Buy Buy Buy or Sell Sell Sell?

[Obulis]

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

What is most important to get started with our bitcoin investment should be our discretionary income, but at least you should have little of emergency fund, you can actually be gambling with your bitcoin investment if you get started with out having some little emergency fund and slowly be increasing it while you are buying bitcoin.

An emergency fund will not save a guy from all possibilities, yet if any guy is serious about building his bitcoin holdings, he needs to figure how to protect it so that it is not tapped into at a time that is not of the guys complete choosing.. and it takes years to build bitcoin holdings and it could get tempting to tap into such bitcoin holdings, even if your initial intention was to not tap into them.

Ultimately guys have to figure out how to reach a balance that is comfortable for them, and yeah, if they end up making mistakes and they end up tapping into their bitcoin holdings because they did not have enough back up funds, then they are going to pay the costs for that.. and no one will save them.  It can take a lot of organization to keep enough of a balance in the back up funds especially for guys who might have irregular incomes and irregular expenses, so our organizing and strengthening of our cashflow management and our back ups is one of the things that is somewhat in our control even if we might also make mistakes from time to time, yet we should hope that our mistakes are not so great as to cause us to have to sell bitcoin at a time that is not of our own choosing.. yet there could be extreme situations that end up happening unexpectedly that go beyond the abilities of our back up funds to cover those extremes.

Figuring out a way or ways of protecting one's BTC so you don't for any reason tap into it, I guess is the reason why some people now sees extra source of income as a must for Bitcoin investment. However need for extra sources of income is personal and that is after an indept personal financial analysis. There will be other things to do and approaches on how to protect our BTC after serious personal check and financial checkup. Figuring out a way or ways of protecting one's BTC so you don't for any reason tap into it, I guess is the reason why some people now sees extra source of income as a must for Bitcoin investment. However need for extra sources of income is personal and that is after an indept personal financial analysis. There will be other things to do and approaches on how to protect our BTC after serious personal check and financial checkup.

[Shineup]

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

You may be misinformed about emergency funds. Because emergency funds never help you stay calm during a market crash or prevent you from selling when you panic. Emergency funds are basically created to protect our holdings or investments. For example, we can never tell when something will happen in our lives. If any kind of unexpected financial disaster comes in our lives, then emergency funds are created to deal with that financial disaster. So that we do not have to sell our holdings at that time, we can deal with the financial crisis with our emergency funds.

It is very natural for a new person to be scared when the market crashes. One way to not be scared when the market crashes is to build faith in Bitcoin. Because when you build faith in Bitcoin, you will not be so scared when the market crashes.

Yes having faith and believing in Bitcoin can help not to be scared when the market crashes but that is not enough and it is not also a profound statement that is good enough to make an investor to stay calm without panicking on a crashes of the market, I will tell you this that the most significant way to not be scared when the market crashes is when you have chosen to invest with your discretionary income, because even if you have faith in Bitcoin and failed to invest with within your discretionary income you are vulnerable to be scared whenever there is a market crashes.

[Hardyrobust]

Figuring out a way or ways of protecting one's BTC so you don't for any reason tap into it, I guess is the reason why some people now sees extra source of income as a must for Bitcoin investment. However need for extra sources of income is personal and that is after an indept personal financial analysis. There will be other things to do and approaches on how to protect our BTC after serious personal check and financial checkup. Figuring out a way or ways of protecting one's BTC so you don't for any reason tap into it, I guess is the reason why some people now sees extra source of income as a must for Bitcoin investment. However need for extra sources of income is personal and that is after an indept personal financial analysis. There will be other things to do and approaches on how to protect our BTC after serious personal check and financial checkup.

An extra source of income is not essential for starting investing in bitcoin or holding bitcoin for a long term. The most important thing is investing from one discretionary income and building up an emergency funds. Having an emergency funds and a discretionary can makes an investor to be able to hold his or bitcoin investment without any need for extra funds. It is only when an investor wants to frontload or increase there discretionary income, then the need for extra source of income arises. It is not something that should stop anyone from buying bitcoin as long as they have the discretionary income to invest with.

[Nightwatchmare]

Bitcoin is meant for buying and selling, Even if you hold for long you can still sell. But the more you buy dip and sell in a long time more profit you gain. It's about your financial status, if your financially stable you can buy dip and wait for long for your profit. But if your not stable you won't have the fund to buy dip. In Bitcoin investment having stable job outside Bitcoin is gain. Because you won't be move to sell when you are in need unlike those that hope only on Bitcoin investment funds.

