Buy the DIP, and HODL!

[Lida93]

Sometime it become a hard to stick to one rules and strategies for accumulating and holding Bitcoin for the long term, considering market valotility.   At times price may dip  hard immediately one complete the purchase of Bitcoin  this most time triggers emotions that some investor  that are not patience and confident enough tend to sell off their Bitcoin holding.
But with use of dollar coas averaging (DCA) it help to solve some of the problem if not all investor face because it reduces the impact of volatility. One can buy Bitcoin consistently  by buying smaller amount over time which helps smooth out price per Bitcoin. DCA also enforce discipline and emotional bias.

The advantage of DCA is not spreading out the buys over time, since there might not necessarily be any advantages in regards to delaying bitcoin purchases.

DCA allows folks to set their buy amounts and buy bitcoin as soon as the money comes available... so regular DCAing does not not have a deferring of buying element, since people are merely buying whenever they get money. 

There can be situations in which a person might choose to purposefully spread out the BTC purchases, so even though a guy who is regularly buying $100 per week, maybe he suddenly receives an extra $1k, and so maybe he decides to buy bitcoin over the next 4 weeks at $250 per week rather than using all of the $1k to buy at once.  There is no real right or wrong answer, so guys might choose differently in regards to whether to defer their purchases of BTC based on their own personal circumstances.

Truly, the DCA is very flexible a strategy to implement that you don't necessarily have to rigidly spread your buys  but buying interval-ly at the availability of funds. Uncertainty could happen that could delay normal timing of receiving your funds (income) and that could delay your buying time but the DCA strategy doesn't make it that rigid that the investor must have to buy at a particular timing, it's just about staying consistent with when you get your funds. And the flexibility extend down to the amounts you can afford to buy at each interval without having to tear your pocket thereby making bitcoin investment looking burdensome, overwhelming and tiring on your finance.

[Joeboy]

One point I think has not really been addressed in this discussion is the role of psychological preparation before someone even starts buying Bitcoin. Many people talk about strategies like DCA, holding long term, avoiding trading, building cash reserves but the hard truth is that most people don’t fail because of strategy, they fail because they were never mentally prepared for Bitcoin’s volatility. It is easy to say “buy the dip and hold,” but when someone buys Bitcoin and it suddenly drops 20–40% within a short time, that is when the real test begins. At that moment, logic disappears and emotions take over. Fear starts whispering that the price may keep falling, and the temptation to sell becomes very strong. That is why many people end up selling at a loss, even though they originally planned to hold.

You can't psychological prepare you mind for volatility by delaying your investment... The only true way to better understand volatility is by getting started and experiencing the volatility... Like I would always say, you folks are at liberty to do whatever you deem fit for your investment, but I don't think it is appropriate to be encouraging others to delay their investments until they are mentally prepared... The right approach will be for folks to start small with small amount of their discretionary income and gradually they will get to learn how volatility works and maybe in time they can increase based on their level of conviction...

Another thing that is rarely mentioned is that many investors secretly expect quick validation after buying Bitcoin. Even if they say they are investing for 10 years, deep down they still hope the price will rise soon after they buy. When the opposite happens and the price dips hard, their confidence in their own decision starts to shake. This is why buying Bitcoin without fully understanding its cycles can be dangerous. Bitcoin has a history of large corrections even during long-term bull markets. Someone who is not prepared for that will constantly feel pressured to sell during dips and buy again when the price is higher. So beyond income level, DCA strategy, or investment timelines, there is another important factor which is expectation management.

Again you have to understand that you can't really understand Bitcoin by excluding yourself... You need to be involved in it to learn about it.. Sure they may be case where the drop in price may shake the level of confidence that folks tend to have in Bitcoin.. If such is the situation, folks could very well make adjustment by reducing their investments amounts to the amount they feel very comfortable with that why we have the strategy called DCA.....

[MissNonFall9]

Having income is good, but to wait for a stable income before starting your investment is a wrong investment idea and such waiting might keep you away from beginning your investment. You can actually begin small if you have a discretionary income. Building a strong emergency fund or back up funds that helps as back up for your investment isn't a one day thing and will take some time, meaning that waiting to get that built before starting your investment means you are not starting anytime soon, and that isn't good at all, because you may never start, and time never waits for you.

What is majorly needed to begin your investment is your discretionary income. Your ability to figure out your discretionary income makes you fit and ready to begin your investment, and not firstly to build emergency funds or have a stable income etc. once your discretionary income have been discovered, then you can begin small, using the DCA strategy of accumulating Bitcoin and gradually you can scale up your investments as time goes on while also building confidence in yourself and your investment, and also building up your emergency funds plus other back up funds needed alongside for a safe investment career

Many people wait for the right time to start a work but in reality the right time will never come to a person. So when should a person start his work? He will start right when he feels the need. He does not have to take big steps right then. All he needs is one step and consistently. Maybe he will not be able to feel the change within himself in one day. But as time goes on, he will gradually start feeling his change and the people around him will also understand his change.

