DCA: the power of little beginning - page 4.

pawanjain

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Quote from: Obim34 on March 09, 2024, 05:04:19 AM

Quote from: pawanjain on March 07, 2024, 11:56:04 AM

Quote from: Moreno233 on March 04, 2024, 06:40:16 PM

I have come to understand and appreciate the saying that "little drops of water make a mighty ocean", the DCA method of buying Bitcoin brought me to that understanding. I have had this poor mindset of making huge profits from trading thereafter, invest part of it into Bitcoin holding as a hedge to my trading. This mindset have held me moving round the same cycle of profits and losses for over two years with no progress despite the pains and psychological torture that comes with losing streak in trading. Little did I know that buying little by little would have made me achieve even bigger results than I was targeting through trading. It was when I started being active in this forum I noticed that there is something called Dollar Cost Averaging (DCA) that enable someone buy Bitcoin even with small amount of money on a regular basis. I embraced it and it has changed my life!

Today I am a proud Bitcoin investor, with a portfolio that I can call an achievement even though it may not be something too big for some people. I am not making this post because of Bitcoin is rising in price, my focus is on the quantity of Bitcoin and not necessarily the dollar value. Besides, the DCA method has molded me to appreciate bear markets because that is the opportunity to collect more Bitcoin at lower prices.

I am sure there are many people with similar thing to say about the DCA method because I have engaged in many discussions where a good number of forum users confirmed to be using the DCA method, so I expect they will also be proud of what they have achieved through it.

To those who really helped in sharing their wealth of knowledge free of charge in this forum like @JayJuanGee, @Wind_FURY, @tranthidung and many others, you are all highly appreciated.

It is good that you have purchased your coins using DCA which is by far the simplest yet effective strategy to accumulate bitcoins over a long term.
It is a proven technique to earn profits over the long term and Microstrategy is the best example for it.
They have been buying bitcoin at regular intervals and has accumulated a lot over time.
Fortunately I have been able to accumulate using the same strategy and hold a decent amount of BTC now.

The DCA strategy is absolute unique, being applied with no chances of affecting one's cost of living. Much is not expected to be wholesomely invested, it goes with little fractions that later on builds into bigger portion of what becomes in our portfolio. Maybe not just the DCA alone I have also learnt a few other strategies that can aswell be compiled with the DCA method to achieve greater results.

You know what, I have been DCAing bitcoin as well as stocks from last 3-4 years and it has been of a decent size now.
To be honest, you won't recognize it's effectiveness until a few years and then one day you will suddenly realize that the total amount has become significant.
The effectiveness of DCAing is that it compounds over time and the power of compounding becomes huge.

dothebeats

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This is what other people have been missing the whole time. Most are focused on the dollar value and the huge profits while ignoring that little trickles make a huge pond in the end. I've been DCAing since 2016 and it has been the best decision ever, as it made my life a little comfortable and a little better than it was before. Sure, I may not be having millions of $, but I was able to save a considerable sum of money and have investments that appreciates in value without me tending to it. It's a long road, but it pays off eventually.

blckhawk

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Quote from: lovesmayfamilis on March 07, 2024, 07:42:52 AM

DCA can actually be used anywhere. The principle is so simple, and some people use it without even knowing the definition of the entire abbreviation. Leave 10 percent of your regular earnings. The American dream of becoming a millionaire and having a million also meant saving a few percent of any profits. Knowing about Bitcoin today, anyone who can earn their income and limit themselves to some part for holding can become an investor. There were many surveys on the topic: if your salary is enough for you, then can you live without one of its ten parts? Many of the responses were positive. All that remains is to make the right and necessary decisions.

The problem with some people that do DCA is that they're not improving in terms of how much they're investing, if you're doing DCA of about 100 USD a month, it's not going to make you a millionaire anytime soon, probably the best thing that you can do is to try and increase what you're adding in your hoard by increasing the amount of money that you're putting in, just make it 105 USD next month and you're good to go, make the improvement consistent which woulf mean that you're also going to be improving your career or else, you're not going to be sustaining that growth that you're putting in your DCA.

I don't know about the American dream though, it's been a talk for so long now, I don't even know if that's a true thing, maybe it will only happen when you're asleep or something like that, no poverty present if the American Dream is real if you feel me.

