicting yourself with your statement above because you said it is important to study about security measures before investing and immediately you are saying the opposite. Learning about security measures is far too complex for a new investor and he might get scared of getting started. A new investor only need to figure out how much of his discretionary income he will use to buy bitcoin consistently and persistently without stopping for a long period of time and open an exchange account.

self custodial wallet like metamask, electrun wallet or truswallet.

Trust wallet is not good to store your bitcoin because it is closed source which means you are entrusting your bitcoin to a third-party. Electrum cold storage wallet and hardware wallets are good ones because they are airgapped wallet and only use open source hardware wallet.

make sure you keep your 12 or 24 key pass phrase safe from people or avoid saving it in your mobile device to avoid hack, that's just all.

It is not called passphrase, it is called seed phrase. Seed phrase is the 12 words or 24 words that is given to you when you create your wallet to show that you are the owner of the wallet, and that is why you are advised to keep your seed phrase secret from the reach of anyone. Backing it up in three different locations far from each other is also important.

Passphrase is the additional words that is being added to a seed phrase by the owner of the wallet to strengthen the security of the wallet, and you don't write down both the seed phrase and passphrase together or keep them in the same place. So that whoever sees your seed phrase will not be able to have access to your wallet until he sees your passphrase making it difficult for anyone to steal your coins.

 You see very complicated for a new investor to learn be getting started. This is why they need to get started immediately with their bitcoin accumulation and learn these other things as they are investing with time.

[Moreno233]

For me I would say it is important to study about security measures before investing in Bitcoin, but it doesn't mean that one should apply for online or offline course to only study much about security measures and how to buy and sell bitcoin before starting to invest.

Samlucky O, you are contradicting yourself with your statement above because you said it is important to study about security measures before investing and immediately you are saying the opposite. Learning about security measures is far too complex for a new investor and he might get scared of getting started. A new investor only need to figure out how much of his discretionary income he will use to buy bitcoin consistently and persistently without stopping for a long period of time and open an exchange account.

You have said it as it is because the study about security is an ongoing one and even till date, new measures are still being added that strengthen the existing measures. For instance, every now and then we hear about the lunch of new wallet or improvement on existing ones, the bottom-line is security. I remember when Trust Wallet was seen as the best in the market only to be revealed after a while that there were issues with it such as you said before which is it being close source. Therefore, if a newbie decided to graduate from security classes before investing in Bitcoin, he may not even graduate and may never get started with investing in Bitcoin.

To me an investor just need to put in mind that "not your keys, not your coin" and he is good to start because knowing this means he knows the importance of being in charge of the secret phrases and private keys of the storage media, hence will avoid keeping his coins in CEX and other wallets and places where those information are controlled by another entity other than the investor.

[Fiasem20]

Well, your points are not actually bad but the most important knowledge that a new Bitcoin investor needs before applying security to his holdings is how to buy. If an investor knows how to buy he can also know how to secure his Bitcoin, at that moment he believes that it is his asset because he exchanged his fiat for Bitcoin through p2p, at this first point when he has purchased Bitcoin he doesn't care if he has make profits or not, the next step is for him to send the Bitcoin to the wallet he will use for holding. Which means after buying, the other important step is sending.
As a newbie to Bitcoin investment, you also need to calculate the figures of Bitcoin you have, so that while sending from the exchange you bought Bitcoin from to the wallet that you will use for holding you can be able to figure out the fees for your transactions so that you will know the figures of Bitcoin that you will receive.

Not quite
In Engineering there's a saying in my side that before learning how to switch ON a machine learn how to switch it Off first
There are people, I mean lots of people that can buy and sell Bitcoin but few of the majority can really secure their holdings
Like we normally say if it ain't your keys, it ain't your coins.
What am saying is even if you can buy and sell Bitcoin with no prior knowledge on h][]ow to secure it
Good wallets to use among other security measures
It's the same as placing your money in an empty pockets
The importance of security is quite underrated
Personally I feel a newbie should learn about a secure wallet and method to implement
Before learning how to buy or sell.

For me I would say it is important to study about security measures before investing in Bitcoin,

A newbie that wants to start investing in Bitcoin should start as soon as possible.There are things to learn along while investing in Bitcoin, learning about security measures shouldn't prevent a person to get started in Bitcoin accumulation.A newbie that has disposable income can get started as soon as possible, there's no time to waste, learning is a continuous process you can learn about Bitcoin security measures on Bitcoin forum like Bitcointalk where we have experienced bitcoiners to educate anyone about Bitcoin and it's security measures.Unfortunely trust wallet is not recommended as a safe wallet to hold Bitcoin for a long term.Once again start accumulating right away and there's no need for procrastinating because one wants to learn about the security measures of Bitcoin before investing.

