Perfect idea. He’s been doing that since January 2015. In that year it recorded the price of bitcoin at $200 and at the end of 2015 we recorded it at US$ 420.
That person’s profit in a year has reached $220 multiplied by $365, of course this is a tremendous result. If you multiply it by the year 2021 today,
that would have made him a billionaire. But at that time bitcoin was not as popular as it is today. There were still many people who were not interested in
investing back then.
Topic: Investing 1$ every day in bitcoin over the last five years (Read 5053 times)
I think the analogy of investing 1$ every day for the next 5 years is only durable if you create a common pot to store that money.Otherwise, if you buy in every time you will get wrecked in fees. At least after the 5 year period your pot will be able to withstand the fees much better.
But, I think what's important here is not so much the logistics of saving $1 every day and how and where to put it, but more about the need to learn how to finance yourself better, and that investment is the way. And, that's the core of the message.
But, I think what's important here is not so much the logistics of saving $1 every day and how and where to put it, but more about the need to learn how to finance yourself better, and that investment is the way. And, that's the core of the message.
I agree the fees would of eaten into saving $1 daily where as if someone saved up that $1 each day and then put it into Bitcoin at the end of each month might do a little better but then you hope that the price remains the same for the whole month. I think the idea of saving $1 a day in Bitcoin is a smart choice as it has paid dividends right now and I think it will even in the long term as most of us believe that Bitcoin is going a lot higher then it is now.
I think the analogy of investing 1$ every day for the next 5 years is only durable if you create a common pot to store that money.Otherwise, if you buy in every time you will get wrecked in fees. At least after the 5 year period your pot will be able to withstand the fees much better.
But, I think what's important here is not so much the logistics of saving $1 every day and how and where to put it, but more about the need to learn how to finance yourself better, and that investment is the way. And, that's the core of the message.
But, I think what's important here is not so much the logistics of saving $1 every day and how and where to put it, but more about the need to learn how to finance yourself better, and that investment is the way. And, that's the core of the message.
It is really hard for us to see the benefits that the article mentioned because it is just a very small amount of money every day you spend on Bitcoin but its value is huge. I really got a lot of experience and was helpful in the article.
This thread was posted almost an year back and now the values would have changed a lot. As per OP, if we had invested $1 every day in Bitcoin from 2015 to 2020, then we could have ended up with a profit of $20,405 from an investment of $1,858. But back then, the exchange rate was $9,276 per coin. It has increased to $32,646.59 as of now. Since nothing else has changed, the equation becomes something like this:
A profit of $71,815 from an investment of $1,858. That is an ROI of 3,865%.
A profit of $71,815 from an investment of $1,858. That is an ROI of 3,865%.
Best way is to buy low sell high.
Buy not low low but buy just low
Buy not low low but buy just low
These words are appropriate upto a certain limit.
If you don’t have the capacity to bear losses then it’s better to be stay out of dreaming of keeping high balance in BTC.
Predicting the price of the coin is not a easy task, you need to give damn good calculation tactis to predict the price.
Moreover the price also depends on user’s usage so it’s really hard to say anything.
So at last there is no fixed time to wait for the perfect opportunity, buy whenever you can.
Best way is to buy low sell high.
Buy not low low but buy just low
Buy not low low but buy just low
This is a great idea. But I miss this opportunity. So now I am wondering where Bitcoin will go in the future. Correcting all the previous mistakes and now I have a plan for Bitcoin. Now every month I buy a few dollars worth of bitcoin. Now if I buy $ 100 worth of Bitcoin a month, how many dollars will I have after five years? Now that's how I think. Hopefully, I will get good results this time by learning from past mistakes.
Yes, you are quite right, lots of people made mistakes of such kind, especially nowadays when they see the price of Bitcoin now. But they would not regret at all in case the BTC's price was like in 2019, for example. It is not so easy to predict the future situation on the market and everyone should understand this and remember that the today's situation may be just quite another in some months or a year. And it may change like in positive way, so it may change in the decreasing as well. But it may also bring the profit in case the price will be increasing.
For others it could be compare as buying cigarettes or coffee everyday,
But $1 could also be enough for some people to feed their family those who are struggling to survive each day.
I personally like to follow your path on investing daily in crypto but I think it is better to keep it on Fiat first then wait for the price to get low so you could have more BTC.
But $1 could also be enough for some people to feed their family those who are struggling to survive each day.
I personally like to follow your path on investing daily in crypto but I think it is better to keep it on Fiat first then wait for the price to get low so you could have more BTC.
Well acener, anyone who is choosing an appropriate amount to invest into BTC whether it is averaging out to $1 per day or some other amount that they believe is reasonable, needs to be assuring that they are choosing an amount that is clearly within a reasonable budget for them and sustainable... and they should be makoing sure to have their expenses covered.. so in that sense, they need to have an extra amount that is dedicated towards investing in BTC and not anticipating to be used in their expenses (even emergency expenses) for several years into the future.. hopefully 4 years or longer, but even 10, 20 or 30 years may well be reasonable for longer term planners and/or people who are young enough to plan that far into the future of their investments.
Personally, I do believe that once the budget is established, then such budget could be apportioned to also accomplish some attempt to buy on dips as well as continuing to invest on a regular basis (no matter what since none of us can really be sure about whether there will be a dip nor how much of a dip there will be if such a dip comes). So personally I do believe that there are three categories of money that has been dedicated for investing and those are amounts dedicated for 1) buying right away, 2) DCAing and 3) buying on dips... and once anyone figures out their situation they can also figure out what works for them within those three categories of ongoingly accumulating a BTC position.
For others it could be compare as buying cigarettes or coffee everyday,
But $1 could also be enough for some people to feed their family those who are struggling to survive each day.
