Conscious application when investing in cryptocurrency is very important even though you are trying as much to buy the dip. A lot of cryptocurrency traders are just buying blinding even when they have little fund to invest in cryptocurrency
As for this, I just want to make a correction, in other not to mislead newbies, stop addressing Bitcoin as cryptocurrency, so that newbies wouldn't get the wrong knowledge and think that Bitcoin is in the same category as shit coin.
Take a little deep breath dude
I am not here to argue with you because I would like you to do a little research before you create a misconcemptive portfolio that is not well structured. This would be an opinion not a fact from me because I believe acquiring knowledge is a continuous process.
If you disagree with me that
Bitcoin is far from being called
Cryptocurrency then I would like you to define Bitcoin and what it entails in isolation.
Fuck off with your nonsense Wakate. There is no reason for guys to have to defend the use of the term bitcoin to describe bitcoin, when it should be clear to anyone who has any kind of a clue about bitcoin that the use of the term crypto is ambiguous and misleading, and it doe not help clarify what the fuck you are talking about when you choose to use such term.
You think that you are smarter because you use such misleading term?
Sure technically bitcoin is amongst one of many crypto currencies, yet we should recognize that shitcoin pumpers (affinity scammers) and bitcoin naysayers are using vague and misleading terms such as cryptocurrency of crypto to confuse, mislead and perhaps imply that shitcoins are similar to bitcoin, when they are not.
We refer to shitcoins as anything that is not bitcoin as shitcoins, and they have the burden to show that they have any value, and sure everyone has a right to buy or trade in any shitcoin that he wants, yet it comes off as disingenuous when guys are popping into largely bitcoin threads and trying to confuse and or conflate the meaning of bitcoin in order to proclaim that it is the same as shitcoins, even though sure technically there is correctness that bitcoin fits into a category that could be referred to as cyrpto currencies.
You don't have to delude us here because their are many reasons why Bitcoin is called cryptocurrency;
There is no reason to be being vague about what the fuck you are talking about, and if you are talking about bitcoin why don't
you say it? If you want to talk about bitcoin and shitcoins or you have some reason to proclaim that you are not just talking about bitcoin, then there is nothing wrong with that as long as you are clear about what you are talking a out... and even why is it relevant?
Is there some kind of point that you are wanting to make about shitcoins?
Do you think that there is an investment that is "cryptocurrencies".?
That would be absolutely retarded if you invested in some kind of a fund that deals with "cryptocurrencies" without knowing what it is composed of and/or maybe how much bitcoin is in it. .. and even if any of us buy derivative products that supposedly involve bitcoin, we likely need to account for that the product that we are buying might give us price exposure to bitcoin, yet it may well not allow us to redeem it for bitcoin, so it would be different from owning actual bitcoin.
There may well be guys who buy bitcoin and various shitcoins and they hold them on exchanges, which might be o.k. up to a point, yet it has problems in regards, that they are not necessarily owning actual bitcoin, even if they have claims on bitcoin and such company may or may not have as many bitcoin as they claim to have had sold exposure to.
It make use of sophisticated mathematical computation that can be described as cryptography.
So fucking what. The mere fact that bitcoin uses cryptography does not justify using vague ass terms to talk about it, since you are likely to mislead people in terms of their not knowing what you are talking about, or maybe they will imagine that they believe what you are talking about to be something other than what you were talking about since you were purposefully using a vague term and trying to act like you are smarter than everyone else because you use the term crypto rather than bitcoin to refer to bitcoin because you happen to know that bitcoin is much more than merely bitcoin it also has some cryptographic blah blah blah that makes it fit within a higher category so you are so fucking smart to know such things.
But you are such retard and potentially a deceptive twat in terms of your not recognizing and appreciating that it is better to be more specific in your language, even if you happen to be the smartest person that any of us might have our pleasures to encounter.
Bitcoin uses cryptography to carry out transactions and was emulated by altcoins projects that tend to make money from the crypto space by enriching themselves.
