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

[GEMIN_M4]

We grow up to love our family and siblings, the biggest challenge for me comes from my own people whom I love very dearly, they hate that I am running after some scam called Bitcoin and at the time some platforms are scamming the hell out of people using Bitcoin, they had some proof to show me that Bitcoin was scam, and I had nothing to show them that Bitcoin wasn't the scam but those who are running a scam platform are.

I grow stronger, as I always look up to them for confidence and motivation, when it comes to Bitcoin they gave me nothing but hate, this I thought would be the end of me and Bitcoin but what I believe was too strong so I fought on my own, started ignoring people for validation, this reshape who I was into something they don't want to see, I am able to breath without them, make decisions without them and eventually I outgrow them.

Today, all I can pass on to them as a way of helping is ' if you can't defeat them you join them' they finally get defeated because Bitcoin is over 100k and they never believed it can happen.

[Ever-young]

Emergency… that is the biggest threat to an investors accumulation journey. That’s why it’s always important to prepare for emergencies before they occur, because no matter how far you’ve gone with your accumulation, if an emergency pops up and you’ve got no safety net to fall back on, you’ll be putting yourself under lots of financial pressure, one that could potentially make you dip into your investment.
A lot of investors underestimate the importance of the emergency fund, but I keep saying that the emergency fund is just as important as the investment itself because every investment needs security and without that security, the investment is left vulnerable and anything can happen at that point.

[Davidson500]

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.

The biggest challenge is needing the money for an emergency, like losing a job. It forces you to sell your stack when you don't want to. Staying employed with an emergency cash fund is key to holding long-term.

You forgot to mention procastination this has led others who wanted to invest but keep pushing it forward at the end never invested, volatility is a brother to bitcoin this is what you need to know bitcoin price doesn't only go in one direction but up and down.
Emergency fund should be your second plan after having your discretionary income to invest with then you can start cutting out small money from your discretionary to get your emergency fund so you won't sell stack when the real emergency hit up.

[Adams0001]

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.

Keeping thing secret make you have peace of mind and everything will be going smoothly for you, telling your friends or loves one about your investment is not that advisable but if they later know about it and they feel they are interested you can probably guide them through on how he moves. but if they are not interested you can keep quiet and continue running your investment and you can't force anyone to invest or do what you are doing. Because if you try to force them you will make yourself to blame because anything that happens to there funds they will definitely blame you if they didn't achieve there goals. Everybody is different the way you can invest and hold for long term someone can't do that, they will prefer a shot term project and such people are not that patient In investing. DCA is another method that many people are using to minimize there risk in investing in bitcoin anyone that start investing new in bitcoin DCA is the best to used and keep funds safe and minimize is risky probably.

[Free Market Capitalist]

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

Having a short-term mindset and therefore wanting to spend now instead of enjoying future abundance. Also, not fully understanding compound interest.

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

None lately. Years ago, at the beginning, not knowing much about personal finances and not having good management skills, such as not having an adequate emergency fund.

[Rustam Meraj]

Keeping thing secret make you have peace of mind and everything will be going smoothly for you, telling your friends or loves one about your investment is not that advisable but if they later know about it and they feel they are interested you can probably guide them through on how he moves. but if they are not interested you can keep quiet and continue running your investment and you can't force anyone to invest or do what you are doing. Because if you try to force them you will make yourself to blame because anything that happens to there funds they will definitely blame you if they didn't achieve there goals. Everybody is different the way you can invest and hold for long term someone can't do that, they will prefer a shot term project and such people are not that patient In investing. DCA is another method that many people are using to minimize there risk in investing in bitcoin anyone that start investing new in bitcoin DCA is the best to used and keep funds safe and minimize is risky probably.

This is excellent and useful advice that you need to keep your investments to yourself to have peace of mind and follow your plan and never make other people invest because in case they lose money they will blame you because different people have different patience and risk limits. To new investors, best risk lowering plan in wild market such as Bitcoin is to use Dollar Cost Averaging meaning investing fixed small amount of money often other than investing it all at once, which is safer since you will be buying at both high and low prices, making average out large price changes over time.

[Gost ms]

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?

The first mistake you made was that you took advice from a fool. If you had taken advice from a person who knew about Bitcoin, he would not have given you such advice.

