Buy the DIP, and HODL!

[Dareo]

Therefore, I believe delaying investing in Bitcoin until we have discretionary funds is a bad idea. Time is ticking and can't be undone.

Don't you think you are getting it wrong here? That we should invest in bitcoin even when we have not figured out if we have a discretionary income to invest so i believe it's still ok to wait if there is no discretionary income to get started with.
The reason you should invest with your discretionary income is that things might not go as have plan it might go dip so if you invest with discretionary and such thing happens to occur you won't get your self up set because you invested with what you are afford to loss .

Investing with a non discretionary income is a risk that even old and experienced bitcoin Investors are not to make not to talk of newbies who can't control their financial crisis rightly. Everyone is entitled to his opinion but what happens after the opinion is also personal. Discretionary income is the ultimate beginning in bitcoin investment as long as bitcoin is concerned. Bitcoin volatility is not easy to understand not bear when it dips beyond our expectations. So investing with funds meant for other purposes or borrowing money to invest could destabilise a person's economy and cause financial stress which could lead to selling at loss.

After learning about bitcoin, the next thing is to strategy on how to raise a discretionary income for your investment. You may not wait for a huge amount, you can start as little as you can afford as far as it's a discretionary income. Don't let anyone push you into the financial mistake of investing with money meant for other responsibilities or borrowing to invest, your personal attitude to bitcoin would determine if you will have a successful bitcoin accumulation process.

I think the key here is to properly balance both time and money for investment. You say that time is running out so you should enter quickly without waiting for discretionary funds. But history has repeatedly shown that investing in a hurry especially with responsibility money or borrowed money has a much higher risk of loss in the long run. On the other hand those who made DCA from discretionary income even if it was a small amount had less stress. Because they knew that even if they lost this money their daily life would not be affected. And in the long run history has proven that if you hold on to a 4 year cycle Bitcoin almost always reaches new highs. So there is nothing to fear about time running out but the main question is how can you survive in investing.

FOMO is the biggest enemy of investors. The market moves in such a way that new opportunities always come. If someone missed an opportunity in 2013 or 2017 and was disappointed they got a new opportunity again in 2020 or 2021. So entering the market late is not bad but entering it incorrectly is bad. Using time as an excuse and starting to invest with your money responsibly creates a cycle of risk. Rather it is the safest and most effective way to start investing in small steps by gradually building a discretionary fund.

[ruykeri]

[



I disagree with you on this, Satoshi didn't create or design Bitcoin for people to get it little by little that is wrong, have you forgotten that Bitcoin was not created at $100k and above? When Bitcoin was created it was below $300 I guess and I'm sure Satoshi didn't know Bitcoin will be this great in years coming even though he might have the intention that it can be use as alternative method with fiat. So what you stated is not true. Back then you can literary buy as money Bitcoin as you want with 1-$2k, Bitcoin was not created at this stage it is now rather it started from somewhere and get to this present stage and that is why we say Bitcoin has potential and it will keep growing.

It is wrong to think that bitcoin was created to be acquired in a whole because you can get bitcoin in fractions. I was actually having this mindset before that you can only buy bitcoin in a whole. This kind of thinking is what makes some set of people to think that bitcoin is too expensive because they feel that you can't buy bitcoin in fractions. Also is very to think that the person that created bitcoin never knew that it will get to this level. I think if there is anyone that ever believe that bitcoin will get to this level or more than this level is satoshi.

Bitcoin should be bought and held regularly based on how much more profit it will make in the long run. In 2016, 1 Bitcoin could be bought for $400, now it costs $112K+ to buy a Bitcoin. In the last 10 years, the price of Bitcoin has increased by hundreds of times. Now it is not possible to buy a whole Bitcoin with less money than before. But if we calculate the valuation of Bitcoin in the future, then if someone follows DCA for 4 to 10 years with less money and cannot buy the whole 1 Bitcoin, there is no problem. Because after 10 years, the value of every Satoshi he has will be several times higher. So even if he cannot buy a whole Bitcoin or a whole Bitcoin, there is no problem because after a long time, the profit will be many times higher than the investment.

[Joy- maker]

Therefore, I believe delaying investing in Bitcoin until we have discretionary funds is a bad idea. Time is ticking and can't be undone. Rather than training our mentality first, it's better to just start investing. I emphasize again that this mentality will naturally develop once we start investing, and a naturally formed mentality is better. Because, the real test lies in real-world situations.

your going to mislead newbies with this your statement above, because bitcoin investment is suppose to be done within your Discretionary income and not outside your Discretionary income, if you invest in bitcoin with money meant for settling your basic needs and your expenses, buddy you will end up selling off your bitcoin investment at early stage of accumulation and in lost in other to attend to basic needs and your expenses, so you have to figure out if you have discretionary income first if you can get started with bitcoin, because from your discretionary income you will invest in bitcoin and also from your discretionary income you will build up your emergency fund and backup fund to avoid dipping hand into your bitcoin investment to settle emergencies when they arises, sine there be emergency fund and backup fund to handle those emergencies.

