Buy the DIP, and HODL!

[Sim_card]

[edited out]

My Dad (may his soul rest in perfect peace) would always advice me against selling my properties or belongings (for any reason) with intentions of buying them back later because getting them back would never be as easy as it looks, and the price may have even tripled by the time you're ready to buy them back, and i believe it's similar to selling off a percentage of your stash with intentions of buying in a dip because the next dip might even be higher than your anticipated price so it's a risk that i believe isn't worth taking.

You might be able to apply similar ideas to other assets and/or currencies, yet I have me doubts... . since bitcoin is likely the most sound money that has ever been put into existence, which causes potentialities that there could be a step up in its price at any time, and since we cannot know when the step up in price is going to come, then we have to make sure that we are erroring on the side of always being in and being really sparing with any amount of bitcoin that we might sell, especialy whil ew are in early to mid stages of our bitcoin accumulation journey.

-

There is one thing I would love to discuss with an open-minded excellent economist though. Money is good money when it preserves value, serves as a unit of account, is fungible and portable, which implies that it meets demand for high velocity. The last point is the interesting part here because bitcoin doesn't only preserve value, but due to its scarcity and all the other characteristics, it is very likely to go up in price.

For as long as bitcoin is a promising investment that increases in value instead of only preserving it, people will tend to hoard it instead of using it. Doesn't that mean that FIAT will be needed because psychologically people would at least tend to use their inflating FIAT to either buy bitcoin or, also very important, keep the economy thriving due to investment in other assets like real estate and consumption of goods and services. Low investment quotas or high saving quotas so to say, can have negative effects on an economy. I don't know if I have a logic error here at hand, but that's a question I could never find a satisfactory answer to yet. What is your thought on this?

The reason I bring up the idea that FIAT would still have a function is similar to what happens in casinos when people are supposed to buy chips. Those chips are easier to spend psychologically and it feels the same with bitcoin. Touching bitcoin is almost painful if you have to. FIAT not, I don't care if I have to pay something and I got FIAT, not an issue at all. But selling bitcoin feels bad. That is why I think FIAT might still have a certain function for a very long time. Hope this makes sense.

Of course, FIAT cannot be replaced with bitcoin because they are to work hand in hand i.e, you need FIAT for your daily spending and to buy bitcoin if you are not being paid in bitcoin. Don't forget that FIAT is from the government and no way the government will get rid of FIAT which is their ultimate power that they use to manipulate the economy and cause inflation.

The only thing that will make us change money from FIAT to something else if the government have agreed on a new currency that's acceptable worldwide by all government. For example, back in the olden days, we use cowries to buy goods but it started through trade by barter, and gradually we started using gold before we started using paper note. So it's only if a new item is found to replace fiat that we will no longer use fiat. Apart from that FIAT continues to exist because Satoshi created bitcoin to be an alternative to fiat. Bitcoin is good to be a long-term investment that's when you will benefit from it most.

[As-Soon-As]

You are correct, Bitcoin is an investment even though some countries has now legalize it as a legal tender and some supermarket now accept payment with Bitcoin even buying properties a lot of people prefer you pay them with Bitcoin, however a lot of people won't trade there Bitcoin just to buy things in a supermarket or buy car this is because Bitcoin has the tendency of growing to a more bigger money for them so they prefer paying with there fiat currency than there Bitcoin.

Of course, if I talk about holding, then El Salvador will come to mind, because El Salvador has been holding Bitcoin since 2021. And you mentioned the country of El Salvador where Bitcoin has paid transaction fees and the government does not have to pay any taxes. Because the legal tender section has accepted Bitcoin as the main currency of that country, so the country has provided benefits to the people in every way for the benefit of the people. He has constantly taken sufficient steps for Bitcoin education, but his country's Bitcoin holding system is very good and will hold more Bitcoin in the future.

However there are some people who can see paying with Bitcoin as no much a big deal and that is those who has reached a fuck you stage where they have accumulated enough and can even decide to quit there job and live by there Bitcoin investment.
You can't expect someone who is still accumulating Bitcoin and has not Accumulated enough to start using his Bitcoin for basic payment, I know some people do it but such persons are not Bitcoin investors.

But if we talk about holding, only those who hold it for the long term can be included in the scope of Bitcoin holding. There are some people who receive and sell Bitcoin for a short period of time and they cannot be included in the scope of holding, but holding is those who will hold it for the future, such as MicroStrategy Company, the government of El Salvador, Nayib Bukele, and those who hold Bitcoin following the DCA method. All these investments are generally included in the scope of long-term investments, and they will increase their holdings more in the future. So basically the current time is still a very suitable time for Bitcoin holding.

[laijsica]

[edited out]

My Dad (may his soul rest in perfect peace) would always advice me against selling my properties or belongings (for any reason) with intentions of buying them back later because getting them back would never be as easy as it looks, and the price may have even tripled by the time you're ready to buy them back, and i believe it's similar to selling off a percentage of your stash with intentions of buying in a dip because the next dip might even be higher than your anticipated price so it's a risk that i believe isn't worth taking.

You might be able to apply similar ideas to other assets and/or currencies, yet I have me doubts... . since bitcoin is likely the most sound money that has ever been put into existence, which causes potentialities that there could be a step up in its price at any time, and since we cannot know when the step up in price is going to come, then we have to make sure that we are erroring on the side of always being in and being really sparing with any amount of bitcoin that we might sell, especialy whil ew are in early to mid stages of our bitcoin accumulation journey.

-

There is one thing I would love to discuss with an open-minded excellent economist though. Money is good money when it preserves value, serves as a unit of account, is fungible and portable, which implies that it meets demand for high velocity. The last point is the interesting part here because bitcoin doesn't only preserve value, but due to its scarcity and all the other characteristics, it is very likely to go up in price.

