When it comes to DCA into Bitcoin, what gets you going?

[JOKER081]

What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term? And also, what challenges have you faced that tried to ruin your DCA mindset?

What DCA does is create convenience, between your earnings and spending still giving an option of investing. DCA is the best strategy to use for someone with low or moderate income, the investor won't feel pressured to invest in large sum, rather the investor strategy applies to accumulating over a long period.

It is wise for ordinary investors to use the DCA method. If he cannot afford to buy a lot of Bitcoin or if he wants to buy Bitcoin with his weekly or monthly salary, he can start depositing Bitcoin little by little every week or every month using the DCA method. And I think that depositing Bitcoin using the DCA method will make his Bitcoin holding more long-term. Especially if he is in some financial problem, he can stop depositing his Bitcoin for a few days and when he gets his problem solved, he can start depositing Bitcoin again.

[lionheart78]

What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term?

Obviously lack of financial capability.  If one has a job and started to DCA and all of a sudden he lost his job, this obviously will cripple his will to keep on DCA'ing until he find another Job.  Cases of emergencies that needs funds, this also cripple a made-up mind to DCA until the needs is resolved.  In short, it is the fundings that can criple any strong will to DCA if it is not available.

And also, what challenges have you faced that tried to ruin your DCA mindset?

The challenges that I have faced that tried to ruin my DCA mindset are friends and family's doubt, and financial shortcomings.  The crash of Bitcoin price never discourage me instead it gives me more inspiration because I am able to buy BTC at a discounted price.

[Alphakilo]

What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term?

Obviously lack of financial capability.  If one has a job and started to DCA and all of a sudden he lost his job, this obviously will cripple his will to keep on DCA'ing until he find another Job.  Cases of emergencies that needs funds, this also cripple a made-up mind to DCA until the needs is resolved.  In short, it is the fundings that can criple any strong will to DCA if it is not available.

And also, what challenges have you faced that tried to ruin your DCA mindset?

The challenges that I have faced that tried to ruin my DCA mindset are friends and family's doubt, and financial shortcomings.  The crash of Bitcoin price never discourage me instead it gives me more inspiration because I am able to buy BTC at a discounted price.

Family or friends never stopped my will to DCA, infact, they encourage me and that's if I have told them I was doing something like that in the first place.
Otherwise, my DCA strategy is a secret investment and one may only guess am into something of such when I come to ask questions that regards cold wallet or hot wallets or security features and tips or even about the best exchange with cheapest fees and fast network speed.

The will to DCA actually involves how much funds one earns or can put aside, if one has experienced hacks or scams and is not discouraged to continue and if one does have a goal already in mind.
Where there isn't a goal in mind before dcaing am sure that's when other life challenges come in different ways just to reclaim the funds and make one discouraged to even consider DCAing later on.

[PremiumcryptoHub]

Do not allow anyone to talk you out of your conviction about holding Bitcoin for a long term, after you make up your mind is likely when adversity will start showing up, it nearly got the best of me three years back.

I lost my job and trusted friends tried to discourage my idea of buying Bitcoin, today they are all buying like their lives depend on it, a lesson they learnt from me the hard way.

After learning about Bitcoin, my family and trusted friends tried to discourage me but I didn't let their idea take root in my mind. As a result now they are trying to follow my activities, so after learning and understanding about Bitcoin, everyone has the confidence to invest in this coin.

What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term? And also, what challenges have you faced that tried to ruin your DCA mindset?

Take a look at these, Financial capability, source of money needed to use for Bitcoin investment, market analysis, proper money management, and sufficient knowledge, if these things are not there, then buying and holding your Bitcoin for the long term may cripple your resolve. Therefore before investing, everyone should strengthen their hands in such a way that they do not face any obstacles while investing in Bitcoin, especially to meet financial needs.
To be honest I have not yet faced any challenge that could destroy the DCA mentality, this method is the most accessible because this investment can be started with a small amount of money to purchase small increments.

[Z390]

I lost my job and trusted friends tried to discourage my idea of buying Bitcoin, today they are all buying like their lives depend on it, a lesson they learnt from me the hard way.

One thing about life is that no one will believe you until they see results or when you have made it. Your results will be  motivation for a start-up.

