Buy the DIP, and HODL!

[Wind_FURY]

The earlier the better since it will bare more good result if they invest at earliest age.

But that depends on what age they know Bitcoin since not everyone is lucky to know this coin so early.

Still they can do good decision by investing on Bitcoin right away then do HODL with it. Somehow they can decide to do 5,10 years or maybe longer than that especially if they are young.

If they are at 70's still they can buy Bitcoin and for inheritance purposes. Nothing stop people to do it since it can give good fortune to their recipients. This is how cool Bitcoin is since its flexible and we can use it on whatever purpose we are aiming for investing on this coin.

In general, whether it's starting a business or starting an investment portfolio - the earlie  is ALWAYS better, and it's not my mere opinion. It's a FACT.

Plus it's not only because of the possibility of gaining more profit. It's also because starting early also makes you LEARN early, or make mistakes early so you could learn from them. Making a massive investment error in your 50s is more dangerous for your financial health than if you made it in your 20s.

You are right about this and this is one way I console myself for some of the mistakes I made in my Bitcoin journey. I never had the right information such as investing in Bitcoin mainly and followed in searching for the next Bitcoin when I started, invested in a couple of shitcoins and lost heavily in the process, an experience I look back to and still regret till date. Like you said, it is better to make mistakes early and learn from it early, and that is my case although I learnt at a huge cost.

Console yourself? No ser. You should be happy that it happened. Sometimes learning the HARD WAY makes the process of discovering the right path faster than merely learning the lesson from others. The experience itself is more valuable.

My joy is that I'm doing the right thing now, investing mainly in Bitcoin and holding with no intention of selling even in this market cycle and the next.  I have not reach my accumulation goal so I'm still aggressively investing my discretionary income until I meet the target I set for myself in terms of Bitcoin quantity.

Although, if you let me give you some advice. - Be careful about "targets". Don't make them as the actual goal, but use them as a sort of guide because you may want to add more Bitcoin that's more than your original "target".

[AVE5]

The earlier the better since it will bare more good result if they invest at earliest age.

But that depends on what age they know Bitcoin since not everyone is lucky to know this coin so early.

Still they can do good decision by investing on Bitcoin right away then do HODL with it. Somehow they can decide to do 5,10 years or maybe longer than that especially if they are young.

If they are at 70's still they can buy Bitcoin and for inheritance purposes. Nothing stop people to do it since it can give good fortune to their recipients. This is how cool Bitcoin is since its flexible and we can use it on whatever purpose we are aiming for investing on this coin.

In general, whether it's starting a business or starting an investment portfolio - the earlie  is ALWAYS better, and it's not my mere opinion. It's a FACT.

Plus it's not only because of the possibility of gaining more profit. It's also because starting early also makes you LEARN early, or make mistakes early so you could learn from them. Making a massive investment error in your 50s is more dangerous for your financial health than if you made it in your 20s.

You are right about this and this is one way I console myself for some of the mistakes I made in my Bitcoin journey. I never had the right information such as investing in Bitcoin mainly and followed in searching for the next Bitcoin when I started, invested in a couple of shitcoins and lost heavily in the process, an experience I look back to and still regret till date. Like you said, it is better to make mistakes early and learn from it early, and that is my case although I learnt at a huge cost.

Console yourself? No ser. You should be happy that it happened. Sometimes learning the HARD WAY makes the process of discovering the right path faster than merely learning the lesson from others. The experience itself is more valuable.

My joy is that I'm doing the right thing now, investing mainly in Bitcoin and holding with no intention of selling even in this market cycle and the next.  I have not reach my accumulation goal so I'm still aggressively investing my discretionary income until I meet the target I set for myself in terms of Bitcoin quantity.

Although, if you let me give you some advice. - Be careful about "targets". Don't make them the actual goal, but use them as a sort of guide because you may want to add more Bitcoin that's more than your original "target".

Let it not be that there's timing limit here. It's also no one's fault who've to invest in bitcoin lately.  It all depends when they learnt it, build their emotions towards the market fluctuates with the rest of the investment risks. I either don't expect anyone at their retirement ages such as 70s to be the beginning of their Investing on bitcoin because bitcoin profitablity doesn't come so soon and the old folk needed to enjoy the ride watching the the market behaving dramatic and same time keeping those smiles as he sees his portfolio growing when the market soars.
All of this maybe challenging for one to invest on bitcoin at that old age but yes, you don't have to end up spending all of your savings before you exit the earth so, necessity to invest even at that old age can still be considered for generational inheritance as part of your portfolios.
I agree with the saying that earlier is always the best but bitcoin being a newly technology and one investment scheme is what we don't have to regret our actions of late coming.
Buying and buying more and just hodl can always take us to that dream of owning a huge portfolio even when we came later.