[JayJuanGee]

Therefore, I believe delaying investing in Bitcoin until we have discretionary funds is a bad idea. Time is ticking and can't be undone.

Don't you think you are getting it wrong here? That we should invest in bitcoin even when we have not figured out if we have a discretionary income to invest so i believe it's still ok to wait if there is no discretionary income to get started with.
The reason you should invest with your discretionary income is that things might not go as have plan it might go dip so if you invest with discretionary and such thing happens to occur you won't get your self up set because you invested with what you are afford to loss .

I do not agree with the stance that one should invest quickly, as time is ticking. If anyone has such a mindset, then he will surely incur losses, or even if he does not sell at a loss, his portfolio will be in unrealized losses. One should invest after due diligence and also in parts. People usually invest all in bitcoin (or any other altcoins) at once, thinking that it will only go up from here.

Investors need to understand the market but unfortunately, most people come into cryptocurrencies thinking that they will become rich overnight. That's the reason most people lose money in crypto, and very few are able to make a profit from it.

We are talking about bitcoin in this thread - not shitcoins. 

It is confusing and misleading to suggest that investing into shitcoins is the same or even similar to investing into bitcoin, even if you mght be striving to ONLY focus on the top 10 to 20 shitcoins (in terms of their supposed market cap).

[edited out]

I think the key here is to properly balance both time and money for investment. You say that time is running out so you should enter quickly without waiting for discretionary funds. But history has repeatedly shown that investing in a hurry especially with responsibility money or borrowed money has a much higher risk of loss in the long run. On the other hand those who made DCA from discretionary income even if it was a small amount had less stress. Because they knew that even if they lost this money their daily life would not be affected. And in the long run history has proven that if you hold on to a 4 year cycle Bitcoin almost always reaches new highs. So there is nothing to fear about time running out but the main question is how can you survive in investing.

FOMO is the biggest enemy of investors. The market moves in such a way that new opportunities always come. If someone missed an opportunity in 2013 or 2017 and was disappointed they got a new opportunity again in 2020 or 2021. So entering the market late is not bad but entering it incorrectly is bad. Using time as an excuse and starting to invest with your money responsibly creates a cycle of risk. Rather it is the safest and most effective way to start investing in small steps by gradually building a discretionary fund.

This last statement of your post goes to show that you don't seem to understand what is discretionary funds, which may well show that you don't understand how to manage your investment choices (whether referring to bitcoin or otherwise) and/or how to manage your cashflow. Nothing wrong with not understanding since we are here to learn, even though your overall post is lecturing, even though you seem to not understand a fairly basic concept.

 Maybe you can try explaining discretionary funds, again?  and how does discretionary funds fit into how a person chooses to invest?  How are you proclaiming that we "build a discretionary fund? and for what purpose is this discretionary fund that we are supposed to be building?

[sotelorene]

Therefore, I believe delaying investing in Bitcoin until we have discretionary funds is a bad idea. Time is ticking and can't be undone.

Don't you think you are getting it wrong here? That we should invest in bitcoin even when we have not figured out if we have a discretionary income to invest so i believe it's still ok to wait if there is no discretionary income to get started with.
The reason you should invest with your discretionary income is that things might not go as have plan it might go dip so if you invest with discretionary and such thing happens to occur you won't get your self up set because you invested with what you are afford to loss .

I believe this is two dimensional stuff in the sense that if one can be able to start investing in Bitcoin without discretionary for a start and can be able to handle any situation that will come then i think it is fine but if you can not then it will be a terrible and a remarkable mistake for that investor and in this case it will be better not investing at all. it is very much advisable to always use our discretionary Income to invest so that you know and you will be aware you are not touching money meant for other things and there is no point hasitating about this Investment.

[Dogedegen]

Yea, you are actually right @Dogedegen. One bad shitcoin investment can mess your financial life up. I have a friend who believes so much in shitcoins investment. Just last week he chartted me up, complaining of how he lost 700k Nigerian currency to an online shitcoins investment scheme, and the loss has drastically and/or completely drained his physical business. It is at this point of regret he spoke of a better and more reliable investment means, which is Bitcoin, but according to him, waiting for so long for the investment has always been his problem.