First of all, a person should have basic knowledge about Bitcoin, faith in Bitcoin and a source of discretionary income. If a person has these things, then he can start investing and can learn a lot after starting investing. The biggest problem that an investor faces is dealing with the decline of the Bitcoin market. Many people start investing in the first stage and as soon as they see a decline in the market, they get scared and sell their holdings. If a person is able to deal with 1 or 2 declines, then he may not be afraid during the decline.

[Jaksonhard]

The first mistake you made was that you took advice from a fool. If you had taken advice from a person who knew about Bitcoin, he would not have given you such advice.

First of all, a person should have basic knowledge about Bitcoin, faith in Bitcoin and a source of discretionary income. If a person has these things, then he can start investing and can learn a lot after starting investing. The biggest problem that an investor faces is dealing with the decline of the Bitcoin market. Many people start investing in the first stage and as soon as they see a decline in the market, they get scared and sell their holdings. If a person is able to deal with 1 or 2 declines, then he may not be afraid during the decline.

To survive in the Bitcoin market, one must use his long-term knowledge. Because he may encounter some problems during the market that may make him decide to sell Bitcoin, so at that time he should be patient and if he understands the market correctly, he will not be afraid.

If you want to invest in any cryptocurrency, you should definitely not be afraid of the price going down. Because at that time if you see the market falling and decide to sell your Bitcoin holdings, then it will be a big mistake for you, because we know that even if Bitcoin gets some laughs, it has the chance to go to the moon again, so I think if they do not have the ability to face such problems, they should not invest in Bitcoin, because they may get involved in wrong decisions due to fear at that time.

[melinoe]

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?

The first mistake you made was that you took advice from a fool. If you had taken advice from a person who knew about Bitcoin, he would not have given you such advice.

First of all, a person should have basic knowledge about Bitcoin, faith in Bitcoin and a source of discretionary income. If a person has these things, then he can start investing and can learn a lot after starting investing. The biggest problem that an investor faces is dealing with the decline of the Bitcoin market. Many people start investing in the first stage and as soon as they see a decline in the market, they get scared and sell their holdings. If a person is able to deal with 1 or 2 declines, then he may not be afraid during the decline.

That's why we should buy BTC only with the funds we are willing to use for it.

To not to be afraid once BTC naturally dips or corrects itself.. it's okay when it does it - it's not okay to panic sell.

[Kelvinid]

Do not allow people to easily twist what you have made up on your mind, otherwise you only prove them that you are weak and you can’t stand on your own no matter how strong your drive and motivation are. Know your goal and stick to your plan to achieve it, and do not seek for other people’s validation as they are not you, nor you to them.

Now when it comes to bitcoin DCA, I just think it’s one of my routines, and once I missed it, it’s like a big portion of me is lacking also. So with that kind of mindset, I made grow my investment without taking a lot of risk, but only something that is only manageable for me. Bitcoin is my life and probably my future as well, that’s how trustable bitcoin is for me.

[Questat]

DCAing with bitcoin was really big a challenge for me when I was starting. The different negative perceptions made by people and the strong negative stance by the government made an impact to me, thus almost leading me to stop doing DCA. But when I start to realize that if I don’t take risk DCAing with bitcoin, then I won’t also benefit with the bright future of bitcoin. So I chose to stay positive and focus on my own goal, and avoid those people who are only giving negative vibes about bitcoin. At the end of the day, my money, my rules.

[laspol65]

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?

I faced more difficult problems than you while following the Bitcoin DCA method. I was doing well with my small family but my family members were against me, yet I did not give up. Because I was following the Bitcoin investment DCA method, I used to follow the Bitcoin DCA method with all the money I had except for my household expenses. Later, my family members started counting my money, what I was doing with the money and I said that I was investing in Bitcoin but they could not find the investment because they were ignorant about Bitcoin.
Then I tried to explain it to them in different ways but they did not understand, later I showed them a small digit of their investment but still they did not believe it, a kind of trouble arose. But finally after a few months of trouble, they were able to understand a little, and now I am following the DCA method regularly.

[Z_MBFM]

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?