[blackberrman]

I doubt anyone is saying that a steady income is not important, but instead saying that a steady income is not required in order to determine to invest into bitcoin.  The thing that is needed is discretionary funds, and discretionary funds can come from a variety of places, including from non steady income sources, or even prior building up of back up funds or even from the use of debt... and yeah, even though a steady income can make things easier, it is not required in order to be able to buy bitcoin.. .what is needed is discretionary funds.

Well, for a prudent fund it is better to have a source of income, because when you only think about your maximum expenses from your monthly income and deposit some money from it in your emergency fund. When you can save a good amount of money in your emergency fund then you can start investing your bitcoin. But I don't think you need a stable income to invest in bitcoin. Yes if you are aware of the risk then you can invest with some amount from your monthly income, let's say if your monthly income is $500 then you can deposit $200 in your emergency fund and with the remaining $200 you can save bitcoin which will be used to save bitcoin along with depositing money in your emergency fund. You can spend the remaining $100 for your maximum and family expenses.

Emergency fund is important because investing in Bitcoin can require a lot of money to overcome a sudden danger in your life, where you can use your emergency fund to cover it and there will be no obstacle in the long term of Bitcoin. If you can patiently complete the long term by investing in Bitcoin, you can be one of the beneficiaries. Having a source of income is very important in emergency fund and Bitcoin long-term investment because this allows you to meet your own expenses and open the way for your emergency fund and Bitcoin investment to move forward in the future. In that case, you can use the DCA strategy because through this you can move your small amount of investment forward and your investment will turn into a strong one in the future.

[SmartCharpa]

I doubt anyone is saying that a steady income is not important, but instead saying that a steady income is not required in order to determine to invest into bitcoin.  The thing that is needed is discretionary funds, and discretionary funds can come from a variety of places, including from non steady income sources, or even prior building up of back up funds or even from the use of debt... and yeah, even though a steady income can make things easier, it is not required in order to be able to buy bitcoin.. .what is needed is discretionary funds.

Many people believe that you can only set up a discretionary fund if you have a steady source of income, however stable income is not necessary before investing in Bitcoin.  The main thing is to have some extra cash that you don't need to cover your other needs, this money can come from everywhere like side jobs, savings, or even some money you've saved for a long time, and there's no need to do this with your monthly salary.

Of course, if you have a steady income makes it easier to continue investing and building your Bitcoin over time with a rest of mind, but it is not necessary if you understand how Bitcoin works. And as long as you have spare money and you can afford to lose it without affecting your other expenses, you can invest in Bitcoin. What matters is that you use funds that you are willing to risks rather than relying on your monthly salary.

If you are investing into bitcoin rather than trading, then you should realize that any of the money that you use to buy bitcoin is getting locked away for 4-10 years or longer, so you don't need the money.

We invest with an expectation that in the future our investment will pay off and that we have chances to be better off for investing rather than if we had not, even though at the same time, we should recognize and appreciate that our investment might not pay off and could go to zero. We should weigh our considerations in determining our position size, and yeah, if our income is not certain or steady, then we may well have to be more cautious in regards to how much we are able to invest and how steady we can invest into bitcoin, so there surely are advantages to having a steady income or figuring out ways to make our income more steady, even though we don't have to have a steady income for each time that we are considering to buy bitcoin and considering how much, then we are likely considering how much money we have that we are ready, willing and/or able to lock up for 4-10 years or more.

I understand your point, and I agree that if you invest in Bitcoin for the long term, you should be able to leave the money for many years, perhaps between 4 and 10 years or even more. That is why it is important to be sure that the money that you invest will not be used for daily expenses or emergencies.

However, before investing, everyone should have a positive mindset toward their investment. And you should decide how much you can invest in Bitcoin, either weekly or monthly without touching it, and this should be extra money, not money for other needs. If you invest money that you might need tomorrow or next month, you may be forced to sell at a difficult time, especially if the market price falls.

Sure. A steady income makes it easier to invest weekly or monthly, but even if your income is not steady, you can still invest as long as you are serious with it. Since we have to maintain our investments and separate them from the money that will cover our other needs. This allows you not to fear and hold your investment for the long term without stress.

[Wind_FURY]

The earlier the better since it will bare more good result if they invest at earliest age.

But that depends on what age they know Bitcoin since not everyone is lucky to know this coin so early.