What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term? And also, what challenges have you faced that tried to ruin your DCA mindset?

The way to cripple the made up mind is by kicking against them when they think of advising you or trying to talk anything contrary to your plan. Sometimes advice can be deceptive without knowing. You may see it as a joke until you gradually deviate from you plan.

No one knows better, that's just it, and at times, out of love people around us will try to talk out of anything, but what they failed to understand is the possibility that they can't know it all, stopping other people's decisions doesn't show you love them more.
Depend on who they are, I have always try to explain things out and those who understand will move on and give me the room but those who doubts will still continue and I will have to start avoiding them.
There are dream killers out there in the world, they will do all they can to stop you from doing better than they are, one only have to figure them out and get smarter than them.

[Proty]

Do not allow anyone to talk you out of your conviction about holding Bitcoin for a long term, after you make up your mind is likely when adversity will start showing up, it nearly got the best of me three years back.

I lost my job and trusted friends tried to discourage my idea of buying Bitcoin, today they are all buying like their lives depend on it, a lesson they learnt from me the hard way.

What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term? And also, what challenges have you faced that tried to ruin your DCA mindset?

no one can make or influence into taking the wrong decision as regards my investments. When you have an investment plan, it will make to be focus and resolute in face of any challenges that may want to derail your investment plan. I believe if one is determined to be buying and holding bitcoin for longer term, nothing can possibly make you to change your mind, unless a situation were the person is not following the right investment procedures. The challenges I had that try to impede with my regular dca was using up my emergency funds for non emergent situation. So when the emergency occurs I wasn't really having any funds , although I was planning to replace my emergency funds before this emergency crop up.

[Abu-Naim]

I lost my job and trusted friends tried to discourage my idea of buying Bitcoin, today they are all buying like their lives depend on it, a lesson they learnt from me the hard way.

What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term? And also, what challenges have you faced that tried to ruin your DCA mindset?

Had it been you have followed your friend’s advice to stop buying Bitcoin when the price might be lower, you could have regretted the action because you can’t get the fractions of Bitcoin you accumulated let’s say a year ago now with that same amount of money, that is why the DCA method is the best strategy to invest in Bitcoin especially if you don’t have huge money to buy at once.

Never take advice from anyone that will discourage your Bitcoin journey, they will also join you letter to buy Bitcoin because they will letter know the importance of Bitcoin just as you already said that they buying Bitcoin.

Nevertheless, make sure you have extra money for your upkeep to avoid selling your Bitcoin within short term, and make sure you avoid taking loan to invest, always invest the amount you can afford to lose.

[mindrust]

Major historical events might confuse you like a pandemic (covid19) or war… Otherwise if you are convinced enough nothing can shake you out of your position. When the media goes full doom and gloom mode, people panic. Everybody does and you get affected by it more or less. The less is the better obviously.

I feel like they are preparing something big again and this time covid19 will look innocent compared to what they are brewing. If you can survive the next wave, you will be among the richest people on earth.

[Powerjumboo]

Do not allow anyone to talk you out of your conviction about holding Bitcoin for a long term, after you make up your mind is likely when adversity will start showing up, it nearly got the best of me three years back.

I lost my job and trusted friends tried to discourage my idea of buying Bitcoin, today they are all buying like their lives depend on it, a lesson they learnt from me the hard way.

What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term? And also, what challenges have you faced that tried to ruin your DCA mindset?

Actually, money is everything. If people have enough money, then people can buy Bitcoin at once and hold it for a long time. If people do not have much money and plan to buy something after earning some money every day or every week or every month and hold it for a long time, then they have to invest following the DCA method and hold it for a long time. Now the answer to the question is that if my long-term Bitcoin buying and holding mindset can be paralyzed, it is because our income is disrupted for some reason.

We have a small income, this arrangement is sometimes disrupted for some reason and the income stops, then it can paralyze our long-term Bitcoin buying and holding mindset because if our income is disrupted, we will no longer be able to invest following the DCA method and we will not be able to hold it for a long time. I have not faced any problem while investing using the DCA method so far. I am trying to accumulate some Bitcoins according to my ability and plan to hold it for a long time.