I am always interested in talking about long-term holding of Bitcoin. And I am always very surprised when someone discusses long-term investment in Bitcoin. Investment is always much better according to DCA because although the profit is a little less than investing in one lump sum, the risk is much less. The possibility of a large loss is very low and since no matter how much Bitcoin goes down, it recovers again, I think that if you invest according to DCA, you do not have to face the issue of loss. And I always try to invest in all my virtual investments and physical investments by following the DCA method.

[Juicyhome]

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?

OP in your case, it's seems you have some money that you were feeding on when you lost your Job, or you have other source of income.  The reason why people find it hard to hold Bitcoin for long is because they don't have other means of income, it will really affect your Bitcoin investment, because there's no sense in holding while you are dying of hunger. You will definitely sell your profit to eat ,but when you have other sources of income it becomes easy to hold for long.

Sometimes it's Because of fear ,many withdraw their Bitcoin investment, no matter how Bitcoin dip don't panic. Because it's definitely going to rise again and hit  ATH, all you need in Bitcoin investment is just patient and understanding the working of Bitcoin, read more about it so you will understand it better. When you're knowledgeable about Bitcoin, you not listening to any negative comment about it, and you won't be quick to sell it.

[jems]

DCAing with bitcoin was really big a challenge for me when I was starting. The different negative perceptions made by people and the strong negative stance by the government made an impact to me, thus almost leading me to stop doing DCA. But when I start to realize that if I don’t take risk DCAing with bitcoin, then I won’t also benefit with the bright future of bitcoin. So I chose to stay positive and focus on my own goal, and avoid those people who are only giving negative vibes about bitcoin. At the end of the day, my money, my rules.

You're absolutely right.
We don't need to worry about negative comments out there, there will certainly be many people who don't share our views. So, what we need to do is stick to our initial plan.
The DCA method for accumulating Bitcoin has proven to be excellent for those of us planning long-term investments. I initially didn't expect to accumulate such a large amount of Bitcoin (in my opinion), but I've gradually achieved it and it hasn't disrupted my finances. So, I find it strange that some people still comment negatively on the DCA method for investing in Bitcoin.

[Zackz5000]

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.

The biggest challenge is needing the money for an emergency, like losing a job. It forces you to sell your stack when you don't want to. Staying employed with an emergency cash fund is key to holding long-term.

It is improper to go into Bitcoin investment with out knowing that the market is volatile, Bitcoin price is what that fluctuate it increases and also decrease i think what should cripple a strong mind is income to get started with because with out any means of making money it will be difficult to invest in Bitcoin because it is from your source of income that you can get your discretionary income to invest with from it you can also get your emergency fund so volatility shouldn't be the reason why one shouldn't continue with their Bitcoin investment because volatility is part of Bitcoin.

[tread93]

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?

investments?

There will always be the bitcoin haters and nay sayers.  If you have been DCA BTC dont stop! Keep stacking and accumulating. The sats stack up and eventually they will be worth much more!! Keep going m8

[red4slash]

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?

Good financial conditions and financial management make me feel that DCA is difficult to do because when we become too consumptive and wasteful, our financial management becomes irregular, and this makes the DCA that should be easy to do with my income turn into a disaster because of a lifestyle that is too consumptive and buying things that are not really needed.

Therefore, I now prefer to delegate control of our finances to my partner for daily expenses, while I allocate my income solely for investments (as I still engage in DCA), and this arrangement remains worthwhile for me. If I were to fully control the finances myself, I would always end up in disarray and unable to manage it properly. However, when my partner handles it, at least I can still exercise some selfcontrol.

[Ziskinberg]

If you don’t have sure knowledge about DCA with bitcoin, you will be easily influenced by the other people and eventually get you discourage from pursuing your goal with bitcoin. But if you have full commitment with bitcoin so you really want to take risk and stick to your goal, then you won’t be easily get distracted and ruin your established faith with bitcoin DCA.

This is the reason why we have to set funds only intended to invest into bitcoin, not those emergency funds but specifically those investment funds that are just reserved to consistently DCAing with bitcoin no matter what will be its market price as DCAing does allow you to buy irregardless of its current price.

[Sonia_123]

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?

My main challenge is not having enough fund to dca as expected I should every week instead I have to just rely on every 2 weeks, it make my Investment not to grow fast as I have always expected to be, though I have being trying on how to balance an extra job with my current job in other to have more income for myself, so that I can increase my dca into weekly increase my portfolio to meet up my stipulated target and more.