Still they can do good decision by investing on Bitcoin right away then do HODL with it. Somehow they can decide to do 5,10 years or maybe longer than that especially if they are young.

If they are at 70's still they can buy Bitcoin and for inheritance purposes. Nothing stop people to do it since it can give good fortune to their recipients. This is how cool Bitcoin is since its flexible and we can use it on whatever purpose we are aiming for investing on this coin.

In general, whether it's starting a business or starting an investment portfolio - the earlie  is ALWAYS better, and it's not my mere opinion. It's a FACT.

Plus it's not only because of the possibility of gaining more profit. It's also because starting early also makes you LEARN early, or make mistakes early so you could learn from them. Making a massive investment error in your 50s is more dangerous for your financial health than if you made it in your 20s.

You are right about this and this is one way I console myself for some of the mistakes I made in my Bitcoin journey. I never had the right information such as investing in Bitcoin mainly and followed in searching for the next Bitcoin when I started, invested in a couple of shitcoins and lost heavily in the process, an experience I look back to and still regret till date. Like you said, it is better to make mistakes early and learn from it early, and that is my case although I learnt at a huge cost.

Console yourself? No ser. You should be happy that it happened. Sometimes learning the HARD WAY makes the process of discovering the right path faster than merely learning the lesson from others. The experience itself is more valuable.

My joy is that I'm doing the right thing now, investing mainly in Bitcoin and holding with no intention of selling even in this market cycle and the next.  I have not reach my accumulation goal so I'm still aggressively investing my discretionary income until I meet the target I set for myself in terms of Bitcoin quantity.

Although, if you let me give you some advice. - Be careful about "targets". Don't make them the actual goal, but use them as a sort of guide because you may want to add more Bitcoin that's more than your original "target".

Let it not be that there's timing limit here. It's also no one's fault who've to invest in bitcoin lately.  It all depends when they learnt it, build their emotions towards the market fluctuates with the rest of the investment risks. I either don't expect anyone at their retirement ages such as 70s to be the beginning of their Investing on bitcoin because bitcoin profitablity doesn't come so soon and the old folk needed to enjoy the ride watching the the market behaving dramatic and same time keeping those smiles as he sees his portfolio growing when the market soars.

All of this maybe challenging for one to invest on bitcoin at that old age but yes, you don't have to end up spending all of your savings before you exit the earth so, necessity to invest even at that old age can still be considered for generational inheritance as part of your portfolios.

I agree with the saying that earlier is always the best but bitcoin being a newly technology and one investment scheme is what we don't have to regret our actions of late coming.

Buying and buying more and just hodl can always take us to that dream of owning a huge portfolio even when we came later.

The point I'm actually making is not how early or how late an individual starts his/her Bitcoin journey. It's merely knowing the pros and cons/advantages and disadvantages in doing something depending on the individual's age. This is only a fact of life.

Older people in the 60 to 70 years old age demographic probably also had a Golden Opportunity to invest in something during their 20s, no?

[kanftka]

To invest in Bitcoin, you must always be aware and create an emergency fund because this will help you deal with sudden disasters in your life and if you have to get out of that danger, you may suffer a lot financially. If you have this emergency fund, you will have peace of mind and will never make the wrong decision. When you are moving forward for the long term by investing in Bitcoin, you may face many obstacles in the long term and you may face financial crisis again, so you should create an emergency fund so that you can invest in Bitcoin and achieve the long term.

Mental peace has nothing to do with investing.

Honestly Jewan420, I can’t really agree with you on that one, because for me mental health is definitely part of the whole Bitcoin investment journey, especially if you are looking at it from a long term perspective… A lot of the reason why people are constantly advised to only invest with discretionary income, while still keeping an emergency fund, some savings, or even a float, is simply because of the mental side of it man…

For instant, when you go all in and throw in money you are not comfortable risking, maybe money for you business, or money meant for family bills and expenses.. it is not just your portfolio at stake, it is now your peace of mind… You won’t be at your best mental state, instead of calmly holding and trusting your plan, you will find yourself refreshing the chart every hour, worrying about every little dip, and feeling that weight in your chest because the money you put in was not meant to be risked in the first place.. That is not investing from a position of strength, that is investing from a place of desperation, and it will drain you mentally…

Long term Bitcoin holding is as much about patience and mindset as it is about your planning and DCA strategy..  If your head is not in the right place, it is easy to make panic decisions that you will regret later, and that is why I would say mental peace and investment goes hand in hand….