At this point I asked him, would he rather invest in shitcoins and expect quick returns and loose all your money just like what happened now, or it's better you invest in Bitcoin gradually and Hodl and be sure of your future gains? He thought about it for a while and then said the one that provides assurance for future worth and value is the best, then I told him welcome.

Thanks, you understand it. People tend to preach this unaware that this is the definition of survivorship bias. For every successful story there is a huge number of failed stories. Most people who diversified from Bitcoin to shitcoins have lost money, few are the lucky ones that are preaching the stories of success to the average folk. These stories have their reason, the people who believe them will be the exit liquidity for those who bought shitcoins early. Almost anyone who has even bought Bitcoin in any point in history is in profit. This can be said only about a few altcoins and this fact also makes this bias worse. If BNB recently reached an ATH people focus on the fact that it is possible, and not on the fact that more than 4 million other altcoins or tokens have a negative price performance!

You make it sound as if poor people have moral problems.

Sure, there sometimes are reasons why people are poor that relate to individual responsibility, but other times, they might have had started out in a position in which it might not have had been very likely that they would have had been able to get out of their poverty status.

Not moral, mental issues. This is most often the case for people who have grown up in poverty. They wanted many things but they could get practically nothing and they could see other children and getting these things. This is normal though, it is scientifically documented. Some of them avoid this issue completely and stay humble, others cure it through a few sprees if they get money later in life, and some remain this coping through wasteful spending till the end of their lives. It is actually one of the ways people become hoarders.

If someone has poor habits and also a bad mindset , they might not know how to manage their money and their emotions and they might not even know where to put their money and to live off of the stream of it, rather than spending down the principle.

So for example in traditional investments, if you have $2 million and if you can put it somewhere that you are on average able to earn at least 4% per year, then you would be able to withdraw 4% per year without depleting the principle.. So that would be an income of $6,666 per month or $80k per year.

If you put that $2 million into bitcoin right now, then that would get you right around 17.8 BTC, which I personally believe that you could withdraw $94k per year in a sustainable and perpetual way, since bitcoin is a better investment than most places that you could put your money.

Woah, I was not aware of that strategy or website. Very interesting stuff. In this case the principle is also valued in USD then since you will be slowly spending the BTC amount but the expectation is that the USD value will remain. Did I get this right?

Therefore, I believe delaying investing in Bitcoin until we have discretionary funds is a bad idea. Time is ticking and can't be undone. Rather than training our mentality first, it's better to just start investing. I emphasize again that this mentality will naturally develop once we start investing, and a naturally formed mentality is better. Because, the real test lies in real-world situations.

your going to mislead newbies with this your statement above, because bitcoin investment is suppose to be done within your Discretionary income and not outside your Discretionary income, if you invest in bitcoin with money meant for settling your basic needs and your expenses, buddy you will end up selling off your bitcoin investment at early stage of accumulation and in lost in other to attend to basic needs and your expenses, so you have to figure out if you have discretionary income first if you can get started with bitcoin, because from your discretionary income you will invest in bitcoin and also from your discretionary income you will build up your emergency fund and backup fund to avoid dipping hand into your bitcoin investment to settle emergencies when they arises, sine there be emergency fund and backup fund to handle those emergencies.

Sounds good, except that it is not that simple either. Excluding poor people, pretty much everyone has room to create discretionary income. Deduct drinking, smoking, drugs, gambling. How much money is being wasted there? How many subscriptions does the average person have? Just alone Netflix says more than 300m subscribers. How many people have the new iPhone? How many of those need it? Less than 0.01%. There is room to create discretionary income if you want to. A lot of the things that people consider as basic needs are not basic, they are just bad financial management and spending habits.

We are talking about bitcoin in this thread - not shitcoins.  

It is confusing and misleading to suggest that investing into shitcoins is the same or even similar to investing into bitcoin, even if you mght be striving to ONLY focus on the top 10 to 20 shitcoins (in terms of their supposed market cap).

Some posters here are ridiculous. Pretty much all altcoins are centralized shitcoins with a few exceptions. To compare investing between the two is ridiculous, something like comparing investing in Gold and investing in air. I know you don't like gold but let me have my comparisons.  

[Shineup]

Therefore, I believe delaying investing in Bitcoin until we have discretionary funds is a bad idea. Time is ticking and can't be undone.

Don't you think you are getting it wrong here? That we should invest in bitcoin even when we have not figured out if we have a discretionary income to invest so i believe it's still ok to wait if there is no discretionary income to get started with.
The reason you should invest with your discretionary income is that things might not go as have plan it might go dip so if you invest with discretionary and such thing happens to occur you won't get your self up set because you invested with what you are afford to loss .