And so how does your knowledge of that fact happen to help it to be clear about what the fuck you are talking about?
Are you talking about bitcoin or some shitcoin?
And if you are talking about bitcoin and some shitcoins, then there might potentially be some relevance to whatever point you are making, but instead you just seem to want to argue about some academic point in order to show how much smarter you are than the rest of us, since you recognize bitcoin to have some potentially quasi-relevant features that are arguably cause it to be similar to various shitcoins.. and for some reason, you consider that to be relevant in terms of whether some of us might choose to buy or sell bitcoin or whether we might allocate to bitcoin as compared with some shitcoins? So maybe we don't have to bother ourselves in regards to which shitcoin we choose, since many of them seem to use some variation of cryptography, to the extent that means anything, so we can just categorize them all as the same and then act like we know what the fuck we are doing because we recognized some mostly irrelevant point, and so then we are back to the fact that our use of the term cryptocurrency to refer to bitcoin without specifying what the fuck we are talking about is vague, misleading, deceptive, and probably mostly irrelevant since it is not really telling us anything important in regards to what differentiates bitcoin from varius shitcoins, to the extent that any of the shitcoins are relevant anyhow in terms of what we might be discussing.
Is it because newbies could get confused about what Bitcoin entails and that gave you a solid reason why you choose to called Bitcoin non crypto? Bring your facts dude LoL!
You are the one who as the burden to bring both your facts and your logic.. otherwise you are purposefully trying to mislead people and to argue that there is some burden on bitcoin to prove itself, when the burden is on shitcoins to prove themselves in terms of both facts and logic.. so there is a burden of production that relates to facts and a burden of persuasion, and you seem to be the one who has the burden rather than guys who are merely proclaiming that there is a need to be clear in your attempts to discuss these matters, including your ongoing insistence that anyone has any fucking clue what you are talking about when you are throwing around vague, misleading and deceptive terms like crypto currency.
What the fuck is that? Sounds pretty vague, and you have not even been very persuasive in your proclamation that guys have to describe bitcoin. There is no need to do that, even though you seem to be disengenuinely engaged in arguments striving to proclaim that you are correct to use a vague, misleading and deceptive word like crypto to describe bitcoin and at the same time wanting to shift the burdens so that guys have to prove you to be wrong when what you are saying comes off as pretty close to a retarded person trying to act like they are smarter than everyone else when it comes to the use of words. Perhaps showing something like the Dunning-Kruger effect.
I think you can go read books like to clarify your misconcemptive move;
I doubt any guys need to read books in order to become dumb like you.
The Standard of Bitcoin by Saifedean Ammous
Bitcoin and Cryptocurrency Technologies by Arvind Yarayanan
Your quoting those books is not helping to improve your dumbness in regard to how you might choose to use language in clear and less misleading ways. There is no need for guys to read either or both of those books in order to appreciate that your suggestion that it is good to use vague, misleading and deceptive terms like cryptocurrency is helping to clarify what you might be talking about, when you choose to use such nonsense term and not being clear about what you are referring to whether bitcoin, bitcoin and shitcoins or shitcoins or something else.
I really don't sees it as a bad practice withdrawing some profit from your Bitcoin investment, if you have gotten to that over accumulation status, where the problem lies is selling everything off and becomes a no coiner all of a sudden, that's where the problem lies if you ask me, because at some point, we have to enjoy the fruit of our labour.
What I find problematic is the stipulated timeframe you intend holding, holding just for two circles doesn't seems like long to me because if you can attain that height of over accumulation status during that timeframe, you need to hold for one or two more circle for your Bitcoin investment to give you the best possible result you envision before starting, so in essence of what am trying to say is that 8 years is too small to be term as long term.
There's absolutely nothing wrong with withdrawing some profits out of your bitcoin investment. Nothing is wrong with it besides we're humans and not robots and we have our needs and emergencies sometimes which supersedes our investment plans.