[Loyang]

I doubt anyone is saying that a steady income is not important, but instead saying that a steady income is not required in order to determine to invest into bitcoin.  The thing that is needed is discretionary funds, and discretionary funds can come from a variety of places, including from non steady income sources, or even prior building up of back up funds or even from the use of debt... and yeah, even though a steady income can make things easier, it is not required in order to be able to buy bitcoin.. .what is needed is discretionary funds.

Well, for a prudent fund it is better to have a source of income, because when you only think about your maximum expenses from your monthly income and deposit some money from it in your emergency fund. When you can save a good amount of money in your emergency fund then you can start investing your bitcoin. But I don't think you need a stable income to invest in bitcoin. Yes if you are aware of the risk then you can invest with some amount from your monthly income, let's say if your monthly income is $500 then you can deposit $200 in your emergency fund and with the remaining $200 you can save bitcoin which will be used to save bitcoin along with depositing money in your emergency fund. You can spend the remaining $100 for your maximum and family expenses.

Emergency fund is important because investing in Bitcoin can require a lot of money to overcome a sudden danger in your life, where you can use your emergency fund to cover it and there will be no obstacle in the long term of Bitcoin. If you can patiently complete the long term by investing in Bitcoin, you can be one of the beneficiaries. Having a source of income is very important in emergency fund and Bitcoin long-term investment because this allows you to meet your own expenses and open the way for your emergency fund and Bitcoin investment to move forward in the future. In that case, you can use the DCA strategy because through this you can move your small amount of investment forward and your investment will turn into a strong one in the future.

You need a source of discretionary income to invest. Because even if you have a source of income, if you cannot manage your finances properly, you may not be able to continue investing. So you need to find out the discretionary income from your income. Discretionary income is the amount of money left after deducting all expenses from your earned money, that is your discretionary income. If you invest with your discretionary income, then you will not face much problem in maintaining the continuity of investment.

[blackberrman]

It is hard always to buy the dip because we don't know when the dip is coming. But we have a chance to buy after the dip is coming but still buying in the dip will always give us a big chance to make a big profit later. I always try to buy every dip, and I try to place at a very lower price, but as I said before, I am not too often to get the lowest price, but it's not a problem for me because I can get a lower price.

Perhaps, after I bought the coin, the price will down in 2-3 times then it start to increase so at least I still get a chance to make a profit after a few hours. But if the price is moving so fast, then my chance to make a profit will bigger because I don't have to wait for a long time. That is why we need to place the order buy in many places especially in every lower price so we could get the lowest price to buy.

Yes, it is true that if we can buy the dip, then we will have a chance to profit from it. After the dip comes, it gives us a chance to corner. However, I will advise everyone to try to buy the dip, because you can get it at any price. It is very important to know that it is difficult to buy the dip all the time. To buy it, you must try and place an order. You don't have to wait long after buying it, there is a chance to profit within two to three hours. You don't have to wait long to profit from it. I always try to buy the dip.

After the decline, the Bitcoin price has surpassed the highest price in history. You can get a big chance to profit by buying the dip, but if you always wait to buy the dip, it is a bad habit because no one can accurately predict when the Bitcoin price will rise or fall. You can find small decline opportunities in the market and sometimes buy the dip and sometimes invest with the momentum of the market. Just as the Bitcoin price was cheaper than the present in history, the present is cheaper than the future. The future of Bitcoin is bright. In my opinion, it is better to go with the market than to beat the market. You use the DCA strategy to invest gradually. This way, you will get rid of such thoughts about when to enter the market and when to exit. Even if the Bitcoin price drops, you will have more assets, and even if the price rises, the profit will be accumulated gradually.

[Futurexxx]

If you are investing into bitcoin rather than trading, then you should realize that any of the money that you use to buy bitcoin is getting locked away for 4-10 years or longer, so you don't need the money.

We invest with an expectation that in the future our investment will pay off and that we have chances to be better off for investing rather than if we had not, even though at the same time, we should recognize and appreciate that our investment might not pay off and could go to zero. We should weigh our considerations in determining our position size, and yeah, if our income is not certain or steady, then we may well have to be more cautious in regards to how much we are able to invest and how steady we can invest into bitcoin, so there surely are advantages to having a steady income or figuring out ways to make our income more steady, even though we don't have to have a steady income for each time that we are considering to buy bitcoin and considering how much, then we are likely considering how much money we have that we are ready, willing and/or able to lock up for 4-10 years or more.

Sure. A steady income makes it easier to invest weekly or monthly, but even if your income is not steady, you can still invest as long as you are serious with it. Since we have to maintain our investments and separate them from the money that will cover our other needs. This allows you not to fear and hold your investment for the long term without stress.

