Buy the DIP, and HODL!

[F- link]

Remember that Bitcoin is not for everyone and not everyone can afford it. We must always accept this reality.

I disagree with you, because Bitcoin is for everyone and everyone can afford Bitcoin, Bitcoin is not something that you need to buy with hudge amount of money, the way Satoshi design Bitcoin, it allows us to buy it fraction by fraction consistently with our discretionary income using the DCA strategy until will accumulate a good portion of it and hold for Long team, let's say 4 to 10 years or longer in other to make good profits from it. So stop discouraging people by saying that Bitcoin is not for everyone, and not everyone can afford to buy Bitcoin, because it's wrong okay.

[Sonia_123]

Of course, those who have implemented this method are considered intelligent and astute, as they no longer care about pursuing short-term profits but instead focus on the long term. Of course, no one wants to miss a market rally when they see a coin's price rise, but the average person has to monitor it, and it's quite a hassle, staring at the screen constantly to avoid getting caught up, as even the slightest movement can quickly lead to a decline.

In my opinion, psychological factors still play a crucial role in maintaining enthusiasm for long-term investing using the DCA technique. This allows one to learn to resist panic, avoid the temptation to sell due to FOMO, and avoid expecting a severe market drop, even during a bear market. Regardless, the final outcome of buying using the DCA model still wins, even if it varies. If we average each purchase transaction, it automatically lowers our average cost.

Remember that Bitcoin is not for everyone and not everyone can afford it. We must always accept this reality. In this context, let me tell you a story, although it is true, it still sounds like a story - a man went to the market to buy Ugu (Telfairia occidentalis) but after standing for a while near the shop, he saw that time was passing and the seller was reducing the price of Ugu a little. So the man waited for a while for the price to come down. The price came down but the man still did not buy it. He waited again for the price to come down. The price did come down but the good fresh Ugu were already sold out. Later, he could not buy any more Ugu. At that moment, his wife called and said that he definitely needed Ugu at home, so he started looking for Ugu in other shops but most of the shops had already sold out. While searching, he found a small quantity of Ugu in one shop but since no other shop had it, the demand for it increased so he had to buy it at a high price, but he did not get the amount of Ugu he needed.
This is consistent with the case of Bitcoin lazy investors (those who wait for the most favorable time to start investing).
Everyone thinks that Bitcoin is just an investment tool and the lower the price they can buy it, the more profitable they will be. But the reality is that the more Bitcoin they have in the future, the more economically prosperous they will be in the future. Therefore, everyone should focus on how to own the maximum amount of Bitcoin without looking at the price.

I disagree with you....Bitcoin wasn't created for some group persons, instead Bitcoin was created for everyone there is no gap in between. Bitcoin was created for the rich, poor, middle class, young, old etc. This mean that you must not have to have millions of dollars in your account before you can begin to accumulate Bitcoin...... Bitcoin is divisible into smaller units called satoshis, this simply means that one can start with even a tiny fraction using the little extra money (Discretionary Income) + your buying strategy (preferably DCA due to its simplicity and lesser worry), and overtime those small and steady accumulation grows into something meaningful and tangible

 Saying is not for everyone does not necessarily means that it doesn't involve everyone, the idea is that some persons still don't believe in bitcoin and so finds it difficlult to invest in bitcoin, they keep given excuses and procrastinating and just watching the market as a reason for not buying bitcoin with a lot of financial opportunities yet do not or is it those set of persons that will buy bitcoin today and sells it off tomorrow all in the bit of being scared of the fall in price and become a no coiner or a low coiner at the end because they lack trust and confidence in bitcoin after seeing its past experiences, you know bitcoin is for long-term investment, yet people has failed recognize that fact, therefore him saying bitcoin is not for everyone one is right because your cannot force someone to do what they really don't want to do .

[JayJuanGee]

[edited out]

Ah no J, I'm not concerned at all about my average cost. I have never been able to read charts to
forecast market shifts. I keep an eye not regularly on the MACD and RSI charts when I am
ready to make another purchase. Personally I know its really difficult to time the market so I dont
really. Take today for example the market has dropped again to $112k from $116 yesterday so I
am getting really close to a buy point, I wont loose sleep if I miss the bottom or it it falls further
after I buy because I know in the long term I really doesnt make much of a difference.