For as long as bitcoin is a promising investment that increases in value instead of only preserving it, people will tend to hoard it instead of using it. Doesn't that mean that FIAT will be needed because psychologically people would at least tend to use their inflating FIAT to either buy bitcoin or, also very important, keep the economy thriving due to investment in other assets like real estate and consumption of goods and services. Low investment quotas or high saving quotas so to say, can have negative effects on an economy. I don't know if I have a logic error here at hand, but that's a question I could never find a satisfactory answer to yet. What is your thought on this?

The reason I bring up the idea that FIAT would still have a function is similar to what happens in casinos when people are supposed to buy chips. Those chips are easier to spend psychologically and it feels the same with bitcoin. Touching bitcoin is almost painful if you have to. FIAT not, I don't care if I have to pay something and I got FIAT, not an issue at all. But selling bitcoin feels bad. That is why I think FIAT might still have a certain function for a very long time. Hope this makes sense.

Of course, FIAT cannot be replaced with bitcoin because they are to work hand in hand i.e, you need FIAT for your daily spending and to buy bitcoin if you are not being paid in bitcoin. Don't forget that FIAT is from the government and no way the government will get rid of FIAT which is their ultimate power that they use to manipulate the economy and cause inflation.

The only thing that will make us change money from FIAT to something else if the government have agreed on a new currency that's acceptable worldwide by all government. For example, back in the olden days, we use cowries to buy goods but it started through trade by barter, and gradually we started using gold before we started using paper note. So it's only if a new item is found to replace fiat that we will no longer use fiat. Apart from that FIAT continues to exist because Satoshi created bitcoin to be an alternative to fiat. Bitcoin is good to be a long-term investment that's when you will benefit from it most.

It is true that fiat cannot be replaced by Bitcoin, but it is recommended to trade Bitcoin for intra-trade transactions. Recently, Russia is trying and they are going to launch a domestic crypto exchange for using their domestic cryptocurrency by 2025, which can be expected to increase the use of valuable currencies like Bitcoin on a large scale.

News Link: https://invezz.com/news/2024/08/27/russia-to-start-cryptocurrency-trials-for-cross-border-payments/

Yes we need fiat to meet daily needs, where an investor keeps injecting fiat to increase his wealth. A part of the growth of Bitcoin should be allocated for fiat investment, which will increase the possibility of your Bitcoin holding increasing with the growth of your real wealth. It is true that Satoshi created Bitcoin to introduce an independent financial system, which is a financial hedge against fiat. He may have wanted to create a separate asset class, in contrast to the imbalance between wealth and purchasing power that inflation creates among people, through which investors can create their own independent financial system.
One of the benefits of long-term investment in Bitcoin is that an investor allocates a portion of his real assets and income to accumulate Bitcoin, as his holdings grow over time.

[Litzki1990]

You don't need to be very knowledgeable to invest in Bitcoin, just a little knowledge is enough. As per your statement you have already achieved that. You mentioned that you have invested in bitcoins and have been able to earn profits from it, so you have an understanding of bitcoin investing. You may also know that before investing in bitcoins you need a certain source of income that you can use to continue investing in bitcoins.

Some common misconceptions of other people since they think they need to be good first to know a lot before you can invest on bitcoin. This will just stop or delay their participation or even worse this might be the reason on why they cannot take action because they afraid to accumulate. But I guess at this point he into trading which is not advisable and been discourage to do here that's he say something about that also got afraid with good pumps gotten by bitcoin for past few days.

If they could just start right away then for sure they will be force to do more research after that since somehow its necessary once we start to invest or commit for long term we also need to learn some new knowledge on daily basis since this would help us to understand each situation happen and could provably increase our patience to successfully deal with this long term investment choice we made for bitcoin. For doubters for sure they cannot get anything for bitcoin, but for those who start their journey to hold their bitcoin for sure that they taking good decision that provably beneficial for them in future.

The beginning of every subject is difficult, if one does not have full experience of investment before investing, but one has to know about investment from the beginning and invest accordingly. Before investing in Bitcoin, many people fear that if they invest in Bitcoin, they can lose a lot of money and because of this fear, many investors do not invest. But those who are willing to take risks and are willing to invest even if money is lost, do so. But there is a big difference between investing and holding an investment for a long time. 

There are many challenges to be faced in holding the investment but those who overcome these challenges ultimately get good profit. Now many investors are holding on to their investments and the price of Bitcoin is now at its highest level, but those investors will now get a good amount of profit from their investment.

[JayJuanGee]

[edited out]

My Dad (may his soul rest in perfect peace) would always advice me against selling my properties or belongings (for any reason) with intentions of buying them back later because getting them back would never be as easy as it looks, and the price may have even tripled by the time you're ready to buy them back, and i believe it's similar to selling off a percentage of your stash with intentions of buying in a dip because the next dip might even be higher than your anticipated price so it's a risk that i believe isn't worth taking.

You might be able to apply similar ideas to other assets and/or currencies, yet I have me doubts... . since bitcoin is likely the most sound money that has ever been put into existence, which causes potentialities that there could be a step up in its price at any time, and since we cannot know when the step up in price is going to come, then we have to make sure that we are erroring on the side of always being in and being really sparing with any amount of bitcoin that we might sell, especialy whil ew are in early to mid stages of our bitcoin accumulation journey.
-

There is one thing I would love to discuss with an open-minded excellent economist though. Money is good money when it preserves value, serves as a unit of account, is fungible and portable, which implies that it meets demand for high velocity. The last point is the interesting part here because bitcoin doesn't only preserve value, but due to its scarcity and all the other characteristics, it is very likely to go up in price.

Sure those are likely the main qualities in which any discussion can be had, and surely we have to talk about verifiability and also in regards of costs associated with it whether transactional or storage and/or safekeeping costs.