I believe this is two dimensional stuff in the sense that if one can be able to start investing in Bitcoin without discretionary for a start and can be able to handle any situation that will come then i think it is fine but if you can not then it will be a terrible and a remarkable mistake for that investor and in this case it will be better not investing at all. it is very much advisable to always use our discretionary Income to invest so that you know and you will be aware you are not touching money meant for other things and there is no point hasitating about this Investment.

Very simple, investing with a non discretionary fund in Bitcoin should be tagged as gambling than investing, investment in Bitcoin is for long term and investing a non discretionary fund will lead to financial mistake and wrong investment approach, my question is that can it be possible for anyone to invest a non discretionary fund and still be able to handle any other situation that will come after? I guess maybe they will source for other means of getting funds to handle such situations, it can only be fine if they can handle such situations without hoping to pay back from their Bitcoin investment when they are supposed to be building their Bitcoin investment, it is risky to attempt buying Bitcoin with a non discretionary fund because you can end up suffocating meeting with up with your essential needs or end up selling your Bitcoin too soon.

[Ivystar5]

it is risky to attempt buying Bitcoin with a non discretionary fund because you can end up suffocating meeting with up with your essential needs or end up selling your Bitcoin too soon.

Buying bitcoin with anymore that is outside your discretionary income is probably buying with an amount supposed for your expenses or supposed for your emergency funds and as such it is very reasonable not to use such money because you will end up attempting to use it or spend the bitcoin at a very premature state and hence it's more like trading and not an investment.

[coinlary]

Therefore, I believe delaying investing in Bitcoin until we have discretionary funds is a bad idea. Time is ticking and can't be undone.

Don't you think you are getting it wrong here? That we should invest in bitcoin even when we have not figured out if we have a discretionary income to invest so i believe it's still ok to wait if there is no discretionary income to get started with.
The reason you should invest with your discretionary income is that things might not go as have plan it might go dip so if you invest with discretionary and such thing happens to occur you won't get your self up set because you invested with what you are afford to loss .

I believe this is two dimensional stuff in the sense that if one can be able to start investing in Bitcoin without discretionary for a start and can be able to handle any situation that will come then i think it is fine but if you can not then it will be a terrible and a remarkable mistake for that investor and in this case it will be better not investing at all. [Edited out]

How can you tell   when its going to be a future occurence , there's literally now way to tell if they can handle what might come in the future but it's  better to prepare for it.

 it's  just much more better to stick with a solid plan that will sustain you instead of investing  everything  without  backups to sustain you.. Along the run, an investor without plan is most likely to sell some portion to gain balance and this could even lead to more loss as emergency might actually show up in a bear market , for cing for possible withdrawal.  But with a perfect plan you have you backup and you have your SATs no matter how small the stack progres s might be . With time, more inflow will come into your BTC accumulation  once there's  enough  backup that can sustain.

[centrum]

it is risky to attempt buying Bitcoin with a non discretionary fund because you can end up suffocating meeting with up with your essential needs or end up selling your Bitcoin too soon.

Buying bitcoin with anymore that is outside your discretionary income is probably buying with an amount supposed for your expenses or supposed for your emergency funds and as such it is very reasonable not to use such money because you will end up attempting to use it or spend the bitcoin at a very premature state and hence it's more like trading and not an investment.

which extra money are you talking about? people usually save a portion of their salary for the future since not everyone can save a large amount at once. after covering monthly expenses, the extra money that remains is what they save. if they invest that money using the dca method, they do not need to invest a big amount at once they can invest small amounts easily. instead of keeping that money in a bank, if they invest it in bitcoin, by the end of the year they will have accumulated bitcoin gradually. this method is good for everyone. if you reach old age without any savings, your whole life’s effort goes to waste. so, invest money that you won't  need to use in the future.

[bitcoin_mining]

Therefore, I believe delaying investing in Bitcoin until we have discretionary funds is a bad idea. Time is ticking and can't be undone.

Don't you think you are getting it wrong here? That we should invest in bitcoin even when we have not figured out if we have a discretionary income to invest so i believe it's still ok to wait if there is no discretionary income to get started with.
The reason you should invest with your discretionary income is that things might not go as have plan it might go dip so if you invest with discretionary and such thing happens to occur you won't get your self up set because you invested with what you are afford to loss .

I do not agree with the stance that one should invest quickly, as time is ticking. If anyone has such a mindset, then he will surely incur losses, or even if he does not sell at a loss, his portfolio will be in unrealized losses. One should invest after due diligence and also in parts. People usually invest all in bitcoin (or any other altcoins) at once, thinking that it will only go up from here.