But I am sure there are people who might be obsessed with trying to time the market which is ok,
I can understand they would like to get the "biggest bang for their buck"
I just cant dedicate the time and effort to do it myself, I have never dedicated the time to do it
that way.

2016 was when I got my first Bitcoin and all the subsequent buys through 2017 I couldnt tell you at
what Price and if it was when the market was up or down, It doesnt matter to me 8 years later.

Those are all reasonable points aoluain, even though it may be problematic to point out the errors that other guys are doing without suggesting that there are better ways to go about accumulating bitcoin... and I do consider that it is problematic for newbies to bitcoin to prioritize waiting for BTC price dips rather than just buying regularly, especially in their first 4 years of accumulating bitcoin, unless they happen to be abl eto front load their investment so then they would not have to buy as regularly, yet it still can take a while to build a bitcoin investment, even if a guy were to be able to front load his investment... yet each person still has to judge for himself if he believes that slowing down in the bitcoin accumulation based on thoughts about price makes sense, and newbie guys frequently come to erroneous conclusions, in that direction.

[edited out]

Why is the DCA the best strategy for investing in Bitcoin?
I have been seeing DCA everywhere and you need to tell me what it's all about before I do my research.
For you to invest in Bitcoin I know you are going to allocate money to invest in the market. You buy and hold for many weeks/months/years as long as you want to hold. I want to know more about the DCA everyone has been talking about so I can choose a better investment plan for my altcoins buying and holding.

Instead of being lazy, read the thread and look up some information, so that you can be more specific in your question.

[edited out]

Well ideally, I will say Bitcoin is created for everyone but in actual sense it is not because it is mostly rich and middle class people that are investing in Bitcoin, some people don't even or can't afford a square meal a in day and Bitcoin is not created for these persons because they can not afford to invest no matter how they try unless they will have a change of story which off course doesn't happen to everyone. So Bitcoin is not really created for everyone in actual sense, it is just as we have rich and poor. Everybody can never be rich and at same time everybody can never be poor and anyone who doesn't have the capacity and forced himself or herself will regret.

Anyone with a discretionary income can invest into bitcoin, and yeah some folks are struggling to have a discretionary income, and so if they cannot figure out ways to set money aside  for a long term  such as 4  to 10 years or longer, then it would probably not be good for them to put money into bitcoin.

[edited out]

Saying is not for everyone does not necessarily means that it doesn't involve everyone, the idea is that some persons still don't believe in bitcoin and so finds it difficlult to invest in bitcoin, they keep given excuses and procrastinating and just watching the market as a reason for not buying bitcoin with a lot of financial opportunities yet do not or is it those set of persons that will buy bitcoin today and sells it off tomorrow all in the bit of being scared of the fall in price and become a no coiner or a low coiner at the end because they lack trust and confidence in bitcoin after seeing its past experiences, you know bitcoin is for long-term investment, yet people has failed recognize that fact, therefore him saying bitcoin is not for everyone one is right because your cannot force someone to do what they really don't want to do .

I think that Joeboy was referring to some folks not having an ability to invest in bitcoin due to lack of discretionary funds rather than suggesting that they were choosing not to invest in bitcoin, even though they have discretionary income.

Sometimes it is not clear if a person has discretionary income or not, and so many time real world situations involve determinations of 1) readiness (such as mindset and priority) 2) willingness  (finding bitcoin as being important and/or a priority) and 3) ability (having discretionary funds)

[Tungbulu]

[edited out]

Ah no J, I'm not concerned at all about my average cost. I have never been able to read charts to
forecast market shifts. I keep an eye not regularly on the MACD and RSI charts when I am
ready to make another purchase. Personally I know its really difficult to time the market so I dont
really. Take today for example the market has dropped again to $112k from $116 yesterday so I
am getting really close to a buy point, I wont loose sleep if I miss the bottom or it it falls further
after I buy because I know in the long term I really doesnt make much of a difference.

But I am sure there are people who might be obsessed with trying to time the market which is ok,
I can understand they would like to get the "biggest bang for their buck"
I just cant dedicate the time and effort to do it myself, I have never dedicated the time to do it
that way.

2016 was when I got my first Bitcoin and all the subsequent buys through 2017 I couldnt tell you at
what Price and if it was when the market was up or down, It doesnt matter to me 8 years later.