So whether the person is an economist or not, there is value in terms of attempting to grapple with the main features and perhaps throwing around some examples.  One of the benefits of an economist or any learned person is that they may well be spending a lot of time playing around with examples, so they might have a lot of ideas in their head as compared to someone who might be doing manual labor all day long they might not be thinking about economics in the same kinds of ways.

For as long as bitcoin is a promising investment that increases in value instead of only preserving it, people will tend to hoard it instead of using it.

Nothing wrong with that.  You hold the most valuable asset and you spend the least.  Is anyone going to starve to death because he does not want to spend his bitcoin?  I doubt it.  We have certain preferences to satisfy our desires rather than to delay gratification, so there are going to be trade offs between spending right now versus spending later, and if we have a variety of assets/currencies, then if we know the difference in their value, then it is quite likely that we are going to chose to spend from the one that has the least storage value first... ...same thing if we have some food and we are not getting any more for a week or more then we would likely eat the more perishable kinds of foods first.

Doesn't that mean that FIAT will be needed because psychologically people would at least tend to use their inflating FIAT to either buy bitcoin or, also very important, keep the economy thriving due to investment in other assets like real estate and consumption of goods and services. Low investment quotas or high saving quotas so to say, can have negative effects on an economy. I don't know if I have a logic error here at hand, but that's a question I could never find a satisfactory answer to yet. What is your thought on this?

It seems to me that currently a lot of our goods and/or our assets are mispriced based on various ways that fiat is currently corrupted and even we are brainwashed into believing that our money is meant to lose value with the passage of time.. .which truly is not even a valid characterization of a quality of money.

Bitcoin likely helps to bring back some honesty in the money, even though fiat systems such as use of debt and/or other ways of financializing are not going to disappear overnight...so I doubt that any of us can really particularize how systems are going to evolve as bitcoin becomes more and more dominant and people realize that there is an asset/currency that they can hold their value and it goes up with time rather than down. 

Maybe once bitcoin were to reach widespread adoption it would not go up, but instead just hold its value, yet when we are in earliest of adoption phases, bitcoin's value (price) is going up based on increasing adoption rather than changes in bitcoin's relative value compared with other assets/currencies.
 

The reason I bring up the idea that FIAT would still have a function is similar to what happens in casinos when people are supposed to buy chips. Those chips are easier to spend psychologically and it feels the same with bitcoin. Touching bitcoin is almost painful if you have to. FIAT not, I don't care if I have to pay something and I got FIAT, not an issue at all. But selling bitcoin feels bad. That is why I think FIAT might still have a certain function for a very long time. Hope this makes sense.

As long as various monies exist then the less valuable will be spent first, and sure it could take 50-200 years or longer before all monetary value gravitates into bitcoin.  Houses, food, cars etc still have utility value, but their monetary value may well end up getting sucked away by bitcoin being a more efficient monetary instrument, yet you are correct, there still may be some utility in the use of other kinds of monies or tokens.

[Cryptoprincess101]

It is true that fiat cannot be replaced by Bitcoin, but it is recommended to trade Bitcoin for intra-trade transactions.

Using bitcoin for intra trade transactions can only be achieved when bitcoin has gotten full adoption globally but for now, intra trade transactions won't work except between countries that has accepted and adopted bitcoin as a legal tender such as El Salvador and Central African Republic.

Recently, Russia is trying and they are going to launch a domestic crypto exchange for using their domestic cryptocurrency by 2025, which can be expected to increase the use of valuable currencies like Bitcoin on a large scale.

Already, since Russia is moving away from dollars as their reserve currency, they will surely be interested in bitcoin related matters now, so a lot is expected from bitcoin next year.

Yes we need fiat to meet daily needs, where an investor keeps injecting fiat to increase his wealth. A part of the growth of Bitcoin should be allocated for fiat investment, which will increase the possibility of your Bitcoin holding increasing with the growth of your real wealth.

It is true that we cannot completely evade Fiat entirely, in our quest for bitcoin adoption but it doesn't mean we should keep more of our money in Fiat, besides, most of us earns in Fiats so after using part of the money to invest in bitcoin, the other part should be kept for daily needs and all that but it will be unwise for anyone who owns bitcoins to convert to Fiats except for someone who earns in bitcoin.

It is true that Satoshi created Bitcoin to introduce an independent financial system, which is a financial hedge against fiat. He may have wanted to create a separate asset class, in contrast to the imbalance between wealth and purchasing power that inflation creates among people, through which investors can create their own independent financial system.

Nice definition of bitcoin here and Kudos to Satoshi Nakamoto wherever he is now.

One of the benefits of long-term investment in Bitcoin is that an investor allocates a portion of his real assets and income to accumulate Bitcoin, as his holdings grow over time.

HODL for long term future growths that's what bitcoin investment should be all about and the DCA has become the most convenient strategy to owning a huge portfolio in bitcoin since it gives the ease of accumulating same amount or fractions of bitcoins at different intervals of time.

[Jewan420]

It is true that we cannot completely evade Fiat entirely, in our quest for bitcoin adoption but it doesn't mean we should keep more of our money in Fiat, besides, most of us earns in Fiats so after using part of the money to invest in bitcoin, the other part should be kept for daily needs and all that but it will be unwise for anyone who owns bitcoins to convert to Fiats except for someone who earns in bitcoin.

We cannot avoid fiat or ignore fiat in any way. Just because you are investing in Bitcoin does not mean that you will use the remaining money for Bitcoin investment after meeting your needs. You also need to use your money to protect your investment and it would be wise to diversify your investments.

When you are using the remaining part for investment after meeting your needs, it means that your savings are only in Bitcoin and this money is necessary for your real life. But as the general rule of investment is, never use your necessary money for investment. Choose such money for investment, if losing the money will not affect your quality of life or you will never need the invested money for any purpose. But as you say, if your investment is lost in any way, your life will change completely.