Crypto Library

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The proverb you have mentionedy to y ::)our topic it is the main power of investing on bitcoin with DCA method. DCA Method investing in Bitcoin is the best for all kinds of invest for whale to small newbies Investor. I have seen many users who were holdings and get in proved before the starting bull leave and Now it seems my current fund price is over the 2x. So I wont gonna say anything about how it could be positive but I think investing special on bitcoin make. I would like to say that anything you are just buy bitcoin what you can afford like it can be a regular investment on weekil or monthh9.

Dunamisx

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If what its going to require from us to at least have a beginning in making investment in bitcoin is to start by the pattern of DCA, then its fine and good and we should not got ourselves discouraged in that because it is more better starting such way than doing nothing at all, many people already have procrastinated their investment from years back to this present days and never concluded on making determination to invest and stop the procrastination they have been used to over time.

Helena Yu

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Quote from: cryptoWODL on March 09, 2024, 08:44:11 AM

Investing in DCA method seems to me to be a simple and recommended strategy. There are many of us who cannot afford to buy a large amount of bitcoins at once but buy bitcoins in fractions through this method. Those of us who invest in the Dollar Cost Averaging method have a specific goal in mind which is to invest in Bitcoin with whatever money we have left over excluding our necessary expenses, be it monthly or weekly. There are many investors or members who regularly invest in DCA method. By investing in this way we can grow our investment portfolio if we do it patiently for a long period of time.

Even you have a lot money, it's still recommendable to buy Bitcoin using DCA strategy because not all people can able to take risk to buy at once. The goal of Bitcoin investment is long term, to make you able to retire early, not for increasing your life style.

You can use Bitcoin for trading, but it's gonna take your time to check the chart for everyday or even every hour, so it's kind of time wasting.

cryptoWODL

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Quote from: Obim34 on March 09, 2024, 05:04:19 AM

The DCA strategy is absolute unique, being applied with no chances of affecting one's cost of living. Much is not expected to be wholesomely invested, it goes with little fractions that later on builds into bigger portion of what becomes in our portfolio. Maybe not just the DCA alone I have also learnt a few other strategies that can aswell be compiled with the DCA method to achieve greater results.

Investing in DCA method seems to me to be a simple and recommended strategy. There are many of us who cannot afford to buy a large amount of bitcoins at once but buy bitcoins in fractions through this method. Those of us who invest in the Dollar Cost Averaging method have a specific goal in mind which is to invest in Bitcoin with whatever money we have left over excluding our necessary expenses, be it monthly or weekly. There are many investors or members who regularly invest in DCA method. By investing in this way we can grow our investment portfolio if we do it patiently for a long period of time.

Obim34

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Quote from: pawanjain on March 07, 2024, 11:56:04 AM

Quote from: Moreno233 on March 04, 2024, 06:40:16 PM

I have come to understand and appreciate the saying that "little drops of water make a mighty ocean", the DCA method of buying Bitcoin brought me to that understanding. I have had this poor mindset of making huge profits from trading thereafter, invest part of it into Bitcoin holding as a hedge to my trading. This mindset have held me moving round the same cycle of profits and losses for over two years with no progress despite the pains and psychological torture that comes with losing streak in trading. Little did I know that buying little by little would have made me achieve even bigger results than I was targeting through trading. It was when I started being active in this forum I noticed that there is something called Dollar Cost Averaging (DCA) that enable someone buy Bitcoin even with small amount of money on a regular basis. I embraced it and it has changed my life!

Today I am a proud Bitcoin investor, with a portfolio that I can call an achievement even though it may not be something too big for some people. I am not making this post because of Bitcoin is rising in price, my focus is on the quantity of Bitcoin and not necessarily the dollar value. Besides, the DCA method has molded me to appreciate bear markets because that is the opportunity to collect more Bitcoin at lower prices.

I am sure there are many people with similar thing to say about the DCA method because I have engaged in many discussions where a good number of forum users confirmed to be using the DCA method, so I expect they will also be proud of what they have achieved through it.

To those who really helped in sharing their wealth of knowledge free of charge in this forum like @JayJuanGee, @Wind_FURY, @tranthidung and many others, you are all highly appreciated.