Investors need to understand the market but unfortunately, most people come into cryptocurrencies thinking that they will become rich overnight. That's the reason most people lose money in crypto, and very few are able to make a profit from it.

I have seen many investors who have been planning to invest in Bitcoin for a long time but have not been able to invest in Bitcoin until now because they have not yet found the right time to invest, so what do you say to all these planners about investing in Bitcoin? There are some things that never work if you think too much about them. Investing in Bitcoin is undoubtedly a good thing and if you can invest here consistently, then there is a possibility of getting a good amount of profit from it in the future. Knowing this, if an investor is only waiting for an opportunity and even after years, they cannot invest in Bitcoin, then I think they will not be able to invest in Bitcoin even if the price of Bitcoin reaches its lowest level. As an investor, you must take some risk of money. If an investor cannot take this minimum risk, then investment is not really for him.

[JayJuanGee]

If someone has poor habits and also a bad mindset , they might not know how to manage their money and their emotions and they might not even know where to put their money and to live off of the stream of it, rather than spending down the principle.

So for example in traditional investments, if you have $2 million and if you can put it somewhere that you are on average able to earn at least 4% per year, then you would be able to withdraw 4% per year without depleting the principle.. So that would be an income of $6,666 per month or $80k per year.

If you put that $2 million into bitcoin right now, then that would get you right around 17.8 BTC, which I personally believe that you could withdraw $94k per year in a sustainable and perpetual way, since bitcoin is a better investment than most places that you could put your money.

Woah, I was not aware of that strategy or website. Very interesting stuff. In this case the principle is also valued in USD then since you will be slowly spending the BTC amount but the expectation is that the USD value will remain. Did I get this right?

This is referring to time-based sustainable withdrawal, and I probably have not been consistently clear about how to make such calculations, and it was ONLY recently that I had bitmover change the tool on the website so that it has a spot price dollar based calculation and a 200-WMA based calculation (there is a tab on the website to make the selection), and it seems to me that if a dollar based withdrawal rate is based on the dollar value of the 200-WMA, then the 200-WMA tends to signal BTC bottom prices and also it has tended to always go up, so it is a much more stable way of valuating our BTC holdings and determining how much BTC that we are able to sustainably withdraw based on such 200-WMA dollar value.

Even in the period between mid 2022 and late 2023, the BTC price was at it's worst rate and spent around 16 months at or below the 200-WMA, yet the 200-WMA largely kept going up at a rate of 19.13% per year, and you can see the numbers through the chart or you can look at my latest fuck you status chart that shows the rate that the 200-WMA went up at its lowest rate ever for three different 6 month periods between late 2022 and late 2023 as 9.2%, 9.17% and 10.32% respectively, which calculates out to 19.13% annualized during that period.

We are talking about bitcoin in this thread - not shitcoins.  

It is confusing and misleading to suggest that investing into shitcoins is the same or even similar to investing into bitcoin, even if you mght be striving to ONLY focus on the top 10 to 20 shitcoins (in terms of their supposed market cap).

Some posters here are ridiculous. Pretty much all altcoins are centralized shitcoins with a few exceptions. To compare investing between the two is ridiculous, something like comparing investing in Gold and investing in air. I know you don't like gold but let me have my comparisons.  

Sometimes I won't even mind having some discussion of shitcoins as long as there is some clarity which one (or which ones) are being discussed, so using the category crypto will sometimes make it unclear about what is even being discussed, and if someone were to invest in crypto they need to figure out what they are going to invest into.

Many of us will also get bothered by people thinking that they are investing into bitcoin, but they are investing into ETFs or they are holding their bitcoin on exchanges, and sure for all intents and purposes, we might be able to concede that even derivative products will still give price exposure, so third parties holding the BTC is ONLY going to negatively impact when there is some kind of bankruptcy or rug pull event.. and we saw quite a few of those in 2022 with FTX and some of the other culprits that ended up going under during that time, starting out with Tera luna that likely did not have as many bitcoin as they claimed to have had, but they were defending a supposed algorithmically stable coin that was supposedly backed by supposed real bitcoin.

[SilverCryptoBullet]

I have seen many investors who have been planning to invest in Bitcoin for a long time but have not been able to invest in Bitcoin until now because they have not yet found the right time to invest, so what do you say to all these planners about investing in Bitcoin?

Those people in my opinion did not plan for investment in Bitcoin as if they want to invest in Bitcoin, they would have spent money for investment at any time especially when the market is hot and FOMO is around the market. I believe they just did not believe enough in Bitcoin future and they only fluctuated with invest or not, in other words they hesitated to start their investment and as mentioning it is mainly because of their lack of belief - that possibly comes from lack of enough research and knowledge about Bitcoin and its market.