Even during Bitcoin investment, you need to focus on safety measures. If you want to be successful in long-term planning, you must have more fiat reserved. Because, you have to keep in mind the emergency and keep in mind the purchase of essential items. Suppose you use a part of your income for investment and another part for meeting daily needs. What will you do when suddenly you face a big accident? Will you agree to sell the investment at a loss? Even if you are able to sell it at a profit, you still fail in the investment. You will regret selling this investment. You should even keep another fiat fund that you can use to purchase essential items like a desktop, car or necessary furniture.

For investment to be successful in a long-term plan, you need to have more fiat. You can decide the amount of fiat savings depending on your situation. But I would say, divide your income into at least three parts, from which 1 part is used for meeting daily needs, 2nd part is saved for reserve fund or emergency fund and 3rd part is used for investment. Or you can invest another 4th by dividing it into 4ths and investing in real estate, which will be your alternative source of income and you will be able to use more money to invest in Bitcoin.

So I don't think it's wrong to keep more money in fiat. It may be your personal choice.

[As-Soon-As]

The beginning of every subject is difficult, if one does not have full experience of investment before investing, but one has to know about investment from the beginning and invest accordingly. Before investing in Bitcoin, many people fear that if they invest in Bitcoin, they can lose a lot of money and because of this fear, many investors do not invest. But those who are willing to take risks and are willing to invest even if money is lost, do so. But there is a big difference between investing and holding an investment for a long time. 

Why are you losing confidence in yourself, Bitcoin investment is the only reliable one, look at 2010, those who have invested have created huge wealth mountains so far. So why are you not able to strengthen your confidence in Bitcoin investment, then new Bitcoin investors will panic. If you invest in Bitcoin at any time, your investment will be successful but you have to hold it for a long time, never think about getting benefits until your long-term investment plan is over.
Whenever you think of getting benefits, greed will come to your mind and you will have to break your Bitcoin investment, so it is usually less risky if you do it for a long time and if you follow the DCA method, there is no doubt that you can invest in Bitcoin even in the upward momentum price.

There are many challenges to be faced in holding the investment but those who overcome these challenges ultimately get good profit. Now many investors are holding on to their investments and the price of Bitcoin is now at its highest level, but those investors will now get a good amount of profit from their investment.

You see, the government of El Salvador is holding Bitcoin, and Mitchell Saylor of MicroStrategy bought the most Bitcoin in November. And he's holding Bitcoin for the long term because he's not really thinking about the benefits right now, and he's planning to buy more Bitcoin.

Example And Saylor has deposited 386,700 Bitcoins, they're not thinking about the benefits of holding so many Bitcoins, why do you think that as a normal holder? I think people who think about Bitcoin investments in a negative way are basically idiots.

[cryptoWODL]

The beginning of every subject is difficult, if one does not have full experience of investment before investing, but one has to know about investment from the beginning and invest accordingly. Before investing in Bitcoin, many people fear that if they invest in Bitcoin, they can lose a lot of money and because of this fear, many investors do not invest. But those who are willing to take risks and are willing to invest even if money is lost, do so. But there is a big difference between investing and holding an investment for a long time.  

Why are you losing confidence in yourself, Bitcoin investment is the only reliable one, look at 2010, those who have invested have created huge wealth mountains so far. So why are you not able to strengthen your confidence in Bitcoin investment, then new Bitcoin investors will panic. If you invest in Bitcoin at any time, your investment will be successful but you have to hold it for a long time, never think about getting benefits until your long-term investment plan is over.

Basically many inexperienced investors lose confidence in themselves by constantly watching charts. By constantly monitoring the charts, they constantly observe the rise and fall in the price of Bitcoin. As a result, they doubt that the price of Bitcoin could fall further. But those who have properly reviewed the history of Bitcoin's price rise will not lose confidence in themselves or even be motivated to sell the investment. Investors should keep in mind that investing in Bitcoin is the safest and it will eventually grow to a much larger amount.

Recently the President of El Salvador, Nayib Bukele, said that,

🇸🇻 NAYIB BUKELE: "Stop looking at the chart and enjoy life. If you invested in Bitcoin your investment is safe and its value will grow a lot" 💯

https://x.com/TheBitcoinConf/status/1861782130860204116?t=-CgtY5ioDVc8gGBihvh7Dw&s=19

[Odohu]

Recently the President of El Salvador, Naib Buckley, said that,

🇸🇻 NAYIB BUKELE: "Stop looking at the chart and enjoy life. If you invested in #Bitcoin your investment is safe and its value will grow a lot" 💯

https://x.com/TheBitcoinConf/status/1861782130860204116?t=-CgtY5ioDVc8gGBihvh7Dw&s=19

Nayib Bukele is one man that will always be remembered in history for his believe and trust in Bitcoin. His practically brought the whole country of El Salvador to Bitcoin and not only did he speak grammar, he followed it with action by investing the country's money into Bitcoin, roll out several programs and policies that support Bitcoin penetration in their country including incentivizing people to opt for payment through Bitcoin. I read that Bitcoin was even integrated into their educational curriculum and people were given tips in Bitcoin just to make them appreciate the beauty of Bitcoin. On the aspect of mining, he also played a leading role in positioning El Salvador in the mining business, therefore, he deserve to be celebrated as one of the top believers in Bitcoin. While doing the things he did, there were several criticism yet he never paid attention to them instead he focused on the goal and today he is being celebrated as the one who saw the future.

Advice from people like Nayib Bukele, who have tested what their say, should not be taken for granted. He understand the importance of holding for long and removing the worries and anxiety of staying glued to the chart. This is definitely the way to peace of mind because looking constantly at the chart might be a sign of fear or anxiety.