[JayJuanGee]

[edited out

Okay just consider the transaction fees it will take each time you try to withdraw a small unit of Bitcoin from your exchange to a non custody wallets, so it looks unprofessional even if a newbie may not understand this but it is still important for them to know because those amount that would be lost as transaction fees can still be retained if you consider accumulating a larger amount before withdrawing out from an exchange.

I agree with all of the points of your post Btcdeybodi; however, there is something wrong with your seeming to ONLY think about the withdrawal transaction fees, and anyone who moves quantities of bitcoin from third-parties, such as exchanges (or even makes other kinds of BTC transaction choices that result in the creation of both sending UTXOs and change UTXOs), should also be attempting to consider future transactions that come from how and where various UTXOs are held.  If a guy has a bunch of small UTXOs, some of them might either become unfeasible to spend, but the fees from having a bunch of small UTXOs could also end up taking a very large toll upon how much actual net worth (or value) that a guy has in bitcoin as compared to what he believes that he has... I had already mentioned an example of the difference between someone who has $3k to $5k held in just a few UTXOs as compared to another person who might have that same quantity of value held in 100s of UTXOs.

[edited out]

Buying and HODLing bitcoin is very stressless, compared to the stress  involved in trading. In my own perspective There's no need to gamble your resources in trading when you can just buy and accumulate bitcoin at your comfort using a DCA strategy which is stress free, in accumulating Bitcoin without the pressure of timing the market. Holding Bitcoin can be helpful and stress free for folks who engage in other jobs or working class individuals, it can help avoid the stress that comes with trading such as Analysing the market frequently, making fast decisions and potential loss of money. Doing other job or working and being a trader can be a very difficult task which can result in attention divided causing lack of balance between work and trading but HODLing bitcoin is stress free especially when DCAing, all you have to do is just setting aside funds weekly or Monthly consistently to buy bitcoin on a regular basis to grow your bitcoin holdings steadily without  monitoring the market. It's more safe and relaxed than trading.

I agree that buying and holding and DCA is likely to be way less stressful than trading, but it surely is not stressfree, and there are also various kinds of ways that DCA can be done by itself in aggressive ways that potentially contribute to more stress, and also DCA can be accompanied by lump sum investing, buying the dip and HODL, and even though not trading, there still can be some levels of stress contained while using DCA that may well depend upon how aggressive and creative you are.. and yeah, it still might be considered to be some variation of DCA that does not involve trading but is surely not completely free from potential stresses and/or even making mistakes by overdoing it (by potentially going beyond your disposable/discretionary income or sometimes mismanaging cashflows including but not limited to emergency funds, reserves and/or float) and not realizing the mistakes until later down the road..but still may well fit within the category of DCA and not in the category of trading.

[edited out]

It all depends on the amount of money you are using to DCA. If it's someone that's buying up to $200 and above at once I will suggest you move it to non custodian wallet immediately after each purchases. But if it's someone that's buying with smaller amount, you can accumulate it till it gets to the region of $200 maximum then you can withdraw to your wallet. Another solution to this is that when you are making your budget to buy your bitcoin, you have to make provisions for withdrawal fees, since you are aware that exchanges requires withdrawal fees.

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee. Before you can accumulate up to $200, you will have $220 worth of bitcoin and when you are withdrawing your asset, the fees won't be much of a concern to you because you have already made provision for it. You can't take because of withdrawal fee and expose your asset to possible risk. If the exchange get hacked you will regret and would have preferred paying the withdrawal fees that would have been more lesser than losing your entire assets. Little fees shouldn't make us fall victim rather let's plan ourselves to accommodate the withdrawal fees from onset.

Again, you seem to be too narrowly focused on ONLY the withdrawal fee rather than considering UTXO management on a larger and longer timeline... but hey whatever, do your multiple $50 withdrawals and see how you might be feeling after 10 years of doing that and having 100s, if not 1,000s of UTXOs and you had not realized that you did not even know what a UTXO was, and you mistakenly believed that wallet and UTXO was the same thing.  By the way, learn about coin control too in order to help you to better learn about what is a UTXO and potentially how to manage them in the present and to anticipate future potential issues in regards to how small UTXOs can be problematic for onchain transactions (and yeah these problematic issues regarding small UTXO matters might get resolved, and yeah, they might  not).

