Topic: Finally I did it (I am happy to join). - page 4. (Read 1996 times)

Accumulating $100 per week from now till the next 10 years will be a good one because, from my calculations, I got $52000 in total and,, the price of Bitcoin is @$43000. But come to think of it, within 10 years, the price of Bitcoin might skyrocket above $150,000k or above $200,000, so the $52k that the investor accumulated might not be able to reach a whole Bitcoin or even half a Bitcoin.

But nevertheless, we should just constantly DCA the amount that we can and not to contemplate whether to reduce the amount we accumulate but we should only be thinking of increasing the amount we put in Bitcoin weekly or monthly.

However, achieving a whole Bitcoin can be so easy if an investor always keeps emergency funds separate from Bitcoin investment and still, also has a steady cash flow, and with time if he still increases the DCAing amount.

Although the OP did well as he purchased the amount he bought (above $1k), it would be better if he constantly bought weekly with the help of the DCAing strategy, as he already said he has a steady cash flow.

There is no specific time to invest in Bitcoins, Bitcoins should be purchased only when there are no more deposits to be had. You buy bitcoins above about one thousand dollars it is most attractive for the present time. But your first investment will definitely be successful because there is bitcoin halving in the future, so the price of bitcoin will definitely increase and you will also get benefit. But I would like to give you some advice to make your investment period long. Bitcoin investment is definitely more profitable if it is long-term. You already noticed that Bitcoin price was very low last two months and has almost doubled in the current time.

Very nice purchase, it's a big purchase friend you invested in Bitcoin it's very desirable. But Op if you don't invest at once, it would be best to invest following DCA method. Investing in Bitcoin with the DCA method will make you want to invest more, and you will always want to invest in Bitcoin. It's good that you invested now because even though the price of Bitcoin is a bit bullish at the moment, and the price of Bitcoin will continue to improve even more in the future. So I never consider investing in Bitcoin as a risk, I think investing in Bitcoin is a good decision.

Currently the price of Bitcoin is still below the ATH with a $25k difference. And anyone who missed the opportunity of buying now would still make same calculations you made earlier and would still have considered now to be the best time to make his investment in Bitcoin. That is why the best time of investing in Bitcoin was yesterday and the second best is today. Those who complain about the price now and procrastinate buying, would still make complains and regret they didn't buy when the price was $43k. I think some times we just gat to leave our comfort zone and become more aggressive in our accumulation by trying to use other strategies. After securing our emergency fund that could last for about 3 months, using lump sum would be a great idea. Because how far you go in your accumulation is determined by the opportunities you took advantage of when the price was still low.

Perhaps if a person had come into bitcoin around the top of the 2021 market and had contemplated that he was able to spend around $100 to $150 per week, and he speculated that he might be able to accumulate 10 million to 20 million satoshis in the next coming 3-4 years, and maybe he might have thought that maybe he might be able to get up to 1 bitcoin in 10-15 years.. perhaps perhaps... but then when the BTC price ended up correcting two years ago, he may well would have considered that to be an opportunity to buy bitcoin at lower prices, and therefore his $125-ish per week for the last 2 years would have resulted in right around $13k invested and close to 0.55 BTC, and so he might be considering that it could be possible to get up to the accumulation of 1 BTC in the next 3-4 years, especially if he might be able to increase his  DCA amount.  Of course, there are no guarantees in regard to his ability to reach 1 BTC, but it may well seem like a realistic goal, even if it is a bit of an arbitrary amount, and maybe any of us would be striving to accumulate as  much BTC as we are able to accumulate, depending upon our own personal circumstances, and even though the amount we accumulate can make some differences, we still just strive to do our bests, and sometimes like you suggested, there might be some needs to cut back the amount DCAing and other times, there maybe be some abilities to increase the DCA amount.

