Topic: Buy the DIP, and HODL! - page 16. (Read 138474 times)

In as much as Bitcoin investment is concerned,it takes the strong hearted to invest in it,even when using the DCA method or otherwise because of the fear of the unknown about the market price and alot of risk involved in it ,when using DCA method, it helps you accumulate and manage your resources to constantly be in the market,since it does not have a fixed amount to buy, instead you buy what you can afford,DCA method remains the best method of accumulating if you choose to buy bit by bit no matter how little it might be,you keep growing.

There are many investors who are afraid to invest in the beginning, they are afraid to invest in Bitcoin due to market volatility, for them, investing in DCA on the one hand makes the investor confident and on the other hand they are able to learn more about Bitcoin. Because of which they increase the investing amount in the future. By doing DCA, an investor benefits in all areas. Some new investors may be encouraged to invest in other cryptocurrencies without increasing their Bitcoin investment because they do not have enough money. But if they plan to do DCA, they can only hold Bitcoin regularly. Applying this strategy, an opportunity will be created for long-term holding, which can make the investor profitable.

For those who are interested in lump sum investments, it can be difficult to hold Bitcoin for the long term. They may sell Bitcoin for a small profit, but those who plan for the long term by doing DCA can be a strong holder. Stress free investing can certainly give the investor many advantages in holding it for the long term.

It is quite fine and normal to engage with caution at the beginning of your involvement in Bitcoin until you're fully convinced that it's a good investment, I did it myself and learned over time of it's credibility. No one comes into Bitcoin as a newbie figuring it all out, but we get better in our knowledge of Bitcoin over time as we remain consistent.

The greatest error is to do nothing and just observe. You get nothing from doing nothing and you don't get better at something too if you aren't action mined. Potential investors who have discretionary income available, but refuse to get involved in Bitcoin end up in regrets as Bitcoin price heightens. The best thing is to start small and the more you learn and get convinced, the bigger your commitments to accumulating Bitcoin more aggressively until you acquire a decent stash of Bitcoin.

One technical side of Bitcoin holding is that patience alone is not enough for you to hold successfully on the longer run, because at the end of the day, a source of income and an emergency funds is even more important than been patience because you might be forced to sell at a loss or even prematurely so as to address a pressing financial needs or an emergency like health issues, though patience is important, but patience alone is not enough to hold successfully, a source of income and an emergency funds are very much key in your ability to hold without tempering with it in the future.

I would like to agree with your opinion. Because most people think that to invest in Bitcoin, they have to own a lot of money. In fact, this is not the case. Investing in Bitcoin is completely your own plan and personal desire. I know that the price of Bitcoin is very high, buying just one Bitcoin is nothing but a dream for the common man. But using the DCA method, anyone can buy some part of Bitcoin with a certain part of his monthly income, which will reach a good amount at the end of the year. I would like to tell you a little about how the common man can buy Bitcoin. Let's say that if a person's monthly income is 10 thousand, then if he invests only 2 thousand taka in Bitcoin from there, he will have 24 thousand taka at the end of the year. Again, if someone's monthly income is 20 thousand, if he deposits 4 thousand, he will have 36 thousand taka at the end of the year. In this way, everyone will invest according to their income ratio. Here, having a habit of regular investment is much more important than making big investments.

But you don't need to have the money to buy 1 bitcoin or half bitcoin before you can invest in bitcoin. No matter your financial level you can invest in bitcoin, if you have it in mind to invest in it. If you keep investing little by little over the years, before long you can have up to half of the bitcoin you couldn't afford at once. That's why it's always advisable to have a long time perspective when investing in bitcoin, so that if you keep accumulating gradually, before the end of your accumulation period, you must have accumulated a reasonable stash of bitcoin. Before you know it, you may have accumulated up to that 1 bitcoin or the half of the bitcoin you couldn't afford to buy at once. So you saying the poor can't afford bitcoin is wrong, anyone can afford bitcoin.