[edited out]

In two or three decades, there will probably two different types of investors and it will be obvious merely by looking at their portfolio,

- Those who bought the DIP/DCA and who HODLs Bitcoin
- Those who have dismissed Bitcoin entirely, and it's performing relatively poorly for it

¯\_(ツ)_/¯

I get your idea and I agree with the overall idea that there are those who get it (and are focusing on BTC accumulation and holding) and those who are lacking focus or failing/refusing to have any clue about the value of accumulating bitcoin (or the disvalue when they don't).

Yet, there are likely going to be variations of those two extremes in terms of potentially when a low coiner/no coiner finally gets bitcoin and what s/he finally does about it when s/he gets it... .. so yeah, the issue is ongoing in terms of when a person starts to accumulate.. which seems to be why a lot of us regular members might disagree regarding some of the BTC accumulation strategies, yet we still tend to agree that the sooner that low coiners / no coiners get started, the better off that they are likely going to be (or perhaps the more that they will be able to mitigate damages from their time as no coiner, low coiner and/or pre-coiner).

If you are a new investor then surely this investment strategy will work for you. You just continue to invest in this strategy consistently and at some point you will realize for yourself how positive this strategy has been for you. When you look at your total investment after a long period of time, you will be amazed at how much you have invested even with small investments.

Not only new investors but also many experienced or old investors are now increasing their investments by adopting DCA regularly.

Dollar cost averaging is a progressive and balanced investment strategy. One of our goals in investing in this way is to lower the average cost and even aim for better returns over the long term. Those who have sufficient capacity may not invest in this method, but those who do not have sufficient capacity and even if they are willing to invest, if they invest using this method, it becomes easier for them to invest. Because by adopting this method you will be able to invest even in small scale. Buy Bitcoins with the same amount of money every week or month using DCA regardless of whether the price of Bitcoin goes up or down. I read in the pages of the book that small grains of sand form continents. Similarly, if you invest in the dollar cost averaging method, your small investment will eventually turn into a large one.

The DCA strategy is a powerful packaged strategy which shouldn't only be prioritized it usage or talked about in terms of those that do not have sufficient money, but it is a strategy that is being used by any kind of investor irrespective of financial capacity because of it's tremendous benefits. However, just as we have always be saying that every investor must tailor down his or her choice of strategy or strategies to suit his or her, psychology, risk assessment level, financial capacity, investment goals and objectives, yeah one can have so much money and can decide to come into Bitcoin investment with the DCA strategy because that might be what suits him or her in terms of psychology or risk assessment level which differs from one another while the money can is there. Moreso, am not completely of the opinion that the DCA amount must be a fixed or the same amount, one can increase or decrease the DCA amount based on how much of your disposable income considering the fact that expenses can varies in weeks or months, but if you have it all figured out on how your DCA amount can be fixed without affecting your other living expenses negatively it can as well be good, my point is that your DCA amount shouldn't be seen as a burden because you want to meet up your specific dca amount.

Frequently wealthy investors who are able to lump sum into a new investment, such as bitcoin, they still may figure out some form of DCA because of the practicality of not necessarily wanting to sell any of their other assets and not wanting to experience tax consequences or other burdens (including liquidity questions) that might come from selling other assets and/or currencies, so it may well be way more practical in terms of their financial management to DCA over 3 to 6 or even 12 months or more.  Maybe they have zero bitcoin exposure, but they already have something like a $1 million investment portfolio, and maybe their income (disposable income) might ONLY be around $1k to $2k per month (or maybe their overall income might be $6k to $10k per month).. and so if they are targeting something like a 5% to 25% ($50k to $250k) into bitcoin, based on their disposable income, they might have to take 1-8 years to get even close to reaching their BTC allocation targets, so even if they are DCAing, they also may be trying to figure out ways to reach their target levels faster, but still might end up having to engage in forms of DCA when they might have some funds coming available to them or if they figure out sways to reallocate.. and so they might be able to get in the lower end of their target accumulation range, but they still might be striving to reach the higher end of the target accumulation range which could take even longer to reach depending on how liquid some of their other assets might be or if they might be willing to sell them or purely rely on their incoming disposable income which they might be able to increase by increasing income or cutting expenses.

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee. Before you can accumulate up to $200, you will have $220 worth of bitcoin and when you are withdrawing your asset, the fees won't be much of a concern to you because you have already made provision for it. You can't take because of withdrawal fee and expose your asset to possible risk. If the exchange get hacked you will regret and would have preferred paying the withdrawal fees that would have been more lesser than losing your entire assets. Little fees shouldn't make us fall victim rather let's plan ourselves to accommodate the withdrawal fees from onset.