[Shadiq]

Basically many inexperienced investors lose confidence in themselves by constantly watching charts. By constantly monitoring the charts, they constantly observe the rise and fall in the price of Bitcoin. As a result, they doubt that the price of Bitcoin could fall further. But those who have properly reviewed the history of Bitcoin's price rise will not lose confidence in themselves or even be motivated to sell the investment. Investors should keep in mind that investing in Bitcoin is the safest and it will eventually grow to a much larger amount.
Recently the President of El Salvador, Nayib Bukele, said that,

🇸🇻 NAYIB BUKELE: "Stop looking at the chart and enjoy life. If you invested in Bitcoin your investment is safe and its value will grow a lot" 💯

https://x.com/TheBitcoinConf/status/1861782130860204116?t=-CgtY5ioDVc8gGBihvh7Dw&s=19

For an investor, being immersed in the charts creates fear and anxiety about investing. For a long-term investor, volatile market conditions can lead to panic if he cannot control himself or is a new investor. There is nothing wrong with showing the charts if you can control yourself and trust in Bitcoin even after seeing the volatile conditions. Being immersed in the market after investing can be a hindrance to enjoying life and this is a fact.

Although I trust Bitcoin and I am a new investor. Sometimes the volatile market conditions scare me and ruin some enjoyable moments. That is why I try my best to stay away from the charts because I cannot control myself, as much as I say here that I have full confidence in Bitcoin but being a new investor, it is not easy for me to handle all the market conditions. But I am not so uncontrolled as to sell the investment, which is why I am staying in Bitcoin. Nowadays I rarely look at the charts and try to stay busy enjoying life.

You could say that looking at the charts makes you more experienced and smart about the markets, but it doesn't work for everyone. So I don't think it would be right advice to advise a newbie to focus on the charts.

[Promocodeudo]

The beginning of every subject is difficult, if one does not have full experience of investment before investing, but one has to know about investment from the beginning and invest accordingly. Before investing in Bitcoin, many people fear that if they invest in Bitcoin, they can lose a lot of money and because of this fear, many investors do not invest. But those who are willing to take risks and are willing to invest even if money is lost, do so. But there is a big difference between investing and holding an investment for a long time. 

There are many challenges to be faced in holding the investment but those who overcome these challenges ultimately get good profit. Now many investors are holding on to their investments and the price of Bitcoin is now at its highest level, but those investors will now get a good amount of profit from their investment.

Yea I agree with you that some people at the onset become much afraid of what will become of their fund if they invest in Bitcoin, though it's is an individual thing but someone who's ready to invest won't be having such doubt because such an individual would have known that risk is part of investment and for you to scale through in an investment you must have considered taking risk.

Buddy in terms of having full experience I don't agree with that, one must not have full experience before he can invest, I think we need to start from somewhere and graduate to having full experience which is not also that possible, some use these things as excuse to keep procrastinating, anyone who wants to start Bitcoin investment journey needs just the basic to start first then such persons knowledge will definitely be broad if he or she continues consistently, after all the Bitcoin we are taking about is not a hidden investment, it's something some one can easily ask question about on communities to join in the internet space to learn more about Bitcoin and that's it.

Yea investment and hodling are different things all together but if we should go by the right approach of Bitcoin which is long-term, I think every investor that has a good set goal for themselves would have known that as they start the journey is to keep accumulating they litlle the can with DCA method consistently,steadily and hodl for a long-term, though there may be obstacle when one decides to hodl thats why is advisable for an investor to have discretionary income, emergency funds available and also apply a gradually process of accumulating Bitcoin to avoid presure or panic.

[Fuso.hp]

The beginning of every subject is difficult, if one does not have full experience of investment before investing, but one has to know about investment from the beginning and invest accordingly. Before investing in Bitcoin, many people fear that if they invest in Bitcoin, they can lose a lot of money and because of this fear, many investors do not invest. But those who are willing to take risks and are willing to invest even if money is lost, do so. But there is a big difference between investing and holding an investment for a long time.  

Why are you losing confidence in yourself, Bitcoin investment is the only reliable one, look at 2010, those who have invested have created huge wealth mountains so far. So why are you not able to strengthen your confidence in Bitcoin investment, then new Bitcoin investors will panic. If you invest in Bitcoin at any time, your investment will be successful but you have to hold it for a long time, never think about getting benefits until your long-term investment plan is over.

Basically many inexperienced investors lose confidence in themselves by constantly watching charts. By constantly monitoring the charts, they constantly observe the rise and fall in the price of Bitcoin. As a result, they doubt that the price of Bitcoin could fall further. But those who have properly reviewed the history of Bitcoin's price rise will not lose confidence in themselves or even be motivated to sell the investment. Investors should keep in mind that investing in Bitcoin is the safest and it will eventually grow to a much larger amount.

The market movement will not always follow the rules of the chart but if an investor has a good understanding of the charts then it will be a much easier matter for that person to invest later and hold the investment. There are many investors in this trade who share their investment success stories and many stories are that they started investing with wrong ideas but when they got into investing their ideas about investing changed completely. There are some investors who think they can make a profit by buying Bitcoin with money and selling it after a few days, but when they put it into practice, it turns out that investing is not as easy as they thought. Before investing, the investor must know about the investment, have a good understanding of the market and always be ready to take risks. And it's hard for an investor to pull it all together, but those who can succeed.

[Sim_card]

For investment to be successful in a long-term plan, you need to have more fiat. You can decide the amount of fiat savings depending on your situation. But I would say, divide your income into at least three parts, from which 1 part is used for meeting daily needs, 2nd part is saved for reserve fund or emergency fund and 3rd part is used for investment. Or you can invest another 4th by dividing it into 4ths and investing in real estate, which will be your alternative source of income and you will be able to use more money to invest in Bitcoin.