The future is more brighter than now, so if I managed to accumulate 1 Bitcoin I will be very happy because it is not a day story to tell but it is a mile stone and everyone will he very happt to achieve it.
Starting with $1400 is also not a bad idea if an investor is eiger to get involved into Bitcoin, I can constantly DCA $50 in Bitcoin monthly and I am rest assured that with time I might increase frim $50 to $70 or more in Bitcoin, if I manage to put $100 in Bitcoin, it will take me 8 years to achieve 1 BTC in this current price.
If one don't have a plan he or she can not get want they want, but as it is very hard to achieve a goal, one will need discipline to do so.

If an investor has an emergency funds, that will also help the investor to hold for a long term and also help him or her to accumulate more Bitcoins without getting to think about whether to sell a little of his or her coins to sort out some personal issues at hand.

One of the things some investors do is to try to see if they can accumulate up to a whole BTC or more, but the interesting part of it is that they can not achieve that if they don't work hard to achieve it.

And some might end up half way and some might not reach even half because there might not be a steady cash flow or over-expense might be the cause of it.

Still, they can never achieve upto 1 BTC if they don't have a steady cash flow just like you already said, but even with steady cash flows, if they don't try as much as they can (like holding their guns and not looking back but always ready to fire more money into their investment,,, they can never achieve a whole BTC).

So, the best way to achieve a whole BTC or the little one they can get is just to stick to their plans and never get tired of accumulating it.

Yes.. we should try to be realistic and also appreciate that bitcoin is amongst the best of investments, if not the best investment, that anyone can make, even if they might never be able to achieve a whole bitcoin, which truly is an arbitrary amount.. since the unit amount is fixed and bitcoin is quite valuable, even though many earlier adopters likely did not realize the extent to which seemingly small amounts of bitcoin were going to end up having very large dollar prices.

So yeah, even someone who is new to bitcoin and who has a pretty decent ability to purchase between $100 to $200 per week in bitcoin, may well not even be able to achieve reaching 1 bitcoin in 5 to 10 years, and surely we cannot know for sure what the BTC price will do, but a person investing $100 to $200 per week for 10 years would have had invested $52k to $104k into bitcoin over those 10 years, and I am suspecting that even the person who invested at the higher $200 per week, might not be able to achieve a whole bitcoin in 10 years... and yes, we cannot know for sure, but the mere fact that one might not be able to achieve a whole bitcoin should not take away from the fact that each person who does not have any bitcoin (or has a low amount of bitcoin) should strive to be as aggressive as he is able to be in regards to accumulating bitcoin, but not so aggressive as to over do it or to reck himself because he failed/refused to establish and maintain an emergency fund... and so each person can figure out how much he is able to spend in order to be aggressive without over doing it.  Some people may ONLY be able to do $10 per week or month, and others might be able to invest in lump sums or even averaging out toward being able to invest $1k or more per week.


Anyone investing into bitcoin has to be careful to not overdo it, and to maintain an adequate and sufficient emergency fund as to be able to continue to invest (or buy btc) during bad times, or at least not sell any BTC during such bad times.  Easier said than done, but each of us should be striving to put good and sound practices in place so that we do not have to sell any of our BTC at any time that is not fully and completely of our own choosing.


Having an emergency fund that is 3-6 months worth of expenses is also good, and planning cashflow in advance, and surely a person who has a 6 month cash reserve is going to be able to be much more aggressive in his BTC investment approach as compared with someone who has 3 months or less of cash reserves.

The journey of how you started your bitcoin journey, is supposed to serve as an inspiration to those who have still not gotten the encouragement to invest in bitcoin up till this moment, rather they prefer to procrastinate instead. Ignoring the fact that the longer people put off buying bitcoin, the more probable it is that they will lose an excellent opportunity to invest in bitcoin at a discount. That's by the way. You did noble to purchase your first Bitcoin. It is only a wise man that saves for the latter rain and that's what you did. Congrats to you for having your first bitcoin. You have just joined the league of bitcoin holders.