Those are all reasonable points aoluain, even though it may be problematic to point out the errors that other guys are doing without suggesting that there are better ways to go about accumulating bitcoin... and I do consider that it is problematic for newbies to bitcoin to prioritize waiting for BTC price dips rather than just buying regularly, especially in their first 4 years of accumulating bitcoin, unless they happen to be abl eto front load their investment so then they would not have to buy as regularly, yet it still can take a while to build a bitcoin investment, even if a guy were to be able to front load his investment... yet each person still has to judge for himself if he believes that slowing down in the bitcoin accumulation based on thoughts about price makes sense, and newbie guys frequently come to erroneous conclusions, in that direction.

There's this natural tendency that most newbies might wanna optimize their portfolio by attempting to accumulate Bitcoin only/mostly during DIPs. and looking at this mindset from a surface perspective, it might actually sound like quite a smart move, buying low huh? But when you look at it from a practical perspective, it's almost bound to always backfire, well except the individual in question is very disciplined, have some good level of experience with how Bitcoin tends to move and emotionally detached, and this isn't qualities a newbie is most likely to possess.. It mostly ends in them sitting around and waiting for a dip that may likely not even come the way they feel it would, which may potentially lead to them missing out on sharp buying opportunities.

The irony here is that, attempting to always time the market is one of the major things that often keeps folks underexposed. They turn themselves to spectators, rather than actual investors, and one secret that most investors don't know about Bitcoin is that, being an active and consistent participant, especially during the early days of your Bitcoin journey, is way more valuable and profitable than just sitting around and trying to outsmart the market.
Now, about front loading, indeed it can be pretty effective, but that is if the individual has the means and conviction, But that doesn't mean that it's some magical shortcut. it's crucial to note that applying or deploying a lump sum doesn't in any way guarantee that one would have emotional comfort market volatility. and even if someone goes ahead to front load, without really having full understanding of what they're holding, they might still end up getting shaken out during market downturns, so even when folks decides to front load their investments, it's importand to still maintain a long term mindset as well as mental resilience.

I've come to the realization that regular accumulation, (doesn't matter whether it's strictly DCA or some hybrid approach) is a way more solid approach, compared to other approaches, especially when you're still in your first cycle. during this first four years, it's less about timing or outsmarting the market and about blending in and getting more acquainted with the game. The moment that you have successfully built a foundational stack and have weathered a few price cycles, then surely, you'll be free to think about applying a more tactical approach, because at that point, you must have already gathered much experience. I also see a lot of investors who slow their accumulation pace or even completely stop accumulation, due to short term expectations from the market, which is one of the worst mistakes any investor could ever make. they end up confusing being smart for being hesitant, and by this sudden hesitation, they end up missing out on the compounding effect that comes with consistently and actively being involved in the market. They also tend to forget that Bitcoin is a long term game and it tends to reward those who prioritize time and conviction over cleverness.

[Sticky Bomb]

therefore him saying bitcoin is not for everyone one is right because your cannot force someone to do what they really don't want to do .

No, I disagree with you. Bitcoin is for everyone but you can choose to key into the digital revolution and grab some for yourself or keep spectating on it and miss out. If you say Bitcoin is not for everyone, then your rather referring to Bitcoin as being controlled or centralized to some kind of people and the investment opportunity in it not open to everyone who wishes to partake in it. Of course anyone who has access to a device and Internet connection can go ahead and purchase Bitcoin for themselves demonstrating the inclusion of everyone in Bitcoin acquisition and holding
 
So I repeat again Bitcoin is for everybody and that's the beauty of decentralization and censorship resistance, anyone and everyone can choose to get into Bitcoin when they want since it's neither controlled nor owned by anyone.

[Tamaperdana]

Remember that Bitcoin is not for everyone and not everyone can afford it. We must always accept this reality.

I disagree with you, because Bitcoin is for everyone and everyone can afford Bitcoin, Bitcoin is not something that you need to buy with hudge amount of money, the way Satoshi design Bitcoin, it allows us to buy it fraction by fraction consistently with our discretionary income using the DCA strategy until will accumulate a good portion of it and hold for Long team, let's say 4 to 10 years or longer in other to make good profits from it. So stop discouraging people by saying that Bitcoin is not for everyone, and not everyone can afford to buy Bitcoin, because it's wrong okay.