It's not possible for you to divide your funds into four parts to achieve all that you mentioned above. I agree with you that you can divide your income into three parts. Your discretionary income is what can be divided into the part apart from the funds for your monthly up keep. You can use on part of your discretionary income to invest in bitcoin and keep the other in fiat for your various back up funds.

It's good that investment should be done one after the other so that you don't lose focus and get stuck on your way. Don't you think that sharing your funds into four parts and invest in bitcoin along side trying to invest in real estate will not make you build and grow one of them easily. It's better you focus on investing in bitcoin alone and go your portfolio to a certain level that you feel you have more than enough bitcoin before you can diversify to real estate.

Imagine how will a low income or average income earner invest in bitcoin and at the same time invest in real estate, it is impossible because real estate need big amount of money to start, unlike bitcoin that you can buy with an amount as low as $10 gradually every week consistent and persistent over time. It means that investor will not achieve any of these investments in the long run because he would be distracted with too many things on his little discretionary income. Currently, bitcoin investment should be our first choice and our priority because it is more profitable than any investment currently and in the future.

So I don't think it would be right advice to advise a newbie to focus on the charts.

Yea, a brand new investor shouldn't be concerned about what happens in the market but to focus on how he can build and grow his bitcoin portfolio with continue buying every week through DCA irrespective of the price of bitcoin, and keep his bitcoin journey ongoing overtime, because he is only to be buying and buying and buying.

[Obim34]

The beginning of every subject is difficult, if one does not have full experience of investment before investing, but one has to know about investment from the beginning and invest accordingly. Before investing in Bitcoin, many people fear that if they invest in Bitcoin, they can lose a lot of money and because of this fear, many investors do not invest. But those who are willing to take risks and are willing to invest even if money is lost, do so. But there is a big difference between investing and holding an investment for a long time.  

Why are you losing confidence in yourself, Bitcoin investment is the only reliable one, look at 2010, those who have invested have created huge wealth mountains so far. So why are you not able to strengthen your confidence in Bitcoin investment, then new Bitcoin investors will panic. If you invest in Bitcoin at any time, your investment will be successful but you have to hold it for a long time, never think about getting benefits until your long-term investment plan is over.

Basically many inexperienced investors lose confidence in themselves by constantly watching charts. By constantly monitoring the charts, they constantly observe the rise and fall in the price of Bitcoin. As a result, they doubt that the price of Bitcoin could fall further. But those who have properly reviewed the history of Bitcoin's price rise will not lose confidence in themselves or even be motivated to sell the investment. Investors should keep in mind that investing in Bitcoin is the safest and it will eventually grow to a much larger amount.

Recently the President of El Salvador, Nayib Bukele, said that,

🇸🇻 NAYIB BUKELE: "Stop looking at the chart and enjoy life. If you invested in Bitcoin your investment is safe and its value will grow a lot" 💯

https://x.com/TheBitcoinConf/status/1861782130860204116?t=-CgtY5ioDVc8gGBihvh7Dw&s=19

It is a cruel insight once you see those who are busy following the multitude of getting involved into Bitcoin investment, anybody who has soaked every bit of his time and understanding to deliberate with further researches concerning Bitcoin will understand the whole concept and make plans accordingly.

Looking up to historical data is a primary factor, but using charts and technical algorithms to decide on how to operate investment options will only cause failure to catch the market when required. Bitcoin should be seen differently, not a business or a quick capital multiplier, the Bitcoin market follows due process which involves purchasing, holding before deciding on when to take profits and no need for charts reading either.

[ginsan]

For an investor, being immersed in the charts creates fear and anxiety about investing. For a long-term investor, volatile market conditions can lead to panic if he cannot control himself or is a new investor. There is nothing wrong with showing the charts if you can control yourself and trust in Bitcoin even after seeing the volatile conditions. Being immersed in the market after investing can be a hindrance to enjoying life and this is a fact.

Although I trust Bitcoin and I am a new investor. Sometimes the volatile market conditions scare me and ruin some enjoyable moments. That is why I try my best to stay away from the charts because I cannot control myself, as much as I say here that I have full confidence in Bitcoin but being a new investor, it is not easy for me to handle all the market conditions. But I am not so uncontrolled as to sell the investment, which is why I am staying in Bitcoin. Nowadays I rarely look at the charts and try to stay busy enjoying life.

You could say that looking at the charts makes you more experienced and smart about the markets, but it doesn't work for everyone. So I don't think it would be right advice to advise a newbie to focus on the charts.

You should learn more about long-term investment, investment should not be afraid, should not be worried and everything should be ready with a strong mentality.

I think you are still a beginner, I say that because in the explanation you gave you are still worried even though it should not be in your mind if you want to buy bitcoin for the long term then you must be able to hold it.

Some of my input for you.

You must allocate funds that are ready to be lost, so there is no need to worry.

Buy regularly, scale starting with a low allocation level and can adjust to a greater increase each year.

Make an investment plan for a long time, for example 10 years, buy consistently with the DCA strategy.

if you can do it I think the up and down graph will not affect you anymore.

[letteredhub]

It is true that fiat cannot be replaced by Bitcoin, but it is recommended to trade Bitcoin for intra-trade transactions.

Using bitcoin for intra trade transactions can only be achieved when bitcoin has gotten full adoption globally but for now, intra trade transactions won't work except between countries that has accepted and adopted bitcoin as a legal tender such as El Salvador and Central African Republic.

With countries adopting bitcoin as legal tender side-by-side their fiat currency it's definitely going to make all types of trading transaction seamless for everyone. But even with the barriers that may exist from the government of any country towards bitcoin, intra trading transactions can still be successfully processed and achieve among different traders from different locations provided there an already built trust that exists between the traders and they both agree to transact using bitcoin then it's a done deal whether or not bitcoin is a legal tender in that country.