Well I understand your points but however from your explanation don't you think the investor will lose a lot of money as a fee? Or being affected financially? Because for an investor to choose investing $50 on a weekly basis means that he cannot afford any other amounts higher than what he had budgeted for the Bitcoin accumulation on the weekly basis, so perhaps advising him to add extra $5 could indirectly be regarded as aggressive investment because is very certain is going to affect him on the process which is why in as much as we are always positive we should also consider some challenges that could possibly occurred if taking a certain decisions because having that mindset always guide us very well on our Bitcoin journey.

So actually after considering all this fact I think the best way is to utilized the Consolidate method of investment which simply means that instead of accumulation and withdrawing your accumulated Bitcoin from the Cex you could possibly give it months interval and by then you have gotten a huge amount of Bitcoin that you can possibly withdraw at ones into your custodian wallet and by then the amount you would have use as a fee will be very smaller compare to withdrawing on weekly basis.

Again another member (Salahmu) seemingly overly focused ONLY on the withdrawal fees, and sure you end up reaching a decently good conclusion, but your focus merely on the withdrawal fee seems a bit short-sighted as to why UTXO management remains important in the present to prepare for into the future and calculations about the future.

it will help you to earn plenty profit and reduce your gas fee.

But making it a long period of years before withdrawal, it will make it more better for you not to be charging big money on gas fee because you know you are about to withdraw plenty, so that it will bring big money no matter the gas fee that will occur in the cause of the transaction.

Bitcoin does not have "gas fees"  Fuck shitcoins, ethereum and all of the others.

We are talking about bitcoin here... try to focus ur lil selfie... or maybe learn what is bitcoin so that you learn how to better stay on topic.

[Spaceman1000$]

Well, your points are not actually bad but the most important knowledge that a new Bitcoin investor needs before applying security to his holdings is how to buy. If an investor knows how to buy he can also know how to secure his Bitcoin, at that moment he believes that it is his asset because he exchanged his fiat for Bitcoin through p2p, at this first point when he has purchased Bitcoin he doesn't care if he has make profits or not, the next step is for him to send the Bitcoin to the wallet he will use for holding. Which means after buying, the other important step is sending.
As a newbie to Bitcoin investment, you also need to calculate the figures of Bitcoin you have, so that while sending from the exchange you bought Bitcoin from to the wallet that you will use for holding you can be able to figure out the fees for your transactions so that you will know the figures of Bitcoin that you will receive.

Not quite
In Engineering there's a saying in my side that before learning how to switch ON a machine learn how to switch it Off first
There are people, I mean lots of people that can buy and sell Bitcoin but few of the majority can really secure their holdings
Like we normally say if it ain't your keys, it ain't your coins.
What am saying is even if you can buy and sell Bitcoin with no prior knowledge on h][]ow to secure it
Good wallets to use among other security measures
It's the same as placing your money in an empty pockets
The importance of security is quite underrated
Personally I feel a newbie should learn about a secure wallet and method to implement
Before learning how to buy or sell.

For me I would say it is important to study about security measures before investing in Bitcoin,

A newbie that wants to start investing in Bitcoin should start as soon as possible.There are things to learn along while investing in Bitcoin, learning about security measures shouldn't prevent a person to get started in Bitcoin accumulation.A newbie that has disposable income can get started as soon as possible, there's no time to waste, learning is a continuous process you can learn about Bitcoin security measures on Bitcoin forum like Bitcointalk where we have experienced bitcoiners to educate anyone about Bitcoin and it's security measures.Unfortunely trust wallet is not recommended as a safe wallet to hold Bitcoin for a long term.Once again start accumulating right away and there's no need for procrastinating because one wants to learn about the security measures of Bitcoin before investing.

I agree with the point you've made, newbies can start their accumulation without wasting too much time. for some of the things that they do not know for instance like security measures that is involved and some of the mistakes that can made will be lessons learned and corrected once the right questions are asked, is more like saying they will be learning on the job first hand. The thing with newbies is that, the beginning stage looks so frightening, as most beginners find it hard to pull through that first stage of their investment journey, but hence they are consistent with their investment and are able to pull through the first stage with strong convictions, then you will see procrastination and other forms of distractions will die a natural death.

[ginsan]

People who panic are not investors but they are traders.

People who are slow and full of hope are not loyal or long term investors but they are traders.