If you have reached your accumulation goals and perhaps you feel you have done enough buying and holding over the years and probably you have reached a point in life where you no longer work actively to earn from other means, then you can begin to think about taking out so of your bitcoin to sort out your needs after all there is a saying that "the money you save today will save you tomorrow". However, you must be careful not to justify reckless withdrawal of your bitcoin else you will run out of bitcoin in the near future. JJG made a very interesting thread
JJG's Bitcoin Investment Ideas (Sustainable Withdrawal / Portfolio Maintenance) to help with minor details that will make the withdrawal process and not harm your portfolio.
As you mention adultcrypto, surely part of the rationale for my own framing of sustainable withdrawal is to help to suggest that guys are not going to be selling too much of their bitcoin too soon, and so I had been attempting to describe price based sustainable withdrawal and also time based sustainable withdrawal. Both of them attempt to present ways in which guys can attempt to ongoingly withdraw within certain kinds of conditions and hopefully without ever selling so much bitcoin that they fall out of overaccumulation status... So yeah, there are surely guys who end up accumulating bitcoin for year and years and years, and then they end up selling way too much too soon, and they fall into a kind of trading, rather than investing, kind of an approach to how they end up managing their bitcoin stash.
To me, it seems way more powerful for guys to figure out ways to mostly hang onto their bitcoin, even if they might start to engage in either of the two kinds of sustainable withdrawal.. yet at the same time, there can ber challenges for guys to valuate their bitcoin holdings in order to adequately assess if their bitcoin holdings have gotten to over accumulation status. So many guys get caught up upon short term valuations based on BTC spot prices, yet spot prices vary so much that many guys may mistakenly conclude that they had reached overaccumulation status, but then their focus on the spot price ended up causing them to make mistakes regarding their BTC valuation, which is not very stable, which is part of the reason that I so much enjoy valuating based on bottom prices (such as the 200-WMA) rather than spot prices, even though we can also attempt to account for both, too, in regards to how we might attempt to manage our BTC holdings, even if we are still accumulating bitcoin to get to a target amount and/or our considerations regarding what to do after we have assessed that we had gotten to a target amount that we consider to be enough and/or more than enough bitcoin.
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I am really picking some important point in what you have said, especially about the long term impact of small, consistent investments. It is easy for people to overlook just how powerful that slow build up can become over time, particularly when paired with the asymmetric upside Bitcoin offers......What really stood out to me as well is the mention of the psychological battle of feeling like small contributions don not move the needle, especially when volatility kicks in. That is where mindset becomes key....... also If someone is able to shift focus from short term price action to long term accumulation, even modest weekly inputs can lead to serious financial transformation over a decade or more.
And yes, while discipline and financial habits might be harder to come by in lower income environments, Bitcoin can serve as a kind of financial education in itself. It forces people to think differently about money, time, and security and even if just a few manage to internalize those lessons, the impact on their future could be massive....
I am not suggesting that by nature poor people are less disciplined, even though I am suggesting that they have more obstacles if they are not able to figure out ways to increase their discretionary income and to build up both their bitcoin investment and their cashflow management skills and practices.
Maybe a poor person works himself up from having no discretionary income and even being in debt, but then after a month or two he has gotten to a place where he has $5 to $50 of discretionary income each week, and then maybe after another month or two he has $100 discretionary income per week, and so he keeps building and building and building. So then he can see progress, yet maybe after 10 years of investing into bitcoin and also building up his discretionary income and his cashflow manage systems/practices, maybe after 10 years he gets to a similar place that another less poor guy might have already started out in a similar place 10 years earlier without even trying and based on his having had been born into better finances and better social and family networks that caused him to get access to better beginner jobs (and perhaps education too).
Yet, sure, part of the point is that we have to work with what we got, and some guys are going to just have to work harder and be more organized just to perhaps end up getting to a place that a less poor person had been 10-15 years earlier merely based on starting out with better circumstances.
I believe that people can still work themselves out of bad circumstances, yet I am not going to proclaim that the world is fair since there likely are some obstacles that can be quite overwhelming for some guys. .. yet if they don't try to work themselves into a better situation and/or even learn about bitcoin and put bitcoin and cashflow management systems into practice, then they may well not have as many chances to dig themselves out of their already starting bad situation.
