Topic: BTC Strategy (Read 812 times)
Well indeed if a strategy can bring profit then is ok, i think almost every people has own strategy and they choose it over more time because they need to test it, and also some learn from another.
It is certainly commendable that someone is trying because of his ability to help other people with regard to investments, but personally for me all such groups and communities often look like places in which, along with good advice, you can very easily get advice that will not benefit you. Therefore, I usually take very carefully to such proposals.
For me the strategy is very simple. Buy the coins when the market is going low. Hold the coins and wait for the bull run. When you see you can get a good profit, sell them, very easy.
I agree in what you have said and in addition to that purchasing coin when it's bear market is indeed a risk since we dont know when it will recover its price again and for me that's indeed a spirit. Since now, we are talking about the strategy, everyone will fall into different opinions since we do have different perspectives towards the current market today, and these days I often store my bitcoins and it can be possible only with a trusted exchange and recently I have discovered Darb, which allows me to deposit my assets to them and convert it with another assets and as well as performing a faster way of making transactions. 
Yes, like you suggest there is likely a quite a bit of a personality type going on here, but then we arrive at a question of nature versus nurture.
In that regard, I think that people can learn good practices.. a nurture question.
I get a lot of flack on this forum for my long posts, and maybe some members conclude that I am lecturing at them; however, I consider this forum to be an interactive brainstorming mechanism, so I participate in the forum in order to have back and forth exchanges of information and to learn from others and learn about myself.. so for example, writing a long post, might allow me to learn about myself, too and to tweak my practice and strategies in light of what I learn.
I actually grew up in a rural area with parents who were not wealthy nor college educated, and there was a bit of value in working your way through things and self-independence.
When I left home, I thought that I would not go to college; however, after I left college, and I was really struggling how to prepare myself for the future, very early on, I learned about creating a financial cushion and having enough funds to sustain your lifestyle, even if you get cut off for 6 months or longer. Of course, I took that to further and further extremes conceptually, which involved attempting to figure out how to keep costs down which increases the amount that can be invested.
Bitcoin offers some self-reliant savings and investment strategies that had not been available with traditional investments both in terms of cost but also in terms of 24/7 availability and not having to go through any kind of middle man. Anyhow, you can really go to town in the category of self-tailoring. One of the earliest things that i learned in basic finances is that if you do not have much, you have to really chip away to build and build and build. Prosperity does not tend to come quickly. You have to both pay off high interest rate debts but also take measures NOT to add them to your life. Debt is not totally bad, either, if you can get credit then you might want to use it, especially if you can get higher returns than the debt costs (without gambling). So even if you only have $500 worth of income per month, there are likely ways to shave down your expenses in such a way that you are able to stock away $100 per month.. and you should build up your various emergency funds, first before you start to make more risky investments - such as bitcoin.
There is definitely going to be more juggling when there is not a lot of funds to work with, and sometimes, there will be a need to increase the income side of the ledger in order to make meaningful investments into bitcoin - even if you are only able to invest $10 a week into bitcoin because you are building your emergency fund and covering your basic living expenses.
I do not have the source but according to a study I once read about 80% people that are currently rich are new rich, basically people that were poor or middle class and that created their wealth during their life and did not inherit it, and you will see they come very early to conclusions similar to your own conclusions despite the differences in their life experiences, in my case I learned about the importance of saving at a very early age since my parents thought it was important that I learned how to save money for the future.In that regard, I think that people can learn good practices.. a nurture question.
I get a lot of flack on this forum for my long posts, and maybe some members conclude that I am lecturing at them; however, I consider this forum to be an interactive brainstorming mechanism, so I participate in the forum in order to have back and forth exchanges of information and to learn from others and learn about myself.. so for example, writing a long post, might allow me to learn about myself, too and to tweak my practice and strategies in light of what I learn.
I actually grew up in a rural area with parents who were not wealthy nor college educated, and there was a bit of value in working your way through things and self-independence.
When I left home, I thought that I would not go to college; however, after I left college, and I was really struggling how to prepare myself for the future, very early on, I learned about creating a financial cushion and having enough funds to sustain your lifestyle, even if you get cut off for 6 months or longer. Of course, I took that to further and further extremes conceptually, which involved attempting to figure out how to keep costs down which increases the amount that can be invested.