Buying Bitcoin in large amounts and also in small amounts is actually still not much different even though the amount is very different. But for investors who always target big profits in the long term through Bitcoin investment, of course they will use every method that they think is still comfortable enough which generally will not interfere with their own living conditions from day to day.

In addition, investors must also have a higher level of patience in maintaining the investment assets that they have purchased without having the thought of immediately releasing the assets when there is an increase in price or correction in the price of Bitcoin which might cause panic in their own minds. Because every investor must have the goal of buying more than selling, certain methods such as DCA can still be used to support their own plans.

You're right for the fact that One chooses to invest in bitcoin using the DCA method does not mean that he/she does not have enough money to buy in bulk, of course if it is your first time of investing in bitcoin you will always want to play safe because is your first time of investing so you will always want to go with the amount you can easily afford so that even when you experience lose in the market is not going to affect you in anyway. I'm pretty sure that anyone who's new in this crypto space will always want to do the same, you can decide to buy in bulk when you finally understand how the market works.

There is a distinction between DCA and buying the dip. DCA is a periodic purchase of Bitcoin in smaller quantities with the aim of accumulating a fairly bigger quantity on the long run. The goal is to accumulate a bigger stash in a slow and steady process.
While
Buying the dip is purchasing more quantities of BTC at a much lower price when you stumble upon it. Buying the dip is different from DCA, although your DCA accumulation can cut through the dip, but to properly take advantage of the dip and use that accumulation strategy called buying the dip, you'll need to use a bigger sum to buy more quantities of Bitcoin at that very low price otherwise referred to as a dip.

It is not entirely advisable for a newbie who haven't accumulated a decent stash of BTC to just buy the dip and stop there, As far as you've discretionary income available, you should plan to follow up the dip with purchases using DCA. Good thing you can also save up for another dip alongside your periodic accumulation. Continuing your accumulation journey gives you more benefits beyond just acquiring BTC. It surely helps in being able to manage your cashflow better.

I still have enough rest when I want because I didn't join cryptocurrency markets, but I joined Bitcoin investment and a Bitcoin investor need not be disturbed with market dynamics since his investments is for a long-term.

What markets are you talking advantage of? and what liquidation and manipulations are you afraid of? All these are plights of a trader, always on his toes guarding against a wrong and risky outcome and denying themselves sleep. Investors are never like that, our duty it's primarily to make available more discretionary income for our next purchase while remaining productive with our lives. Shitcoins and memecoins involvement would only bring you loses. If you want more value for your money on a relaxed mind, embrace Bitcoin accumulation now.

Quite agree with what you said that people who do not choose to invest with a lump sum are not because of the volatility of the bitcoin price, but it could be more about him choosing to play it safe and less stressed by doing DCA. It's like someone who is new to Bitcoin and only has basic knowledge, but he wants to jump into Bitcoin investment, he chooses to do DCA more to invest gradually either daily or weekly, it's like testing the waters before fully committing or involving his money completely in Bitcoin, and while seeing how his risk tolerance is on that.

Bro their is no point arguing over this here, looking at it logically, if a rich guy is as consistent in his accumulation as the poor, their is no way the poor is going to accumulate more stash of Bitcoin than the rich because their purchasing power is not on the  same level, and do not forget that the rich even have the financial leverage to even buy aggressively during a dip more than the poor, so tell me how the poor is going to accumulate more Bitcoin than a rich guy that is consistent and focus when accumulating, if you are talking about a rich guy that isn't consistent and isn't serious about it then it's understandable, but not when the rich guy is also as serious as the poor guy.

There is no way a poor bitcoin investor will accumulate more bitcoin more than the rich bitcoin investor the rich folk might decide to invest aggressively in such a way that it won't even affect his personal living or needs, he might also even choose to be using the lump sum strategy to accumulate at times and still continuously using the DCA strategy unless in a case where by the rich guy is just trading and not investing and the poor guy is continually using the DCA strategy and hold for long probably 10 years and more then I will agree with you if not such case I believe am still right about my word you bolded.