What you are saying here is not bad, but try to be specific when talking about money meant for investment in Bitcoin, you shouldn't be saying that a steady income makes it easier to invest weekly or monthly, so that newbies wouldn't be thinking that any income that gets into their hands are a valid capital to invest with, what you should be saying is a steady discretionary funds is needed for consistent accumulation of Bitcoin, with that anyone that comes across your post will know that it's only discretionary funds we invest with, money left after all basic expenses has been met, please be specific, because misinformation spread faster than the right information.

[Princess Leah]

Yes, it is true that if we can buy the dip, then we will have a chance to profit from it. After the dip comes, it gives us a chance to corner. However, I will advise everyone to try to buy the dip, because you can get it at any price. It is very important to know that it is difficult to buy the dip all the time. To buy it, you must try and place an order. You don't have to wait long after buying it, there is a chance to profit within two to three hours. You don't have to wait long to profit from it. I always try to buy the dip.

After the decline, the Bitcoin price has surpassed the highest price in history. You can get a big chance to profit by buying the dip, but if you always wait to buy the dip, it is a bad habit because no one can accurately predict when the Bitcoin price will rise or fall. You can find small decline opportunities in the market and sometimes buy the dip and sometimes invest with the momentum of the market. Just as the Bitcoin price was cheaper than the present in history, the present is cheaper than the future. The future of Bitcoin is bright. In my opinion, it is better to go with the market than to beat the market. You use the DCA strategy to invest gradually. This way, you will get rid of such thoughts about when to enter the market and when to exit. Even if the Bitcoin price drops, you will have more assets, and even if the price rises, the profit will be accumulated gradually.

I've noticed that people do confuse this term buy the dip and hold for waiting for the dip before buying then hold, no that's not how Bitcoin investment operates, yes you're right that buying the dip is a very good opportunity but an investor shouldn't be waiting for only the dip before they buy cause they'll still miss out on several opportunities while waiting for the dip.

 The price of Bitcoin is increasing fast and periodically so and there's a strategy like DCA, it's helps investors to flow with the market instead beating the market the DCA sets a balance for investment to go smoothly therefore an investor doesn't need to wait for different dips and miss out on opportunities, with the DCA volatility is not a big deal to investor, that's what some investors don't know.

[Derekfunds]

It is hard always to buy the dip because we don't know when the dip is coming. But we have a chance to buy after the dip is coming but still buying in the dip will always give us a big chance to make a big profit later. I always try to buy every dip, and I try to place at a very lower price, but as I said before, I am not too often to get the lowest price, but it's not a problem for me because I can get a lower price.

Perhaps, after I bought the coin, the price will down in 2-3 times then it start to increase so at least I still get a chance to make a profit after a few hours. But if the price is moving so fast, then my chance to make a profit will bigger because I don't have to wait for a long time. That is why we need to place the order buy in many places especially in every lower price so we could get the lowest price to buy.

Yes, it is true that if we can buy the dip, then we will have a chance to profit from it. After the dip comes, it gives us a chance to corner. However, I will advise everyone to try to buy the dip, because you can get it at any price. It is very important to know that it is difficult to buy the dip all the time. To buy it, you must try and place an order. You don't have to wait long after buying it, there is a chance to profit within two to three hours. You don't have to wait long to profit from it. I always try to buy the dip.

There surely are trade-offs for any newbie who gives any shits about buying the dip rather than just figuring out ways to buy bitcoin persistently, consistently, ongoingly, regularly and perhaps even aggressively for 1-2 cycles or longer or maybe until they reach overaccumulation status.

Buying the dip adds a waiting component for something that might not happen, yet there still can be ways to buy the dip with a bit of reason and as a supplementary strategy rather than as a main strategy.

You are right, anyone that is yet to start Bitcoin investment and still trying or planning on buying during the Dip is really wasting their time and some opportunities because no one knows when the Dip will occur or come. But if someone has gone far on their accumulation let say to their overaccumulation stage, waiting for the Dip to buy at this stage is not totally bad because they are already at their desire point or state and this stage someone can even decide to miss sometime and it won't affect their holding.

[jems]

Yes, it is true that if we can buy the dip, then we will have a chance to profit from it. After the dip comes, it gives us a chance to corner. However, I will advise everyone to try to buy the dip, because you can get it at any price. It is very important to know that it is difficult to buy the dip all the time. To buy it, you must try and place an order. You don't have to wait long after buying it, there is a chance to profit within two to three hours. You don't have to wait long to profit from it. I always try to buy the dip.