Yes, Bitcoin was created by Satoshi so that anyone could buy it, regardless of race, religion, or anything else. So, if you say Bitcoin isn't for everyone, I think that assumption is completely wrong. Also, if you mean that poor people shouldn't buy Bitcoin, I think, financially, that's both true and false. Basically, even poor people, if they have a strong desire to invest in Bitcoin, I think they can. As long as there's a desire, I think there's a way. Even rich people don't necessarily want to buy Bitcoin if they're not interested. So, the bottom line is, whether rich or poor, I think we just need a desire to invest in Bitcoin, and sooner or later, we'll be able to invest in Bitcoin. Therefore, I disagree with the assumption that Bitcoin isn't for everyone. Basically, if there's a desire, anyone can buy Bitcoin.

[Wind_FURY]

Bitcoin might be a mere investment for some of you, an investment that you might sell later. But let me tell you that Bitcoin has larger implications in the world. It's built for something bigger.
In Nepal, during the recent toppling of the previous regime, the protesters started using Bitcoin as a statement saying that the banks can't be trusted, that politicians can't be trusted.
If you truly want to sell, then sell. BUT, my fellow plebs, do HODL some for your own good.

Looking at history and thinking about the future, it is certainly reasonable to keep investing in Bitcoin. Maybe Nepal is ready to sell their Bitcoin but more unique countries are becoming more aggressive in holding Bitcoin. But not only Nepal, you should look at all the countries where Bitcoin is legal, including El Salvador, United Arab Emirates, and you will definitely find proof of its truthfulness, how important Bitcoin is for the future. And not only that, look at all the other treasury companies, including Metaplanet Company and MSTR Company, you will definitely find more truthfulness.
That is why it is better for all people to invest in Bitcoin according to the DCA method, if you invest in Bitcoin according to the DCA method, all investors will be able to invest in Bitcoin according to their ability and can hold it for a long time.

Although all that that you have said in your post are true, and that they all make Bitcoin's market value go up, the point of my post how Bitcoin is valuable to plebs like us because, like in Nepal, in those times when a chaotic/unpredictable situation happens in our own countries/regions, we could always depend on Bitcoin as a fall-back in case the banks are incapable of maintaining their service.

Bitcoin would actually have HIGH value in such situations.

[bestcandy]

Why is the DCA the best strategy for investing in Bitcoin?
I have been seeing DCA everywhere and you need to tell me what it's all about before I do my research.
For you to invest in Bitcoin I know you are going to allocate money to invest in the market. You buy and hold for many weeks/months/years as long as you want to hold. I want to know more about the DCA everyone has been talking about so I can choose a better investment plan for my altcoins buying and holding.

DCA is the best way to invest in Bitcoin because it allows you to invest without any financial pressure. It is possible to invest for a long time by following the DCA method. Since you have to buy Bitcoin regularly, you can buy Bitcoin in all situations, whether the price of Bitcoin is low or high. Since DCA is followed with discretionary income and an emergency fund and reserve fund are formed along with it, you can invest for a long time and the chances of success increase a lot.

Another question you asked is whether there is any kind of investment option other than buying shitcoin. In fact, you should not invest in this type of scam coin. These altcoins sometimes increase in price artificially and many people start investing and become rich very quickly. As a result, some people may make a profit, but they face maximum losses. You should not invest in this type of fraudulent currency. If you want to invest for your future security, then you can invest in Bitcoin by following DCA with discretionary income and deciding to invest for 4 to 10 years. Your chances of success in the future will increase a lot. There is no question of being a victim of fraud by investing in shitcoins outside of Bitcoin.

DCA mean dollars cost average, it's a Bitcoin investment strategies that allow investor to invest in Bitcoin by consistently buying a certain fraction of Bitcoin in a given time interval. It gives opportunity to a low income earners, middle class and the rich to accumulate Bitcoin regardless of their financial capacity.

[Joy- maker]

For clarity attempting to time the market before making purchases of Bitcoin does not define DCA strategy because by definition it entails buying Bitcoin without any form of timing the market so any investor attempting to time the market before buying Bitcoin has already gotten a shift from the use of DCA to another strategy which should be the buying the dip and can no longer be considered as DCA even if he DCA from the previous buying, timing the market is not associated with the real definition of the DCA strategy and usage it doesn't tally.