Bitcoin offers some self-reliant savings and investment strategies that had not been available with traditional investments both in terms of cost but also in terms of 24/7 availability and not having to go through any kind of middle man. Anyhow, you can really go to town in the category of self-tailoring. One of the earliest things that i learned in basic finances is that if you do not have much, you have to really chip away to build and build and build. Prosperity does not tend to come quickly. You have to both pay off high interest rate debts but also take measures NOT to add them to your life. Debt is not totally bad, either, if you can get credit then you might want to use it, especially if you can get higher returns than the debt costs (without gambling). So even if you only have $500 worth of income per month, there are likely ways to shave down your expenses in such a way that you are able to stock away $100 per month.. and you should build up your various emergency funds, first before you start to make more risky investments - such as bitcoin.
There is definitely going to be more juggling when there is not a lot of funds to work with, and sometimes, there will be a need to increase the income side of the ledger in order to make meaningful investments into bitcoin - even if you are only able to invest $10 a week into bitcoin because you are building your emergency fund and covering your basic living expenses.
Fortunately for me I was smart enough to understand that what they were teaching me was important and I learned my lesson and when I found out that something like bitcoin existed I immediately decided it was what I was looking for, since in traditional investments you need a huge amount of capital just to get started and if you want access to the best opportunities you need to be a qualified investor and that is not easy to achieve at all.
The best and most safe way is to simply set aside, a set amount each month, buying during the good and the bad times. Dollar cost averaging is your friend.
Every month one should be investing in the coins which they think will grow in future and this will help us to build a portfolio for ourself and also the price would get averaged out as at times it would be less and at times may be higher etc .This could be a way for many people to o buy as not everyone can buy at one go .
It sounds like you are advocating an attempt to time the market, suzanne5223, when there is decent evidence that dollar cost averaging into bitcoin is likely to pay off a lot better than either playing around with timing of the price or even playing around with other coins (and I cannot tell if you are suggesting to play around with coins, other than btc).
In other words, continuing to accumulate BTC and to hold BTC is likely the best strategy, so long as you do not invest more than you need for ongoing expenses, including planning into the future and having some kind of emergency reserve fund.
Well that works if you plan a few years of holding the coins you've accumulated. And if you have the means to buy monthly of course. I still think it's best to gauge your timing. There will be months when it's better to just sit and wait. Flexibility is an important trait both for a good investor or a good trader.
Well, you can have an ongoing dollar cost averaging strategy and a buy on dips strategy.... depending on what state of accumulation that you are in... or if you are in more of a maintenance stage.
I first got into bitcoin in late 2013, and I had a goal to invest in bitcoin and to get my portfolio up to an aimed target that was a percentage of my total investments. Largely, it took me a year to accomplish that accumulation goal. Thereafter I continued to dollar cost average into BTC for at least the next year.
I don't have any problem with the idea of strategizing part of your BTC investment plan; however, you never know when the bottom is going to be in, and therefore, you could miss the boat if you are holding back with too much and waiting for a further dip.. such as some of those who are currently waiting for sub $3k that might or might not happen.
When the price has already dipped 80%, there is no reason to dick around with a lot of waiting.. even though it is prudent to hold some stash, just in case the price dips more.
On the other hand, in retrospect, we see that when the price went up to $19k, it would have been good to keep some fiat in reserves for buying - even though no one really knew exactly where the bottom of the correction was going to be that ended up being quite a bit lower than anticipated, so far.
Let's say if you have $300 per month extra, maybe 1/2 or 1/3 would be placed on dollar cost averaging, and the other portion saved for buying on dips... each person has to find a balance that is comfortable for them both to get a stake in the game and NOT to be gambling too much with the investment in order to have money left in case the price goes down. I also advocate shaving off small amounts on the way up, so there is a need for moderation there, too.. sell a bit but not too much.. You don't want to run out if the price shoots higher than expected.
The best and most safe way is to simply set aside, a set amount each month, buying during the good and the bad times. Dollar cost averaging is your friend.
Every month one should be investing in the coins which they think will grow in future and this will help us to build a portfolio for ourself and also the price would get averaged out as at times it would be less and at times may be higher etc .This could be a way for many people to o buy as not everyone can buy at one go .
It sounds like you are advocating an attempt to time the market, suzanne5223, when there is decent evidence that dollar cost averaging into bitcoin is likely to pay off a lot better than either playing around with timing of the price or even playing around with other coins (and I cannot tell if you are suggesting to play around with coins, other than btc).
In other words, continuing to accumulate BTC and to hold BTC is likely the best strategy, so long as you do not invest more than you need for ongoing expenses, including planning into the future and having some kind of emergency reserve fund.
Well that works if you plan a few years of holding the coins you've accumulated. And if you have the means to buy monthly of course. I still think it's best to gauge your timing. There will be months when it's better to just sit and wait. Flexibility is an important trait both for a good investor or a good trader.