So if you want to change your life, you should take out a discretionary income from your income now and invest it through small steps. And when your discretionary income starts increasing, then you should increase your investment. Along with this, an investor should form an emergency fund that protects his investment in case of emergency.

[Sarah_Jannat42]

Actually, you're not that new to this forum, as you joined in September 2023, meaning you've been here for over two years. Regarding emergency funds, I believe they are essential for every investor who wants to continue investing in Bitcoin. They ensure their investments remain stable and unaffected by life's challenges, which can sometimes arise unexpectedly. Furthermore, every investor must be able to ensure a regular income level so that they can face any difficulties in life without undue obstacles. Therefore, every investor who wants to manage their own investments should consider not only their emergency fund but also how to maintain a regular income to strengthen their capital in the long term.

Actually I opened my bitcointalk account two yerars erlier than today but I have been absent for a long time and that is why I said that I am new to this forum. I could not present my words in a right way, that is why so many questions came against my words. I wanted to say that an emergency fund will help us to invest in Bitcoin smoothly. We have to manage discretionary income to invest for a long time. And thanks for your polite reply.

[Grease5000]

One point I think has not really been addressed in this discussion is the role of psychological preparation before someone even starts buying Bitcoin. Many people talk about strategies like DCA, holding long term, avoiding trading, building cash reserves but the hard truth is that most people don’t fail because of strategy, they fail because they were never mentally prepared for Bitcoin’s volatility. It is easy to say “buy the dip and hold,” but when someone buys Bitcoin and it suddenly drops 20–40% within a short time, that is when the real test begins. At that moment, logic disappears and emotions take over. Fear starts whispering that the price may keep falling, and the temptation to sell becomes very strong. That is why many people end up selling at a loss, even though they originally planned to hold.

You can't psychological prepare you mind for volatility by delaying your investment... The only true way to better understand volatility is by getting started and experiencing the volatility... Like I would always say, you folks are at liberty to do whatever you deem fit for your investment, but I don't think it is appropriate to be encouraging others to delay their investments until they are mentally prepared... The right approach will be for folks to start small with small amount of their discretionary income and gradually they will get to learn how volatility works and maybe in time they can increase based on their level of conviction...

Another thing that is rarely mentioned is that many investors secretly expect quick validation after buying Bitcoin. Even if they say they are investing for 10 years, deep down they still hope the price will rise soon after they buy. When the opposite happens and the price dips hard, their confidence in their own decision starts to shake. This is why buying Bitcoin without fully understanding its cycles can be dangerous. Bitcoin has a history of large corrections even during long-term bull markets. Someone who is not prepared for that will constantly feel pressured to sell during dips and buy again when the price is higher. So beyond income level, DCA strategy, or investment timelines, there is another important factor which is expectation management.

Again you have to understand that you can't really understand Bitcoin by excluding yourself... You need to be involved in it to learn about it.. Sure they may be case where the drop in price may shake the level of confidence that folks tend to have in Bitcoin.. If such is the situation, folks could very well make adjustment by reducing their investments amounts to the amount they feel very comfortable with that why we have the strategy called DCA.....

You just Stated the fact, but in real sense no body will be comfortable seeing his investments go down and this is the reason before you start buying  bitcoin you should have a discretionary income that  you don't have any urgent use for it for at least 4 years, an emergency fund,a job and any other steady source of income. When an investor  have all this in line he become more confident  in his pursuit of buying and accumulation of Bitcoin with the discretionary income being set aside. This help reduce the fear of lose  and the urge to sell off his Bitcoin holding during a major price dip.

[ChocolateBitcoinK]

It may be the case that poor people presume that rich people got rich by trading rather than the more likely practice of investing into good assets, such as bitcoin, and allowing the passage of time and the ongoing building of the asset to work in their favor.

The rich dudes have already understood the importance of process overtime which must be adhered on to with consistent building to be able to create the wealth desired. Every good assets, wealth is created from the investment into it through time and not an instant wealth making. Any thing of an instant wealth is a broad way to losses. Just like trading, you're with a higers chance of losing your funds trading than you would make any profit how much more making huge returns as you would investing and building your bitcoin for the long term.

There is a saying that wealth grows over time, that is, if you invest in good assets and are given time, then the wealth gradually grows which is called Compound growth. So long term investment in Bitcoin (4-8 years) can be a common path to get rich which is open to everyone. However, trading is risky because the market is very volatile and there is a high chance of losing money if you make wrong decisions due to emotions. Trading is more risky especially for beginners. So long term investment is comparatively safer than trading and through this, big risks can be avoided.