It is good that you have purchased your coins using DCA which is by far the simplest yet effective strategy to accumulate bitcoins over a long term.
It is a proven technique to earn profits over the long term and Microstrategy is the best example for it.
They have been buying bitcoin at regular intervals and has accumulated a lot over time.
Fortunately I have been able to accumulate using the same strategy and hold a decent amount of BTC now.

The DCA strategy is absolute unique, being applied with no chances of affecting one's cost of living. Much is not expected to be wholesomely invested, it goes with little fractions that later on builds into bigger portion of what becomes in our portfolio. Maybe not just the DCA alone I have also learnt a few other strategies that can aswell be compiled with the DCA method to achieve greater results.

CryptopreneurBrainboss

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Quote from: ObscurePen on March 05, 2024, 09:33:32 PM

There have been so many new threads made about this DCA method. Everyone is making such a big deal about a very simple rule of investing. Everyone should really just search up if what they are posting about has been posted before. These articles I got from simply searching up "DCA bitcointalk" on Google.

I don't mind people making a big deal out of it, it mustn't be a big deal to you because you already know of the strategy but for those just discovering how effective the strategy is, it'll mean a big deal to them. I don't mind people reminding others of the strategy every now and then because alot of investors are still thinking other strategies are the best investment strategy meanwhile it's DCA. Both the whales uses this strategy and it isn't a coincidence.

It doesn't matter if you have the money or not to buy Bitcoin one time, don't do it but DCA and see how better this strategy is. Every thread is different from the other and when things are exactly the same, the contributions won't be the same. How do people learn when there's no thread for them to contribute to. When a thread isn't spamming I don't mind seeing them get repeated often. We have different people on the forum and our thoughts are different and we adding our own little knowledge to the topic of discussion adds more wisdoms for those reading the thread.

There isn't much to be discussing on Bitcoin as our discussion is cycle around the bear and bull market. When we see topics that aren't written with the intention of spamming the forum we shouldn't discourage them, but encouraged them to do better.

dzungmobile

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Quote from: 0t3p0t on March 07, 2024, 08:02:22 AM

Trading is very risky for me and it gives me a lot of stress because I am not having enough knowledge about it though I only knew a few but still needs more of it that is why I only earn and hodl with the use of dollar cost averaging technique as it does not need so much time and effort to gain profit compared to trading. Why I switched into DCA is also because I want my Bitcoin holdings I mean the quantity to go up because I wanted it to reach 1 BTC that is my target.

This is your good strategic change from trading to investing.

Trading is one of best way to, sorry but not to help you to increase your capital, indeed to lose your capital and lose your bitcoin.

Investing, in contrast, can help you to increase your portfolio value, that is ultimate goal of your investment. And if possible, if you are experienced enough, can increase your bitcoin too but this is not most important. So holding is enough to succeed in investment but with a big if, you must hold your bitcoin in your own non custodial wallet.

With investment, DCA is a good strategy to accumulate bitcoins with time, without stress.

pawanjain

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Nothing lasts forever

Quote from: Moreno233 on March 04, 2024, 06:40:16 PM

I have come to understand and appreciate the saying that "little drops of water make a mighty ocean", the DCA method of buying Bitcoin brought me to that understanding. I have had this poor mindset of making huge profits from trading thereafter, invest part of it into Bitcoin holding as a hedge to my trading. This mindset have held me moving round the same cycle of profits and losses for over two years with no progress despite the pains and psychological torture that comes with losing streak in trading. Little did I know that buying little by little would have made me achieve even bigger results than I was targeting through trading. It was when I started being active in this forum I noticed that there is something called Dollar Cost Averaging (DCA) that enable someone buy Bitcoin even with small amount of money on a regular basis. I embraced it and it has changed my life!

Today I am a proud Bitcoin investor, with a portfolio that I can call an achievement even though it may not be something too big for some people. I am not making this post because of Bitcoin is rising in price, my focus is on the quantity of Bitcoin and not necessarily the dollar value. Besides, the DCA method has molded me to appreciate bear markets because that is the opportunity to collect more Bitcoin at lower prices.

I am sure there are many people with similar thing to say about the DCA method because I have engaged in many discussions where a good number of forum users confirmed to be using the DCA method, so I expect they will also be proud of what they have achieved through it.