The best and most safe way is to simply set aside, a set amount each month, buying during the good and the bad times. Dollar cost averaging is your friend.
Every month one should be investing in the coins which they think will grow in future and this will help us to build a portfolio for ourself and also the price would get averaged out as at times it would be less and at times may be higher etc .This could be a way for many people to o buy as not everyone can buy at one go .
It sounds like you are advocating an attempt to time the market, suzanne5223, when there is decent evidence that dollar cost averaging into bitcoin is likely to pay off a lot better than either playing around with timing of the price or even playing around with other coins (and I cannot tell if you are suggesting to play around with coins, other than btc).
In other words, continuing to accumulate BTC and to hold BTC is likely the best strategy, so long as you do not invest more than you need for ongoing expenses, including planning into the future and having some kind of emergency reserve fund.
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The best and most safe way is to simply set aside, a set amount each month, buying during the good and the bad times. Dollar cost averaging is your friend.
Every month one should be investing in the coins which they think will grow in future and this will help us to build a portfolio for ourself and also the price would get averaged out as at times it would be less and at times may be higher etc .This could be a way for many people to o buy as not everyone can buy at one go .
it is amazing to see young people or rich people to talk about 500 dollar income per month could be shaved down to 400 dollars in order to save 100 dollars.
Yes.. everyone is going to have differing experiences, and hopefully there is an ability to learn from the experiences of others in order to tailor your own approach to BTC, for example.
I used the above example of an income of $500 and $400 as hypotheticals, and I gave a context for such discussion. Every person is going to have differing circumstances, and in several of my other posts, I frequently assert that anyone getting into BTC or any other investment should strive to make sure his/her basic expenses and emergency expenses are covered first, and if debt is used for investing, such use of debt should be conservative rather than gambling.
it is amazing to even consider such a life I agree but when you make 500 dollars a month the topic is not to drop your expenses to 400, it is dropping them under 500 because most of the time life is so expensive that you spend all of your 500 and then some just to keep afloat.
The $500/$400 example that I used above is not necessarily saying that specifically it is going to work for someone every single situation - because the amount that anyone can drop his/her expenses or even improve his/her income will likely depend on some ability to get some basics, such as what is the cheapest rent of food and are there ways to cut on those expenses, even if temporarily.
I do not mean new phones and amazing items neither, I mean one chipped tooth could destroy your finance for months to come, just your phones screen breaking could destroy that month alone, needing new clothes because your old ones do not fit anymore is a big issue as well, there are ton of reasons why people can't save 100 dollars per month.
Yes... if you cannot save $100 then maybe you can save $10 or maybe you can save $1? You do what you can, and bitcoin is likely going to be able to improve your lot, especially if you can build a time preference of 3-5 years or more in terms of setting aside whatever you can.
Saying "just save some money aside" is a thing either a young kid would say or a rich person would say, no poor would actually agree with that.
Get the fuck out of here with your patronizing ass assumptions about young/rich people writing about poor people and cannot understand. You are both presuming too much and you seem to have been misreading what I said (perhaps on purpose?) and perhaps purposefully avoiding the points that I made with your lame-ass personal attacks that suggests that you seem to know better or that some poor person might know better.. merely because he/she is poor and disagrees.
I am saying that people who want to improve their lot should do what the fuck they can do, and if I agree that there might be circumstances in which some people cannot get enough income to cover all expenses, and they might be kind of fucked anyhow (as a poor person). Furthermore, I agree that there may be some people who are physically or mentally handicapped, which is going to limit what they are able to do, and they might be kind of fucked too, perhaps. My earlier post was not really directed at those situations to presume that every single person is able to get out of his/her circumstances with mere brainpower and effort, but instead I had been directing at more common situations in which people are able to attempt to learn to either cut their expenses or increase their income or both and to adapt their plans and strategies and to consider putting BTC into their plan (or adding it).
If you disagree (as a poor person) for the mere sake of disagreeing, and you cannot figure out ways to learn to either how to cut expenses or increase income (which might be impossible in some circumstances of physical or mental handicaps and things like that), but if you have the capability to learn and to improve, then you may be able to improve your lot by attempting those efforts too, and bitcoin is a means to improving the lot of poor people if such poor people are able to take some stake into it...and if such poor people have a decent enough time horizon of perhaps 3 years or more... 5 years, then a longer time horizon is going to increase the odds that the ongoing investment into bitcoin will pay off. I agree that there exist some people who do not have such longer time horizon because of mental of physical handicaps, and I was not writing about those situations - because bitcoin might not be a good thing for people in those circumstances.
it is amazing to see young people or rich people to talk about 500 dollar income per month could be shaved down to 400 dollars in order to save 100 dollars. it is amazing to even consider such a life I agree but when you make 500 dollars a month the topic is not to drop your expenses to 400, it is dropping them under 500 because most of the time life is so expensive that you spend all of your 500 and then some just to keep afloat.