Since bitcoin investment is not a quick way to get rich soon, both the rich and the poor investors should have a long-term plan whenever they are investing in bitcoin so that they will be in a better position to get good profit from their bitcoin investment. I don't see anything insignificant if an investor is investing $10 weekly in bitcoin through the DCA strategy because bitcoin investment is best done when you invest in a way that it will not stop you from solving your daily expenses. If $10 is very much suitable for any investor to invest in bitcoin weekly, the investor should carry on with it because that is what the investor's discretionary income could possibly allow him or her to invest in bitcoin with at the moment. The best thing is to get started first with the little amount of money your discretionary income could allow you to invest with, but as time goes on, your income flow could increase, and you will be in a better position to increase your weekly accumulation money to a better one.

Buddy yea people decide to chose whatever strategy they are comfortable with but in all many people still prefer DCA method no doubt, I don't understand what you mean by lump sum being risky because of volatility, mate volatility is Bitcoin thing and I believe that an interested and a ready investor that understand the concept of Bitcoin will not want to buy with a lump sum amount just because of volatility I don't think you're right in this one, even though such person decide not but in lump sum does that stop volatility, volatility favour both upsurge and dip but that wouldn't deter anyone from buying in a lump sum if they have the lump sum amount ready at anytime.

If thats the case people would've not been considering buying in a lump sum since the aren't aware of what happens in the future in regards to volatility, buddy thats a no no bro, Bitcoin can not stop being volatile and as a matter of fact i think it's even the main reason it's what it has become today and anyone seeing such as being risky doesn't understand what Bitcoin investment is. Bitcoin has a good future, that shouldn't be doubted, at least with the recent events everyone should be certain about Bitcoin asset in the future so mate if you have a lump sum amount at anytime buy, don't be discouraged because of volatility because no matter what happens if you hodl for a long-term what we are experiencing now will happen again and if you endure for a longtime without shivering on the different market experience then you will benefit.

As for DCA method it's very efficient and less stressful method of investing in Bitcoin, it helps all category of investors to be part of Bitcoin investment, with this method you can invest with any amount but what matter is your consistency and steadily doing the needful to remain relevant in the said investment and hodl for a long-term.

I agree with you that the difference between the rich and the poor is the level of their discretion fund, but the aspect of saying that "the rich will accumulate more than the poor", is totally wrong. The rich having a more privilege of higher discretion does give them liberty to accumulate more than the poor. There are situation where the rich will have a higher discretion but his investment strategy is whimpy than the poor. Let say a rich person has a discretion amount of $50k and be investing $20 through DCA every week and a poor guy who has $3k in his discretion may be investing $50 per week and may still have a job that will be paying him $1k every month. So both has a big distance of discretion and may equally have a paying job but the investment capacity of both are not thesame in the sense that the poor even have more stake in his investment. So in this case the rich guy has an advantage in discretion but not able to invest in accordance with his fund, so invariably the poor guy will accumulate more than him in the space of time. So the impression I wan to correct is that being a rich guy and having a huge discretion doesn't mean such person must invest more than the poor. Investment in Bitcoin is done in a way we can invest comfortably without being affected and this is done individually and indepently without consedering class of rich and poor.

You are absolutely right Bitcoin investment is not just for the rich only but rather it is also for the poor but just as the name implies rich and poor, it is obvious that their capacity and capability will never be the same but the fact that the rich has money or has more advantage doesn't mean that the poor can not bit the rich in their investment if the rich doesn't take the right approach and doesn't know how to manage their investment. There are some rich people who doesn't know how to manage their finance and investment which sometimes they appears to be useless and random people but when we talk of poor we are not just taking about the third class only rather we are also talking about the second class which some of them can do even better than some rich people ( first class), investment is all about mindset and ambition and not just how rich one is.