These two characteristics can be ignored in each of you.

Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.

[Btcdeybodi]

[edited out

Okay just consider the transaction fees it will take each time you try to withdraw a small unit of Bitcoin from your exchange to a non custody wallets, so it looks unprofessional even if a newbie may not understand this but it is still important for them to know because those amount that would be lost as transaction fees can still be retained if you consider accumulating a larger amount before withdrawing out from an exchange.

I agree with all of the points of your post Btcdeybodi; however, there is something wrong with your seeming to ONLY think about the withdrawal transaction fees, and anyone who moves quantities of bitcoin from third-parties, such as exchanges (or even makes other kinds of BTC transaction choices that result in the creation of both sending UTXOs and change UTXOs), should also be attempting to consider future transactions that come from how and where various UTXOs are held.  If a guy has a bunch of small UTXOs, some of them might either become unfeasible to spend, but the fees from having a bunch of small UTXOs could also end up taking a very large toll upon how much actual net worth (or value) that a guy has in bitcoin as compared to what he believes that he has... I had already mentioned an example of the difference between someone who has $3k to $5k held in just a few UTXOs as compared to another person who might have that same quantity of value held in 100s of UTXOs.

You are right actually because each transaction generates it's own UTXOs which means that if an investor decides to be moving out small unit of Bitcoin from an exchange to a self custody wallet, it will certainly create too many UTXOs which in most cases are not spendable so just as part of the Bitcoin will be lost as transaction fees that's how some will also be lost as UTXOs so all these have to be put into consideration so that we don't get into making withdrawals from an exchange after using Fiat to buy Bitcoin, at least it will make more sense to accumulate a higher amount of Bitcoins before moving them to a non custody wallets so that even if some are lost to UTXOs and transactions fees, it would not be much as someone who keeps making withdrawals all the time.

[Zackz5000]

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.

You are right there is a saying that goes thus "a little drop of water each day will definitely fill a bucket one day", accumulating Bitcoin gradually increases the quantity of your Bitcoin hodling for it is better to buy small than not buying at all because you feel the amount of money with you is too small to accumulate enough Bitcoin is not a good idea, that's why the DCA strategy is there to help investors to accumulate Bitcoin gradually because with your DCA strategy of accumulating Bitcoin one can buy Bitcoin gradually every week or month regardless of it price level with the amount an investor chooses to accumulate Bitcoin with and hodl for long or for the future with your discretionary income made available which will always help in accumulating more Bitcoin and HODL and not to sell.

[Richbased]

...Edited out...

It does not matter at what point we enter the market and start to DCA. Bitcoin has been expensive to start investing at all prices to procrastinators. It was expensive at $1, $10, $100, $30k, and $60 and it is close to $100k and it could be worth more than that shortly. Yet they still can't afford it.

Hahahahaha

Ironic!!  right?

It is funny how bitcoin can be divided into 100 million sub-units, but still people seem to think that it is expensive, which truly helps to support that people do not really know what bitcoin is, and likely even experienced bitcoiner have little to no clue about what bitcoin is beyond it being NGU (number go up) technology.  There may or may not be any need to know bitcoin beyond that it is NGU technology, which somewhat supports the point of getting started first and then study bitcoin as you go and perhaps expect that you might never really completely understand bitcoin, and it may well not even be necessarily to really understand bitcoin, but instead just focus on attempting to understand what is within your own potential grasps, which is your own financial and psychological management skills.

The thought of Bitcoin being too expensive is just mostly in the perspective of a newbie because an investor who have made investment for long will not think about the price of Bitcoin anymore but how to increase his portfolio.

 Bitcoin is a very broad subject that's for someone who wants to study and know more about Bitcoin so it will take a lot of time to study Bitcoin investment that is why making investments first before one can ask for more understanding about Bitcoin, however , just like i said of Bitcoin being a broad subject so you can't completely know everything about Bitcoin but as times goes on your investments, you will get to know more about bitcoin but the most important thing an investor should think of is how he can apply various strategies that will help him throughout his time of investment and how to be able to manage his income in such a way that he will balance his financial needs without affecting his investments in Bitcoin that is why financial management as a Bitcoin investor is important so that you don't get into a difficult situation at any point in your investment.

[adultcrypto]

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.

Could it be that we are getting our information from different sources because the information I have is that most early owners of bitcoin sold when they saw substantial profits. There are many articles suggesting that majority of the early investors have sold most of their bitcoins and I tend to agree with that because I have seen old thread of people here in the forum who had hundreds and thousands of bitcoin but have sold when they saw profit. If you check the discussion in this article, you will agree with what I am saying and don't forget that it was only few people that saw bitcoin beyond a few hundred of dollars.