If they simply look at this chart, they will no longer hesitate for investment debut.
https://charts.bitbo.io/yearly-candles/

If they feel interested in and want more details, there are tables with more details on Bitcoin ROIs.
https://cryptorank.io/price/bitcoin/analytics

[Moreno233]

Many of us will also get bothered by people thinking that they are investing into bitcoin, but they are investing into ETFs or they are holding their bitcoin on exchanges, and sure for all intents and purposes, we might be able to concede that even derivative products will still give price exposure, so third parties holding the BTC is ONLY going to negatively impact when there is some kind of bankruptcy or rug pull event.. and we saw quite a few of those in 2022 with FTX and some of the other culprits that ended up going under during that time, starting out with Tera luna that likely did not have as many bitcoin as they claimed to have had, but they were defending a supposed algorithmically stable coin that was supposedly backed by supposed real bitcoin.

My experience investing in shitcoins is a bad one, so I will rather stay with Bitcoin and not allow greed make me repeat the same mistake. I was unfortunate to be those who lost money from Tera Lun, an experience I consider one of my greatest nightmares of my life because I watched my money dropped to zero within few hours. Those who have not had such experience will never understand why some of us decided to pitch tent with Bitcoin and Bitcoin a lone. Even if I want to look at anything else, it will be with fear and doubts but my confidence and greater part of my resources will remain with Bitcoin.

[Samlucky O]

Many of us will also get bothered by people thinking that they are investing into bitcoin, but they are investing into ETFs or they are holding their bitcoin on exchanges, and sure for all intents and purposes, we might be able to concede that even derivative products will still give price exposure, so third parties holding the BTC is ONLY going to negatively impact when there is some kind of bankruptcy or rug pull event.. and we saw quite a few of those in 2022 with FTX and some of the other culprits that ended up going under during that time, starting out with Tera luna that likely did not have as many bitcoin as they claimed to have had, but they were defending a supposed algorithmically stable coin that was supposedly backed by supposed real bitcoin.

My experience investing in shitcoins is a bad one, so I will rather stay with Bitcoin and not allow greed make me repeat the same mistake. I was unfortunate to be those who lost money from Tera Lun, an experience I consider one of my greatest nightmares of my life because I watched my money dropped to zero within few hours. Those who have not had such experience will never understand why some of us decided to pitch tent with Bitcoin and Bitcoin a lone. Even if I want to look at anything else, it will be with fear and doubts but my confidence and greater part of my resources will remain with Bitcoin.

I shear thesame experience with you too, at first shitcoins look so real to be true to me, infact I thought i will become rich someday from it. I thought it will be the new Bitcoin hoping that one day It will be the subsidiaries of Bitcoin. but not knowing that shitcoins as it name implies will forever be shit.. after so many months of buying different of it and hoping one will pump so high, I desicoverd that instead of it to grow it kept decreasing till it all disappeard in my wallet i.e rug pull. I wanted to invest in Luna back then before it fell but I thought I escaped it not knowing that the one I was accumulating is even the worst nightmare. Sometimes when I remember the amount of Bitcoin I would have accumulated with those money I used for shitcoin back then, I keep regretting. But however I am glad I came into realization that Bitcoin is the altimate, and non can be compeard to it in this ecosystem or space.

[Tonimez]

Many of us will also get bothered by people thinking that they are investing into bitcoin, but they are investing into ETFs or they are holding their bitcoin on exchanges, and sure for all intents and purposes, we might be able to concede that even derivative products will still give price exposure, so third parties holding the BTC is ONLY going to negatively impact when there is some kind of bankruptcy or rug pull event.. and we saw quite a few of those in 2022 with FTX and some of the other culprits that ended up going under during that time, starting out with Tera luna that likely did not have as many bitcoin as they claimed to have had, but they were defending a supposed algorithmically stable coin that was supposedly backed by supposed real bitcoin.

My experience investing in shitcoins is a bad one, so I will rather stay with Bitcoin and not allow greed make me repeat the same mistake. I was unfortunate to be those who lost money from Tera Lun, an experience I consider one of my greatest nightmares of my life because I watched my money dropped to zero within few hours. Those who have not had such experience will never understand why some of us decided to pitch tent with Bitcoin and Bitcoin a lone. Even if I want to look at anything else, it will be with fear and doubts but my confidence and greater part of my resources will remain with Bitcoin.