Having patient and stable income are required in Bitcoin investment, selling your Bitcoin when you have no need for the money is waste, except is emergency. But as an investor always have an emergency money In Fiat, it will save you from selling your portfolio prematurely.

You should know when to prioritise to buy the dip because if you are a no coiner, and you prioritise buying the dip, you will not be consistent in accumulating Bitcoin, and you will miss a lot of buy opportunities since you do not know when a dip will happen or take place. You should be more concerned to buy the dip when you are very close to your over accumulation stage because you no longer need to be consistent in accumulating Bitcoin to achieve your desired amount of Bitcoin. Emergency is not even enough reason for you to sell your Bitcoin because you are supposed to set up an emergency fund you will use to take care of any emergency that will occur in your Bitcoin accumulation process.

[Jewan420]

You should know when to prioritise to buy the dip because if you are a no coiner, and you prioritise buying the dip, you will not be consistent in accumulating Bitcoin, and you will miss a lot of buy opportunities since you do not know when a dip will happen or take place. You should be more concerned to buy the dip when you are very close to your over accumulation stage because you no longer need to be consistent in accumulating Bitcoin to achieve your desired amount of Bitcoin. Emergency is not even enough reason for you to sell your Bitcoin because you are supposed to set up an emergency fund you will use to take care of any emergency that will occur in your Bitcoin accumulation process.

By investing in DCA strategy, we get the opportunity to buy dips, this is a big advantage of DCA strategy. We can even try to be aggressive in investing with extra money by focusing on our ability to be aggressive in investing. But we should never wait for any time. If you get the opportunity to buy dips, then you can definitely take that opportunity, there is no problem in that.

By adopting only dip strategy or lump sum strategy, you can lose buying opportunities and give up investment interest. Because for this we have to wait for a certain period of time and be deprived of buying opportunities. Your expected price can act as another big obstacle due to market volatility. There is no obligation for Bitcoin to continue to adapt to past statistics. So there is also uncertainty about whether the expected dip will happen or not

[Fara Chan]

<<<

You should know when to prioritise to buy the dip because if you are a no coiner, and you prioritise buying the dip, you will not be consistent in accumulating Bitcoin, and you will miss a lot of buy opportunities since you do not know when a dip will happen or take place. You should be more concerned to buy the dip when you are very close to your over accumulation stage because you no longer need to be consistent in accumulating Bitcoin to achieve your desired amount of Bitcoin. Emergency is not even enough reason for you to sell your Bitcoin because you are supposed to set up an emergency fund you will use to take care of any emergency that will occur in your Bitcoin accumulation process.

Those still struggling to accumulate Bitcoin to increase their Bitcoin holdings should buy frequently, regardless of the situation, without waiting for a price drop. Even a price drop is beneficial, as it allows them to buy Bitcoin at a lower price than before. However, in general, such individuals shouldn't wait, let alone stop buying Bitcoin just because the price hasn't dropped, because the core goal is to accumulate Bitcoin so that it can grow over time. So, the goal also needs to be considered so that you don't make a mistake in determining the steps if you want to carry out the investment in the long term.

[JayJuanGee]

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

What is most important to get started with our bitcoin investment should be our discretionary income, but at least you should have little of emergency fund, you can actually be gambling with your bitcoin investment if you get started with out having some little emergency fund and slowly be increasing it while you are buying bitcoin.

An emergency fund will not save a guy from all possibilities, yet if any guy is serious about building his bitcoin holdings, he needs to figure how to protect it so that it is not tapped into at a time that is not of the guys complete choosing.. and it takes years to build bitcoin holdings and it could get tempting to tap into such bitcoin holdings, even if your initial intention was to not tap into them.

Ultimately guys have to figure out how to reach a balance that is comfortable for them, and yeah, if they end up making mistakes and they end up tapping into their bitcoin holdings because they did not have enough back up funds, then they are going to pay the costs for that.. and no one will save them.  It can take a lot of organization to keep enough of a balance in the back up funds especially for guys who might have irregular incomes and irregular expenses, so our organizing and strengthening of our cashflow management and our back ups is one of the things that is somewhat in our control even if we might also make mistakes from time to time, yet we should hope that our mistakes are not so great as to cause us to have to sell bitcoin at a time that is not of our own choosing.. yet there could be extreme situations that end up happening unexpectedly that go beyond the abilities of our back up funds to cover those extremes.