[Stormisover]

Do not allow anyone to talk you out of your conviction about holding Bitcoin for a long term, after you make up your mind is likely when adversity will start showing up, it nearly got the best of me three years back.

I lost my job and trusted friends tried to discourage my idea of buying Bitcoin, today they are all buying like their lives depend on it, a lesson they learnt from me the hard way.

What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term? And also, what challenges have you faced that tried to ruin your DCA mindset?

no one can make or influence into taking the wrong decision as regards my investments. When you have an investment plan, it will make to be focus and resolute in face of any challenges that may want to derail your investment plan. I believe if one is determined to be buying and holding bitcoin for longer term, nothing can possibly make you to change your mind, unless a situation were the person is not following the right investment procedures. The challenges I had that try to impede with my regular dca was using up my emergency funds for non emergent situation. So when the emergency occurs I wasn't really having any funds , although I was planning to replace my emergency funds before this emergency crop up.

Investment should be a personal decision for the sole reason that when things goes wrong you will take all the blames on your self rather than putting it on some else, people make this kind of mistakes by allowing others influence their investment decisions which is very wrong, their is not wrong listening to friends advice but it must align with own decisions and you must have the final say by taken it upon yourself and not as to your friends, using up an emergency funds for not a real emergency is very wrong approach since no one knows when this emergency will happen I believe that you must have learned your lessons.

[Sanitough]

I have my own drive and have set clear goals for DCAing bitcoin, and for that, it keeps me going and moving forward. That is the advantage if you are sure of what you’re doing, because you will stick to it no matter how many distractions around. And despite people discouraging you from getting into bitcoin, but the fact that you got nothing to lose because you are only investing on your spare money, on something you can afford to lose, then that keeps you going without doubts and fears that you will only regret taking risk in the end.

And as my own perspective, you have to strike while the iron is hot. And that’s what I’m doing, DCAing with bitcoin because I have high hopes and faith with bitcoin in the future.

[hd49728]

It's difficult if you are in a situation where you lose your job and your Bitcoin portfolio is in negative. If someone is going to invest in Bitcoin then he has to keep this in his mind that it may time before he will get his desired profit and things will get tough if you lose your income stream.

If a person invest like this, he does it with terrible finance management as good management must take bad situations like losing a job into consideration. Hence, it is necessary to prepare your finance, save part of it for bad situations like job loss and emergency.

If you manage your finance we'll, you will deal with hard times like jobless better and time will help you find a new job without need of selling your bitcoin to use.

[Takyeon]

Financial capacity is the biggest challenge if you want to invest in bitcoin, it is nothing to play with, if i am in the shoe of advising any starter i will be frank with them, i will tell them to do the following..

1. Make sure you have a capable job.
2. Bitcoin investment must not come between your family and responsibility
3. Dedicate a percentage in mind for bitcoin investment, sort out every bills first.
4. Understand that bitcoin investment is like preparing for the future, it will take a long time to yield something.
5. No job, no bitcoin investment, unless you want to make your life a miserable one.

Bitcoin investment today is all about better preparation, in the part it was a bit easy and today it is not.

[Y3shot]

It is wise for ordinary investors to use the DCA method. If he cannot afford to buy a lot of Bitcoin or if he wants to buy Bitcoin with his weekly or monthly salary, he can start depositing Bitcoin little by little every week or every month using the DCA method. And I think that depositing Bitcoin using the DCA method will make his Bitcoin holding more long-term. Especially if he is in some financial problem, he can stop depositing his Bitcoin for a few days and when he gets his problem solved, he can start depositing Bitcoin again.

Apart from the DCA strategy of investing, Bitcoin is an advantage to low earners. It is also an advantage for Bitcoin investors to accumulate a better amount of Bitcoin when they are very consistent with it. For those who can afford to invest a large amount of Bitcoin at one time, they might think that the amount they have invested is enough, and they just hold it. However, investors who normally use the DCA method in investing are very consistent; accumulating Bitcoin is just like a hobby to them, and a good amount of Bitcoin is accumulated in the end.

[Gaza13]

Do not allow anyone to talk you out of your conviction about holding Bitcoin for a long term, after you make up your mind is likely when adversity will start showing up, it nearly got the best of me three years back.