Of course, investing is much safer than trading, and even the possibility of long-term profits will be higher in investing than trading. Those who decide to hold on for the long term have chosen the right path for the future. Trading is a very important subject, here people very often have to face unexpected losses, and if we make mistakes in research and strategy, we have to face losses, and we have to do market research all the time, in short, there is a lot of trouble and risk here. But there is nothing like that in the case of Bitcoin, here we just have to continue investing normally, there is no problem with that, we have to invest consistently and hold it for the long term, in this way we can get a lot of good from it, which can be much more than trading even if we calculate it in the long term.

[Merit.s]

Many people talk about strategies like DCA, holding long term, avoiding trading, building cash reserves but the hard truth is that most people don’t fail because of strategy, they fail because they were never mentally prepared for Bitcoin’s volatility. It is easy to say “buy the dip and hold,” but when someone buys Bitcoin and it suddenly drops 20–40% within a short time, that is when the real test begins. At that moment, logic disappears and emotions take over. Fear starts whispering that the price may keep falling, and the temptation to sell becomes very strong. That is why many people end up selling at a loss, even though they originally planned to hold.

This is why a brand new investor should learn the basic knowledge of bitcoin which the volatile nature of bitcoin is part of it and that bitcoin is a long-term investment and for that reason, you should invest with the amount of money that you can afford to lose. When you turn deaf ears to this information that's when you will invest in the wrong way with the wrong mindset that will lead to you panicking and sell when there's a dip.

It's a norm for a new investor to have those emotional feelings and thoughts about bitcoin when they witness a drastic dip at first but not to the point that they will panic and sell out of fear because they have the knowledge. It's also important that as you are investing in bitcoin, you continue learning more about bitcoin to gain more experience by buying and reading in order to increase your confidence in bitcoin that will avoid you from doubting bitcoin potentials.

Many people have gotten rich from trading, but the risks are indeed very high, and quite a few have lost money, especially in futures trading So, I think everything is good,

This information is wrong because it's the opposite and stop hyping trading. Traders are gamblers and they run at big losses in the long run. Long-term bitcoin investment is building your financial strength for the future. Trading is like gambling with your future.

[Humblevirus]

Having income is good, but to wait for a stable income before starting your investment is a wrong investment idea and such waiting might keep you away from beginning your investment. You can actually begin small if you have a discretionary income. Building a strong emergency fund or back up funds that helps as back up for your investment isn't a one day thing and will take some time, meaning that waiting to get that built before starting your investment means you are not starting anytime soon, and that isn't good at all, because you may never start, and time never waits for you.

What is majorly needed to begin your investment is your discretionary income. Your ability to figure out your discretionary income makes you fit and ready to begin your investment, and not firstly to build emergency funds or have a stable income etc. once your discretionary income have been discovered, then you can begin small, using the DCA strategy of accumulating Bitcoin and gradually you can scale up your investments as time goes on while also building confidence in yourself and your investment, and also building up your emergency funds plus other back up funds needed alongside for a safe investment career

The most important thing to consider in Bitcoin investment is discretionary funds, not a stable source of income. Someone can have stable sources of income and it is very possible for them not to always have discretionary funds whenever they receive their salary. Some people salary is very small, to the point that it cannot even feed the family properly. So, this kind of people may not have discretionary funds to invest in Bitcoin.

There are also some people who may not have stable sources of income, but they do have discretionary funds because of the nature of their job. Some examples are contractors. Most contractors do not get paid every month because their payments are not made monthly or weekly. However, they can get one contract that can pay an amount equal to some people's salaries for many years.So, this kind of person does not need to have a job that pays weekly or monthly before they can start investing in Bitcoin. Therefore, a stable source of income is not a guarantee for investment in Bitcoin but discretionary funds are what matter most.

[Zanab247]

It may be the case that poor people presume that rich people got rich by trading rather than the more likely practice of investing into good assets, such as bitcoin, and allowing the passage of time and the ongoing building of the asset to work in their favor.

The rich dudes have already understood the importance of process overtime which must be adhered on to with consistent building to be able to create the wealth desired. Every good assets, wealth is created from the investment into it through time and not an instant wealth making. Any thing of an instant wealth is a broad way to losses. Just like trading, you're with a higers chance of losing your funds trading than you would make any profit how much more making huge returns as you would investing and building your bitcoin for the long term.

There is a saying that wealth grows over time, that is, if you invest in good assets and are given time, then the wealth gradually grows which is called Compound growth. So long term investment in Bitcoin (4-8 years) can be a common path to get rich which is open to everyone. However, trading is risky because the market is very volatile and there is a high chance of losing money if you make wrong decisions due to emotions. Trading is more risky especially for beginners. So long term investment is comparatively safer than trading and through this, big risks can be avoided.