Figuring out a way or ways of protecting one's BTC so you don't for any reason tap into it, I guess is the reason why some people now sees extra source of income as a must for Bitcoin investment.

Your emergency funds are more important than getting extra jobs, yet sure there frequently can be justifications to get more jobs, yet at the same time, there can be justifications to get higher paid jobs.

No one can really answer what kinds of positions might be available, since sometimes it might be better for a young person to work on his skills and/or his networking so that he is able to land higher paying jobs rather than working more hours in jobs that might not pay very well.   So I don't necessarily agree that the default is to just work harder when there might be some needs to upgrade skills and/or to make sure that we manage what we have in good ways. The emergency funds and back up funds will cover for scenarios that the back up jobs will not necessarily cover.

Another thing is that I might be quibbling with your assertion that we are protecting our BTC no matter what, since in the very bad scenarios we might not be able to protect our BTC, and also maybe after we reach a certain status, we might even recognize that there are going to be circumstances in which we might end up tapping into our BTC.

One of the difficulties is for the guys who are new to bitcoin.  The new guys are likely more in need of developing good and strong practices, and some guys might even think that getting more sources for work serves as a substitute for building and maintaining an emergency fund, which it does not...

Finding the right balance is up to each guy and if he ends up screwing up, then he might not always even realize the reason for his screw up unless he is already putting good practices in place, so that if he ends up screwing up, the size of the screw up ends up ONLY creating small levels of damage rather than completely taking him out of the game or greatly damaging his bitcoin holdings to such a level that he is not able to get back to his earlier accumulated levels.

However need for extra sources of income is personal and that is after an indept personal financial analysis. There will be other things to do and approaches on how to protect our BTC after serious personal check and financial checkup. Figuring out a way or ways of protecting one's BTC so you don't for any reason tap into it, I guess is the reason why some people now sees extra source of income as a must for Bitcoin investment.

An extra source of income might be "a must" in your situation or for the guys who you see, yet I would say for example that if a guy works for $10 per hour in a variety of jobs, then yeah, he is making more money by having more jobs, and maybe he is working between 60 hours and 80 hours per week and making around $600 to $800 per week.

Yet sometimes, there might be opportunities for guys of similar skill levels, and such guys might be able to get into some kind of a salaried position that maybe pays $6k per month and it pays benefits, and maybe it starts out at $1k per week but then after a few years it is possible to be up to $2k per week, and he only has to work between 30 and 50 hours per week, usually averaging out to around 40 hours per week...  Frequently, it can be better to figure out how to get into the higher paid positions rather than merely working more hours.  Of course, I cannot figure out your options or the options that you consider guys to have in which they are seeing getting another job as a must, even though sure, I agree it may well be an option to get another job, but there also can be ways to work in positions that have higher upside potential.. and sometimes there may be needs to figure out the routes into those jobs, whether training, education, contacts, experiences and/or a combination of those, and sometimes a person might not get paid as well during training or even some stepping stone positions that lead to higher level positions but might not pay off immediately in the short term..

However need for extra sources of income is personal and that is after an indept personal financial analysis. There will be other things to do and approaches on how to protect our BTC after serious personal check and financial checkup.

There can be value in some of the time spent in learning.  Sure we can learn while we are getting paid, but also our ability to learn will depend on the kind of job, so there an be both value and difficulties in finding good quality jobs and being able to get hired into such better quality jobs... .. .. and sure there is some individuality involved in terms of what kinds of jobs a person might find interesting and with possibilities of promotion and/or self-fulfillment.

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

You may be misinformed about emergency funds. Because emergency funds never help you stay calm during a market crash or prevent you from selling when you panic. Emergency funds are basically created to protect our holdings or investments. For example, we can never tell when something will happen in our lives. If any kind of unexpected financial disaster comes in our lives, then emergency funds are created to deal with that financial disaster. So that we do not have to sell our holdings at that time, we can deal with the financial crisis with our emergency funds.

It is very natural for a new person to be scared when the market crashes. One way to not be scared when the market crashes is to build faith in Bitcoin. Because when you build faith in Bitcoin, you will not be so scared when the market crashes.

Yes having faith and believing in Bitcoin can help not to be scared when the market crashes but that is not enough and it is not also a profound statement that is good enough to make an investor to stay calm without panicking on a crashes of the market, I will tell you this that the most significant way to not be scared when the market crashes is when you have chosen to invest with your discretionary income, because even if you have faith in Bitcoin and failed to invest with within your discretionary income you are vulnerable to be scared whenever there is a market crashes.