I lost my job and trusted friends tried to discourage my idea of buying Bitcoin, today they are all buying like their lives depend on it, a lesson they learnt from me the hard way.

What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term? And also, what challenges have you faced that tried to ruin your DCA mindset?

Of course, your friend sees something valuable in this asset, namely Bitcoin. I think what weakens it and prevents it from being a long-term asset is the knowledge of each individual. The first thing is the lack of a deep understanding of their ignorance of Bitcoin's technology and long-term potential, which can make you easily waver when dealing with it.

The biggest challenge that destroys the DCA process is extreme market volatility, which can make it difficult to determine the right time to buy. We naturally want to get the lowest price we can find. Another major temptation is losing our job, which can destroy our mental resilience, but most of them succumb to everyday circumstances which can cause them to slowly sell these assets for their daily needs.

[CryptoYar]

Idea of being long term holders of Bitcoin is largely wrecked by human emotions and external pressure, other than the market itself. The biggest risks are seeing the price fall at once resulting in panic selling, and constant bad news or FUD which makes you doubt your decision. The other major trap is the so called Shiny Object syndrome, when you stop to focus on Bitcoin and go after smaller, more risky coins, but an emergency, such as job loss, may also force you to sell. Likewise, maintaining a regular DCA plan is wrecked by the feeling of being greedy or tired you either wait for the price to drop when the market is up and miss out, or buy too much too fast when the market jumps up because of FOMO, or you stop buying during a bear market when the market is still falling and watch your money disappear.

[Razmirraz]

The main thing that cripples a strong mind is price volatility. When the price crashes 50% or more, doubt creeps in and people panic sell at a loss.

If you feel anxious or start to panic when the price drops and sell at a loss, it means you don't have a clear strategy and don't fully understand the risks involved in Bitcoin investing. Price volatility is a challenge that should help investors build mental strength, but you should remain confident in Bitcoin immense long-term potential.
The direction of investment in the future depends on your current abilities and mentality, always stick to the initial goal of 'Buy at a low price and sell it at a higher price'. Always face challenges with a positive mindset so as not to make impulsive decisions based on short-term price fluctuations.

[traderethereum]

If you want to buy Bitcoin, it is better that you hide it from your friends. No need to tell them your idea of buying Bitcoin because they don't have to know that. That can prevent friends from trying to discourage your idea so you will not delay or feel afraid if they leave you.

The challenge that can ruin your DCA mindset is when you tell about your Bitcoin investment to those who can't accept your idea of buying Bitcoin. They will reject it and try to hodl you from doing your idea. They will say bad things about Bitcoin investment and don't care if you lose money. Investing in Bitcoin will be your responsibility so you don't have to tell your friends about Bitcoin investment.

[ancafe]

I lost my job and trusted friends tried to discourage my idea of buying Bitcoin, today they are all buying like their lives depend on it, a lesson they learnt from me the hard way.

What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term? And also, what challenges have you faced that tried to ruin your DCA mindset?

That's never happened to me, and some of my friends have insisted on prioritizing investing, especially in Bitcoin. The only reason I can think of is because you might be jobless after being laid off, so your friends are trying to discourage you from investing in that situation. But it's different when you have a stable job, and if your friends discourage you from investing in Bitcoin, it's wrong and shouldn't be listened to because they probably don't understand Bitcoin themselves.

My confidence in investing in Bitcoin has already been established, so nothing can weaken it because it's a long-standing decision I made. The reason I use DCA is because it's a more suitable pattern, allowing us to participate in accumulation that aligns with our capital, and it's simply a way for someone to maximize which exists potential.

[GreatArkansas]

(....)
What are ways that can cripple a made up mind about buying and holding Bitcoin for a long term? And also, what challenges have you faced that tried to ruin your DCA mindset?

The big challenge for me is the FUD! Especially if you are scrolling on social media and you see some post or content about people discouraging Bitcoin. It's tough. That's why sometimes I really don't spend too much in social media.
Another thing is notifications of some apps, which will lead you to check the price of Bitcoin time to time, this is not good for DCA because instead your focus is just to buy, but sometimes if you saw price of Bitcoin is dumping, are worried and could lead to panic selling.