The reason why an average person struggle with accepting that long term investment is the way to go is just because they are used to doing things that only promises immediate reward that does not last long. regardless the sector you are investing into, the variable that makes of a really good investment is that it must remain for a reasonable duration of time and that the quantity must be something that is much such that an increase in the worth of the asset directly leads to the profitability on the side of the person involved.

Lack of money is what makes some people to be struggling for long years hodling, because they are not financially strong to hodl for long years before they can sell to earn what will satisfy them. I used to blame some people who don't like to take risk to use what they can afford to lose in crypto long time hodling, because is the easiest way to make a profit that will satisfy you when you release your crypto in the bull market.

One thing I know about this investment is that it require money and knowledge, because those are  two things that will make you succeed whenever you sell your crypto in the bull market. I know some people will say what about mentor, when you have knowledge of crypto hodling and you have the money to invest your money wisely you will surely going to succeed.

[Lembo69]

I wanted to say that an emergency fund will help us to invest in Bitcoin smoothly.

You have the right idea about emergency fund. To manage an investor's investment properly, an emergency fund should be created. Not only for investment, but also to overcome the unexpected dangers of our life. Emergency fund is the tree you plant, which even if it does not bear fruit all year, will provide shade during times of danger. None of us can predict when an unexpected danger will come in our life. So I think that even if someone does not invest, they should still have an emergency fund.

In our human life, we worry more about the future, and it is natural to worry because many times we face many dangers without wanting to. As a result, we have to take loans, or sell something that we really like.

I understood the importance of emergency fund when I had to sell my hobby bike due to financial weakness after a disaster.

If we can keep an emergency fund along with our investments which is equal to 6 months of our monthly income, then we will have courage in times of danger and we will be able to manage our investments properly without selling them. The role of emergency fund for long-term investment is immense.

[Derekfunds]

One point I think has not really been addressed in this discussion is the role of psychological preparation before someone even starts buying Bitcoin. Many people talk about strategies like DCA, holding long term, avoiding trading, building cash reserves but the hard truth is that most people don’t fail because of strategy, they fail because they were never mentally prepared for Bitcoin’s volatility. It is easy to say “buy the dip and hold,” but when someone buys Bitcoin and it suddenly drops 20–40% within a short time, that is when the real test begins. At that moment, logic disappears and emotions take over. Fear starts whispering that the price may keep falling, and the temptation to sell becomes very strong. That is why many people end up selling at a loss, even though they originally planned to hold.

You can't psychological prepare you mind for volatility by delaying your investment... The only true way to better understand volatility is by getting started and experiencing the volatility... Like I would always say, you folks are at liberty to do whatever you deem fit for your investment, but I don't think it is appropriate to be encouraging others to delay their investments until they are mentally prepared... The right approach will be for folks to start small with small amount of their discretionary income and gradually they will get to learn how volatility works and maybe in time they can increase based on their level of conviction...

Another thing that is rarely mentioned is that many investors secretly expect quick validation after buying Bitcoin. Even if they say they are investing for 10 years, deep down they still hope the price will rise soon after they buy. When the opposite happens and the price dips hard, their confidence in their own decision starts to shake. This is why buying Bitcoin without fully understanding its cycles can be dangerous. Bitcoin has a history of large corrections even during long-term bull markets. Someone who is not prepared for that will constantly feel pressured to sell during dips and buy again when the price is higher. So beyond income level, DCA strategy, or investment timelines, there is another important factor which is expectation management.

Again you have to understand that you can't really understand Bitcoin by excluding yourself... You need to be involved in it to learn about it.. Sure they may be case where the drop in price may shake the level of confidence that folks tend to have in Bitcoin.. If such is the situation, folks could very well make adjustment by reducing their investments amounts to the amount they feel very comfortable with that why we have the strategy called DCA.....

You just Stated the fact, but in real sense no body will be comfortable seeing his investments go down and this is the reason before you start buying  bitcoin you should have a discretionary income that  you don't have any urgent use for it for at least 4 years, an emergency fund,a job and any other steady source of income. When an investor  have all this in line he become more confident  in his pursuit of buying and accumulation of Bitcoin with the discretionary income being set aside. This help reduce the fear of lose  and the urge to sell off his Bitcoin holding during a major price dip.

I agree with you but a real investor don't care if his or her investment in Bitcoin is going down or not especially if the Investment is Bitcoin because they already understand and know how Bitcoin works and surely it will bounce back after dipping. Some investors are always happy when the price is going down so they can front load ther investment so it's not investment like Bitcoin an investor should worry about if they actually use their discretionary income to purchase.

[JayJuanGee]

There can be situations in which a person might choose to purposefully spread out the BTC purchases, so even though a guy who is regularly buying $100 per week, maybe he suddenly receives an extra $1k, and so maybe he decides to buy bitcoin over the next 4 weeks at $250 per week rather than using all of the $1k to buy at once.  There is no real right or wrong answer, so guys might choose differently in regards to whether to defer their purchases of BTC based on their own personal circumstances.