If you are ongoingly buying bitcoin then that would continue during crashes and/'or dips, so there would hardly be time to be scared since the activity is just being reinforced to keep buying.

At a certain point, maybe a person, is no longer in his buying stage, yet so many members are still in their first cycle and maybe still ONLY in their first couple of years of bitcoin, so I have difficulties understanding why they are talking about being scared instead of just keeping on buying.

Another thing is that guys can run out of money, so then he is just buying with whatever pay he gets each week.. and so yeah, the process can seem like it takes a while, but still it seems that ongoing buying would reinforce the commitment to the investment.. and perhaps some advantage in price dips even though a person could go into the negative, but if the timeline is 4-10 years or longer then the bitcoin stack going into the negative seems to be another mostly non-issue.... .or at least it should be.

In the end, guys have to decide for themselves what to do, and most likely the guys who stopped buying during dips were not doing so good.. including there likely is no need to get excited just ongoing buying every week with whatever extra income that is available for such buys without interfering with having sufficient money for expenses.

Your registered here ONLY a few months Shineup.. Hard to see why you should be worried.. if you just keep buying, but hey, whatever, do what you like.

[Joeboy]

You should know when to prioritise to buy the dip because if you are a no coiner, and you prioritise buying the dip, you will not be consistent in accumulating Bitcoin, and you will miss a lot of buy opportunities since you do not know when a dip will happen or take place. You should be more concerned to buy the dip when you are very close to your over accumulation stage because you no longer need to be consistent in accumulating Bitcoin to achieve your desired amount of Bitcoin. Emergency is not even enough reason for you to sell your Bitcoin because you are supposed to set up an emergency fund you will use to take care of any emergency that will occur in your Bitcoin accumulation process.

Thats right buying the dip is never a bad strategy but then investors should always know when to utilize such strategy. It is unwise for a beginner who has no Bitcoin holding, to begin thinking of waiting to buy the dip, honestly doing so is pure stupidity. Instead of waiting, that beginner should rather focus on stacking up bitcoin by using the DCA strategy, and then having a long term mindset of consistent stacking up and HODLing even in the face of market volatility. And in addition the amount used to invest in Bitcoin shouldnt be be made fixed, it should always be flexible, such that as you income increases so also should the amount that you should put into Bitcoin( your discretionary income).

[LOVER BOY 422]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

You will buy at the approximate rate so that you will not regret your buy , secondly you are the one who buy you should also determine when to sell at a good rate ,I think it goes a long way,during selling you should also knows how you buy to determine your profits at the end.

The major reason why will buy ,is to save money the more you hold it it might reduce after buying and immediately you sell it might go higher,so to me be very careful when and how you sell ,you can even decide not to even sell anymore ,th

This topic reminds me of a young guy who sold his 5 Bitcoin at cheaper rate , though he buy it in a small rate and hold it when it increases a bit he sold it ,5 Bitcoin he sold it $800 not quite long in a year intaval Bitcoin price went very high ,till today he is regretting why he sold it till today.so buying and selling of cryptocurrency is really at the risk of the owners.

[Shineup]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

You will buy at the approximate rate so that you will not regret your buy , secondly you are the one who buy you should also determine when to sell at a good rate ,I think it goes a long way,during selling you should also knows how you buy to determine your profits at the end.

The major reason why will buy ,is to save money the more you hold it it might reduce after buying and immediately you sell it might go higher,so to me be very careful when and how you sell ,you can even decide not to even sell anymore ,th

This topic reminds me of a young guy who sold his 5 Bitcoin at cheaper rate , though he buy it in a small rate and hold it when it increases a bit he sold it ,5 Bitcoin he sold it $800 not quite long in a year intaval Bitcoin price went very high ,till today he is regretting why he sold it till today.so buying and selling of cryptocurrency is really at the risk of the owners.

Please don't get distracted is a Bitcoin discussion thread and not cryptocurrency, mention cryptocurrency in this manner can be misleading to newbie to think that they are the same with Bitcoin. Bitcoin is known as the best coin to buy and hold for a longer period of time.