For me, there is no difference between investing in shitcoins and gambling; they both carry the same level of risk. There are those who excel at both gambling and investing in shitcoins. But, if I had to pick, I would rather invest in shitcoins than gamble since you can reduce risk by having a strategy that increases the probability of success. If the investor is a novice, I recommend that they avoid shitcoins since they will end up liquidating their assets.

Anyone with a gambling tendency who's also investing in shitcoins is practically double his risks because shitcoins are no different with gambling... And I'll prefer sticking to actually gambling only after investing in bitcoin which is the real deal, instead of adding shitcoins in spite of the % used addition to the gambling risks increasing your potential losses.

Newbies should know that there is definitely no competition with the owning of bitcoin as it can only lead to an unhealthy competition with investor's investing beyond what they can afford to lose because they are racing to meet up with someone else they are competing against whereas their income flow is nothing compared to who they might be racing with. AFAIK, the only competition that exists with bitcoin investors is the competition against any potential challenges that may arise along the way to hamper the investor's initial long term investment plan forcing to sell at a loss. That where your competition lies and one potent way to win is having multiple income source stead of a single.

Imagine you are holding more than how much i gather over the years  well   i must 
admit that I have spent almost every coins I hold when pandemic happens when the world stops
and the work ends for couple of years and i have nothing to spend but my Holdings and that
sadden me though yes I am gathering much now as i started gaining again in the last 6 months.

yeah she is someone that we need to congratulate because as a starter she already have
that huge amount more than how much many of us has now lol.

Getting exposure is not when you're sleeping under a roof with fire on it, thay is obviously risk taking, considering what is as devastating as shitcoins for an investment is nothing but taking risk, if we are Investing, we must know that bitcoin is the cryptocurrency that we can have rest of mind in with it's Investment that will create no FOMO, the funny thing we have to remind ourselves about is that none of these shitcoins will first appear to is as being shit, they will make some weird performance to trick us for their short time profitability and then we make an investment in them.


You guys were all right, it's not everyone making an investment thst may have to come come onboard to share their achievement to the whole world just for making bitcoin Investment, instead i think this is another stage to pick up the challenge in learning many things required to Know for an investor, taking advantage in learning, knowing the security measures to take and what kind of wallets are best recommendable for their use, investing is not the end to the road map of having a successful acheivements will bitcoin, instead OP is just getting started.

I always find wisdom in your writings, no wonder I don't get bored while reading your lengthy posts. I have come arose some person here in this forum that thinks, the main purpose of investment is achieved when you have at least 1full coin, rather than having smaller denominations of that coin. This is the one of the reason we find people investing in altcoins rather than Bitcoin, they think bitcoin investment is already too expensive to accumulate a whole bitcoin. However they are wrong but if accumulating a whole bitcoin is what they want, then they need to become more aggressive than ever, but they should also consider investing based on their financial income and earnings, so that they'll not do more than their capacity, then latter fall back to their investment.

Thanks Mr JayJuanGee , you're #my biggest Inspiration.

You seem to be referring to some kind of need or wiseness to invest into shticoins... @wallet4bitcoin, and surely that is not true.  It is probably dumb to be wasting time to be buying any  shitcoins at all, and if you have some kind of a gambling tendency, then maybe limit your investing into shitcoins to no more than 10% the size of your bitcoin holdings.. and that might even be too much.


To me, it sounds like OP decided to perform some kind of a lump sum and then to consider continuing to invest more into bitcoin in the future as his cashflow situation might permit.

Personally, I have nothing against lump sum investing into bitcoin from the start, yet the better practice would be to perhaps lump sum ONLY around 1/2 of the money that is immediately available, and save the other half for buying on dips, so in this case if there was around $1,400 spent on the first BTC purchase, then perhaps there would be another $1,400 for buying at various points on the way down if the BTC price were to go down, such as buy an additional $300 every time the price goes down $1,500 starting at $40,500 (or something like that).  It appears that OP made this particular purchase at around the highest price that the BTC has been in the last 20 months or so, but that still does not mean that the BTC price will correct or that the BTC price won't continue to go up from here.