For some investors, $1,000 is a very large amount,

In this case, $1k is equal to 10 weeks of the guys regular DCA... so if the guy is DCAing $100 per week, I would imagine he has an income of around $30k per year, so $1k is merely 1/30th of his annual income.

If the guy is just starting to invest in bitcoin, then $1k might be adding a lot of value to the then size of his bitcoin investment, yet if he had already been investing in bitcoin for a couple of years, then over 2 years he would have had already invested more than $10k into bitcoin, so $1k additional would be merely adding 10% to his already existing BTC holdings.

so in this case, your advice will be useful to investors that instead of investing $1,000 all at once,

I was not giving advice.  I was just describing one possible alternative way that a guy could consider DCA'ing (by deferring) that is different from how he usually had been doing his DCA as his money came in.

they should divide this $1,000 into several parts and invest it over a period of a few weeks. Investing in this way will undoubtedly reduce the investor's pressure a lot.

There is no right way to do it.  The guy has choices about what he is going to do it to bring some kind of balance to his own way of investing into bitcoin.  

In this particular hypothetical, I am already making some assumptions that the guy had already authorized the extra $1k to be allocated into bitcoin, so when the hypothetical guy receives the $1k extra lump sum amount, he still ends up having three choices regarding how to buy with all or part of the amount which is 1) buy right away, 2) DCA and/or 3) buy on dips.  I gave one example way of doing it for DCA, yet he can still consider the trade offs of each of the three methods in terms of the way that he chooses to allocate. .he can error on the side of investing quickly or he can error on the side of dragging it out. It is up to him..

Those with medium financial solvency are usually more interested in buying Bitcoin little by little than buying Bitcoin with such a large amount of money at once, so they can follow this strategy.

In light of the hypothetical $1k is not a large amount. You can adjust the size if you need to, but it is not a lot in light of an example of a guy who is already DCA investing into bitcoin $100 per week.

I think that anyone is going to consider what is a large amount relative to what they are already doing, and perhaps in light of how much they had already invested.

I tend to agree that anyone (whether poor or not), if they get a lump sum amount that adds up to a decent amount of money relative to their regular buy amounts, they are going to have inclinations to spread out their investment amounts, and even if they might choose to put a lot of the amount into bitcoin right away, they might not be as bothered by putting in a lot of value at once as long as they are continuing to guy (in the example the guy was already in the practice of putting $100 per week into bitcoin, and presumptively going to continue to put $100 per week into bitcoin into the future - whether he continued  to put the $100 per week into bitcoin while he was adding the $1k over 4 weeks ($250 per week that might be $350 per week) was also a matter of his discretion regarding how he might want to do it.

I recall when I first got into bitcoin in late 2013, I had authorized myself a certain amount to invest into bitcoin over the next 6 months, and I purposefully divided the total amount by 26, so that I was authorizing myself a certain amount to put into bitcoin for the next 26 weeks at the rate that I had established.  Admittedly I could have had purposefully front loaded the investment, yet I purposefully deferred investing all of it at once which also gave me some relief in terms of when to have the amounts of money for each of the weekly buys available for me to use for my then bitcoin purchases.

My own personal idea is that Lump sums tend to be better if they are made in a way that has abilities to supplement by either ongoing buying or abilities to buy the dip in case that the price goes down after the lump sum purchase, yet at the same time, there is a certain advantage to investing money as we get it rather than deferring it... So sometimes, we can choose our amounts that we want to allocate to each of the categories based on our situation at the time that we deciding how to allocate the lump sum amount and any supplement buying that might accompany the lump sum buying.

I think investors should plan their own money properly with this strategy, whether the investor uses $1,000 to invest at once or divides this $1,000 into several parts is a personal matter for investors, but what investors need to do is to maintain discipline in investment as well as hold the investment for a long time and refrain from selling.

Sure of course bitcoin is a long term investment, and my hypothetical already mentioned that the guy had already been investing $100 per week into bitcoin, and surely, there can be other variations of the hypothetical in which a guy gets $1k, and he had not already started investing in bitcoin.  His initial idea might not be to put the $1k into bitcoin, unless he had already established a practice of regularly investing in bitcoin.  Otherwise, if he does not have such a practice of investing in bitcoin or into anything else, then his initial idea upon receiving the extra $1k may well might be to figure out what he can consume with it.  Sure, he might keep some of it or all of it in dollars until he can figure out what he is going to buy with it, yet unless he already had developed a practice of investing into bitcoin, he is not necessarily going to suddenly come to the conclusion that the $1k should be invested into bitcoin.