Listen, the DCA method is not that it has to be correct from time to time, according to the DCA method, we understand that this will happen only if the purchase of Bitcoin is regular. You may have some gaps, so we will not give much importance to it, we will give importance to the purchase of Bitcoin. If we buy Bitcoin weekly, we will buy Bitcoin regularly on a weekly basis so that we can buy Bitcoin four times a month and add it to the main holding.
Because we have to keep in mind that if we invest according to the DCA method, my investment is constant, and saving on the purchase price is created, this is my most significant point.

you might be partially correct on this your explanation that DCA strategy might not be correct from time to time, and again this your explanation above can also mislead a lot of newbies. Instead I we say this for easy clarification, that  DCA has to do with investing a fix amount of money in bitcoin at a regular intervals without looking at the market conditions. And  Investing using DCA strategy regularly will make you to avoid trying to time the market. DCA strategy also make you to be consistence in accumulating bitcoin with your discretionary income without dolly until you reach your accumulating target and then hold for long term 4 to 10 years or longer.

[IceLincoln]

Why is the DCA the best strategy for investing in Bitcoin?
I have been seeing DCA everywhere and you need to tell me what it's all about before I do my research.
For you to invest in Bitcoin I know you are going to allocate money to invest in the market. You buy and hold for many weeks/months/years as long as you want to hold. I want to know more about the DCA everyone has been talking about so I can choose a better investment plan for my altcoins buying and holding.

Franklyn Wood, is it that you’re lazy to read or you don’t understand what you’ve read, if the latter is the case then put your question to where or what it is you don’t understand.
There are tons of information on the forum and especially in this thread that you can read and fully understand What DCA (Dollar Cost Average) is and how it can be applied and why it’s best for you. Good thing you said you’ve been hearing it, or seeing it DCA everywhere so go back and read up all those posts and comments.
As a Newbie you should do more of reading and researching to know things yourself. The Forum will help you if you’re willing to learn and help yourself first.

[Kagaru]

Yes, Bitcoin was created by Satoshi so that anyone could buy it, regardless of race, religion, or anything else. So, if you say Bitcoin isn't for everyone, I think that assumption is completely wrong. Also, if you mean that poor people shouldn't buy Bitcoin, I think, financially, that's both true and false. Basically, even poor people, if they have a strong desire to invest in Bitcoin, I think they can. As long as there's a desire, I think there's a way. Even rich people don't necessarily want to buy Bitcoin if they're not interested. So, the bottom line is, whether rich or poor, I think we just need a desire to invest in Bitcoin, and sooner or later, we'll be able to invest in Bitcoin. Therefore, I disagree with the assumption that Bitcoin isn't for everyone. Basically, if there's a desire, anyone can buy Bitcoin.

I guess the real issue here is access and mental preparation. Technically Bitcoin is for everyone because it can be broken down to 8 decimal places and anyone can start with rather little money. The DCA method has the advantage of buying in small portions which helps to gradually save a good amount.

But the reality is frankly different. Not everyone is financially stable or has a risk taking mindset. We have seen in history during the bull runs of 2017 and 2021 many new investors rushed in and sold out in panic when the price dropped again. So technically Bitcoin is actually for everyone but in reality only those people who have the at the end of the day patience understanding and ability to take to be honest risks will succeed.

In actually other words whether frankly poor or rich financial situation and mental preparation are essential before investing. Otherwise just having technical access is not enough.

[Kelward]

therefore him saying bitcoin is not for everyone one is right because your cannot force someone to do what they really don't want to do .

No, I disagree with you. Bitcoin is for everyone but you can choose to key into the digital revolution and grab some for yourself or keep spectating on it and miss out. If you say Bitcoin is not for everyone, then your rather referring to Bitcoin as being controlled or centralized to some kind of people and the investment opportunity in it not open to everyone who wishes to partake in it. Of course anyone who has access to a device and Internet connection can go ahead and purchase Bitcoin for themselves demonstrating the inclusion of everyone in Bitcoin acquisition and holding
 
So I repeat again Bitcoin is for everybody and that's the beauty of decentralization and censorship resistance, anyone and everyone can choose to get into Bitcoin when they want since it's neither controlled nor owned by anyone.