For the poor a long-term plan should be in place to continue accumulating Bitcoin so that they can accumulate small amounts and build a decent portfolio. Poor investors find it much harder to accumulate each fraction than rich investors, so their strategies should be short quantity of bitcoin and long term. Weekly deposit of $10 would be $40 per month and $480 per year which is very insignificant. If he can implement a 10-year scheme or plan his holding size would be $4800 in principle and with that the profit could be much higher over time. If double or triple or more profits are added to your portfolio it can be very impressive. For long term DCA implementation it is recommended that you gradually increase the amount of backup funds. Considering the financial situation of the poor over a long period of 10 years it is easy to touch rich investors by making a single buying.

Bitcoin investment is not only for the rich both parties (rich/poor) can invest in bitcoin their difference lies in their discretionary income the rich will have a higher discretionary income more then the poor and this will make the Rich to accumulate more Bitcoin than then the poor but that doesn't mean the poor won't still be accumulating Bitcoin he will as long as he has a discretionary income to do so and with the DCA strategy the poor can still be accumulating Bitcoin gradually he may not be able to buy half of bitcoin as you have said but gradually with the DCA strategy he can be buying Bitcoin small small either weekly or monthly irrespective of bitcoin price and still continue to hodl bitcoin for long.

So bitcoin investment is for both rich and poor people the difference only lyies on their discretionary income.

Everyone is free to express themselves and they can start a new thread if they want to. Rather than wasting time discussing shitcoin in a thread that is dedicated to more specific discussions about bitcoin.

That's what I mean because the risks in bitcoin can be handled if one understands the journey and I think the risks can also be minimized using knowledge. Psychology and volatility may be related to one's ability in the investment journey and if Hold is the choice it will cancel out the concerns about both. It's simple we people understand and may not need to worry if the investment is done with the right knowledge.

I doubt that we will ever completely achieve perfection, so frequently, we have to just try the best that we can and hope that we are setting up systems and regularity in our buying in order to feel a sufficient amount of balance in our various cash balances that we may well maintain as we are trying to invest each week or so.

Sometimes I think about my own journey in light of how long it takes other guys to accumulate bitcoin, and surely my own advantage came from having had invested for around 20 years in various other investments when I came to bitcoin.

In the very beginning in late 2013, I did not completely know my exact BTC accumulation target, but I largely took money from some of my other investments in order to establish a 6-month budget, and the amount of my budget was beyond what I could have bought through my normal cashflows.. I tried to take the money for the 6-month budget from the part of my various aspects of my investment portfolio that I speculated would be the least disruptive but still give me the allowance that I wanted to have for the 6 months, and so it was like I found funds in order that I kind of had a lump sum amount that I was able to allocate the total, and then to divide that total by 26, so I knew pretty exactly how much my weekly budget was going to be for each of those upcoming 26 weeks, and so I tried to strategize within each week about when to buy the bitcoin, yet if I had not spent the whole authorized amount by the end of the week, then I just bought at whatever the BTC price was at that end of the week deadline. 

I continued to study bitcoin through those whole first six months, and so by the time it was getting close to the end of the 6 month period, I was trying to assess where I was at and where I though that I would be, and I still was not completely sure about what to do, yet I thought that my first six months of budgeting had worked out fairly reasonably, and so by the time that I got to late in my 4th month and/or early in my 5th month, I had already authorized another pretty much equal level of budget that I would apply for the subsequent 6 months, and so by the time I finished both of those budgets, I had spent a whole year investing into bitcoin with a weekly budget that was several times higher than what my total salary would have had been, and really I still was not exactly sure about what I was trying to achieve beyond the fact that I had authorized myself for a whole year to buy bitcoin and I had established myself with a budget for doing that, and so when the whole year was coming to a close, I had to reassess where I was at.. and whether I felt that I had invested enough into bitcoin or not.. especially since I had been investing at a rate that was purposefully above my usual income rate of investing.   At the end of 2014, I had largely concluded that I had reached right around 10% of my total quasi-liquid investment portfolio was in bitcoin, an I tentatively conclude that was going to be enough.

