Topic: How is your DCA solution? (Read 920 times)

I agree because once a habit is developed it doesn't become any problem for you to actually stalk up your bitcoin because believe me saving money isn't that easy as many folks are actually claiming it to be because if you don't have it as an habit then procrastination because your era of the day and once you start doing that saving bitcoin or money seem to be very difficult.

If am doing DCA I don't think reflecting on the fees in which you have inquired over the year for transaction when saving your bitcoin would actually be a good idea because sometimes finding out details about things can actually discourage you.

You have a good point but it seems the OP said that he already bought from the KYCed Exchange


So I only give him an option withdraw on lightning network because the fee would be cheaper beside that usually CeX offer better spread than DeX

What's the point of using Lightning in centralized exchanges that require KYC? What's wrong with decentralized solutions that the crypto market offers you? If someone decides to use Lightning, it is better to use proven solutions such as

• https://boltz.exchange/
• https://www.lnswap.org/
• https://lnmarkets.com/
• https://www.coinplaza.it/

Actually, the way you doing DCA is already good I mean buying in a couple of months and then withdrawing it when reaches 100$ is totally great, tho like others have said you might consider buying bitcoin using the p2p service but or withdrawing it using Lightning network or native segwit if binance has the option because both of it can lower the fee of the transaction.

Or you can continue DCA for more than 100$ As far that I know that most of Centralized Exchange have a huge fee for withdrawing. and @ DVlog already mention that fee is lowest maybe you can check regularl to mempool.space before withdraw your money and if reached peak you can continue DCA when it reached lowest you can start to do withdraw

Don't worry about it, mate. That's just an example. People know they must adjust it to the income they get to invest in bitcoin. Only use the money we can afford. That's the key.

As for the fees, it's reasonable that someone would want to know the fees on other exchanges. This can be used as a comparison with the exchange he has used.

Okay yeah, I do follow through on that now.

Can we overly refer to it as the “best or soundest money ever”?
I don’t want to be so pro bitcoin and so, you might have to understand my argument in the bases measure.
You know, money has gone through several systems over the years and the most of it is always measure by weight. Where we had people scale goods for goods (the barter system), using metals and the evolution of CB backed paper money for values.

Anyway, on the side of measure, the volatile nature of bitcoin have made it a not so sound or best as you would want me to agree it to be. Don’t get me wrong, am very much a pro bitcoin but, don’t want to let that push me into a YES on all that it entails. On the count of measure and volatility, it’s doesn’t have that fine cutting edge that assures your measure stays same. Yeah, you might profit or lose as is the case with business but, as money for even a short period of time, it leaves you shaking to have it in the likely hold of a drop while accepting it in exchange for goods.

On the part of it being an investment and the time that is being wasted by holding back on investments on the part of institutions and governments, I would say, they sure do get the picture very shallowly and could be that, the government don’t hope to lose its hold on its citizens to the idea of financial freedom just yet which is sad. Just how people choose to go with everything the government have served for them. Even in the shackles of traditional monetary systems despite glaring evolutions.

Lol,,, forgive my generalization as I very much want to view bitcoin as cryptocurrency (in shorts: cryptos) but, you could be rest assured I meant bitcoin.

Right now, withdraw fees for bitcoin in Binance are $1.7 for the legacy network, and according to my knowledge, Binance charges the lowest withdraw fees among all the cryptocurrency exchanges. I think you are referring to the bitcoin lightning network fees, which are under 0.1$ in Binance. Lower than Coinbase. I do not think many people like to use the Lightning Network to store their bitcoin in their long-term portfolio. Legacy networks are costly but more trustworthy for many investors, and if someone is investing 50 dollars every week and has to pay $1.7 every time he withdraws BTC from an exchange, then for 100 transactions he will pay $177. This amount is nothing for many of us, but for someone whose maximum investment capability is $200 every month, it can be painful.

The major problem with buying Bitcoin using Binance P2P is that all your Bitcoin will be in Binance and you have to pay the fees to take it to any external wallet. As have been emphasized in this forum across several boards, it is not safe to store your funds in centralized exchanges so you have to withdrawal to your personal safe wallet. Apart from the fees, Binance P2P is good way to buy with your local currency especially for people facing FX restriction like it is in my country.



There are many exchanges where the fees are minimal. For instance, Coinbase charge as low as 0.00000473 BTC(about $0.122) as withdrawal fee for BTC. Under this fee, a hundred transaction will cost $1.22 which is not too much a fee to pay. There are many other options including P2P using trusted merchants as it is done in my country where Coinbase is not available.

It is important to improve your standard of living, and it is also important to learn to invest enough money so that this will allow you to achieve good profits in the future. If we simply stay in our comfort zone, and what’s even worse, if we are content with only what we have, then we will lose the desire for the best.