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

You may be misinformed about emergency funds. Because emergency funds never help you stay calm during a market crash or prevent you from selling when you panic. Emergency funds are basically created to protect our holdings or investments. For example, we can never tell when something will happen in our lives. If any kind of unexpected financial disaster comes in our lives, then emergency funds are created to deal with that financial disaster. So that we do not have to sell our holdings at that time, we can deal with the financial crisis with our emergency funds.

It is very natural for a new person to be scared when the market crashes. One way to not be scared when the market crashes is to build faith in Bitcoin. Because when you build faith in Bitcoin, you will not be so scared when the market crashes.

Yes having faith and believing in Bitcoin can help not to be scared when the market crashes but that is not enough and it is not also a profound statement that is good enough to make an investor to stay calm without panicking on a crashes of the market, I will tell you this that the most significant way to not be scared when the market crashes is when you have chosen to invest with your discretionary income, because even if you have faith in Bitcoin and failed to invest with within your discretionary income you are vulnerable to be scared whenever there is a market crashes.

If you are ongoingly buying bitcoin then that would continue during crashes and/'or dips, so there would hardly be time to be scared since the activity is just being reinforced to keep buying.

At a certain point, maybe a person, is no longer in his buying stage, yet so many members are still in their first cycle and maybe still ONLY in their first couple of years of bitcoin, so I have difficulties understanding why they are talking about being scared instead of just keeping on buying.

Another thing is that guys can run out of money, so then he is just buying with whatever pay he gets each week.. and so yeah, the process can seem like it takes a while, but still it seems that ongoing buying would reinforce the commitment to the investment.. and perhaps some advantage in price dips even though a person could go into the negative, but if the timeline is 4-10 years or longer then the bitcoin stack going into the negative seems to be another mostly non-issue.... .or at least it should be.

In the end, guys have to decide for themselves what to do, and most likely the guys who stopped buying during dips were not doing so good.. including there likely is no need to get excited just ongoing buying every week with whatever extra income that is available for such buys without interfering with having sufficient money for expenses.

Your registered here ONLY a few months Shineup.. Hard to see why you should be worried.. if you just keep buying, but hey, whatever, do what you like.

I got your point sir and I had no intention of getting to worried since I will be buying from my discretionary income and instead of being scared of a market crashes or dip it becomes an opportunity of buying at a cheaper price.

[Grace333]

Bitcoin is meant for buying and selling, Even if you hold for long you can still sell. But the more you buy dip and sell in a long time more profit you gain. It's about your financial status, if your financially stable you can buy dip and wait for long for your profit. But if your not stable you won't have the fund to buy dip. In Bitcoin investment having stable job outside Bitcoin is gain. Because you won't be move to sell when you are in need unlike those that hope only on Bitcoin investment funds.

Having patient and stable income are required in Bitcoin investment, selling your Bitcoin when you have no need for the money is waste, except is emergency. But as an investor always have an emergency money In Fiat, it will save you from selling your portfolio prematurely.

You should know when to prioritise to buy the dip because if you are a no coiner, and you prioritise buying the dip, you will not be consistent in accumulating Bitcoin, and you will miss a lot of buy opportunities since you do not know when a dip will happen or take place. You should be more concerned to buy the dip when you are very close to your over accumulation stage because you no longer need to be consistent in accumulating Bitcoin to achieve your desired amount of Bitcoin. Emergency is not even enough reason for you to sell your Bitcoin because you are supposed to set up an emergency fund you will use to take care of any emergency that will occur in your Bitcoin accumulation process.

Yeah, the truth is, if you are still in your early accumulation stage, waiting for dips can mess up your plan big time. Bitcoin does not always move the way we expect, and by the time you realize a dip is forming, price might already be gone..

I like how you also mentioned emergency funds, that is something people ignore. You can’t be selling your Bitcoin every time life throws you a little problem, that is just backward.

[Silikiem]

You will buy at the approximate rate so that you will not regret your buy , secondly you are the one who buy you should also determine when to sell at a good rate ,I think it goes a long way,during selling you should also knows how you buy to determine your profits at the end.

This is a traders mindset and not a real bitcoin investors mindset. Such statements are very misleading as it doesn’t speak well of a real bitcoin investor rather it is the mindset of traders who are just in for a quick profit making. As a bitcoin investor, you need to invest for the long term goal or mindset, you don’t have to time the market before you can buy and invest in bitcoin at approximate rate, all what you need to do is to figure out a discretionary income to use and accumulate bitcoin at any market price. The DCA method of accumulation helps you to regularly accumulate bitcoin and hold with just your discretionary income either on weekly or monthly basis depending on how your income flows. With this method you can gradually accumulate bitcoin regularly to help you build up your portfolio to a reasonable decent level where you can comfortably say that you’ve gotten to your accumulation target or perhaps surpassed your accumulation target to a level of an over accumulation whereby at that point after investing and holding for years you can comfortably decide to employ the sustainable withdrawal method to take out your profit knowing fully well that if you do so it won’t affect your bitcoin holdings.