I do not mean new phones and amazing items neither, I mean one chipped tooth could destroy your finance for months to come, just your phones screen breaking could destroy that month alone, needing new clothes because your old ones do not fit anymore is a big issue as well, there are ton of reasons why people can't save 100 dollars per month. Saying "just save some money aside" is a thing either a young kid would say or a rich person would say, no poor would actually agree with that.
I do not mean new phones and amazing items neither, I mean one chipped tooth could destroy your finance for months to come, just your phones screen breaking could destroy that month alone, needing new clothes because your old ones do not fit anymore is a big issue as well, there are ton of reasons why people can't save 100 dollars per month. Saying "just save some money aside" is a thing either a young kid would say or a rich person would say, no poor would actually agree with that.
In crypto platform no one is expected the right direction so BTC strategy is not work out in all the time. I always prefer the long term investment in Bitcoin because altcoin is the most profitable platform in current traffic.
I hope once recover in Bitcoin this will be a great chance to buy and sell at anytime.
I hope once recover in Bitcoin this will be a great chance to buy and sell at anytime.
you first said that btc strategy wont work but you then said that you prefer long term in bitcoin . long term is actually considered a strategy .
another one . you said bitcoin is for long term but you also said altcoin is the most profitable platform . bitcoin is actually the most profitable coin because it got the highest possible value that a crypto can get . altcoin do only have a small value so you cant earn big income on them .
most of all , your comment is verry confusing mate .
In crypto platform no one is expected the right direction so BTC strategy is not work out in all the time. I always prefer the long term investment in Bitcoin because altcoin is the most profitable platform in current traffic.
I hope once recover in Bitcoin this will be a great chance to buy and sell at anytime.
I hope once recover in Bitcoin this will be a great chance to buy and sell at anytime.
Set yourself a good doable (this part is very important) target and keep accumulating bitcoins. That's my strategy. If you set yourself an impossible target, you'll be exhausted and depressed and probably gonna make many mistakes during your journey.
The best and most safe way is to simply set aside, a set amount each month, buying during the good and the bad times. Dollar cost averaging is your friend.
Every month one should be investing in the coins which they think will grow in future and this will help us to build a portfolio for ourself and also the price would get averaged out as at times it would be less and at times may be higher etc .This could be a way for many people to o buy as not everyone can buy at one go .
I have almost nothing left to build strategies (
How could this be true? Are you trolling, here?
Unless you are dying or about to die, then you should be able to plan for the future, including planning your finances.
I have been planning my finances since I was a youth, but really only seriously after leaving home and having to support myself, which was when I was around 17/18 years old.
My practice has been to attempt to plan ahead and to have a financial cushion of several months, just in case things went wrong. Even though I learned this from my youth, my planning has gotten much better with the passage of time and with practice, and of course, if you are in the practice of planning ahead and including some kind of ongoing investment strategy within your financial plan, then you should be able to build the amount of funds that you have and are able to use with your investments.
Maybe you should explain where you are at? If you don't have a cashflow, then getting a cashflow might be priority number one that would then allow you to plan how much of your cashflow you are able to put into BTC.
I will agree that any cashflow, once you achieve it, must attempt to cover all basic living expenses and to have bit of an emergency cushion contained therein before it would be prudent to add investing BTC into the mix. Before I wax on further, V1ad99, please provide some more details regarding your situation and about why you are not able to BTC strategize, at this time.
Yes, like you suggest there is likely a quite a bit of a personality type going on here, but then we arrive at a question of nature versus nurture.
In that regard, I think that people can learn good practices.. a nurture question.
I get a lot of flack on this forum for my long posts, and maybe some members conclude that I am lecturing at them; however, I consider this forum to be an interactive brainstorming mechanism, so I participate in the forum in order to have back and forth exchanges of information and to learn from others and learn about myself.. so for example, writing a long post, might allow me to learn about myself, too and to tweak my practice and strategies in light of what I learn.
I actually grew up in a rural area with parents who were not wealthy nor college educated, and there was a bit of value in working your way through things and self-independence.
When I left home, I thought that I would not go to college; however, after I left college, and I was really struggling how to prepare myself for the future, very early on, I learned about creating a financial cushion and having enough funds to sustain your lifestyle, even if you get cut off for 6 months or longer. Of course, I took that to further and further extremes conceptually, which involved attempting to figure out how to keep costs down which increases the amount that can be invested.