We can't spend everything on ourselves because it won't bring us wealth in the future, and we can't save everything because it's just as extreme and can ultimately demotivate us. Balance is very important in all aspects of our lives. And it also seems to me very important to understand what we want to achieve in the end, why we are doing all this, then we will have the motivation and desire to achieve it.

And the correction that we are seeing now is just a great chance to buy even more Bitcoin. When we reached the 30k level, I already thought that we would go into further growth, but if the market is now giving us such a chance, then I think that we need to take advantage of it.

Yeah that's true and I think they're overcomplicating things in terms of thinking about moderation to find the best decision for them, when only they know about their financial situation and maybe even some of the advice that comes in is not going to be taken too seriously especially if it's against their wishes. Well it's like just complicating things, I know they can afford it but they are too dramatic to allocate the money they have and also maybe they are too afraid of something that will happen with their money.

Actually this can be simplified, they can take the middle path that they think is the best, and by balancing their money allocation between for bitcoin and for other needs. Don't be too dramatic in terms of fear, it's very clear that if you want something big (profit) then you also have to dare to take one of the actions, so I think it's too early to think about things that you don't even know if the fear will happen or not. Yes that's right guys, there are some of them who think and say like that, between investing everything or not even at all, I think it's not the end of the world. If you have minimal finances then you can choose to use the DCA strategy, that's the middle ground that I think will be effective, you can allocate part of it for living needs and part of it for bitcoin once a week or once a month, it doesn't need to be a large amount, you can start from the smallest that you can do,
honestly I'm sure you also want to have a successful future with significant results from bitcoin, and with DCA you might have a chance to be able to achieve all that in the future, and well as long as you can stay consistent in doing it.

Choose the exchange that will facilitate your transactions. Why are you using Binance instead of all other exchanges if you have to transfer BTC with higher fees than other exchanges.
Today I transferred BTC from my mobile wallet, where it cost me 0.0000094 BTC(0.24$) to transfer BTC. Since you are a small business owner, you will never save money if you have to pay $8 something transfer fee for every transfer. Since you have been using Binance Exchange for a long time, you can change your exchange if you want. You can use KuCoin or OKX instead of Binance. Hopefully these exchanges will charge much lower fees to transfer bitcoins to bech32.

When the ordinal dust was hype, Binance increased its withdrawal fees, but when the ordinal dust went away withdrawals returned to normal.

Now I don't have a problem with the $2 fee for withdrawals every month, I think again it's already small and indeed the average withdrawal fee is almost the same even though some are lower.

There is a reason why I don't do it like that, I prefer now once a week and this has been taken into account with dcabtc.com after someone shared their simulation.
Now put aside withdrawal fees a little, focus more on DCA every week.

I know the lightning network is cheaper but, now I don't use it, and on Binance there is a lightning network deposit limit with the recommended maximum being 0.02.

Investing the same amount of money at the same interval makes a good habit of investment. It is not about the amount and no one will punish you if you invest more. It is necessary to create a habit of investment which is very important for an investor who wants to DCA for a very long time.

I think the main problem with DCA is the fees. If you have been doing DCA for over 3 years and you have made more than 100 transactions already then you know the total amount of fees you have paid is not tiny. An investor who can only invest 50$ a month needs to consider every bit of dust he can save for himself. The goal is to fill your bucket as much as you can without losing much of it.

I mean that the incentives of bitcoin work the same whether you are an individual, institution or a government - even though it likely takes institutions and governments longer to act because many times they have to get approvals.

Think about it.. bitcoin is the best and soundest money to ever to have had existed (so far, and there is nothing in sight that is even close to it or likely to beat it), so the longer that anyone (or any institution or government) waits before getting involved in bitcoin, then the more it is likely going to cost them to get in (they are not likely to get as many bitcoin as the person, institution, government that got in earlier).

Yes, we can go back and the charts and find examples in which someone might have bought bitcoin at the top in late 2017, and then see that in late 2022, those people/institutions/governments could have gotten into bitcoin cheaper than the guy who got into bitcoin at the late 2017 top, but that is not realistic... including the fact that if a guy in 2017 bought several bitcoin at the top, he is likely not going to be waiting around until 2022, he likely is buying bitcoin the whole time. .that would be the smarter thing to do, especially if he bought at the late 2017 top.

Let me give some examples.  

A guy in late 2017 might lump sum buy $50k worth of bitcoin at $18k.. so he gets 2.7 BTC, and maybe the next 6 years, he buys $100 of bitcoin per week, so he ends up buying another 2.855 bitcoin for an additional $31,3k.. So he has invested 81.3k and he has 5.555 BTC.  Does not seem to be a bad place to be.