Those who invested early and are still holding, deserve special respect because they have foresight and are the true believers of bitcoin. I believe more people are holding now because they have truly seen how good it is to hold. Just like you suggested, many people are already seeing bitcoin beyond their generation because it should be one of the best things to hand over to the next generation. Just imagine my dad handed me over a paper containing the seed phrase to a wallet containing 10BTC, he would have eradicated poverty from me, my children and my grandchildren because even if I want to establish business outside bitcoin with part of that, I need just 1BTC to do that which means I can save as much as 70% of the BTC to hand over to my children after building a good house and putting in place other necessary things in place and also establishing a business.

[ultrloa]

This show how amazing to hodl bitcoin.



Will give credit to Bitcoin Magazine for showing this graph

Also nice article to read regarding on this topic raised up https://crypto.ro/en/news/why-holding-bitcoin-has-been-profitable-for-nearly-100-of-its-existence/

So hodl and investors should stop wasting their time for trading shitcoins.

More to come especially soon USA will be a bitcoin friendly nation and there would be a lot of great developments to happen.

[Kliss]

People who panic are not investors but they are traders.

People who are slow and full of hope are not loyal or long term investors but they are traders.

These two characteristics can be ignored in each of you.

Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.

early folks who accumulated bitcoin gradually and never considered selling their bitcoin holdings despite it keeps recording  new ATH.  It's because they understood and saw the growth potentials bitcoin carries, global Adoption  and demands in the market was constantly on increase  which keeps appreciating in price and making  it a store value.  Knowing  this,  if they keep holding onto their Bitcoin, more ATH will be recorded in the future it's important to utilize and maximize bitcoin potentials to it fullest to be profitable and successful.

Some investors (newbie) now after an ATH is recorded they consider selling their bitcoin holdings, Knowing fully well that there is still a lot of potential growth in bitcoin, which will increase their investment profits higher. Because
the more adoption and demand rate, more ATH will be recorded, Investors need to learn from early adoptors of bitcoin, and the need to be patient and utilize bitcoin to its maximum. There's still a very high percentage (%) of the world population, who has no investment in bitcoin, meaning bitcoin is still in ithe early stage with so much room for expansion. The successful reward from holding bitcoin for a long term makes it a very unique investment and  make s bitcoin an asset of its own kind.

This show how amazing to hodl bitcoin.



Will give credit to Bitcoin Magazine for showing this graph

Also nice article to read regarding on this topic raised up https://crypto.ro/en/news/why-holding-bitcoin-has-been-profitable-for-nearly-100-of-its-existence/

So hodl and investors should stop wasting their time for trading shitcoins.

More to come especially soon USA will be a bitcoin friendly nation and there would be a lot of great developments to happen.

HODLing Bitcoin  stands out to be very  profitable without the fear of losing your funds, you just have to accumulate steadily and purchase Bitcoin consistently  to make profits. Bitcoin is still growing and look at the value it commands, an asset that is not up to 20 years  old but possess a significant value. The potential  of Bitcoin in the future is still broad and exciting  as demand and adoption continue to grow globally investors will benefit more from the opportunities bitcoin will offer. Investors should save their self from trading stress, and Buy & HODL bitcoin for long-term  which is stressless but not actually stress free.

[Hewlet]

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.

Could it be that we are getting our information from different sources because the information I have is that most early owners of bitcoin sold when they saw substantial profits. There are many articles suggesting that majority of the early investors have sold most of their bitcoins and I tend to agree with that because I have seen old thread of people here in the forum who had hundreds and thousands of bitcoin but have sold when they saw profit. If you check the discussion in this article, you will agree with what I am saying and don't forget that it was only few people that saw bitcoin beyond a few hundred of dollars.

this has always been the wrong assumption most people held on to that earlier Bitcoin holders did anything different from what curent Bitcoin enthusiast and skeptics are currently doing. Earlier investors hard to banter between the possibility of Bitcoin being another ponzi scheme and that led some to sell off thier holding at any slightest profit they witnessed. If you asked those that probably bought Bitcoin at $10 if they even thought Bitcoin would eventually get to $1000, most wouldn't imagine that it will be an easy feet and when it eventually happened, some still sold it at that price and others couldn't even HODL till that time, selling at such range of price would most likely appear as the best option for them and we can't even blame them because most people are still making the same haste to seel too soon even now that we can actually learn from the mistakes of earlier Bitcoin HODLers. The fact that Bitcoin price was quite low for earlier Bitcoin holders enabled them to buy in large quantities and I doubt they even did DCA at the time. It's because with the current Bitcoin price, it's deficult to buy in the kind of quantity earlier Bitcoin holders where previledged to buy that we had to make use of the DCA methord and buy in smaller quantity for years before some people would even buy up to 1BTC