Because in its application until now there are still those who do not really understand the concept of discretionary funds, emergency funds and reserve funds making them confused about how they should invest and sometimes make emergency funds the main focus of their investment which is clearly a mistake. So I think it is quite important for everyone (including me) to remind each other that all the funds that we have planned must remain in the main focus before being invested and discretionary funds remain the main funds that we must do to invest and the reserve fund becomes optional .

There have been countless examples of investors giving up on their investments simply because they were wrong in their initial perception of how their funds should be allocated so let's not repeat this mistake so that our investments remain comfortable and without any disruptions just because we are using funds that we should not be using to invest.

I also doubt that such person is in this thread or will be able to see the post from this number of pages however you are not wrong either, it’s just the fact that people this days then to know what exact part of their money should be for investment and what part is meant for every other business or expenses so hence realizing that the term emergency is for emergency situations is clearly self thought or explanatory like I said before.

It is said that a newbie only need to understand the basics to be able to invest in Bitcoin, don't you think that it involves knowing the right funds to allocate to Bitcoin investment? Moreover it's been talked about in this forum almost everyday not only in this thread so if a newbie pay close attention especially in this thread the person would definitely come across where it's discussed about or where Jay corrects someone on the right funds for investment.

I think there should be a special thread for such discussion here just that some newbies don't take their time to understand something before going into it, they just want to jump in and start making money without learning the process or how to manage the risk involved.

There is nothing wrong with newbies jumping into bitcoin without knowing anything beyond being able to calculate that they have discretionary funds and recognizing that they need to exercise common sense in terms of starting out slow in terms of starting to invest with money that they can afford to lose.. and then figuring out that as they are investing in bitcoin, they are likely going to need to continue to learn about bitcoin if they are going to continue to buy bitcoin, such as weekly or on some other periodic basis.

Of course, some newbies come to bitcoin and get started in bitcoin, yet they are not thinking about building up their bitcoin stash, but instead figuring out how they can get involved in bitcoin in such a way that bitcoin starts to generate dollars (or their fiat) for them.. and.. so surely if having discretionary and having common sense might help them to figure out that they should be investing 4-10 years or longer, newbies might not realize that their investment timeline is 4-10 years or longer until they spend some time and energy studying bitcoin as they are making their weekly buys, whether that might be $100, $30, $10 or some other amount that works for their budget and within their discretionary funds.

Admittedly, newbies may well hear about bitcoin and have some skepticism which may well cause them to fail/refuse to get started, so there can be questions regarding how any newbie might overcome their skepticism and to start to spend time, energy and or value on bitcoin.

[Obulis]

It may be the case that poor people presume that rich people got rich by trading rather than the more likely practice of investing into good assets, such as bitcoin, and allowing the passage of time and the ongoing building of the asset to work in their favor.

The rich dudes have already understood the importance of process overtime which must be adhered on to with consistent building to be able to create the wealth desired. Every good assets, wealth is created from the investment into it through time and not an instant wealth making. Any thing of an instant wealth is a broad way to losses. Just like trading, you're with a higers chance of losing your funds trading than you would make any profit how much more making huge returns as you would investing and building your bitcoin for the long term.

Hmmmm instant gain the driving force ordinarily used by scammers and also legally present in trading similitude to gambling has made a lot of people lose their minds and then their resources. I don't really know what actually propagates these mindset knowing fully well that it has favored only but few peoples out of thousands, maybe thinking or believing that they are different.

[B-BossMan]

There is nothing wrong with newbies jumping into bitcoin without knowing anything beyond being able to calculate that they have discretionary funds and recognizing that they need to exercise common sense in terms of starting out slow in terms of starting to invest with money that they can afford to lose.. and then figuring out that as they are investing in bitcoin, they are likely going to need to continue to learn about bitcoin if they are going to continue to buy bitcoin, such as weekly or on some other periodic basis.

I agree with you, there some certain things we need to be thinking of that aren't necessarily needed by newbies before they begin the journey, when it comes to Bitcoin  journey, even if the newbies come into Bitcoin without having a deep knowledge on how things or bitcoin works, it's fine, there wouldn't be cause for alrm, once the a newbie begins the procedures with cares or cautions everything would be okay overtime. The most paramount thing is that, the newbies should cut his/herself according to thier power, in essence, invest what you can afford to lose, and as time goes on they will be learning alots from thier experiences gradually, by using  a very interesting strategies or methods (DCA)to buy small-small so that they can be able to understand the market movements. However as a newbie, never have it in mind to come and make a quick money just like that, because Bitcoin is not like other cryptocurrency, bitcoin is exceptional among them and the long-term investment pays alots over time, it just requires patience and resilience over time. Moreover, at times even if you started something you don't have knowledge about, once you are struggling studying it for a while, you will get to understand things yourself. That's how Bitcoin investment strategies works. By using DCA method.