I disagree with you Sticky Bomb, you cannot say that something is for everybody when some people don't value it. If you despise something or you're allergic to it then it cannot be for you, you cannot expect everybody to like Bitcoin because you know that it is a profitable asset. Bitcoin makes so much sense to you and me but it'll be seen as dumb by another person and to that person it can be a scam. When Bitcoin was created it wasn't for me then because I thought that it was a special Ponzi scheme and I missed out

What you should rather say is that Bitcoin is available and beneficial for everybody, it doesn't discriminate, it is decentralized and anybody can hold it. Bitcoin only benefits those that holds it, you're either in or out, that is why it's adoption is increasing. Individuals and institutions that were skeptical about Bitcoin are now getting in. No matter how valuable something is if you don't value it then it's not for you.

[centrum]

For clarity attempting to time the market before making purchases of Bitcoin does not define DCA strategy because by definition it entails buying Bitcoin without any form of timing the market so any investor attempting to time the market before buying Bitcoin has already gotten a shift from the use of DCA to another strategy which should be the buying the dip and can no longer be considered as DCA even if he DCA from the previous buying, timing the market is not associated with the real definition of the DCA strategy and usage it doesn't tally.

DCA means Dollar Cost Averaging. it is an investment strategy. where you do not have to invest a large sum at once. you can buy bitcoin with a fixed amount weekly or monthly. for example if you want to buy $120k worth of bitcoin but you do not have enough money. you can following DCA method. you can buy $10k of btc each month for 12 months, and after a year, your target will be reached. the advantage is that when the price drops, you buy more btc, and when the price rises you buy less. at the end of the year, you get an average price.
 
 For example:
 
- month 1: btc price $100 → invest $100 → get 1 btc
 
- month 2: btc price $50 → invest $100 → get 2 btc
 
- month 3: btc price $200 → invest $100 → get 0.5 btc
 
total spent: $300 total coins: 3.5 btc average price per btc: $300 ÷ 3.5 = $85.71
 
advantages: you don’t have to worry about market ups and downs. long-term investing can increase profit. mental stress is less. beginners can invest easily.

disadvantages: if the market only rises, buying all at once could be better. if investing short-term, DCA may give less profit. DCA is a method of gradually investing in bitcoin over time to reduce losses and get a good average price.

[Stormisover]

For clarity attempting to time the market before making purchases of Bitcoin does not define DCA strategy because by definition it entails buying Bitcoin without any form of timing the market so any investor attempting to time the market before buying Bitcoin has already gotten a shift from the use of DCA to another strategy which should be the buying the dip and can no longer be considered as DCA even if he DCA from the previous buying, timing the market is not associated with the real definition of the DCA strategy and usage it doesn't tally.

DCA means Dollar Cost Averaging. it is an investment strategy. where you do not have to invest a large sum at once. you can buy bitcoin with a fixed amount weekly or monthly. for example if you want to buy $120k worth of bitcoin but you do not have enough money. you can following DCA method. you can buy $10k of btc each month for 12 months, and after a year, your target will be reached. the advantage is that when the price drops, you buy more btc, and when the price rises you buy less. at the end of the year, you get an average price.
 
 For example:
 
- month 1: btc price $100 → invest $100 → get 1 btc
 
- month 2: btc price $50 → invest $100 → get 2 btc
 
- month 3: btc price $200 → invest $100 → get 0.5 btc
 
total spent: $300 total coins: 3.5 btc average price per btc: $300 ÷ 3.5 = $85.71
 
advantages: you don’t have to worry about market ups and downs. long-term investing can increase profit. mental stress is less. beginners can invest easily.

disadvantages: if the market only rises, buying all at once could be better. if investing short-term, DCA may give less profit. DCA is a method of gradually investing in bitcoin over time to reduce losses and get a good average price.

For an investor being intentional about taking investment decisions based on market conditions doesn't seem to be an effective strategy for me, if the plan is to buy and hold for long then whatever price you consider to be high as when the price rises will still a dip tomorrow when Bitcoin will make new highs, am not encouraging the idea of being intentional about buying less when the price rises and buying more when the price drops, buying with the available % of discretionary income I will choose to invest with without considering the market conditions more effective for me because I will be free from any form of fear and greed index over the market fluctuations.

[Silikiem]

In actually other words whether frankly poor or rich financial situation and mental preparation are essential before investing. Otherwise just having technical access is not enough.