Part of my problem, and part of the reason that I ended up reaching overaccumulation was not even "on-purpose," since I did not even intend to overinvest into bitcoin, yet part of my problem was that at the end of 2014, BTC prices had been going down the whole period of my investment and through 2014, so largely by the time we got to the end of 2014, my BTC holdings were right around (perhaps slightly above) 50% in the negative (which were BTC prices around the upper $300s, but my costs per BTC were slightly less than $600 per BTC), and so even though I concluded that I had invested enough into bitcoin, I really could not resist continuing to buy bitcoin, because through out 2015 the BTC price bounced a lot between $200 and $300, yet it was mostly below $250 and probably more in the ballpark of $230 for most of the year, even though we can look back at the charts and see that it moved up and down within the range and even had a false start to $317-ish in July before correcting back down below $230-ish again...   

My cashflow somewhat sucked throughout the total of 2015, and people were telling me to sell some bitcoin, and I even had a business rental arrangement that I requested to defer paying the rent for two months, which was granted to me, and helped me with my cashflow... and surely there were periods that I could not buy bitcoin, even though the best BTC prices were during that time, and I think that what ended up happening is that I had increased my BTC stash by right around 25%-ish through the whole year (depending on how it is calculated in terms of my own determinations), and so in spite of my various assessments that I had feelings of financial struggles in 2015, I was still able to increase my BTC stash, yet when it came to the end of 2015 - maybe getting into September, I started to come to the conclusion that my overaccumulation level was right around 3.5%, since I looked at my various aims of where I wanted to be and then where I had gotten, and I largely concluded that my BTC accumulation target (and attempt at maintenance) should be 10%, so since I had accumulated more BTC throughout 2015 even while on a struggling budget, I concluded that 13.5% was a status of overaccumulation that justified my putting into place ways to sell small amounts of BTC on the way up and to try to employ a system that largely was ONLY selling small portions of the BTC profits, so overall the value of the BTC would continue to go up (and to compound upon itself) way more than any amount that I was selling as a form of downside insurance.

so I think that my main point about my being able to reach a status of overaccumulation of BTC within a relatively short period of time is because I largely front loaded my investment in terms of establishing and getting to my target within about a year, but then spending about another year (even though at an intended reduced rate) of continuing to accumulate bitocin and causing myself to assess my own bitcoin accumultation status to be in an overaccumulation status... and some of my plans were not completely intended but they were worked out based on ongoingly feeling that I was in an overly accumulation status yet at the same time ongoingly selling bitcoin on the way up so that something like 95% of the value continued to compound upon itself, right around 9 times between mid 2015 until present the BTC price doubled and doubled and doubled.. right around 9 times, which largely gets into the ballpark of 256x profits (compounding value).. yet at the same time my preference to call them 94x to 100x profits in terms of going by the use of a more simplified formula of a $1k buy price.

So many times I see guys struggling in their very first cycle, and I really believe that such struggle is not unusual, and there really cannot be any reasonable way to speed up the struggle without putting your whole BTC holdings and your practices into a risky kind of gambling status... so guys likely need to just continue to plug on buyng bitcoin for 1 or 2 cycles or more, and they likely will end up in a decently good position.. since they may well are not able to front load their investments from 20-years worth of other investments like I had at the time that I had gotten to bitcoin. 

Another thing is that I suggest that guys try to get in the ballpark of 5% to 25% into bitcoin whether it is their investment portfolio (to the extent they have other investments) or even just considering that they are investing 5% to 25% of their income into bitcoin (of course they also have to consider the extent to which those numbers are reasonable within their disposable income), and the main reason that I had accepted a 1% to 10% target for my bitcoin investment in 2014-ish (and mine ended up being on the aggressive end with 10%) seems to be that bitcoin's investment thesis was not as strong in 2013, 2014 and 2015 as compared to what it is today...and another things is that I never really cashed out of BTC in any kind of meaningful way, so I largely just continued to let my BTC investment ride, besides what I consider to be relatively small sales on the way up that I have been employing since late 2015.