I don't like to even make any sort of comparison between the peculiarity of our Bitcoin accumulation journey with earlier HODLers, they hard thier time and while some made the best of the opportunity, others gambled thier holding away and it's just a lesson for us to learn now and use whatever strategy that suite us to accumulate Bitcoin.

[$crypto$]

People who panic are not investors but they are traders.

People who are slow and full of hope are not loyal or long term investors but they are traders.

These two characteristics can be ignored in each of you.

Ignore that trading makes you nervous, investing in bitcoin is much less stressful because we have a sense of comfort with continued accumulation, so the main focus is how the DCA continues without any obstacles, now that bitcoin has recovered a little to its original price, I will not hesitate to continue buying it by means of DCA.

Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.

HODL bitcoin for the long term, can be for your old age as a pension fund, can pay for school children, make your life better with bitcoiin.
No problem with doing it $10, I also started small now it lasts a large enough amount to do DCA depending on the monthly spending situation.
The important thing is that we must be able to manage cash flow so that we can do it on an increasing basis.

[rachael9385]

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee.

I don't think it is a smart move to use 10% of your capital as withdrawal fee, that is too high for me. Instead of doing that, you could buy weekly but withdraw monthly, this way you will be cutting down the fee to 2.5% of your capital. If you continue to spend $5 as withdrawal fee for a $50 weekly DCA, that will amount to $260 annually as fee which is too high for such a low capital. So lile I said before, instead of this, a weeklg DCA and monthly withdrawal will be better.

What I'm suggesting to you is also what I'm doing because we have to maximise the opportunities while cutting down the cost of doing that.

Well, there are some people who don't care about the fee in their withdrawal as long they are going to achieve something in their weekly withdrawal, but the profit will not be big compare to people that withdraw monthly to reduce the gas fee to accumulate profit.  I don't know why some people are very comfortable with weekly or monthly withdrawal in the industry because it will not help to achieve your target on time base on the high fee involved but if you can continue accumulating your portfolio for a long period of years, it will help you to earn plenty profit and reduce your gas fee.

Well, you are getting it wrong about DCA method, if you are indeed investing on Bitcoin for long term with the help of DCA method you don't need to withdraw a dime from your investment because withdrawing from your Bitcoin investment will take you backwards.
As DCA is concerned you don't have to withdraw from it, no matter how the condition is (except it has to do with health). Because of not withdrawing from your Bitcoin investment you must have a solid emergency funds so that you can be able to take from your emergency funds and sort yourself out during emergencies.
Talking about the fees, I think you wanted to say transactions fee, there is nothing like gas fees in Bitcoin transactions, unless you are referring to shitcoins/altcoins which we aren't talking about here.

People who panic are not investors but they are traders.

People who are slow and full of hope are not loyal or long term investors but they are traders.

These two characteristics can be ignored in each of you.

Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.

early folks who accumulated bitcoin gradually and never considered selling their bitcoin holdings despite it keeps recording  new ATH.  It's because they understood and saw the growth potentials bitcoin carries,

One don't need to panic if he's using DCA method to invest on Bitcoin for long term, and I agreed that those who don't panic and sell their Bitcoin if it hits ATH  is because they are investing on long term and they believed that Bitcoin has a lot of potentials, and they also knows that within some months the figures of Bitcoin they have presently will increase again. And if eventually it dips they sees it as an opportunity to buy more and hold for a longer time. So they also understand all this before they refused to sell their Bitcoin for any reasons.

[Bravut]

People who panic are not investors but they are traders.

People who are slow and full of hope are not loyal or long term investors but they are traders.

These two characteristics can be ignored in each of you.

Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.

Well said.  But I disagree with you that those who panic are traders, even Investors panic... Anyone can panic about there investments it's natural in Human. Full of hope I don't seem to understand what you mean, I believe ignoring bad traits is a wrong approach instead you work, build and develop oneself to be stoic because one can never ignore what is natural instead it will keep giving them pangs occasionally.

Accumulation of Bitcoin should be a continual process, investors need to keep DCAing instead of just saving it rather keep building it in other to have a solid Bitcoin portfolio.