If a guy comes to bitcoin in 2022 and he had $80k to $100k, is he going to invest  it straight into bitcoin and is he going to be able to get more than 5.555 BTC with that value?  Maybe maybe not.  Frequently conviction and abilities to be aggressive psychologically and/or financially build over time.

Another example might be the guy who did not lump sum into bitcoin in late 2017, but instead invested $81k over 6 years, but ended up starting up investing in late 2017, and so that guy would have right around 7.5 BTC for the $81k that he invested over the past 6 years at $260 per week

The same kinds of incentives exist for governments as individuals when dealing with the soundest money in existence, even if they might be able to get into bitcoin related businesses and even if they might be able to seize some bitcoin from the people, they still have other basic incentives to get into bitcoin earlier rather than later, even if they don't even realize the value of bitcoin and they don't even realize that incentives that they "should" have and that they likely will have with the passage of time, even if it might take several cycles or even a generation or two before they figure it out sufficiently enough to know that they should be designing their systems around bitcoin rather than fiat.. .even if they might need to do both during the transitionary period.


Fuck cryptos.  We are talking about bitcoin.  Don't be wasting your time talking about cryptos, thinking about cryptos or mixing up your language in such a way that no one knows what the fuck you are talking about.  We are talking about bitcoin here.  There is no innovation in crypto without focusing on bitcoin first.


Yes.. cryptos are a scam. .they are affiliation attacks on bitcoin, and sure people can fuck around and gamble with that crap and/or transacting with some crypto might be acceptable, but they need to keep their eyes on the prize, which is bitcoin.. and don't be holding onto crypto.. except for maybe some transacting with it or holding small amounts, since the only real innovation is bitcoin and any investments are being made need to have some bitcoin connections and/or recognition that they are building on bitcoin and not getting too far detached from understanding what is going on.


That's what seems to be happening with a lot of people/institutions/governments who think that they know about bitcoin because they heard the word, but they fail/refuse to get a stake in bitcoin.. because they actually don't know what bitcoin is.


I frequently tell people about bitcoin, and then when they start to get skeptical and even suggest that I am trying to sell them something or to motivate them to get in, then I frequently tell them that I hardly give less than two shits about what they do and whether they get into bitcoin or not. I am largely telling them information that is for their own good to know and it is up to them to figure out how to act upon such information, if at all.. and sure failing/refusing to act is a kind of act, but failing/refusing to act does end up being an easier thing to do.. which is likely going to end up costing them quite a bit in ongoing lost opportunities to get bitcoin at cheaper prices.


These are real fears that people have.. so I frequently will say that if they are so damned nervous about bitcoin being a scam, then just get in at a lower level of around 1% rather than 25%, even though I am suggesting a range of 1% to 25%, then they can choose their own level, even if it might seem to be a relatively whimpier level, but at least they are getting off of zero.. and in the end, it is up to them to make their choice about whether to get in and how much to get in and most people end up gravitating into the failure to act so they stay on zero, and even very few become even low coiners but instead stay as no coiners.


Probably we need to be careful in terms of providing any specifics.. and usually I avoid giving any specifics, but sometimes, I end up providing some comparisons in such a way that they should be able to get some pretty reasonable ideas of wsome of my specifics, even though I don't ever tend to say specifics, and sometimes I will even provide some low ball examples to show.. and maybe they think that I am talking about myself, and I can never be sure what they think...even though frequently people will directly ask.. .. so I might say, "let me put it like this: if you had bought $10 per week of bitcoin since late 2013, then you would have bought $520 per year on bitcoin which would be nearly $5,200 right now... so then giving some ideas. and then maybe I would pull up a DCA chart that would show that I would have around 4.62 BTC merely from my $10 per week from the past 10 years.  So then once we have a number, then we might suggest that if I had done $100 per week, then I would have right around 46.2BTC, and then that starts to get their attention because we can start with small numbers and then either 5x or 10x then numbers in order to show how the level of aggressiveness can make considerably large changes in the magnitude of the results... but the results can be considered to be the same, even if it might be difficult to see cases in which people were completely consistent for 10 years and they might well have ups and downs, and periods of buying and lump sums and mistakes and they still might have an average and to be able to see if they beat the straight DCA approach  or if their amount invested ended up performing better than a somewhat strict DCA approach.


Many people have difficult times thinking in terms of moderation and even allocating some money to bitcoin and some money to other things, and they frequently think that you have to invest all or nothing, and they don't recognize and appreciate how some investments build over time, and they may even have many years in which they are not in profits or barely in profits. so that sometimes it can take a while to show the payoffs even though in bitcoin we could also say something like in 2015 I got into bitcoin by buying 100 BTC for $30k ($300 each), and this and this and this happened, and now I only have 10 bitcoin left... hahahahahaha... but maybe those 10 bitcoin (at nearly $260k) are still worth more than the $30k initial capital they had been bought for in 2015.