Bitcoin offers some self-reliant savings and investment strategies that had not been available with traditional investments both in terms of cost but also in terms of 24/7 availability and not having to go through any kind of middle man. Anyhow, you can really go to town in the category of self-tailoring. One of the earliest things that i learned in basic finances is that if you do not have much, you have to really chip away to build and build and build. Prosperity does not tend to come quickly. You have to both pay off high interest rate debts but also take measures NOT to add them to your life. Debt is not totally bad, either, if you can get credit then you might want to use it, especially if you can get higher returns than the debt costs (without gambling). So even if you only have $500 worth of income per month, there are likely ways to shave down your expenses in such a way that you are able to stock away $100 per month.. and you should build up your various emergency funds, first before you start to make more risky investments - such as bitcoin.
There is definitely going to be more juggling when there is not a lot of funds to work with, and sometimes, there will be a need to increase the income side of the ledger in order to make meaningful investments into bitcoin - even if you are only able to invest $10 a week into bitcoin because you are building your emergency fund and covering your basic living expenses.
I have almost nothing left to build strategies (
How could this be true? Are you trolling, here?
Unless you are dying or about to die, then you should be able to plan for the future, including planning your finances.
I have been planning my finances since I was a youth, but really only seriously after leaving home and having to support myself, which was when I was around 17/18 years old.
My practice has been to attempt to plan ahead and to have a financial cushion of several months, just in case things went wrong. Even though I learned this from my youth, my planning has gotten much better with the passage of time and with practice, and of course, if you are in the practice of planning ahead and including some kind of ongoing investment strategy within your financial plan, then you should be able to build the amount of funds that you have and are able to use with your investments.
Maybe you should explain where you are at? If you don't have a cashflow, then getting a cashflow might be priority number one that would then allow you to plan how much of your cashflow you are able to put into BTC.
I will agree that any cashflow, once you achieve it, must attempt to cover all basic living expenses and to have bit of an emergency cushion contained therein before it would be prudent to add investing BTC into the mix. Before I wax on further, V1ad99, please provide some more details regarding your situation and about why you are not able to BTC strategize, at this time.
The best and most safe way is to simply set aside, a set amount each month, buying during the good and the bad times. Dollar cost averaging is your friend.
Every month one should be investing in the coins which they think will grow in future and this will help us to build a portfolio for ourself and also the price would get averaged out as at times it would be less and at times may be higher etc .This could be a way for many people to o buy as not everyone can buy at one go .
Invest and risk would be the best strategy. Buying bitcoin at low cost and wait for it to go up the sell.
I agreed with you on investing and taking risk alongside. In addiction, the investment on bitcoin should be on a long term system as we all know that going on a short term will not be profitable like the long term. I bought some coins long time ago and sell at a reasonable amount for profits, i love holding for a longer time.It only depends on the condition of the cryptos . both short and long term are profitable because coins can rise unexpectedly without a specific dates or time . some people like me prefer short term because i am lacking of patience . while some loves to hodl for a longer time span because they want to achieve their coins full potential .
Buy during the bad time and sell and the market is good is going to be more profitable.
It's very difficulty for the average person (heck even for those who have been here for a long time) to figure out what a good entry or exit point is, because it's not always as obvious as it is right now at current levels being a great entry point, or in 2017 during the peak where the market looked extremely bubbly being a great exit point.Or just keep buying the bitcoin whatever the prices are for every month until few years then see how much you made it actually later.
That's what I am doing right now. I allocate larger amounts to accumulate at current levels, and when it jumps over $6000 it will mark for me the moment to allocate way smaller chunks for accumulation purposes, because that's what I consider to be the safest way moving forward for me. It worked well for me during 2016 and the first few months of 2017. I stopped buying over $2000 because it didn't feel good, but hey, there was just no way for me to know that it would pump straight to $20,000 within the same year. I'm happy that I sticked to my plan, and will stick to it similarly right now.
The best and most safe way is to simply set aside, a set amount each month, buying during the good and the bad times. Dollar cost averaging is your friend.
Correct, here is a good thread to read for newbies: (https://bitcointalksearch.org/topic/buying-your-first-bitcoin-or-accumulating-towards-a-goal-5104555). the guy has a clear plan on how to have 1 BTC in lifetime. So he put up a detailed plan and follow it to the dot and now he shares everything and in only means that it can be done by anyone. You don't need to buy 1 BTC immediately, you can set aside every month funds to buy Bitcoin as a investment and in less than a year this dude save 1 full BTC, I hope it could inspire others to do if they wanted to really accumulate this year.
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