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Besides accumulated assets, one financial secret that have brought fortune to some persons I know is to purchase assets that can easily be sold off in distress times when the temptation to dip one's hand into an investment portfolio arises.
Assets like physical properties, diamond, gold investment, precious metals/ornaments. If having such is accompanied with
having a steady DCA crypto portfolio, I don't think anyone would fall into any huge financial trap when there's always a window as these out of the scenerio.
Careful when you suggest that having some kind of a bullshit portfolio that has an amorphous allocation into something called crypto is going to give you very much ability to sleep soundly.
The ONLY one that works for DCA is BTC - because there needs to be fundamental value if you are going to justify DCAing.
On the other hand, if you specify exactly what you are holding that constitutes Crypto, then maybe that would be helpful. I would suggest 80% to 90% of crypto is in bitcoin, and then if you are suggesting some other amorphous crypto that you are going to hold, you better say which one, because there is no such thing as "crypto" even though some funds are set up to try to diversify across various "crypto" assets and some of them might even reallocate based on some kind of a formula, but it is still nonsense unless you specify what the fuck you are talking about when you use the word "crypto"... are you talking about bitcoin, and if you are allocating to anything else, then which ones? And what kinds of allocation levels? hopefully not very much, unless you have some kind of a specific reason and also perhaps some active management that might involved getting out of some of those non-bitcoin cryptos based on some fairly specific reasonings.
Maybe you like the idea of investing into "crypto" because you have that dumb idea in your user name? so you believe it is a valid investment category? as contrasted to its more likely vagueness and confusion creating attributes.
Sir, I have also had this problem of relating specifically Bitcoin to the general word
crypto although I don't about this particular user and what he is trying to say but I feel he would be talking about Bitcoin
For sure, in this here thread it is acceptable to talk about a variety of investments besides bitcoin, so my main beef with the use of the term "crypto" in this particular thread is that it is not specific enough, and there is a need to use such word in appropriate context that is NOT ambiguous - especially the way that Cryptomultiplier had used the term by saying that it is a good idea to "invest in crypto." What does that mean? It is best to either say what you mean at the time that you say it, or at least if we might know the general context of what you might be referring to bitcoin and other kinds of crypto and sometimes it might not matter so much about what those other crypto are, but if we are making suggestions to invest, it is better to specify what it is that you mean.
and it's just that many users don't really get the confusion when they actually use the general word "crypto" to specify to a particular assest
Merely because everyone speaks that way does not mean that it is a good idea to repeat such sloppy language.
Yes, we hear really smart and rich people talking that way too.. and when they do that it likely either means that they do not know hardly shit about bitcoin, or they are purposefully trying to be misleading, or they made an innocent mistake.. however, it is not very likely that they made any kind of innocent mistake and if they are speaking about "crypto" as if they know what the fuck they are talking about, then they better learn at least enough about what they are talking about, including bitcoin in order to know how to use such terms so that they are not being misleading or vague or ambiguous. .which is a very sloppy and frequently disingenuine kind of habit, especially when it comes to this particular topic.
And, yeah, I know people speak sloppily about a lot of topics, but if they do it with bitcoin, there are going to be some of us, including but not limited to yours truly who is going to request, suggest or even demand (depending on context) that they specify what it is that they are talking about. People in the media need to also request that their guests and their cohosts specify what they are talking about if they use the term crypto in a vague context.
and I myself also got corrected by you and since then I have very careful In using the word so as not to show out the intention of me actually holding some of those shitcoins out there when I occasionally use the word crypto instead if Bitcoin.
I am glad that you are learning and attempting to employ a better kind of practice in the way that you talk about bitcoin versus shitcoins versus crypto, and surely sometimes it is o.k. to use the term crypto - especially if you have already defined what you mean by it.. or maybe you are just talking about various shitcoins in a vague way.. and sometimes if you use the term "crypto" and if you are referring to some dynamic that includes bitcoin, then you can say that you are referring generally to the industry that includes bitcoin and a variety of shitcoins and various projects in the space.. and sure sometimes the details might not necessarily be necessary to flesh out...
Let's say, for example, you heard that there had been various kinds of "crypto legislation" that had been discussed and passed, but you might not know the details of what that legislation is, so if you are describing what you mean, including your not knowing very much about it, then it still might be relevant and even helpful in regards to some other conversation that you are having, and it might even serve as a kind of suggestion that you need to learn more about that particular topic, whether you just read some third party sources or maybe you find out from news source or friend that you trust for a kind of overview in order to better formulate your opinion, and surely many people do not have time to duly investigate everything that they hear about before they even form an opinion,
....but each of us should be careful in terms of not communicating as if we know more than we do or to communicate in vague and misleading ways when it comes to something like the recommendation of investment choices.. even if we on our own might already be employing bad and sloppy investment practices... which there are quite a few people who choose their coins or their investments based on very superficial criteria, and sure they can suggest that others do the same as them, but they should try to disclose aspects of their strategy, especially if they are recommending others to do the same.