[abaeze]

It may be the case that poor people presume that rich people got rich by trading rather than the more likely practice of investing into good assets, such as bitcoin, and allowing the passage of time and the ongoing building of the asset to work in their favor.

The rich dudes have already understood the importance of process overtime which must be adhered on to with consistent building to be able to create the wealth desired. Every good assets, wealth is created from the investment into it through time and not an instant wealth making. Any thing of an instant wealth is a broad way to losses. Just like trading, you're with a higers chance of losing your funds trading than you would make any profit how much more making huge returns as you would investing and building your bitcoin for the long term.

Hmmmm instant gain the driving force ordinarily used by scammers and also legally present in trading similitude to gambling has made a lot of people lose their minds and then their resources. I don't really know what actually propagates these mindset knowing fully well that it has favored only but few peoples out of thousands, maybe thinking or believing that they are different.

Poor people think that trading can make them rich quickly, while rich people know that investing over time builds wealth. So it turns out that investment thinking makes people rich and poor. That is, an investor's long-term strategy makes the difference between rich and poor. Long-term investment is actually more effective than trading because it builds wealth over time, and this is a very well-known concept or strategy in Bitcoin investing.

If someone had bought and held Bitcoin 4–8 years ago, they would have made huge profits without trading. It doesn't require rocket science to understand this, but the difference in its price is very easy to understand. That is why many big investors use the holding strategy instead of trading because they know very well that you can't get rich overnight, it requires long-term planning, patience, and proper implementation with discipline.

[Brizi5000]

It may be the case that poor people presume that rich people got rich by trading rather than the more likely practice of investing into good assets, such as bitcoin, and allowing the passage of time and the ongoing building of the asset to work in their favor.

The rich dudes have already understood the importance of process overtime which must be adhered on to with consistent building to be able to create the wealth desired. Every good assets, wealth is created from the investment into it through time and not an instant wealth making. Any thing of an instant wealth is a broad way to losses. Just like trading, you're with a higers chance of losing your funds trading than you would make any profit how much more making huge returns as you would investing and building your bitcoin for the long term.

There is a saying that wealth grows over time, that is, if you invest in good assets and are given time, then the wealth gradually grows which is called Compound growth. So long term investment in Bitcoin (4-8 years) can be a common path to get rich which is open to everyone. However, trading is risky because the market is very volatile and there is a high chance of losing money if you make wrong decisions due to emotions. Trading is more risky especially for beginners. So long term investment is comparatively safer than trading and through this, big risks can be avoided.

The reason why an average person struggle with accepting that long term investment is the way to go is just because they are used to doing things that only promises immediate reward that does not last long. regardless the sector you are investing into, the variable that makes of a really good investment is that it must remain for a reasonable duration of time and that the quantity must be something that is much such that an increase in the worth of the asset directly leads to the profitability on the side of the person involved.

Lack of money is what makes some people to be struggling for long years hodling, because they are not financially strong to hodl for long years before they can sell to earn what will satisfy them. I used to blame some people who don't like to take risk to use what they can afford to lose in crypto long time hodling, because is the easiest way to make a profit that will satisfy you when you release your crypto in the bull market.

One thing I know about this investment is that it require money and knowledge, because those are  two things that will make you succeed whenever you sell your crypto in the bull market. I know some people will say what about mentor, when you have knowledge of crypto hodling and you have the money to invest your money wisely you will surely going to succeed.

this thread only discuss about bitcoin investment and not crypto because there are so many cryptocurrencies in the universe that don't even have values and they are regarded as shitcoins. so when talking of bitcoin you should try to be specific so that you don't categorize bitcoin as part of this shitcoins that are mostly pump and dump without real long term value. be specific with bitcoin so that you don't mislead anyone into investing in any shitcoins.

it is true that money is needed for bitcoin investment but you must not have all the money in the world before you can invest and be successful in bitcoin as all that is needed is just a discretionary income to use and accumulate bitcoin and hold. you talk more of selling than buying, you have forgotten that before you sell you need to have accumulated a reasonable amount of bitcoin to your portfolio and meet your accumulation target and then hold for at least 5-10 years or more as a long term investor. maybe you are just a trader who wants to make quick money in bitcoin of which such mindset is not a good investors mindset and could lead you to so many loses.