Another thing that I would consider is setting up another ability to supplement the already purchase by setting up a DCA at around $50 per week for however long that it takes to reach whatever level of investment that is being targeted (whether that takes 4-10 years or longer or some other timeline that OP might have in mind), and maybe figuring out if there might be ways to increase the DCA amount by increasing income and/or decreasing expenses.   And, I am referring to $50 per week based on the amount that was already invested, since after 6 months, the DCA amount $50 per week would add up to nearly equal to the amount already invested in the $1,400 lump sum.  

In regards to the moving of the funds to a private wallet, I would not necessarily move $50 per week, but I would probably let it get up to around $500 to $1k before I would transfer it to a private wallet, since our latest in fees shows that it is better to attempt to practice better UTXO hygiene, and I think that it is better to keep UTXOs to $500 to $1k or more rather than having a bunch of small UTXOs.

As far as a private hardwarewallet.. sure there are ways to make electrum secure, but I am still nervous about those kinds of computer based wallets, and I am thinking that if you are able to get your hands on a decent hardware wallet (not talking about Ledger), then once your BTC are valued over $1k (which yours already are) then it seems to be necessary to start considering getting a hardware wallet.. and the more your value goes up, probably the more it is justified to consider some kind of hardware wallet.  This site is pretty decent in rating the hardware wallets, and this Athena site has a broader list of hardware wallet features and shows their methodology for rating wallets. Bitcoinhole has a lot of wallet details too.

No one can tell anyone else how to invest, but we can tell each other what we believe to be good and/or better practices, and we can agree to disagree regarding if any kinds of supplemental practices are necessary in terms of ways to accumulate BTC, whether referring to a brand new bitcoiner or someone who has been into bitcoin for a while, and the case of the brand new bitcoiner is a bit more clear of a case, because he is starting from zero, but still we do not know his various particulars such as his timeline or his risk tolerance or his cashflow and expenses or if he might have some other investments, besides bitcoin.

Edit: I am just referring to your opening post in your earlier thread in which you announced that you were planning to DCA $50 per month, which would have had been right around 16% of your $300 per month salary/income.  So in other words, if this whole thing is true that you had $1,450 saved up so that you would be able to lump sum invest, you likely overinvested into bitcoin (which is largely gambling) because you likely seem to have no plan for down (besides HODL, perhaps), and you may well take more than 2 years to be able to match the amount that you already lump sum invested if you were to still be able to invest $50 per month.. and your numbers don't even really add up to appear as a very reasonable way to invest into bitcoin.... and then why would there even be a need to create a new thread in order to talk about this actual lump sum purchase rather than just posting in the original thread


How are you going to know it is a ATH?  You mean selling at $69k?  That would be dumb.

Can you imagine working up to have a long term investment in bitcoin and then you sell the next time that bitcoin reaches an ATH, and then you are left with nothing but an extra 2x in fiat...

Consider the people who sold their whole BTC stash at various previous ATHs of $1,163 in early 2017 or at $20k in late 2020?.. sure this particular time, in 2022, the BTC price did correct back below $20k again, but that seemed to have had been a bit of a fluke, and still had to wait a couple of years, and seems like selling way too early to have sold in late 2020 merely because BTC price got up to $20k again... but yeah, guys can do what they like, even dumb things of selling too much BTC too early and then not having any certain places in which to buy back their BTC at a lower price, if that were to be the goals of someone who might have had already decided to engage in long term accumulation of BTC...then why sell in order to accumulate BTC, unless you are a gambler and you enjoy purposefully putting yourself through the stress of no longer being in BTC accumulation mode.