I shear thesame experience with you too, at first shitcoins look so real to be true to me, infact I thought i will become rich someday from it. I thought it will be the new Bitcoin hoping that one day It will be the subsidiaries of Bitcoin. but not knowing that shitcoins as it name implies will forever be shit.. after so many months of buying different of it and hoping one will pump so high, I desicoverd that instead of it to grow it kept decreasing till it all disappeard in my wallet i.e rug pull. I wanted to invest in Luna back then before it fell but I thought I escaped it not knowing that the one I was accumulating is even the worst nightmare. Sometimes when I remember the amount of Bitcoin I would have accumulated with those money I used for shitcoin back then, I keep regretting. But however I am glad I came into realization that Bitcoin is the altimate, and non can be compeard to it in this ecosystem or space.

Almost everyone has had series of ill experience with the shitcoins out of curiosity or greed but let's not give shitcoins too much recognition here as this thread is strictly for bitcoin discussion. Bitcoin is still closely reliable above 70% as a store of value. You can only boast to have what you are sure of getting whenever you need it. Any energy you channel into any altcoins (all shitcoins) is already as good as wasted energy because it takes only time until your mistakes are shown to your face.

Bitcoin is really struggling these days and I feel the market could experience further corrections before establishing a new ATH. The price has been resistant but declines eventually when we tend to get relaxed again. This period does not need any form of selling because whatever sells made now could appear like a panic sell and may result to a loss soon.

Anyone who has no serious challenges to tackle or whose backup funds and emergency funds can still handle the unforeseen circumstances should forget about dipping his hand in his bitcoin wallet. There are clear signs of further dips and a hope of new ATH later before the year runs out. Hold your bitcoin tightly and buy more if you have a discretionary income.

[Stormisover]

Many of us will also get bothered by people thinking that they are investing into bitcoin, but they are investing into ETFs or they are holding their bitcoin on exchanges, and sure for all intents and purposes, we might be able to concede that even derivative products will still give price exposure, so third parties holding the BTC is ONLY going to negatively impact when there is some kind of bankruptcy or rug pull event.. and we saw quite a few of those in 2022 with FTX and some of the other culprits that ended up going under during that time, starting out with Tera luna that likely did not have as many bitcoin as they claimed to have had, but they were defending a supposed algorithmically stable coin that was supposedly backed by supposed real bitcoin.

My experience investing in shitcoins is a bad one, so I will rather stay with Bitcoin and not allow greed make me repeat the same mistake. I was unfortunate to be those who lost money from Tera Lun, an experience I consider one of my greatest nightmares of my life because I watched my money dropped to zero within few hours. Those who have not had such experience will never understand why some of us decided to pitch tent with Bitcoin and Bitcoin a lone. Even if I want to look at anything else, it will be with fear and doubts but my confidence and greater part of my resources will remain with Bitcoin.

I shear thesame experience with you too, at first shitcoins look so real to be true to me, infact I thought i will become rich someday from it. I thought it will be the new Bitcoin hoping that one day It will be the subsidiaries of Bitcoin. but not knowing that shitcoins as it name implies will forever be shit.. after so many months of buying different of it and hoping one will pump so high, I desicoverd that instead of it to grow it kept decreasing till it all disappeard in my wallet i.e rug pull. I wanted to invest in Luna back then before it fell but I thought I escaped it not knowing that the one I was accumulating is even the worst nightmare. Sometimes when I remember the amount of Bitcoin I would have accumulated with those money I used for shitcoin back then, I keep regretting. But however I am glad I came into realization that Bitcoin is the altimate, and non can be compeard to it in this ecosystem or space.

I guess what do inspired most of you guys are hypes and maybe a successful stories from others and you think you can be as lucky as the other person not knowing that you may not be my greatest pity is for those who prefer learning the hardest way other than learning from the experience of others, personally I am lucky to come in to the spotlight with knowing that Bitcoin is were I can find peace and rest of mind which I will not trade it for something else and I wish such day will not come.

[Nightwatchmare]

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.

Therefore, I believe delaying investing in Bitcoin until we have discretionary funds is a bad idea. Time is ticking and can't be undone. Rather than training our mentality first, it's better to just start investing. I emphasize again that this mentality will naturally develop once we start investing, and a naturally formed mentality is better. Because, the real test lies in real-world situations.

If we want to accumulate Bitcoin, we don't use mentality to accumulate Bitcoin; what we use to accumulate Bitcoin is our discretionary income. It is important to always delay investing in Bitcoin if you don't have a discretionary income because Bitcoin is a long term investment, and you need discretionary income to invest in Bitcoin so that you won't have any difficulty in holding your Bitcoin investment for a long time. But if you use because of time is ticking and ignore using discretionary income to invest in Bitcoin, that means you are investing in Bitcoin with the money meant for your expenses and that is FOMO, and you won't be able to hold your Bitcoin for a long time.