I think the individuals agreeing on using bitcoin for the transaction override whatever the government policies says about bitcoin as everything is going to be done with privacy.

[Mayor of ogba]

Basically many inexperienced investors lose confidence in themselves by constantly watching charts. By constantly monitoring the charts, they constantly observe the rise and fall in the price of Bitcoin. As a result, they doubt that the price of Bitcoin could fall further. But those who have properly reviewed the history of Bitcoin's price rise will not lose confidence in themselves or even be motivated to sell the investment. Investors should keep in mind that investing in Bitcoin is the safest and it will eventually grow to a much larger amount.
Recently the President of El Salvador, Nayib Bukele, said that,

🇸🇻 NAYIB BUKELE: "Stop looking at the chart and enjoy life. If you invested in Bitcoin your investment is safe and its value will grow a lot" 💯

https://x.com/TheBitcoinConf/status/1861782130860204116?t=-CgtY5ioDVc8gGBihvh7Dw&s=19

Although I trust Bitcoin and I am a new investor. Sometimes the volatile market conditions scare me and ruin some enjoyable moments. That is why I try my best to stay away from the charts because I cannot control myself, as much as I say here that I have full confidence in Bitcoin but being a new investor, it is not easy for me to handle all the market conditions. But I am not so uncontrolled as to sell the investment, which is why I am staying in Bitcoin. Nowadays I rarely look at the charts and try to stay busy enjoying life.

You could say that looking at the charts makes you more experienced and smart about the markets, but it doesn't work for everyone. So I don't think it would be right advice to advise a newbie to focus on the charts.

There's no need to be scared of the volatile part of bitcoin, and this is where the DCA strategy will help you a lot in accumulating bitcoin without being bothered or scared by the volatile part of bitcoin. As a newbie, the DCA strategy is the perfect strategy to use when accumulating bitcoin because it allows you to consistently accumulate bitcoin either on a weekly or monthly basis when your money is readily available. The DCA strategy will also help to control your emotions because you will not be moved by the volatile part of bitcoin since you will be accumulating bitcoin at different prices, which will allow you to accumulate bitcoin even when there is a dip and it will give you the opportunity to take advantage of the volatile part of bitcoin.

[Ricardo11]

There's no need to be scared of the volatile part of bitcoin, and this is where the DCA strategy will help you a lot in accumulating bitcoin without being bothered or scared by the volatile part of bitcoin. As a newbie, the DCA strategy is the perfect strategy to use when accumulating bitcoin because it allows you to consistently accumulate bitcoin either on a weekly or monthly basis when your money is readily available. The DCA strategy will also help to control your emotions because you will not be moved by the volatile part of bitcoin since you will be accumulating bitcoin at different prices, which will allow you to accumulate bitcoin even when there is a dip and it will give you the opportunity to take advantage of the volatile part of bitcoin.

Yes, DCA strategy is the best investment strategy for all types of investors, whether new or experienced. This strategy allows you to buy Bitcoin consistently over time, which avoids short-term market fluctuations and allows us to make more profit.
DCA strategy is the most profitable investment strategy, and the biggest example of this is a person named rego who has been following DCA for the past 8 years, he has already made huge profits, but even after that he will not stop investing, he even keeps his DCA investment uninterrupted. This is the power of DCA.
He has achieved real success with DCA, we can be more inspired by his success, we can focus on DCA.

[MissNonFall9]

I don't have much knowledge about Bitcoin, I just have basic idea of ​​Bitcoin. And I haven't started bitcoin investment yet, but I have plans to invest in bitcoin in the future, and I will hold my investment for a long time. With the rate at which Bitcoin has risen today, it seems like I missed a good opportunity. If I had started investing 1 week earlier, I would have already made a good amount of profit. However now the price of Bitcoin is very high, so I am waiting for a dumping, when I get a good dumping I will start investing.

If you plan to be a long-term investor, there is no need for you to be waiting for no reason. You are already late to bitcoin and you don't see that as a problem which is why you think that the price is too expensive. How long do you want to keep waiting for two years or a year, because I don't see bitcoin price reaching the price that you are expecting this circle again because bull run is all about bitcoin price going up. Do you know when the next bear market will come, people are busy acquiring more bitcoin every week and month even with this price.

I will advice you that if you have the money to invest, you do that right away and don't wait in the ball park while others are busy piling up wealth for their future. Since you intend to buy and invest in a long term, it's good you start buying now with an amount from your discretionary income that will not be a problem to you so that you can continue using that amount to buy bitcoin every week through DCA method regularly for 4-10 years and above, so that you can keep your bitcoin accumulation ongoing and build your bitcoin stash bit by bit overtime.

I guess that you are missing something, at this current time people have understood the potentials that bitcoin have as an asset that is still in his transition stage and they are using this opportunity to be buying bitcoin for the future because they know that the value will increase overtime, and whoever is not in the accumulation train and has no bitcoin is missing out this unique opportunity bitcoin is giving you to secure your future by investing and hodli for long.
After listening to you I can convince myself to invest in Bitcoin again. Although I have little knowledge about Bitcoin and I think this knowledge is not enough yet. I have invested very little in Bitcoin, which has given me a good profit. But now that the price of Bitcoin has increased, I am getting more and more worried about investing or to be honest, I am a little afraid. Because I am a child of a middle-class family and I have to think very carefully about what I have to do.
However I think I want to use some of my money to invest in Bitcoin for at least another year. If I could get some more advice from you on how wise it would be, I would be very benefited from my heart. Because my Bitcoin journey is very difficult and ignores family opinions.

The dip is what people use to decieve themselves from getting started immediately and later get discouraged when they can't buy from the dip because it took them unaware. No one knows when the dip will come so start your bitcoin investment right away because the size of your bitcoin portfolio is what matters in future.