The point still remains to buy as much bitcoin as you can as soon as you can, and the mere fact that you start to buy bitcoin does not mean that you are going to have enough, and having enough is a work in progress that you are ONLY going to reach if you start to buy and you are fairly persistent, consistent, regular and aggressive about it.. as aggressive as you are able to be given your personal circumstances, and if you do not earn any money and you are a student, then you might really struggle to buy bitcoin, and you might be disadvantaged by your delaying in the buying of bitcoin, even though I do agree with idea of investing in yourself and learning how to learn and the kinds of things that can be learned in schools (or universities), even though there may also be ways to do both.. be a student and also to figure out ways to buy and/or earn bitcoin...and so yeah some of those are personal choices that might relate to where anyone happens to be at in the current stage of their life.


You said a lot of smart things about bitcoin @Assface16678, until you mentioned trading.

Trading is not necessary to learn or to practice when it comes to investing time, money and energies into bitcoin.  Fuck trading.  It is not necessary, even if some folks might choose to engage in such trading/gambling practices, which might work against their abilities to actually accumulate bitcoin in a meaningful, consistent, persistent and aggressive way (be as aggressive as you are able to be without recking yourself).


It is not necessary to own a whole bitcoin.

Each person should invest in accordance with his abilities, and sure attempt to get as many bitcoin as you are able to get, up to a point... so OP has gotten to 3.3 million satoshis, and the next goal might be to get to 10 million satoshis, and then the next goal to get to 21 million satoshis, and then maybe to half of a bitcoin, etc etc etc.. and some people might not be able to reach a whole bitcoin, even if they started investing at $100 per week, they would invest $5,200 after a year and $52k after 10 years, and that still might not add up to a whole bitcoin.  Point is to do what you can, and sure be aggressive if you are able to be, and you likely need to aspire in stages and goals that are realistic and reachable.

Now the crowd was in the mind of holding,because the price of the bitcoin at the bull run.The trader who hold the bitcoin at the bull run can able to win the more dollars at the end.Since the year was beginning in few days.We need to hold the coin,So we can hold at the bull run was the brilliant move in the bull run.But many traders was behave like selling on demand at any price.They don’t know the value of bitcoin because they getting the bitcoin from the weekly payments and carelessness should be avoided.

So the bitcoin holding trader should hold like the bitcoin trader,because trading on the market should be deep analysis.So the trader only sell at the maximum value,they never sell their valuable assets at the small bull run in the market.Hold the bitcoin till next year for the more profit.

That's a pretty big initial purchase OP congratulations on that but of course you also have to know that this is just the first step for you because the next step is arguably more difficult because after all, maintaining will be very much more difficult than selling and buying.
So in this case when you make a big purchase now it would be great if you can hold it for a certain period of time and it would be even better if you try to add little by little to your portfolio.

One more thing that I think is quite important because if you look at the screenshots that you shared it comes from the exchange (binance) so in this case it would be better if indeed you want to be there for a longer period of time then you should move your assets because I think it is not too safe if too long to keep bitcoin on the exchange and it would be better to store in a wallet that feels safe for yourself.

Yeah, enjoy the roller coaster because this is where emotions are going to fill him but don't be moved when he's caught with that.
Congrats to OP and do more accumulation in time because when the halving comes, it's worth it that you've decided to start.

I know how it must have felt buying your first ever, that feeling is more than highest. I could remember when I also bought my first set of satoshi, all guide where given to me by this forum members when I came newly, they the best I've come to see so far when it comes to help, advise and guide. They don't get paid for it but yet they give the best quality advise. However op, congratulations ones more, hope you have already started using DCA? In as much as we are in a season of celebration, it's always good never to skip your DCA for the day, week or month. Keep holding and accumulate more.

Merry Christmas

Wow this is huge and congratulations on your first bitcoin! Keep holding and stacking and always hold the long term growth vision in mind. It is quite a roller coaster to be a bitcoiner, it won't be easy but it'll be worth it!