[Kagaru]

Many of us will also get bothered by people thinking that they are investing into bitcoin, but they are investing into ETFs or they are holding their bitcoin on exchanges, and sure for all intents and purposes, we might be able to concede that even derivative products will still give price exposure, so third parties holding the BTC is ONLY going to negatively impact when there is some kind of bankruptcy or rug pull event.. and we saw quite a few of those in 2022 with FTX and some of the other culprits that ended up going under during that time, starting out with Tera luna that likely did not have as many bitcoin as they claimed to have had, but they were defending a supposed algorithmically stable coin that was supposedly backed by supposed real bitcoin.

My experience investing in shitcoins is a bad one, so I will rather stay with Bitcoin and not allow greed make me repeat the same mistake. I was unfortunate to be those who lost money from Tera Lun, an experience I consider one of my greatest nightmares of my life because I watched my money dropped to zero within few hours. Those who have not had such experience will never understand why some of us decided to pitch tent with Bitcoin and Bitcoin a lone. Even if I want to look at anything else, it will be with fear and doubts but my confidence and greater part of my resources will remain with Bitcoin.

I shear thesame experience with you too, at first shitcoins look so real to be true to me, infact I thought i will become rich someday from it. I thought it will be the new Bitcoin hoping that one day It will be the subsidiaries of Bitcoin. but not knowing that shitcoins as it name implies will forever be shit.. after so many months of buying different of it and hoping one will pump so high, I desicoverd that instead of it to grow it kept decreasing till it all disappeard in my wallet i.e rug pull. I wanted to invest in Luna back then before it fell but I thought I escaped it not knowing that the one I was accumulating is even the worst nightmare. Sometimes when I remember the amount of Bitcoin I would have accumulated with those money I used for shitcoin back then, I keep regretting. But however I am glad I came into realization that Bitcoin is the altimate, and non can be compeard to it in this ecosystem or space.

Indeed  while it may seem convenient to gain exposure to BTC through derivatives or ETFs  there are certain risks associated with it  especially if you don t trust the financial health of the institution or exchange. As you mentioned  the collapse of FTX and the crash of Tera Luna in 2022 showed us that putting your assets on a centralized platform can directly put your assets at risk. In the case of Tera Luna  the reliance on algorithmically stabilized currency and the lack of adequate back up led to users  assets being destroyed in a matter of hours. Such incidents are a huge lesson for ordinary investors.
The experience of shitcoins and other high risk altcoins is also relevant here. It may seem that they can initially offer big returns  but the reality is that the value of most shitcoin projects is generally speculative and highly volatile. As you said  some coins increase in value due to initial hype  but the long term sustainable growth is low. In such situations  ordinary investors suffer losses and many feel that they themselves have been victims of a kind of rug pull or pump and dump scheme.

Your experience is an important lesson for new investors: the temptation of speculative projects can be great  but for long term stability  it is crucial to focus on core  trusted assets. By holding BTC  volatility can be managed  and the chance of falling to zero is reduced.
One thing to note is that this is not only financially; it also gives peace of mind from a psychological perspective. If someone constantly leans on short term high risk coins  it increases mental stress and anxiety. An established asset like Bitcoin provides long term confidence and risk mitigation.

[ruykeri]

Very simple, investing with a non discretionary fund in Bitcoin should be tagged as gambling than investing, investment in Bitcoin is for long term and investing a non discretionary fund will lead to financial mistake and wrong investment approach, my question is that can it be possible for anyone to invest a non discretionary fund and still be able to handle any other situation that will come after? I guess maybe they will source for other means of getting funds to handle such situations, it can only be fine if they can handle such situations without hoping to pay back from their Bitcoin investment when they are supposed to be building their Bitcoin investment, it is risky to attempt buying Bitcoin with a non discretionary fund because you can end up suffocating meeting with up with your essential needs or end up selling your Bitcoin too soon.

It is not right for someone to invest in Bitcoin without discretionary income. To be successful in investing in Bitcoin, you have to continue investing for a long time. This is possible only if you have discretionary income. It is not enough to have discretionary income, but you also have to form an emergency fund and a reserve fund to continue investing for a long time.

And if someone does not have discretionary income. If he saves money from his necessary expenses and invests regularly on a weekly or monthly basis, then if he needs a lot of money for any urgent need in the future, he will be forced to sell Bitcoin to raise that money. And since the price of Bitcoin fluctuates greatly in a short period of time. When he needs money for an urgent need, if the price of Bitcoin has fallen significantly, he will face a loss. Therefore, investing with non-discretionary income is difficult to sustain for a long time because people experience various financial problems from time to time in their lives.