I personally like to follow your path on investing daily in crypto but I think it is better to keep it on Fiat first then wait for the price to get low so you could have more BTC.
But $1 could also be enough for some people to feed their family those who are struggling to survive each day.
I personally like to follow your path on investing daily in crypto but I think it is better to keep it on Fiat first then wait for the price to get low so you could have more BTC.
If you do have that kind of mindset on letting for it to sit on fiat then you are missing out lots of potential on gaining profit because we know bitcoin can move out high
in year to year basis.When you will get in? If the price is already high? Better to start early and $1 wont really be that hard on everyday save up but the point you had
said that not all do have the capacity on doing that because not all parts of the world is having the same financial state or situation.
There are indeed people who do have a hard time on even just having that 1 bucks to save on but rather it would be used for their daily survival.
For others it could be compare as buying cigarettes or coffee everyday,
But $1 could also be enough for some people to feed their family those who are struggling to survive each day.
I personally like to follow your path on investing daily in crypto but I think it is better to keep it on Fiat first then wait for the price to get low so you could have more BTC.
But $1 could also be enough for some people to feed their family those who are struggling to survive each day.
I personally like to follow your path on investing daily in crypto but I think it is better to keep it on Fiat first then wait for the price to get low so you could have more BTC.
What does this link have to do with the topic of this thread?
By the way, anyone still entering into bitcoin should continue with his/her practice of investing into BTC on a regular basis no matter the direction of the BTC price..
Surely some of us recommend weekly rather than daily purchases, but surely sometimes you may be able to strategize the timing of your purchases or spread it through the week.l but to try to have some kind of budget in which you are regularly buying whether it ends up being deployed on a weekly basis or some other timeline that feels suitable to your assessment of your particular situation.
What if you also not just invest any time but you try to buy the dips could it help ?
If it was so simple, then everyone would have done that and become millionaires. Ideally, it is never recommended to purchase any asset, when it's price is falling. In the stock market, there is even a saying which goes like this: "Don't catch a falling knife". The purchase should be done when the recovery phase is going on, and not when the prices are falling like a rock. But then, there are several strategies, and purchasing for a fixed amount every day is one of them.
I agree with you but even if the price falls everyday it Should pump anyhow because that's the nature of the market if I am not wrong, but I am not saying to start buy from tomorrow. Let's say I am investing 1$ from BTC price goes to 5k in upcoming days I started and price is dropping slowly but I will not stop even if the price goes to 3k, when the price gradually increases then definitely I can make more money where loss can be calculated as profit 3times. Just have a try I believe it will surely work and we can make more profit.
things like that are very interesting and good, because the person applies a good and detailed savings system. I think not everyone can do that because it takes a long time and patience
While investing in various stocks and mutual funds, it is possible to have a SIP system (Systematic Investment Plan). You can just specify the amount that you want to invest and the broker will do the rest for you. But such things are not possible with cryptocurrency, as you need to do everything on your own. And when this method is not automated, there is always the possibility that emotions will come to interfere and at some point you will deviate from the fixed plan.
things like that are very interesting and good, because the person applies a good and detailed savings system. I think not everyone can do that because it takes a long time and patience
What if you also not just invest any time but you try to buy the dips could it help ?
If it was so simple, then everyone would have done that and become millionaires. Ideally, it is never recommended to purchase any asset, when it's price is falling. In the stock market, there is even a saying which goes like this: "Don't catch a falling knife". The purchase should be done when the recovery phase is going on, and not when the prices are falling like a rock. But then, there are several strategies, and purchasing for a fixed amount every day is one of them.
There are always strategy that being build from time to time.
You can continue buying such assets ifyou fully believe that there's something big that will happen along the way, many people around
trading market creates there respective ventures and expect that day will come and what they've invest with will bring them decent amount of profits.
What if you also not just invest any time but you try to buy the dips could it help ?
If it was so simple, then everyone would have done that and become millionaires. Ideally, it is never recommended to purchase any asset, when it's price is falling. In the stock market, there is even a saying which goes like this: "Don't catch a falling knife". The purchase should be done when the recovery phase is going on, and not when the prices are falling like a rock. But then, there are several strategies, and purchasing for a fixed amount every day is one of them.
What if you also not just invest any time but you try to buy the dips could it help ?
That's a smart way of investing as it doesn't put much pressure on you financially since you're adding slowly to your stack, the other way to do this would be to always put some percentage of your monthly income like 5% aside for buying Bitcoin and keep it in your personal wallet, it's just like saving money just in the form of crypto.
Yes, it's true but not efficient, it's just an illustration of a way to accumulate bitcoin in 5 years which means $365/year multiply by 5 = $1,825. However, if you can spend $100-$200 per 3 months or 6 months to buy Bitcoin at a lower price will be worthwhile than $1/day. The main idea of course to hold bitcoin as much as possible and the challenge is to hold it for 5 years, trading is a good way to increase our coins but may be problematic for some people who buy or sell at the wrong time.
very good idea, but very difficult to do, because I prefer short-term trading do not like investing for many years. I think waiting too long is very boring. prefer to make profit every day. Come to think of it, the result was a lot of saving over five years, but I'm not the type to wait for five years,
been doing what you have mentioned above this year. 2-10% a day is enough for me. but every time I saw the price, I will regret some of my decisions. Because I can get more profit just by doing nothing, rather than pointing my eye to the chart. I think the most profitable way in this case still investing, not short-term trading.
however, it could be different if you talk about a different coin.
it could be more profitable for short term trading.
let say defi coin, since 2020 is defi year.
if you have early information at the early stage of defi this year, you could easily get at 3-10x profits for 1 project.
all people did a hit and run investment on most of the defi projects.
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