After the decline, the Bitcoin price has surpassed the highest price in history. You can get a big chance to profit by buying the dip, but if you always wait to buy the dip, it is a bad habit because no one can accurately predict when the Bitcoin price will rise or fall. You can find small decline opportunities in the market and sometimes buy the dip and sometimes invest with the momentum of the market. Just as the Bitcoin price was cheaper than the present in history, the present is cheaper than the future. The future of Bitcoin is bright. In my opinion, it is better to go with the market than to beat the market. You use the DCA strategy to invest gradually. This way, you will get rid of such thoughts about when to enter the market and when to exit. Even if the Bitcoin price drops, you will have more assets, and even if the price rises, the profit will be accumulated gradually.

I've noticed that people do confuse this term buy the dip and hold for waiting for the dip before buying then hold, no that's not how Bitcoin investment operates, yes you're right that buying the dip is a very good opportunity but an investor shouldn't be waiting for only the dip before they buy cause they'll still miss out on several opportunities while waiting for the dip.

 The price of Bitcoin is increasing fast and periodically so and there's a strategy like DCA, it's helps investors to flow with the market instead beating the market the DCA sets a balance for investment to go smoothly therefore an investor doesn't need to wait for different dips and miss out on opportunities, with the DCA volatility is not a big deal to investor, that's what some investors don't know.

For long-term investments, the DCA method is quite suitable. Regardless of the Bitcoin price, we must continue to buy Bitcoin periodically at the times we set when planning our DCA strategy. This must be done consistently so we don't have to wait for the right time to enter.

However, for some people with a lot of money, I think they should also implement or add other strategies to quickly grow their portfolio, such as buying more when the Bitcoin price is falling. There's no harm in doing this in addition to consistently implementing the DCA strategy.

[Wind_FURY]

The 200-WMA Isn't Perfect: While a powerful tool, the 200-WMA is not an infallible support level. Bitcoin has, on rare occasions, dipped below it. A prolonged period below the 200-WMA could disrupt this strategy.

Although it's possible, you also need to consider that the Federal Reserve and the other Central Banks around the globe will NEVER stop expanding the money supply. Zoom out to the maximum a graph of the "value of fiat". Do the same for Bitcoin's chart.

Tax Implications: Cashing out Bitcoin is a taxable event in most jurisdictions. Your sustainable withdrawal rate must account for capital gains taxes.

That's why I support and encourage that Bitcoin-DeFi should be built and further developed so that if we need fiat to invest/buy something, we could simply use it as collateral to borrow fiat. - The user avoids giving up the ownership of his/her Bitcoin.

[Moreno233]

In general, whether it's starting a business or starting an investment portfolio - the earlie  is ALWAYS better, and it's not my mere opinion. It's a FACT.

Plus it's not only because of the possibility of gaining more profit. It's also because starting early also makes you LEARN early, or make mistakes early so you could learn from them. Making a massive investment error in your 50s is more dangerous for your financial health than if you made it in your 20s.

You are right about this and this is one way I console myself for some of the mistakes I made in my Bitcoin journey. I never had the right information such as investing in Bitcoin mainly and followed in searching for the next Bitcoin when I started, invested in a couple of shitcoins and lost heavily in the process, an experience I look back to and still regret till date. Like you said, it is better to make mistakes early and learn from it early, and that is my case although I learnt at a huge cost.

Console yourself? No ser. You should be happy that it happened. Sometimes learning the HARD WAY makes the process of discovering the right path faster than merely learning the lesson from others. The experience itself is more valuable.

Console is right Sir because no matter how much I try to pretend that it was a learning process, it still hurts seeing how much of my money I have wasted accumulating shitcoins, most of which died in my wallet. I guess I'm human which is why I can still feel those emotions and I think its normal because such mistakes birthed my passion for Bitcoin and also helped put my greed completely in check. Now I know that it is better to stay with Bitcoin and target 3x in a decade than invest in shitcoins that promises 1000x in one year.

My joy is that I'm doing the right thing now, investing mainly in Bitcoin and holding with no intention of selling even in this market cycle and the next.  I have not reach my accumulation goal so I'm still aggressively investing my discretionary income until I meet the target I set for myself in terms of Bitcoin quantity.

Although, if you let me give you some advice. - Be careful about "targets". Don't make them the actual goal, but use them as a sort of guide because you may want to add more Bitcoin that's more than your original "target".

The final destination is overaccumulation stage, and the plan is to achieve that before retiring from active service. I have short term targets like the quantity of Bitcoin I want to achieve this year, in five years time, ten years time and so on. This is just my strategy to ensure I did not slack or get bored on the process. By achieving short term targets, it will be a motivation to pursue the long term targets. Like I said, the final goal is to achieve overaccumulation before retirement.