After listening to you I can convince myself to invest in Bitcoin again. Although I have little knowledge about Bitcoin and I think this knowledge is not enough yet. I have invested very little in Bitcoin, which has given me a good profit. But now that the price of Bitcoin has increased, I am getting more and more worried about investing or to be honest, I am a little afraid. Because I am a child of a middle-class family and I have to think very carefully about what I have to do.
However I think I want to use some of my money to invest in Bitcoin for at least another year. If I could get some more advice from you on how wise it would be, I would be very benefited from my heart. Because my Bitcoin journey is very difficult and ignores family opinions.

I don't have much knowledge about Bitcoin, I just have basic idea of ​​Bitcoin. And I haven't started bitcoin investment yet, but I have plans to invest in bitcoin in the future, and I will hold my investment for a long time. With the rate at which Bitcoin has risen today, it seems like I missed a good opportunity. If I had started investing 1 week earlier, I would have already made a good amount of profit. However now the price of Bitcoin is very high, so I am waiting for a dumping, when I get a good dumping I will start investing.

If you plan to be a long-term investor, there is no need for you to be waiting for no reason. You are already late to bitcoin and you don't see that as a problem which is why you think that the price is too expensive. How long do you want to keep waiting for two years or a year, because I don't see bitcoin price reaching the price that you are expecting this circle again because bull run is all about bitcoin price going up. Do you know when the next bear market will come, people are busy acquiring more bitcoin every week and month even with this price.

I will advice you that if you have the money to invest, you do that right away and don't wait in the ball park while others are busy piling up wealth for their future. Since you intend to buy and invest in a long term, it's good you start buying now with an amount from your discretionary income that will not be a problem to you so that you can continue using that amount to buy bitcoin every week through DCA method regularly for 4-10 years and above, so that you can keep your bitcoin accumulation ongoing and build your bitcoin stash bit by bit overtime.

I guess that you are missing something, at this current time people have understood the potentials that bitcoin have as an asset that is still in his transition stage and they are using this opportunity to be buying bitcoin for the future because they know that the value will increase overtime, and whoever is not in the accumulation train and has no bitcoin is missing out this unique opportunity bitcoin is giving you to secure your future by investing and hodli for long.
After listening to you I can convince myself to invest in Bitcoin again. Although I have little knowledge about Bitcoin and I think this knowledge is not enough yet. I have invested very little in Bitcoin, which has given me a good profit. But now that the price of Bitcoin has increased, I am getting more and more worried about investing or to be honest, I am a little afraid. Because I am a child of a middle-class family and I have to think very carefully about what I have to do.
However I think I want to use some of my money to invest in Bitcoin for at least another year. If I could get some more advice from you on how wise it would be, I would be very benefited from my heart. Because my Bitcoin journey is very difficult and ignores family opinions.

The dip is what people use to decieve themselves from getting started immediately and later get discouraged when they can't buy from the dip because it took them unaware. No one knows when the dip will come so start your bitcoin investment right away because the size of your bitcoin portfolio is what matters in future.

After listening to you I can convince myself to invest in Bitcoin again. Although I have little knowledge about Bitcoin and I think this knowledge is not enough yet. I have invested very little in Bitcoin, which has given me a good profit. But now that the price of Bitcoin has increased, I am getting more and more worried about investing or to be honest, I am a little afraid. Because I am a child of a middle-class family and I have to think very carefully about what I have to do.
However I think I want to use some of my money to invest in Bitcoin for at least another year. If I could get some more advice from you on how wise it would be, I would be very benefited from my heart. Because my Bitcoin journey is very difficult and ignores family opinions.

Firstly, you need to consider the funds which you want to put into bitcoin. If it's the money that you will be needing in a short time, don't buy bitcoin with it so that you don't regret your actions when you sell at loss because you need the money back. If you are not working, you cannot invest in bitcoin. However, if you are still staying under your parents and they are responsible for your up keep, if you do have extra money that you receive as a gift that you are saving because you don't know what to do with the money, you can buy bitcoin with such funds so that you can start practicing how to hodli for long and work on your emotions for better experience so that when you start working, it will be very easy for you to carry out your regular weekly DCA persistent buying overtime. Also if whenever you get this funds that you don't expect from friends and relatives you invest in on bitcoin, it can motivate you to get a job so that you can continue buying without depending on anyone before you buy.

You don't need to be afraid if you know the right thing to do because bitcoin is not a ponzi scheme and whatever quantity of bitcoin that you buy will still be the same quantity in your wallet, it's only the value that differs from time to time. Only your discretionary income (extra cash) is good to use for your bitcoin investment, and one thing I want to let you understand is that profit shouldn't be your priority when investing but the size of your bitcoin portfolio portfolio i.e how many bitcoin you have currently and how many will you like to have in future so that you don't go about making wrong decisions and messing up with your bitcoin. Bitcoin investment is fone for the future because it is a gateway to wealth for people who sacrificed the little that they have to buy regularly every week for a very long time like 10 years and above. Bitcoin is not for a year but for at least 4-10 years and above.

If you have a job, from your income calculate how much that you are using to take care of your monthly expenses and needs and deduct it from your income , the leftover is your discretionary income, use from there to buy bitcoin like I stated above on the reply that you quoted me.

Considering my situation, your advice is quite reasonable and effective. Because I live with my family although I am not dependent, I have to be accountable to them for the family income, this is my hereditary principle. However due to my job, I can save even a small amount but the amount is very small and I can deposit it continuously. As a result I have invested some amount in Bitcoin earlier. I have some more savings which I am going to invest now. But I think that after one or two years from now if I can save more, can I invest in Bitcoin again with that? This Bitcoin has already motivated me. So I regret a lot for not being able to invest now or a little earlier, although I had nothing to do. And maybe I will regret it again two years from now. But I am constrained by the current situation. Anyway, I am very satisfied with your statement.