I think you don’t have to wait till you get all the  mental preparations or anything before getting started in bitcoin investment. I may agree with you in terms of finance because that’s what you need to get started in accumulating and investing In bitcoin. As a matter of fact, you don’t need to be financially bullish or buoyant before you can get started in bitcoin investment, no matter how lowly or high an individual financial position is, at the end of the day all that is needed is to be able to figure out a discretionary income to accumulate and invest in bitcoin.
The most important step here is to figure out a discretionary income and get started first in accumulating bitcoin and hold for the long term strategy or goal, and along the line you can be figuring out ways to improve your finances and also improve with the mental aspect of handling your finances or investments In order to make good decisions that will further help you towards achieving a significant success in your bitcoin investment.

[arwin100]

In actually other words whether frankly poor or rich financial situation and mental preparation are essential before investing. Otherwise just having technical access is not enough.

I think you don’t have to wait till you get all the  mental preparations or anything before getting started in bitcoin investment. I may agree with you in terms of finance because that’s what you need to get started in accumulating and investing In bitcoin. As a matter of fact, you don’t need to be financially bullish or buoyant before you can get started in bitcoin investment, no matter how lowly or high an individual financial position is, at the end of the day all that is needed is to be able to figure out a discretionary income to accumulate and invest in bitcoin.
The most important step here is to figure out a discretionary income and get started first in accumulating bitcoin and hold for the long term strategy or goal, and along the line you can be figuring out ways to improve your finances and also improve with the mental aspect of handling your finances or investments In order to make good decisions that will further help you towards achieving a significant success in your bitcoin investment.

They usually get a hard time on their investment especially if they make everything complicated to them.

If they just buy Bitcoin then HODL it then for sure that they won't face any of those issues. I understand that situation they have mentioned is somehow good to consider, but if those things could cause delays and it put them on unsure situation then I guess they are not doing the right things since they keep delaying everything and might they regret their decision about not starting up early. Will to buy and capital is needed to start then they should try to add those things needed to succeed on their long term plans on Bitcoin.

[Loyang]

DCA means Dollar Cost Averaging. it is an investment strategy. where you do not have to invest a large sum at once. you can buy bitcoin with a fixed amount weekly or monthly. for example if you want to buy $120k worth of bitcoin but you do not have enough money. you can following DCA method. you can buy $10k of btc each month for 12 months, and after a year, your target will be reached. the advantage is that when the price drops, you buy more btc, and when the price rises you buy less. at the end of the year, you get an average price.
 
 For example:
 
- month 1: btc price $100 → invest $100 → get 1 btc
 
- month 2: btc price $50 → invest $100 → get 2 btc
 
- month 3: btc price $200 → invest $100 → get 0.5 btc
 
total spent: $300 total coins: 3.5 btc average price per btc: $300 ÷ 3.5 = $85.71
 
advantages: you don’t have to worry about market ups and downs. long-term investing can increase profit. mental stress is less. beginners can invest easily.

disadvantages: if the market only rises, buying all at once could be better. if investing short-term, DCA may give less profit. DCA is a method of gradually investing in bitcoin over time to reduce losses and get a good average price.

If a person invests on the price of Bitcoin, its fluctuations, then this will never be the right decision for him. A person should always continue to buy continuously until he reaches the goal of building his portfolio. If a person buys irregularly, then his investment may be reluctant. For example, we never know when the price of Bitcoin will go up or when it will go down. If a person waits for the fall to buy with a larger amount of money, then he will lag behind in building his portfolio. If a person continues to buy with $ 50 every week or every month, then he should always continue to buy with the same amount of money. As you said, if the price of Bitcoin is high, invest with a smaller amount of money, if you invest with a smaller amount, you can lag behind your portfolio building goal. You should always continue to buy continuously.

I do not think it is a right decision to keep the money to buy aggressively even during the fall. Because no one can tell when the fall will come. If you do not fall as expected, you will not buy, so it would be best to invest with the money you have without saving it.

You are investing and besides, if you save money to buy aggressively during the fall. For example, if you started investing today and started investing with $50 and are saving $10 to buy aggressively. Suppose today the price of Bitcoin is $100. If there is no fall in the Bitcoin market in the last 1 year and the price of Bitcoin reaches $1000 during this year and if it falls after that, if the price of Bitcoin decreases by $200 during the fall, you will still be behind by buying aggressively. For example, if Bitcoin was worth $100 before and is currently $800, then if you had bought with $100 without saving it in advance, you would have made a lot of profit. So you should never wait. You have money, that means continue investing.

[Creeper0]

I think you don’t have to wait till you get all the  mental preparations or anything before getting started in bitcoin investment.