[Zackz5000]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

You will buy at the approximate rate so that you will not regret your buy , secondly you are the one who buy you should also determine when to sell at a good rate ,I think it goes a long way,during selling you should also knows how you buy to determine your profits at the end.

The major reason why will buy ,is to save money the more you hold it it might reduce after buying and immediately you sell it might go higher,so to me be very careful when and how you sell ,you can even decide not to even sell anymore ,th

This topic reminds me of a young guy who sold his 5 Bitcoin at cheaper rate , though he buy it in a small rate and hold it when it increases a bit he sold it ,5 Bitcoin he sold it $800 not quite long in a year intaval Bitcoin price went very high ,till today he is regretting why he sold it till today.so buying and selling of cryptocurrency is really at the risk of the owners.

Bitcoin investment is for a long term your friend would have been in bigger profit by now if he was still accumulating Bitcoin and HODL till now but he decided to trade for a little profit. Bitcoin investment shouldn't be buying and selling, there are level you will accumulate to and has hodl Bitcoin for long you can sell small and take profit and still continue to hodl.

If you plan hodling for long you won't panic to sell when the price reduce those who does that are traders because of fear that the market will dip more, but investors will even accumulate more when the price reduce and still be hodling knowing the price will go up some day.

[ejikeme24]

Your emergency funds are more important than getting extra jobs, yet sure there frequently can be justifications to get more jobs, yet at the same time, there can be justifications to get higher paid jobs.

I agreed with your overall point, having emergency funds is very important and surely getting extra jobs is very essential more especially a higher paid jobs at that. because it will help us to keep growing our emergency funds to an extent where we can almost say that the amount of money we have in our emergency funds can save us from whatever challenges that will arise but this is not something we can achieve within a short period of time but it's by being consistent in putting money in our emergency funds just like that of our Bitcoin investment that we are advised to maintain the ongoingly buying of Bitcoin more especially when we are going with the DCA so we also need to apply this same method in our emergency building so that it will be very solid.

[JayJuanGee]

Your emergency funds are more important than getting extra jobs, yet sure there frequently can be justifications to get more jobs, yet at the same time, there can be justifications to get higher paid jobs.

I agreed with your overall point, having emergency funds is very important and surely getting extra jobs is very essential more especially a higher paid jobs at that. because it will help us to keep growing our emergency funds to an extent where we can almost say that the amount of money we have in our emergency funds can save us from whatever challenges that will arise but this is not something we can achieve within a short period of time but it's by being consistent in putting money in our emergency funds just like that of our Bitcoin investment that we are advised to maintain the ongoingly buying of Bitcoin more especially when we are going with the DCA so we also need to apply this same method in our emergency building so that it will be very solid.

It could be the case that getting an extra job will end up increasing discretionary income so that there is more money to work with in order to be able to 1) invest in bitcoin, to 2) set aside more money for emergency funds and reserves, and/or to 3) consume more. 

Nothing wrong with any of that, even though getting another job is not the only solution, and it might not even be a permanent solution.. It could just be a temporary solution.  We cannot judge the situation of another person, yet it becomes problematic if the person might be describing getting another job as if it were the ONLY solution or the "obvious" solution, when that is not necessarily true.

[ZeroVinsonN]

Your emergency funds are more important than getting extra jobs, yet sure there frequently can be justifications to get more jobs, yet at the same time, there can be justifications to get higher paid jobs.

I agreed with your overall point, having emergency funds is very important and surely getting extra jobs is very essential more especially a higher paid jobs at that. because it will help us to keep growing our emergency funds to an extent where we can almost say that the amount of money we have in our emergency funds can save us from whatever challenges that will arise but this is not something we can achieve within a short period of time but it's by being consistent in putting money in our emergency funds just like that of our Bitcoin investment that we are advised to maintain the ongoingly buying of Bitcoin more especially when we are going with the DCA so we also need to apply this same method in our emergency building so that it will be very solid.