To those who really helped in sharing their wealth of knowledge free of charge in this forum like @JayJuanGee, @Wind_FURY, @tranthidung and many others, you are all highly appreciated.

It is good that you have purchased your coins using DCA which is by far the simplest yet effective strategy to accumulate bitcoins over a long term.
It is a proven technique to earn profits over the long term and Microstrategy is the best example for it.
They have been buying bitcoin at regular intervals and has accumulated a lot over time.
Fortunately I have been able to accumulate using the same strategy and hold a decent amount of BTC now.

Blitzboy

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See who came around the corner! Congratulations on becoming part of the wise group where DCA is a lifesaver. The change from a "profit-and-loss seesaw" to a disciplined investment method takes a lot of time and work. You know how to really build wealth, while most people dont. DCA trains people to be patient, strong, and most of all, humble. It leads from the whims of the market to small-scale control. No matter how big or small it is, your portfolio shows that you believe in Bitcoin's basics and are dedicated to a bigger goal than daily fluctuation.

Your story isnt just a win; it guides people who are lost in quick wins. You, unlike many others, have learned to enjoy weak markets. Now thats smart investment. Don't let up, though. Investment and self-discovery never end. Dont stop pushing yourself, learning, and giving. Your trip doesnt end; it has only stops along the way. Remember that the bravest thing you can do in Bitcoin and investing is to keep going, even when things get hard. Congratulations on all you've done and all the best for the future!

livingfree

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Quote from: bettercrypto on March 07, 2024, 09:41:20 AM

Even when the DCA method has never been bad to use just so we can accumulate crypto assets that will give us profit, Any cryptocurrency will help, to be honest. Until now, there have been many people using it, including me.

At this season of the market, I'd say the same thing that it is applicable to almost every cryptocurrency that you might feel of DCAing. But of course, this is more helpful and usable if you'll do it with Bitcoin.

Quote from: bettercrypto on March 07, 2024, 09:41:20 AM

dca also teaches us how we can use discipline on ourselves to accumulate savings that we think will help us in the future. And this DAC has been proven and tested.

It is proven and tested, without a doubt. And I agree that when someone has learned how to DCA, it's not just all about the practice of accumulating and saving crypto.

But it's also about the thought that you're saving money and keeping it for your future. You'll develop that character and it will help you grow your finances in the right time.

bettercrypto

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Even when the DCA method has never been bad to use just so we can accumulate crypto assets that will give us profit, Any cryptocurrency will help, to be honest. Until now, there have been many people using it, including me.

dca also teaches us how we can use discipline on ourselves to accumulate savings that we think will help us in the future. And this DAC has been proven and tested.

Quote from: 0t3p0t on March 07, 2024, 08:02:22 AM

Trading is very risky for me and it gives me a lot of stress because I am not having enough knowledge about it though I only knew a few but still needs more of it that is why I only earn and hodl with the use of dollar cost averaging technique as it does not need so much time and effort to gain profit compared to trading. Why I switched into DCA is also because I want my Bitcoin holdings I mean the quantity to go up because I wanted it to reach 1 BTC that is my target.

It is true that the risk in trading is high, it cannot be done without knowledge of trading, instead, it needs to be learned honestly and dedicated.

Solokan

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DCA strategy is a good strategy for collecting bitcoins, it can be once a week or once a month, depending on our abilities and to be honest, I personally also like using the DCA system and I personally can also gain knowledge because I join this forum and often read posts by great people on this forum. . However, using the DCA system is of course for those who want to invest in BTC for the long term and only money that is ready to be lost is worth putting in Bitcoin. and the DCA system can also be used for those who have small and big incomes, so the DCA system is a good system and helps for all groups.

If you are proud of yourself, of course that is normal and it seems that now you have felt the benefits of the DCA system and as a friend I feel happy to see that you have successfully implemented the DCA system.

Yes, it seems like there are a lot of members on this forum who use the DCA system and certainly since the bear market there are definitely more who do.

Yes, by using the DCA system, even if our collect a little bit of BTC, it will become a hill over time and of course I want to congratulate you for successfully using the DCA system and you have become a good example for everyone.