[bullbandit9]

I SUPPORT BITCOIN-DeFi too, LETS LOOK AT THE BIGGER PICTURE OF HAVING IT

The ability to borrow against Bitcoin without selling it is a powerful tool. It allows individuals and businesses to unlock the liquidity of their assets for various purposes, such as:

Making a down payment on a house

Funding a business

Paying off high-interest debt

Investing in other assets (without selling their Bitcoin)

Your point about Bitcoin-DeFi is spot-on. It represents the natural evolution of Bitcoin as a financial asset. It allows users to have the best of both worlds: the long-term value appreciation of their Bitcoin and the immediate utility of a loan to meet their short-term financial needs. It's a critical step in turning Bitcoin from a "frozen" store of value into a productive and dynamic asset within the global financial system

DeFi is good, but I don't see that much of an advantage in this case over CeFi. Perhaps a little bit in terms of more added competition. If you are going to borrow against Bitcoin to make a down payment on a house, you are anyway KYC'd in this transaction and may need to prove proof of money. My initial guess is that a DeFi lender is more risky based on the number of hacks that have happened, but we've had a few major centralized lenders go bust too. While it is a nice use case, people should remember that the risk is medium to high in both cases.

[Zackz5000]

I doubt anyone is saying that a steady income is not important, but instead saying that a steady income is not required in order to determine to invest into bitcoin.  The thing that is needed is discretionary funds, and discretionary funds can come from a variety of places, including from non steady income sources, or even prior building up of back up funds or even from the use of debt... and yeah, even though a steady income can make things easier, it is not required in order to be able to buy bitcoin.. .what is needed is discretionary funds.

Well, for a prudent fund it is better to have a source of income, because when you only think about your maximum expenses from your monthly income and deposit some money from it in your emergency fund. When you can save a good amount of money in your emergency fund then you can start investing your bitcoin. But I don't think you need a stable income to invest in bitcoin. Yes if you are aware of the risk then you can invest with some amount from your monthly income, let's say if your monthly income is $500 then you can deposit $200 in your emergency fund and with the remaining $200 you can save bitcoin which will be used to save bitcoin along with depositing money in your emergency fund. You can spend the remaining $100 for your maximum and family expenses.

Emergency fund is important because investing in Bitcoin can require a lot of money to overcome a sudden danger in your life, where you can use your emergency fund to cover it and there will be no obstacle in the long term of Bitcoin. If you can patiently complete the long term by investing in Bitcoin, you can be one of the beneficiaries. Having a source of income is very important in emergency fund and Bitcoin long-term investment because this allows you to meet your own expenses and open the way for your emergency fund and Bitcoin investment to move forward in the future. In that case, you can use the DCA strategy because through this you can move your small amount of investment forward and your investment will turn into a strong one in the future.

Investing in Bitcoin doesn't mean you must have a lot of money if this is true then poor wouldn't have been accumulating Bitcoin though many people still have this mindset that Bitcoin investment is only for the rich but this is not true with that your small amount you can still be accumulating Bitcoin provided you have know what should be your discretionary income to get started with, through the DCA strategy you can be accumulating Bitcoin gradually with your small or big amount consistently and persistently either every weeks or every months and hodl for 4-10 years.

[DubemIfedigbo001]

I would think that it would be better to be a guy who had been accumulating bitcoin since 2017 with an average bitcoin cost of $18k** and with 15 BTC ($270k invested) rather than a guy who only has 10 BTC and an average cost of $9k per coin ($90k invested). The second guy ended up investing way less and he has a way lower cost per BTC, yet the first guy ended up investing 3x more, and at the same time, he ended up with 50% more BTC than the more whimpy second guy.  We could illustrate how these kinds of things happen to show that variations of this does end up happening with some guys getting distracted into other things  or trying to time their buys rather than ongoingly buying bitcoin.

**By the way, when I looked at this DCA calculator website, I saw that a guy DCAing bitcoin for the past 8 years would have had achieved around a $13.5k average cost per BTC, so I might be being a bit unfair to the first guy to show him having costs of $18k per BTC.

Admittedly both of the guys are in a decent position and the first guy's 15 bitcoin currently have a 200-WMA value of about $770k and a spot value of $1.8 million... which I think that the 200-WMA would allow him to withdraw perpetually at $77k per year.

The second guy's 10 BTC holdings has a 200-WMA value of $513k and a spot price valuation of nearly $1.2 million, so the second guy could withdraw at a rate of about $51.3k per year.