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It's very interesting to consider the potential power of long-term investing, even with amounts. The example you gave pointed out that if one consistently invest, there is every possibility that investment in Bitcoin will significant grow massively.
I am not saying that there are any guarantees, even though I am saying that a guy's persistence in buying may well put him in a much better place with more options as compared with if he had not bought bitcoin, so even if he might not be able to quit his job and live off his bitcoin, he may well be able to get to a place in which his investment in bitcoin has ended up giving him more options.
You also said about the importance of being discipline and having the ability in managing and securing investment. Even though it will be challenging for most people, especially those from poor background, they will find it hard to have or emulate these skills you highlighted above, but with determination, discipline, patience and also, if they are willing to learn, it will be possible for them to achieve these skills with time.
Part of the temptation for poor people may well be that they might see their bitcoin investment double or triple or even be much higher within a few years, and then they may end up wanting to cash out of some of that, which may end up really screwing themselves out of some future options to really have built up their wealth, so a poor person with $3k invested and $7k in profits, may well be tempted to cash out 1/2 or 3/4 of his investment after 5-7 years investing, and then he might never be able to get back to that status again, yet if he had kept investing for another 5-7 years more than he might have had invested $7k, but then maybe his investment might have had been able to get up to $40k in value, and he would have had been in a way better position if he had not been tempted to cash out way too much of his investment too early. There are a lot of variations, yet it can be quite tempting for poor people to tap into their investment too soon, which contributes to their never being able to get out of their poor person status due to such mistakes.
It's important to know or have the understanding of Bitcoin or other investment, the financial benefits or security and stability it provides, if only they know what they are doing.
Well they have to find balance from themselves too in order to make sure that they are not putting themselves into situations where they feel that they need to dip into their investment, so guys can end up being their own worst enemy whether they want to buy a piece of land or a house or maybe a nice car or some other items that might end up undermining their bitcoin investment becuause they lose patience and they lose their abilities to defer gratification and they lose their bitcoin focus.
And the crazy part? DCA works even when you don’t time the bottom… Like, you could literally buy while Bitcoin is dropping, and as long as you stay consistent over time, you still be profitable off it… That’s what people don’t get. You’re playing the long game, and the long game always wins in Bitcoin investment...
Most of the OGs you see sitting on bags of Bitcoin did not trade their way there, they just kept buying regularly, ignored the noise, and waited. Simple as that….
The crazy part if we are buying bitcoin for 4-10 years and even longer, we could end up buying at the top and at the ATH several times and still end up in profits over the long term with each of the purchases and/or with the overall average purchases, and we have no way to know if we are buying at the top, so we should not be thinking about those kinds of matters if we keep on accumulating bitcoin on a regular basis, as you mentioned.
Another crazy part of the history is, if everyone will remember James Howells, the man who have lost $8k Bitcoin when he accidentally throw the hard drive with the keys in it in a landfill in 2013. He has spend more than 10 years now trying to fight it out to be able to scan the landfill with his hard drive. Just imagine if he invested in let say in 2015 instead of using that money to look into the land fill and now trying to buy it, he could easily be getting his money back already or even profited more than what he lost.
I am not sure if that Jame Howells example is a good one, yet over the years there have been guys who think that they are too late to bitcoin and they do not act, and there are other guys who lose their earlier coins or they sell them, and then they do not buy back, so surely there have been guys going back to 2015 who could have had embarked upon some kind of a reasonable DCA strategy that would have had put them into a good financial position, so frequently there are needs for guys to make sure that they are buying bitcoin even if they might be engaged in other activities at the same time... but yeah even guys with relatively modest investment activities, if they had started something like mid 2015... - let's say 8 years ago at $100 per week, they would have had invested $52k by now, yet they would have also accumulated nearly 23 BTC, so surely that would be a really good place to be for someone who had merely been investing at $100 per week for the past 8 years.