To start investing, you need to be mentally prepared so that you can start investing freely and have confidence in the investment. If you have not yet been able to establish enough confidence in the investment due to lack of knowledge or your mental state is not suitable for investment, then I think it is not wrong for you to delay the investment for a while. For example, if there is a disruption in your normal life due to some issue, if any incident around you disturbs you mentally or if there is a shadow of grief in your family or your personal life. In these situations, I think your mental state is not at all conducive to investment. Or you must be mentally prepared before making any long-term risky decision. This requires some time and good advice. However, it is not at all appropriate to delay the investment by making excuses, I do not see anything wrong in delaying it for any reason.

[Jostern]

Remember that Bitcoin is not for everyone and not everyone can afford it. We must always accept this reality.

I disagree with you, because Bitcoin is for everyone and everyone can afford Bitcoin, Bitcoin is not something that you need to buy with hudge amount of money, the way Satoshi design Bitcoin, it allows us to buy it fraction by fraction consistently with our discretionary income using the DCA strategy until will accumulate a good portion of it and hold for Long team, let's say 4 to 10 years or longer in other to make good profits from it. So stop discouraging people by saying that Bitcoin is not for everyone, and not everyone can afford to buy Bitcoin, because it's wrong okay.

There is slightly some bit of different opinion sincerely speaking Bitcoin is for everyone and it can only be for everyone when you have a cashflow and discretionary income to start investing and continue accumulating, I think you can only invest in bitcoin when you have a discretionary income, but the question should be when you don’t have a discretionary amount can you be able to invest in bitcoin? I think there are people who invest in bitcoin with money meant for paying for their expenses and other expenditures but that is definitely a bad way of investing in bitcoin, which might be a blunder in the sense that we might end up causing blunder with our investment.

Definitely we can say bitcoin is meant for everyone, but the challenge is having a discretionary income, someone who doesn’t have a job and is jobless and doesn’t have a cashflow would have a financial challenge investing in bitcoin, because it’s only when you have a cashflow and discretionary amount we can possibly invest in bitcoin.

[Alonso_]

Yes, Bitcoin was created by Satoshi so that anyone could buy it, regardless of race, religion, or anything else. So, if you say Bitcoin isn't for everyone, I think that assumption is completely wrong. Also, if you mean that poor people shouldn't buy Bitcoin, I think, financially, that's both true and false. Basically, even poor people, if they have a strong desire to invest in Bitcoin, I think they can. As long as there's a desire, I think there's a way. Even rich people don't necessarily want to buy Bitcoin if they're not interested. So, the bottom line is, whether rich or poor, I think we just need a desire to invest in Bitcoin, and sooner or later, we'll be able to invest in Bitcoin. Therefore, I disagree with the assumption that Bitcoin isn't for everyone. Basically, if there's a desire, anyone can buy Bitcoin.

I guess the real issue here is access and mental preparation. Technically Bitcoin is for everyone because it can be broken down to 8 decimal places and anyone can start with rather little money. The DCA method has the advantage of buying in small portions which helps to gradually save a good amount.

But the reality is frankly different. Not everyone is financially stable or has a risk taking mindset. We have seen in history during the bull runs of 2017 and 2021 many new investors rushed in and sold out in panic when the price dropped again. So technically Bitcoin is actually for everyone but in reality only those people who have the at the end of the day patience understanding and ability to take to be honest risks will succeed.

In actually other words whether frankly poor or rich financial situation and mental preparation are essential before investing. Otherwise just having technical access is not enough.

I think this is quite a simple scenario that we are talking about here, Bitcoin is for everyone as simple as possible that we can say it, when you have a discretionary income first of all to start investing then Bitcoin is for you to be taken and start investing, You literally need money to buy Bitcoin, it’s not like we are buying Bitcoin for free, So in the society we find out that there are people who are jobless and idol and have nothing doing, they even struggle to pay for their bill and expenses, are we also going to be saying that Bitcoin is for them also ?

The reality of life is different from each other part of the world that we find ourselves, Like people who are in the western world, the world there is quite different from people who find themselves in most Africa and Asia, if you’re not financially viable and have a cashflow with a discretionary income you can’t invest into Bitcoin, not like in a country where the economy is hard and difficult to make ends meet. We just need little discretionary income to invest in bitcoin, but there are people who doesn’t have it because of their situation, so is bitcoin for them in that particular circumstance.