[Onyeeze]

People who panic are not investors but they are traders.

People who are slow and full of hope are not loyal or long term investors but they are traders.

These two characteristics can be ignored in each of you.

Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.

Do you know that bitcoin investment is risk, what I will tell you is that don't bag your eggs with one bag, you can invest in bitcoin for long-term but is not something that you will invest for your future children because its clear that nobody knows if the technology of bitcoin blockchain will fade off one day, their is a place I read in this forum, it stated that you should make bitcoin your side hustle, so as your investing in cryptocurrency you have to be mindful and don't put all you hope on it, now bitcoin is increasing and everyone is ready and interested to buy more bitcoin, but never know that bitcoin price can crash from this high price to low price, and it has happened in this form so many times, and it's possible another currency that is higher that bitcoin can be introduced.

[Odohu]

People who panic are not investors but they are traders.

People who are slow and full of hope are not loyal or long term investors but they are traders.

These two characteristics can be ignored in each of you.

Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.

Well said.  But I disagree with you that those who panic are traders, even Investors panic... Anyone can panic about there investments it's natural in Human. Full of hope I don't seem to understand what you mean, I believe ignoring bad traits is a wrong approach instead you work, build and develop oneself to be stoic because one can never ignore what is natural instead it will keep giving them pangs occasionally.

Accumulation of Bitcoin should be a continual process, investors need to keep DCAing instead of just saving it rather keep building it in other to have a solid Bitcoin portfolio.

Why should an investor panic over price drop or fluctuation when he is not even planning to sell? If you are invested in Bitcoin and you panic during the last dip, then you are not doing it correctly because instead of that panic, you ought to have taken advantage of those discounted prices to collect more Bitcoin for the same dollar amount you have been using to buy. I agree with Ginsan that it is traders that panic over retracement of price and investors sometimes are not bothered with that because they know it is normal and Bitcoin will always recover.

It will surprise you to know that I never checked my wallet to see the dollar value of my Bitcoin during the dips, instead I continued with my purchase and sending to my wallet and as soon as it is released and I receive a confirmation email, I don't bother what it come out again in terms of dollar value in my wallet.

Another source of panic is if you invested what you are not supposed to invest in Bitcoin, like going above what you ought to budget for Bitcoin investment. We must appreciate the fact that we have needs, so those needs have to be met especially the basic ones, before we talk about investment. This is the reason it is important to do proper planning which involves keeping both money for basic needs and emergency funds before investing from the balance. If you invest money you are supposed to use for feeding into Bitcoin, you will not have peace of mind if price diminishes, this is not the best thing to do.

[adultcrypto]

People who panic are not investors but they are traders.

People who are slow and full of hope are not loyal or long term investors but they are traders.

These two characteristics can be ignored in each of you.

Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.

Do you know that bitcoin investment is risk, what I will tell you is that don't bag your eggs with one bag, you can invest in bitcoin for long-term but is not something that you will invest for your future children because its clear that nobody knows if the technology of bitcoin blockchain will fade off one day, their is a place I read in this forum, it stated that you should make bitcoin your side hustle, so as your investing in cryptocurrency you have to be mindful and don't put all you hope on it, now bitcoin is increasing and everyone is ready and interested to buy more bitcoin, but never know that bitcoin price can crash from this high price to low price, and it has happened in this form so many times, and it's possible another currency that is higher that bitcoin can be introduced.

Nobody is sure of the future but this your line of thought makes me see you like a bitcoin critic and your statement seems a little like fud. It also make me feel you have not really come to terms with the fact that bitcoin have come to stay. If you must do well as a bitcoin investor, you must grow above the doubt of bitcoin failing like those critics do. This way, you will be confident that you are investing in a solid ground that will yield good profits.

There is nothing that does not fail. Stocks fail, you can buy property and tomorrow natural disaster can wash it away or government policy can mess your investment up. Sincerely, bitcoin have proven to be one of the safest investment instrument of all time. Neither inflation, nor government policy can spoil your investment, so where is the risk? The only risk I see in bitcoin is when you are in a hurry to sell, this way you can sell during retracement and incur losses.

Finally, I disagree with you that bitcoin is not good be given to our children. Bitcoin should be one of the best gifts you can give your children as it gives you the opportunity to grow the wealth gradually without stress. The asset is liquid that your children can immediately access it unlike other asset classes that they have to fill many papers. If you are not thinking towards saving for your children, I will advice you to start now and see how happy you will become doing that.