[Cossyblack]

Yes, it's true that if we invest long-term in valuable assets like Bitcoin, there's certainly the potential for future wealth. However, if we have only a small amount of btc, I don't think we'll get rich. What makes us rich is having a lot of BTC. If we only buy less than $10, it's likely difficult to become rich unless we hold it for the long term, such as more than 10 years. However, if we consistently invest, for example, $10 per week, per day, or per month, we certainly have the potential to become rich in the future. The more we invest, the quicker we'll become rich

Bitcoin isn't a get rich quick scheme, it doesn't work like ponzi schemes where you could make quicker money for investing certain amount of money, If that is your mindset it means you have invested into the wrong asset. Riches in bitcoin can't be made overnight unless you invested and hold for the long term.  Bitcoin has the capability to make you become rich but it cannot be achieved in the short term. If you haven't reached over accumulation stage yet I think it is early to focus on riches more than accumulating bitcoin. The amount of bitcoin you stacked is what will determine whether you will be rich in the next 10 years.

[Saltysugar99]

Poor people think that trading can make them rich quickly, while rich people know that investing over time builds wealth. So it turns out that investment thinking makes people rich and poor. That is, an investor's long-term strategy makes the difference between rich and poor. Long-term investment is actually more effective than trading because it builds wealth over time, and this is a very well-known concept or strategy in Bitcoin investing.

If someone had bought and held Bitcoin 4–8 years ago, they would have made huge profits without trading. It doesn't require rocket science to understand this, but the difference in its price is very easy to understand. That is why many big investors use the holding strategy instead of trading because they know very well that you can't get rich overnight, it requires long-term planning, patience, and proper implementation with discipline.

Long-term accumulation in Bitcoin is generally more realistic than trading. But the way you divide the poor into trading and the rich into investing is unnecessarily class based and actually misleading. Many people are poor because they have fewer opportunities, less income, and more liabilities. Not everything is fixed with a mindset. On the other hand, many rich people are also interested in trading. So the problem is not poor vs. rich, the problem is emotion and they way they are thinking.

Thinking of trading as a way to get rich quickly is often a gamble. Long-term investing and consistent accumulation are the realistic paths. Especially for beginners. And those who really want to survive should aim to buy regularly for a minimum of 4–10 years. And focus on the capacity plan that is needed for this. This capacity comes from investing from discretionary income, having a backup fund, and following a plan. And those who really want to invest do not invest by comparing the current price with the past price. You should start investing based on the economic situation.

[Fara Chan]

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Hmmmm instant gain the driving force ordinarily used by scammers and also legally present in trading similitude to gambling has made a lot of people lose their minds and then their resources. I don't really know what actually propagates these mindset knowing fully well that it has favored only but few peoples out of thousands, maybe thinking or believing that they are different.

Different?
I don't think there's anything different about the title of a trader. No matter how great they are, they'll still be called traders. Likewise, long-term investors who haven't made any profit from their investments will still be called investors. So, traders are only different from other investors, because fellow traders will still appear the same, both in terms of mindset and in their desires, such as wanting to make quick profits with minimal capital.

I don't really care about any traders because I often separate them from Bitcoin investors who generally like to hold Bitcoin for the long term, so when someone says that there is a trader who has been successful, I just take the information as normal information because it is very rare for a trader to say that he has suffered a big loss if he himself still has the goal of recruiting more new people to want to become traders like him.

[JayJuanGee]

There is nothing wrong with newbies jumping into bitcoin without knowing anything beyond being able to calculate that they have discretionary funds and recognizing that they need to exercise common sense in terms of starting out slow in terms of starting to invest with money that they can afford to lose.. and then figuring out that as they are investing in bitcoin, they are likely going to need to continue to learn about bitcoin if they are going to continue to buy bitcoin, such as weekly or on some other periodic basis.

I agree with you, there some certain things we need to be thinking of that aren't necessarily needed by newbies before they begin the journey, when it comes to Bitcoin  journey, even if the newbies come into Bitcoin without having a deep knowledge on how things or bitcoin works, it's fine, there wouldn't be cause for alrm, once the a newbie begins the procedures with cares or cautions everything would be okay overtime. The most paramount thing is that, the newbies should cut his/herself according to thier power, in essence, invest what you can afford to lose, and as time goes on they will be learning alots from thier experiences gradually, by using  a very interesting strategies or methods (DCA)to buy small-small so that they can be able to understand the market movements. However as a newbie, never have it in mind to come and make a quick money just like that, because Bitcoin is not like other cryptocurrency, bitcoin is exceptional among them and the long-term investment pays alots over time, it just requires patience and resilience over time. Moreover, at times even if you started something you don't have knowledge about, once you are struggling studying it for a while, you will get to understand things yourself. That's how Bitcoin investment strategies works. By using DCA method.

DCA allows a newbie to invest into bitcoin without preoccupying themselves with the BTC price and whether the price is going up, down, or sideways, so they don't need to consider that the first thing they need to  study is the BTC price, but instead, the first thing that they likely should be studying is their own abilities to ongoingly manage their cashflows, to bring in income and to keep their expenses less than their income so that they have left over money that they are able invest into bitcoin manage, so in the end they can determine how much they are going to continue to put into bitcoin each week (or whatever is their investment increments).