I think that they are competing.. since people have to figure them out.. what are they can use, and most people don't even have lump sum available to them, so it becomes less practical to do lump sum for so many folks, even folks who have money.


You are full of shit, Agbamoni.. The mere fact that MSTR invests a lot of money does not mean that they are employing lump sum.  Since the beginning of November they have been investing every single week with whatever a mount of cash they have available and at whatever price.. sounds like DCA to me.

MSTR has been engaged in similar tactics since they got into bitcoin in August 2020.  They buy bitcoin with whatever cash they have available as it comes available and on a regular basis.. persistently consistently and ongongly.  Sounds like DCA to me, even if the amounts are sometimes big..
 

If a person has lump sum, then he has options to buy right away or to defer buying, so even DCA and lump sum can be described as almost the same thing, especially if someone might DCA as much as they can as soon as the money comes in, then  they may well be doing the same thing.  They are buying right away, they are not deferring their buys.

Of course, a person could have a lump sum come available to them, and they could spread their buys out over several weeks or even spread the buys out over several months.

These are discretionary considerations and many folks do not have those kinds of options and it might well not make sense for them to defer.. depending on their own situation and perhaps if they might be trying to manage their entrance into bitcoin over a period of time or not.
 

Hopefully persons are not investing 100% of their discretionary income, even though it is within their option to do so, but usually they are going to want to make sure that they have various kinds of cash left, but yeah, if a person invests 100% of his funds, then he might run the risk of miscalculating and actually needing some of the invested money for expenses or some other kinds of matter that he had not adequately accounted for.


Some of that may well be reasonable, and sure if someone has debt they may want to make sure that they are able to service the debt, but if they are establishing their bitcoin position, they might still want to make sure that they are buying bitcoin on a regular basis.... but yeah there can be folks who mismanage their debt, and they might need to pay some of that debt off prior to investing into bitcoin, yet I have frequently been hesitant to suggest that anyone should be waiting in regards to their bitcoin investment, and frequently they need to get started, even if they might have to invest small amounts while they are getting the rest of their financial matters together, including that many times an emergency fund might be able to be built simultaneously with investing into bitcoin and to get it up to 3 months at the same time of getting bitcoin investment up to 3 months. 

If a person is coming to bitcoin and they already have the debt mess than you mentioned, they may well not have to sort out their debt mess prior to getting started, even though they are going to likely be in a stronger position if they have their debt matters sorted out, and surely if they do not have a lot of discretionary income then they might not have any options, yet you are trying to proclaim that it is normal that guys have lump sums available to them, so surely they could figure out how to use portions of their lump sum to sort out aspects of their cashflow situation and they can also figure out the extent to which they are going to buy right way with parts of the lump sum or if they might employ DCA and buying on the dip with the lump sum... .and the more lump sum they have the more options they are going to have in regards to dealing with it.. and the more options they will have also if their cashflow management is already strong, yet they still might not want to or need to wait to sort out all their financial/psychological issues prior to getting started in their investing into bitcoin.

....If a person has a good understanding of investing then his next step in investing is to choose the right coin to invest in. In this case, in choosing the right coin, the investor should look at a few things such as the popularity of this coin, or how the condition of this coin was in the past, how is the current condition, and how many people are trading in this coin every day. An investor can invest his money in that particular coin only after considering all these things about how this coin can go ahead.

I think one of the best coins to invest in is Bitcoin and most investors currently prefer Bitcoin to invest.
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Fuck off with your nonsense recommendations to assess various coins and that bitcoin is one of the best coins.

First we are in a bitcoin thread, so take your dumbass shitcoin talking points to some other thread, even if we might assume you are giving good advice to even consider any other coin..

You probably don't even know what bitcoin is that is part of the reason that you believe that "choosing your coin" is one of the steps.

From where did you get that?  did you think of that dumbass advice yourself, or did you see that some other alleged "smart person" had made some similar recommendation in regards to "crytpo investing steps?"