I dont know why some people in the thread talk about a fixed ammount per month to make the DCA , man put whatever you can, its not the same the ammount who can purchase a guy from USA with a much more income than a guy in Malasia earning 30 usd at week.

The key factor its making something and having a save on BTC.

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About fees, dont overthink it too much when you reach X ammount and the fee are below 2% go ahead and make the withdraw.

I don’t quite follow up the part where you say, the government are already incentivized to participate in bitcoin.
Is that supposed to mean in the amount of allocation they have or you mean something different entirely.

When it concerns cryptos, I could hardly imagine any government that is yet to legalize the cryptocurrency innovation, act in the interest of its possessor or interest of the public. The best they could play roles at is in issues where there is an obvious scam, haven’t used the currency for a media.

Having fun, staying poor, lol…

Holding to inspire,
That’s hardly any purpose for me as I’ve tried convincing a few persons over the years but, I got to realize it’s mainly talking to deafness and most persons wonder what’s your motive. Haven’t had encounters with Ponzi schemes or are familiar with its operations.
Besides, you don’t get to declare your hodlings to even the closest of persons as this would pose a risk to security and you leave yourself open, privacy unwise.
This makes that agenda of holding to inspire a not very suitable one.

Still, it becomes an inspiration for most when they realize your funds span from a bitcoin investment.

I know how you are feeling at this point but what you must know is that the forum is really time consuming if you may think of having a reputable account or having to build your account as its requires time and energy to be consistently posting, that isn't enough but to keep reading to understand the full progression of this forum as I can see that post are given give rewards due to amount effort and valuable (helpful its to people) before you could be rewarded a merits to talk of increasing in rank before applying in a campaign. All they need is your time!

Governments vary around the world, and some of them have their own money they can print and some of them don't and most of them have some options regarding how to manage their treasuries.. even if they might have mandates from higher levels of governments or reporting obligations to the people.  Governments are already incentivized to participate in bitcoin rather than fighting bitcoin, but they can do whatever they like including having fun staying poor. .. it is their choice to figure out how to get involved in bitcoin, if they have options and abilities and powers to do so... and yes, sometimes governments seize assets too.. they are supposed to be acting in the public interest when doing these kinds of things, but some governments have various injustices within their ways of operating.


Yes.. there are no coiner and low coiners, and sure many of us already realize that folks in those categories are likely going to be better off to not only study bitcoin but also to take action, but at the same time, we know that an overwhelming majority of people remain no coiners and low coiners for a long time, and maybe it will take a few more cycles (or another generation or two) before some of them really start to realize that they need to figure out some kind of a bitcoin allocation plan.. for their own good.. and in the meantime those of us who either already have bitcoin, or who start stacking sats earlier are going to be completely advantaged over the many many already existing laggards who don't have time for figuring out their bitcoin strategy and acting in ways to facilitate bitcoin accumulation sooner raher than later.... and they can have fun staying poor, too... Those of us with bitcoin and who already know that it is a good idea to buy bitcoin or to mostly HODL bitcoin, can only do so much in order to help people in terms of how they think about bitcoin and/or to attempt to inspire them to actually take some bitcoin accumulation actions.. For the most part, they have to figure some of it out on their own and start to act upon their learning about bitcoin in order to hedge and/or to protect their own financial and psychological interests.. and yeah, if they don't know it, then they don't know it.

Of course that’s one way to look at it, institutions and even the government although, I wouldn’t want to go with the government as, they’ve got a product of there own in the fiat and works a different system for which, they wouldn’t want to let go of there product to purchase a product that, they criticize and wants to do away with, viewing it as a harmful competition to there precious fiat and centralized systems. Them having a crypto portfolio other than means of seizure would be hypocritical.
Who knows, the seizure and adding to it could be a way for the government not to get left out on crypto investments without being criticized.

Perhaps I over exaggerated on no coiners but, I didn’t mean to pin it to having zero crypto portfolio but then, it’s almost normal to expect them to act based on how well informed they are and would be conscious of what’s being lost with each time past.

I didn't really read through all of the replies here but I think you should send them to trust wallet thats if you have one and there is also the Lightning  network  on binance and I've heard and read that it is extremely  very much cheaper than withdrawals on the regular btc chains.
And secondly just as other users have also advised, I think you should also try saving and putting the money together before buying if you want to save on transaction fees and you please avoid centralized exchanges if you care about not losing your funds as there have been several sad stories associated  with centralized exchanges and its fine if you just do exchanges  on them rather than storing your coins over there no matter how little it might be.