Which guy would you rather be?

The first guy of course. Firstly, I admire the commitment and consistency of being able to accumulate bitcoin over a long period of time which is in line with my accumulation journey and secondly, having more bitcoin puts you at an obvious advantage just as you explained the first guy would have a higher sustainable withdrawal rate compared to the second investor. The more bitcoin we have, the more advantage we seem to get on the long run, so it is rational for anyone who wants more success in his accumulation journey to put in the work to maintain focus and commitment in their accumulation journey because I believe in a popular saying that the end justifies the means.

[Jostern]

It is hard always to buy the dip because we don't know when the dip is coming. But we have a chance to buy after the dip is coming but still buying in the dip will always give us a big chance to make a big profit later. I always try to buy every dip, and I try to place at a very lower price, but as I said before, I am not too often to get the lowest price, but it's not a problem for me because I can get a lower price.

Perhaps, after I bought the coin, the price will down in 2-3 times then it start to increase so at least I still get a chance to make a profit after a few hours. But if the price is moving so fast, then my chance to make a profit will bigger because I don't have to wait for a long time. That is why we need to place the order buy in many places especially in every lower price so we could get the lowest price to buy.

Yes, it is true that if we can buy the dip, then we will have a chance to profit from it. After the dip comes, it gives us a chance to corner. However, I will advise everyone to try to buy the dip, because you can get it at any price. It is very important to know that it is difficult to buy the dip all the time. To buy it, you must try and place an order. You don't have to wait long after buying it, there is a chance to profit within two to three hours. You don't have to wait long to profit from it. I always try to buy the dip.

How is it that you’re advising people to buy the dip when you don’t know when the dip is going to come, it’s something that is unpredictable just like the volatility nature of Bitcoin, I don’t think you should be advising people to buy the dip, because you can always buy Bitcoin comfortably without waiting for the dip with your discretionary income through the DCA, And the manner you’re sounding with making profit it’s good you understand and know that profit is actually not guaranteed, that is why you should focus more on buying and accumulating consistently.

Buying the dip is really not a bad thing, but you don’t necessarily have to be waiting for the dip to accumulate, you can always buy Bitcoin anytime you want. It’s only when the opportunity of buying a dip present’s itself, bitcoin have actually been made in a manner that is comfortable to accumulate not considering the price of Bitcoin.

[Shadiq]

Investing in Bitcoin doesn't mean you must have a lot of money if this is true then poor wouldn't have been accumulating Bitcoin though many people still have this mindset that Bitcoin investment is only for the rich but this is not true with that your small amount you can still be accumulating Bitcoin provided you have know what should be your discretionary income to get started with, through the DCA strategy you can be accumulating Bitcoin gradually with your small or big amount consistently and persistently either every weeks or every months and hodl for 4-10 years.

Everyone, rich or poor, can invest, if they have discretionary money or a source of discreet income. From my point of view, there may not be a person whose monthly income is less than $200. Maybe there is, but I do not know that. If you can set aside $50 discreet money monthly from this $200, then I think you are still eligible for investment. The amounts mentioned may be more or less, but I think more than $20 discreet money per month is eligible for investment. Although the amount is small, but in the long run that money can be more than the expectation of a person.

So I would say, do not give importance to the amount of income or your position for investment. Rather, give more importance to how much discreet money you can set aside. If you do not have discreet money after meeting your daily needs, then I will say with great sadness that you are not yet eligible for investment. You should look for a discreet source of income and keep the enthusiasm for investment alive. So that you can jump into investing as soon as you find a discreet source of income.

[Sim_card]

Tax Implications: Cashing out Bitcoin is a taxable event in most jurisdictions. Your sustainable withdrawal rate must account for capital gains taxes.

After reaching an over accumulation stage and decides to withdraw using the sustainable withdrawal method, tax payment will be nothing because your portfolio have compounded overtime. Since tax is applicable to your bitcoin withdrawal is the main reason why you should only be buying till you reach your over accumulation target or already old without a discretionary income.

Lifestyle and Flexibility: This strategy assumes a certain level of discipline and the ability to adjust spending if the market enters a prolonged bear phase.

No matter how bear the market will be in future, someone who have been investing into bitcoin for three circles and above will be in profits because the bottom line of the dip in every new circle is always higher that the previous. Also, bitcoin creates a new ATH in every new circle.

 However, you are not to be withdrawing from your bitcoin portfolio constantly, but once in a while, to avoid selling too many bitcoin too soon and be left with little portfolio so that you don't regret your actions.