Why would you have to wait to gather capital for a lump sum? If you have the lump sum you have it.  If you have a lump sum, then you have options to buy right away or maybe to defer your buys through DCA and/or buying on dips.


Black rock buys bitcoin to back up shares on behalf of clients, so that the shares are backed up.  MSTR dcas since it is buying all of the time, and they are not buying on behalf of clients... so your lumping them together as if they were doing similar things seems like you are just making shit up.

Sure your point about DCA being a practical approach makes sense, since a person can buy as the money comes available and determine his DCA amount within their weekly budget, whether weekly or some other period of time.


You make some decent points to suggest that guys can do what they like and that they also can mix and match strategies and even sometimes the thing that they are doing is similar no matter what they call it, yet your proclamation that buying on the dip is lump summing.. That is misleading, since if you are buying the dip, then whether you are buying a lot or buying a little that does not convert to lump sum buying merely because you are buying a lot.. you are still buying the dip, especially if you purposefully were saving a bunch of extra fiat for buying the dip, and so when the dip comes you buy. It does not turn into lump sum merely because you bought a lot.

On the other hand, let's say that you were buying bitcoin with a variety of strategies, maybe you had largely been buying between $100 to $500 per week, but some weeks you would skip and sometimes you would save your buys for buying on dips.  so after a couple of years you had invested around $25k into bitcoin, so you have accumulated a decent-size stash, and so you just continued with what you were doing with a similar level budget.  One day you were at work, and your boss told you how wonderful you were, and he said that he was going to promote you but also give you a $10k bonus.  You are so excited because you were not expecting such bonus, and really you knew that you could do whatever you want with the bonus, including buying bitcoin with it.  if the BTC price happened to be in a dip, you would probably still be lump sum buying with that bonus money, even if you just happened to receive the bonus during a dip.

You could also just decide to divide the $10k into 3 categories, and buy right away with $3,333, save another $3,333 for buying further dips if they come and then use the final $3,333 to DCA at $333.33 over the next 10 weeks.  Of course, you can do whatever you want, and apportion it however you like.. it's an extra $10k that was a surprise, so it was not like you needed it for any particular purpose prior to finding out that you were receiving it.



You may also want to keep a back up of your wallet, and you also might want to have instructions for heirs in the event of your death.  These are not easy questions or problems to solve, to the extent that you might either want to make sure you don't lose your seed words due to some kind of natural disaster (fire or something), and that you have some preference to passing your coins to heirs rather than dying with them.


Don't be retarded.  You can buy as much (or as little bitcoin as you want).  Perhaps you should think about bitcoin in terms of satoshis, rather than wrongly concluding that bitcoin cost more than shitcoins.  Poor people can buy bitcoin as much as they can invest into any thing else, and likely bitcoin is particularly aimed at benefiting the poor.. yet the main thing is having discretionary income in order to be able to invest for 4-10 years or longer.  Otherwise if the time is shorter, then it is trading/gambling rather than investing.  Poor people frequently have troubles in both having and/or maintaining discretionary income and being able to actually invest rather than to trade or gamble with a shorter than 4 year investment timeline.
We are talking about bitcoin in this thread so fuck crypto and shitcoins, and fuck trading also.. We are not talking about trading here either..  You did not even use the word bitcoin in your thread, which makes me wonder if you know what bitcoin is, and if you supposedly know what is bitcoin, then why are you talking about crypto? Do you thinking that bitcoin is the same? 

Maybe you think that you sound smarter if you use the word crypto, even though potentially you were talking about bitcoin, but then if you were talking about bitcoin, why didn't you just use the word bitcoin? 

Maybe you should re-write your post with the word bitcoin?  Does it help?  Are you able to clarify what you had intended to say?  Do you know what is bitcoin well enough to actually use the word bitcoin within your  post? 

If we are in a bitcoin thread and we also are not talking about trading, then does that affect what you say?