It could be the case that getting an extra job will end up increasing discretionary income so that there is more money to work with in order to be able to 1) invest in bitcoin, to 2) set aside more money for emergency funds and reserves, and/or to 3) consume more. 

Nothing wrong with any of that, even though getting another job is not the only solution, and it might not even be a permanent solution.. It could just be a temporary solution.  We cannot judge the situation of another person, yet it becomes problematic if the person might be describing getting another job as if it were the ONLY solution or the "obvious" solution, when that is not necessarily true.

This is true because most people are already to busy with their current job that they just can not afford to get another one so they will have to redirect their intentions of saving up for emergency toward other options, sometimes people get bonuses from work and they end up spending more than they usually do because they feel that they have earned it, instead of immediately spending this bonus you can redirect it to you emergency fund, it could also be that you got a refund for one thing or the other or maybe you got a cash gift too, these could be redirected into your emergency fund, there is also the options of trying to reduce your bills, most people pay more for internet and electricity than they actually need and they end up wasting it instead of doing something more productive with the extra cash, you can also even loan out something you have like an equipment, a ladder, a lawn mower or anything else that can bring in extra cash which you can add to your emergency fund or even invest in bitcoin with.

[Cossyblack]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

You will buy at the approximate rate so that you will not regret your buy , secondly you are the one who buy you should also determine when to sell at a good rate ,I think it goes a long way,during selling you should also knows how you buy to determine your profits at the end.

The major reason why will buy ,is to save money the more you hold it it might reduce after buying and immediately you sell it might go higher,so to me be very careful when and how you sell ,you can even decide not to even sell anymore ,th

This topic reminds me of a young guy who sold his 5 Bitcoin at cheaper rate , though he buy it in a small rate and hold it when it increases a bit he sold it ,5 Bitcoin he sold it $800 not quite long in a year intaval Bitcoin price went very high ,till today he is regretting why he sold it till today.so buying and selling of cryptocurrency is really at the risk of the owners.

I can see you haven't learned anything from your friend who is still live in regrets after he sold out his 5BTC for a cheap price. The way Bitcoin is growing, it may Someday reach $700k to $1 million or somewhere close to that range in the nearest future and by then,the worth of 5 BTC will be 5x the price and more of what it is valued today. That alone gives me the Impression that if your friend was patient not to sell and had hold for an extra 4-10 years,he would be profits.  Long term Bitcoin Holding can gives you double the profits and more, than the value of what you're selling or trading Bitcoin at the market today.

[Proty]

You should know when to prioritise to buy the dip because if you are a no coiner, and you prioritise buying the dip, you will not be consistent in accumulating Bitcoin, and you will miss a lot of buy opportunities since you do not know when a dip will happen or take place. You should be more concerned to buy the dip when you are very close to your over accumulation stage because you no longer need to be consistent in accumulating Bitcoin to achieve your desired amount of Bitcoin. Emergency is not even enough reason for you to sell your Bitcoin because you are supposed to set up an emergency fund you will use to take care of any emergency that will occur in your Bitcoin accumulation process.

Thats right buying the dip is never a bad strategy but then investors should always know when to utilize such strategy. It is unwise for a beginner who has no Bitcoin holding, to begin thinking of waiting to buy the dip, honestly doing so is pure stupidity. Instead of waiting, that beginner should rather focus on stacking up bitcoin by using the DCA strategy, and then having a long term mindset of consistent stacking up and HODLing even in the face of market volatility. And in addition the amount used to invest in Bitcoin shouldnt be be made fixed, it should always be flexible, such that as you income increases so also should the amount that you should put into Bitcoin( your discretionary income).

definitely there is no one of the strategies that is not good for accumulating bitcoin . It is just for an investor to look out for the one that will work best for his or her financial situation. Sometimes it is majorly so you to wrong application of the strategies that makes some people to think that some strategies aren't good. Buying the dips isn't a bad strategy, but when it is wrongly employ that it is when it becomes a bad thing. Like you have pointed, it be wrong for a no coiner to be waiting for a dip instead of focusing on continuous accumulation of bitcoin in other to have good holding in bitcoin.

[JayJuanGee]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

You will buy at the approximate rate so that you will not regret your buy , secondly you are the one who buy you should also determine when to sell at a good rate ,I think it goes a long way,during selling you should also knows how you buy to determine your profits at the end.