0t3p0t

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Trading is very risky for me and it gives me a lot of stress because I am not having enough knowledge about it though I only knew a few but still needs more of it that is why I only earn and hodl with the use of dollar cost averaging technique as it does not need so much time and effort to gain profit compared to trading. Why I switched into DCA is also because I want my Bitcoin holdings I mean the quantity to go up because I wanted it to reach 1 BTC that is my target.

lovesmayfamilis

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DCA can actually be used anywhere. The principle is so simple, and some people use it without even knowing the definition of the entire abbreviation. Leave 10 percent of your regular earnings. The American dream of becoming a millionaire and having a million also meant saving a few percent of any profits. Knowing about Bitcoin today, anyone who can earn their income and limit themselves to some part for holding can become an investor. There were many surveys on the topic: if your salary is enough for you, then can you live without one of its ten parts? Many of the responses were positive. All that remains is to make the right and necessary decisions.

btc78

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Congratulations, op! Patience is truly a virtue and it is something we need to have the most when it comes with DCA method. Some people might get frustrated and would want to buy huge amounts of bitcoin already and then end up with nothing. A few satoshis is better than nothing. Of course we should always aim for more but sometimes we have to accept what we are capable of right now and just take the long road.

May you serve as an inspiration to others!

CageMabok

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Quote from: HideYourKeys on March 06, 2024, 01:00:20 PM

great post mate, it is true that sometimes it is better to make the biggest investment possible, the sooner the better, but DCA would be the 2nd best option imho (sometimes there is a 2nd best )

If it is the second best option in terms of investment, of course it is still worthy enough to be used by everyone and can still be relied on under certain conditions. Because this can also be adjusted to the conditions of each person's abilities when they want to invest for the long term without making it more difficult for them to control their life. I still quite like using this option in my investments so far because it is really good and I also consider it my first option in terms of investment.

Smack That Ace

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Quote from: Darker45 on March 06, 2024, 08:06:41 PM

Quote from: Smack That Ace on March 05, 2024, 11:47:46 PM

Quote from: Darker45 on March 05, 2024, 10:38:29 PM

DCA, of course, is a good buying strategy. It makes you forget about timing the market. It is, after all, a difficult thing to be accurate about.

However, we should be realistic with DCA as well. DCA could have a different face, an ugly one more or less. Buying little amounts every once in a short while also means you're accumulating UTXOs. Buying $10 or $20 worth of Bitcoin weekly or bi-weekly could mean you'll have 40 UTXOs or 20 UTXOs, respectively, in just 10 months. That's going to be a heavy transaction once you spend it. You need to monitor the mempool and consolidate them once the transaction fees are low.

I think there won't be too many people holding bitcoin in non-custodial wallets, most will hold it on the exchange and they will DCA every time they have money. Everyone knows about bitcoin's transaction fees, and especially retail investors like us care about that more than anything else.

It is very difficult for us to accumulate 50-100 USD/week/month while having to spend 5-7 USD per transaction, not to mention those who only save 10-20 USD per month, will they accept that fee? That's obviously not realistic. I think no one will accept that even though everyone knows the risks of leaving bitcoin on centralized exchanges.

I'm not sure what percentage of those who do the DCA method keep their Bitcoin in non-custodial wallets and what percentage keep theirs on centralized exchanges. I'm not even sure if those who are advising others to DCA are doing it themselves. What I know is that accumulating Bitcoin little by little on centralized exchanges has additional risks.

It is possible that some of those who DCA in their non-custodial wallets don't care about the fees for now as they're hodling it. They intend to keep it long-term. They're probably more focused in growing their Bitcoin portfolio. Later on, the fees might surprise them.

As I also said, I agree that holding bitcoins on centralized exchanges is very risky but the problem is that bitcoin transaction fees are not trivial for retail investors. So I'm really skeptical of anyone who says they're still DCAing every week and storing bitcoin in a non-custodial wallet. I don't remember exactly who it was, but someone once said that their income was only 30 USD/month and they were still accumulating satoshis every day. So in your opinion, are these people brave enough to spend 5-7 USD per transaction? Sounds too unrealistic, right?
But the solution Silberman mentioned isn't too bad and maybe some people are using it.

Topic: DCA: the power of little beginning - page 4. (Read 1140 times)