Everyone is right on there own thoughts, as an investor who puts his/her money on an investment, your mind must be on that investment or the capital it self not the profits, hope you get my point? The capital because is the hard earned money the investor used to invest, not the profits because the investor is not well assured of it, but keeping your mind away from selling your coins is very very important thing to partake, holding your coins makes the profits more bigger for a proper time to sell, it might be tempting to sell your coins if that's the first time for the investor to join the crypto world.
I think we all here need to sit back and relax with BTC and use it everyday until this revolution reaches its highest stage. Talk about capital and how to invest in BTC so that it is optimal. Yes, with DCA. DCA will help you be disciplined when you buy more units, when the price goes down and less when the price goes up. This will make it easier for us to make investment decisions and avoid emotional decisions and one more thing,
never ask for advice/references on the Internet, because we run the risk of being scammed and that's not what we want, right?
So the question here is are we ready to carry out the DCA strategy and be consistent, regardless of rising or falling prices, regardless of economic conditions?
It is a bit strange that you are saying to never ask for investment advice or references on the internet, but you are giving investment advice to DCA into bitcoin.
I think that the point is that each of us have to come to our own conclusions regarding whether to invest, what to invest into and what might be our strategies towards accumulation - including figuring out some targets and goals that we might have within various realistic and reasonable timelines as well as attempting to figure out our own particulars enough in order to be attempting to tailor our approach to ourselves, rather than merely what someone else is saying on the internet that might either be tailored to their own situation or that it might have either biases contained therein or a lot of incomplete (or even withheld) information regarding what's being invested into.
I do agree with your overall idea that there are some badly motivated folks who try to get normies into pump and dump products, so sometimes there could be feelings (and appearances) of actually profiting, until the rug pull comes, and many times the talking points (and even charisma of the person) can be very persuasive, while at the same time it is misleading.. and so in that sense each of us is responsible for our own approach, including being careful in terms of our own potential vulnerabilities and weaknesses to get drawn into inferior products and inferior investment approaches... so of course, I agree with DCA'ing into BTC.. but still normies have to figure out various other details regarding how to do it in a way that works for them, even including ideas about where to source their buys, how to save on fees (if that might be a concern) and how much exposure that they might have to third parties before they withdraw their coins to their own storage - and surely some people might not even take their coins into their own storage because they might not even feel confident or competent enough in order to do that without screwing it up... so it might not be bad to keep some coins with 3rd parties up to a certain point, and not even all third parties are the same. ... and for some people $1k to $10k is a real lot of money, but for other people, they might not consider moving their value off of exchanges (and third parties until it is much higher amounts, because they feel that they are not putting much of their overall BTC investment at risk since they might already have a lot of wealth in other places.. including that they might also hold some BTC privately too.. so they might not get concerned about having large amounts on exchanges that would be life-changing for poorer people).
So no matter what happens in life, we should be ready to accept it because we know that we are the only ones who should provide a solution to it. Just try and try especially when it comes to growing financial assets because it works better than just keeping it in a trunk that doesn't do any good. Then study until we get the right process to grow our finances.
Trying something is always better than sitting around doing nothing, because experience and knowledge are not gained by being idle or by storing money that will not grow at all in a vault. Because we can all see the people who have been successful from various kinds of businesses in this world where they are basically always struggling and moving by implementing different efforts before they become big bosses in their own business. So I agreed to keep trying and working process after process to become more successful.
I agree that acting is better than doing nothing - but I question the extent to which any of us needs to necessarily invest in a business or to create work for ourselves for the mere sake of it.
Of course, when we are younger, we likely need to build a variety of skills, and so there can be a lot of advantages in that whether we put up our own shingle (in our own business) or if we work for other people, and it is not necessarily a bad idea to work for other people because not everyone is capable of running their own business or even getting into partnerships that might end up being bad ideas.
DCA will help you be disciplined when you buy more units, when the price goes down and less when the price goes up. This will make it easier for us to make investment decisions and avoid emotional decisions and one more thing, never ask for advice/references on the Internet, because we run the risk of being scammed and that's not what we want, right?
So the question here is are we ready to carry out the DCA strategy and be consistent, regardless of rising or falling prices, regardless of economic conditions?
Although I can't tell how much money anyone has in reserve to keep on accumulating their Bitcoin, if one is consistent in accumulating Bitcoin, depending on how frequently they buy, maybe daily, weekly, or monthly, I think there is a limit to when the BTC price will fail, and you will just have to drop the DCA strategy first and just buy up enough fraction of Bitcoin with your reserved funds (depending on what you want).
An example of what I mean is that, let's say you have up to $8k and you wish to buy Bitcoin with all that Capital, but you keep accumulating weekly with $200 and you believe that Bitcoin can go down to $25k, but instead of the $25k, it falls to $22k. At that point, instead of still continuing with the DCA, you can just use all (or 90%) your remaining capital to buy up Bitcoin at that price because, as you can't tell, the market can also take a big spike from the low price that it fell to and jump to a high price. Perhaps the market is always volatile.
So, all I'm saying is that there's some low price you will experience, and you might just let go of DCA and buy up at once, because definitely buying at that low price will still earn you a lot of profit if the market begins to experience a bull run.