The major reason why will buy ,is to save money the more you hold it it might reduce after buying and immediately you sell it might go higher,so to me be very careful when and how you sell ,you can even decide not to even sell anymore ,th
This topic reminds me of a young guy who sold his 5 Bitcoin at cheaper rate , though he buy it in a small rate and hold it when it increases a bit he sold it ,5 Bitcoin he sold it $800 not quite long in a year intaval Bitcoin price went very high ,till today he is regretting why he sold it till today.so buying and selling of cryptocurrency is really at the risk of the owners.

I can see you haven't learned anything from your friend who is still live in regrets after he sold out his 5BTC for a cheap price. The way Bitcoin is growing, it may Someday reach $700k to $1 million or somewhere close to that range in the nearest future and by then,the worth of 5 BTC will be 5x the price and more of what it is valued today. That alone gives me the Impression that if your friend was patient not to sell and had hold for an extra 4-10 years,he would be profits.  Long term Bitcoin Holding can gives you double the profits and more, than the value of what you're selling or trading Bitcoin at the market today.

If a person has an intention to sell their bitcoin, maybe you can get them to hold onto their bitcoin for a bit longer, but deep down they are itchy and nervous and they don't want to lose money.  They want to make money and they don't really believe in bitcoin, and they are merely trying to get paper profits in dollars so that they can spend their profits.

I recall that during late 2014 and into 2015, I had a friend who had noticed that I had been involved in bitcoin, and my friend was watching me.  Finally after about 6 months watching me, my friend finally decided to buy some bitcoin in the middle of 2015. At various points, he bought 17 bitcoin for an average that was around $220 each (so the costs were around $3,800), and when the bitcoin went up to $350, my friend sold all of his bitcoin for about $5,900-ish, and made around $2k in profits.  My friend was happy and went out and bought some luxury items.

People do crazy shit, and in some sense they feel that the profited from their actions, but in the end there was a bit of a lacking of acceptance of bitcoin as a long term investment.   It is difficult to figure out how to communicate with a person so that they will become more informed about the topic of bitcoin so that they can really profit from creating a long term plan to accumulate and hold bitcoin and following through with such plan.  

Maybe there can be ways to get them to limit that they trade with 10% of the size of their BTC portfolio, but hold the other 90% and don't trade it, yet they aren't going to do it.  

People are going to do what they want, and it might not be a good way to go forward, but they are going to do what they want anyhow based on their own opinion on the topic of bitcoin, investing and how to live life.

[Tungbulu]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

You will buy at the approximate rate so that you will not regret your buy , secondly you are the one who buy you should also determine when to sell at a good rate ,I think it goes a long way,during selling you should also knows how you buy to determine your profits at the end.

The major reason why will buy ,is to save money the more you hold it it might reduce after buying and immediately you sell it might go higher,so to me be very careful when and how you sell ,you can even decide not to even sell anymore ,th
This topic reminds me of a young guy who sold his 5 Bitcoin at cheaper rate , though he buy it in a small rate and hold it when it increases a bit he sold it ,5 Bitcoin he sold it $800 not quite long in a year intaval Bitcoin price went very high ,till today he is regretting why he sold it till today.so buying and selling of cryptocurrency is really at the risk of the owners.

I can see you haven't learned anything from your friend who is still live in regrets after he sold out his 5BTC for a cheap price. The way Bitcoin is growing, it may Someday reach $700k to $1 million or somewhere close to that range in the nearest future and by then,the worth of 5 BTC will be 5x the price and more of what it is valued today. That alone gives me the Impression that if your friend was patient not to sell and had hold for an extra 4-10 years,he would be profits.  Long term Bitcoin Holding can gives you double the profits and more, than the value of what you're selling or trading Bitcoin at the market today.

If a person has an intention to sell their bitcoin, maybe you can get them to hold onto their bitcoin for a bit longer, but deep down they are itchy and nervous and they don't want to lose money.  They want to make money and they don't really believe in bitcoin, and they are merely trying to get paper profits in dollars so that they can spend their profits.

I remember I used to be that investor, having my emotions swayed by every little movement in the market, filling my bag with shitcoins as my backup plan lol, just incase I lose all my money in Bitcoin. And this has made me realize that it takes only a person who has got conviction and has truly understood the behavior Bitcoin to truly hodl pass market fluctuations. Yeah, getting started doesn’t really need much, but to stay in line, you need to have that personal conviction and develop the right mindset and being very intentional about the fact that Bitcoin investment is more of a long term thing than just some place you go for some easy and quick bucks.