I like that you give an example, but I question how you might employ the strategy that you are suggesting without fucking things up too much. Maybe you are leaving out some facts too? Because a person who already has bitcoin is way better prepared to be able to wait for a dip as compared with someone who does not have any bitcoin...
And if you are expecting $25k, but the price goes all the way down to $22k, then the BTC price has to go through $25k before it gets to $22k, so why would you have had waited or have much money left when the price passes through $25k, wouldn't you just buy at that point?
In fact, I find it pretty damned problematic to lump sum at those various points and to even figure out a plan that really works, and if you already have $20k in bitcoin, but you have $8k sitting on the side.. while at the same time you have $200 per week coming in.. why would you be holding onto so much cash? and just letting it accumulate when the BTC price may or may not end up going down to $25k or even $22k for that matter? $8k is 40% the size of your BTC stash, and if you have $200 coming in every week that you are not DCA'ing with.. which seems quite dangerous for someone with that little already in BTC to be fucking around waiting for a BTC price dip that may or may not end up happening. And, if you have less than $20k, then the percentage amount of cash is even higher..
Now if you were to have $80k already invested in BTC or even $120k, then it might be more reasonable to wait for those kinds of dips because $8k would be only 10% or 6.67% respectively of your BTC amount, so you might have more luxury in terms of feeling that you are able to wait for those kinds of dips because you already have enough to be prepared for up.
Recently, I had already mentioned (in this thread or another one) that my current cash is ONLY about 2.5% of my total BTC holdings, and I am not fucking around waiting for the BTC price to drop before I buy, but for the most part, I do not DCA anymore... but I have buy orders that go every $500 all the way down to $10k-ish..and in some sense, I don't really expect any of those buy orders to be executed, especially below $22k, and so at some point that cash will likely end up getting spent by me rather than to be used to buy BTC.. but at this time, that cash is there and it is just waiting for the BTC price to drop, and I hope that the BTC price does not drop because I do not really want my BTC buy orders to be filled, but if the BTC price does go down, then those orders end up getting filled.
I think that with any of the scenarios that I outlined of someone who has those kinds of levels of cash, and they are expecting to put it into BTC, then don't be fucking around with waiting for dips that might not happen. Put 1/3 in right away.. let's call it $3k, DCA with the next $3k over the next several months (which would be $230 per week if divided over the next 13 weeks or $115 per week over the next 26 weeks).... plus you said that the person already has $200 per week coming in.. so I question whether to let all of that build up.. maybe invest 1/2 or 1/3 of that each week rather than waiting)..
Now if the amount that is already invested into BTC is $160k or more (which would cause $8k to be 5% of the size), then maybe there could be some rationale to hold off more of the DCA and to set various buy on dip orders, but still I question whether trying to lump sum at $25k or even at $22k would be even close to reasonable, even though having various incremental BTC buy orders down to those amounts and below those amounts does not hurt, and maybe part of the problem that you came into with your hypothetical, Dr.Bitcoin_Strange, is that you had already said that the person wants to invest in bitcoin with their $8k and with their $200 coming in each week... so my assessment is that they better already have a decent amount of BTC before they start to get too aggressive in terms of their waiting for dips that may or may not happen.
Think about it. The
200-week moving average is currently at $27,098, so the odds of even going below the 200-week moving average might not even be that great, maybe greater than 50%, but you should not be treating 50% or even 60% or 70% odds (if we might be that confident) as if they were going to happen when there are still decently high odds that they won't happen and your strategy should be apportioned in accordance with the odds rather than outside of the odds, including for sure accounting for how many BTC that you already have (meaning how prepared you already are for UP).
Since you mentioned privacy no one will share their secret here. Because privacy is yours alone.
You do not need to get into details about your own particular circumstances in order to talk about various ideas. You can use hypotheticals or you can use percentages and you could even say that you are talking about a friend.. or if you say that you are talking about your own situation, you might just make up some numbers.. None of that would be unfair in order to obscure or convolute OpSec considerations. Mistakes also happen, and sometimes net assets or networth might not always go up, and some mistakes are perhaps more detrimental than others, and so sometimes if networth might be going up or down due to practices but there sometimes are market forces going on that make it difficult to either figure out how to preserve and/or build networth when the value of a lot of investments might be going down in real terms.. so sometimes it might appear that some of the investments are going up in value, but if they are measured in dollars, it might be misleading in regards to whether they are going up enough in order to keep up with inflation (and we do not always want to rely upon official inflation numbers in terms of assessing the extent to which some of our investments might or might not be keeping up with inflation).
In the case of house construction, he builds his house according to his ability. If someone has enough money then he will never take a loan to build a house and try to build a house with his own money but the person who has limited money to build a house he cannot complete the construction of a house with the amount of money he has. Can build house with loan. It is better to build a business with that money than to build a luxury house. Because if a system can be properly wired then it is possible to fulfill many other dreams from that business in the future not only the house. So money should be spent according to specific plan without spending money unnecessarily.
People with a lot of money might not give too many shits about whether their house is as good of an investment as a business. Of course, poor people might have to rely upon loans to be able to buy a house because they might not otherwise ever be able to save up enough on their own in order to be able to enjoy the house.
