Investing 1$ every day in bitcoin over the last five years - page 8.

qory

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Quote from: Asuspawer09 on February 03, 2020, 12:50:14 PM

Just a Fact that investing in 1$ in bitcoin every day over the last five years could actually give you a profit of $20,405, just investing or spending over $1,858 in bitcoin...
Of course, this doesn't involve transaction fee but still, it was just 1$ investment every day or just like buying a coffee every day you could already accumulated more than $20k of bitcoin.

Watch the video here:
https://twitter.com/JamesTodaroMD/status/1223670320541900800
Source :
https://bitcoinist.com/if-youd-invested-1-a-day-in-bitcoin-over-the-last-5-years/

Available during bitcoin have lower price you could purchase or invest only $1 every day, but how come when bitcoin cross more than $7k how worth with $1 for investing in bitcoin, although five years is not worth during bitcoin have on the top price, maybe when bitcoin still under $300 is very higher value investing about $1 every day.

o_e_l_e_o

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Quote from: LoyceMobile on February 08, 2020, 12:04:53 PM

LoyceV make this!

Already exists: https://dcabtc.com/

Asuspawer09

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Quote from: Darker45 on February 08, 2020, 11:03:15 PM

Quote from: bryant.coleman on February 08, 2020, 10:30:49 PM

Going by this method, if you invest $1 per day for 5 years, you will be left with a profit of $20,405 (on investment of $1,858).

I am someone who had the fortune of purchasing Bitcoin in its infancy. When I purchased BTC, the exchange rate was around $10 per coin (by the end of 2012). If I had held on to my investment, then my $150 investment could have grown to $150,000.

What I am trying to point out here is that you need to invest in Bitcoin as soon as you can, using whatever amount that you can afford. The exchange rates are going to rise with every passing day, and the daily investment method will not be very effective in that case.

Practicality-wise, I don't think it is really a nice strategy to invest in Bitcoin on a daily basis. Yes, it is profitable. Of course, because Bitcoin has always been consistently rising in the longer term, especially if you started investing in it when the price was less than 50$ per BTC. But, as for me, I'd prefer to save up that $1 daily while monitoring the price of Bitcoin. That saving accumulates over time and by the time the price of BTC dips I would buy and leave it whether the price dips even more or rise.

You are very lucky you got to know Bitcoin very early. I came in crypto a bit late. I had my first Bitcoins in 2016. It was cheap compared to its current price but at that time it was already considered expensive because it was compared to its prices years earlier. It was priced at hundreds of USD but instead of acquiring much, I sold them little by little and started buying back as the price is also rising. Who would have thought that BTC would even hit ~$20,000? But I have now learned my lessons and developed stronger hands.

You have your point investing your bitcoin when the market is on the downside is surely more of a good strategy than investing in bitcoin on a daily basis the market could completely decrease your profit because the market is moving and so volatile even in every moment so that also be a disadvantage. But this could be an easier way to invest since we cannot invest a big amount of money all the time sometimes we don't have money to invest to it could be a great thing if you could save your money and just invests in bitcoin when the market is a dump.

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Quote from: vella85 on February 08, 2020, 07:06:26 PM

For the long term this is a very good idea as most of us expect Bitcoin to rise a lot higher then it is today. Another suggestion would be to also claim Bitcoin from faucets and stack up them sats no matter how much you can claim. People think its a waste of time however people were saying this years ago when BTC was $200 and you could claim a few hundred sats to over 1k sats per claim. Now that is worth a lot more so if you believe Bitcoin is going to 100k or 1 million then putting $1 a day into BTC and claiming from faucets can be well worth it in the long term. By the way you could also help boost your Bitcoin holdings by putting them into a trusted site where you can earn some interest on your Bitcoin. Remember that every little bit helps and adds up fast if you have the right mind set to stick with it and be patient.

Well, this idea will become a good idea on the condition that the value of bitcoin remained low for those five years but we've been observing bitcoin for a long time, the value of each year tends to go up or sometimes if it goes down, that's still a relatively high price, and with the savings of just $1 per day for bitcoin, we cannot have the optimal profit with this strategy, this strategy has not worked right now. $1 is too little, instead of being so patient, why don't we try to invest more in the times when bitcoin has a low price, I believe we can see a lot of such times in five years

bryant.coleman

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Quote from: KnightElite on February 08, 2020, 10:57:16 PM

That strategy is called dollar cost averaging but it is daily basis, yes it is risky but that kind of strategy is effective especially if the market have growth. I do not prefer investing per day because of the fees, it is better if it is on weekly basis to lessen the fees. I tried to do Dollar Cost Averaging before but it is in stock market, I earned around 60% in less than 1 year by doing DCA. I already planning to do it also in the cryptocurrency market in this current year.

Dollar cost averaging is perfectly suited for the stock market. I have also tried it, and gained from it. But the same can't be said about the cryptocurrency market, because it is very different in all aspects from the stock market. In the stock market, you can easily calculate the fair valuation of a stock, based on its financials and future growth potential. You can check EPS, P/E.etc for the stocks to calculate this. But no such parameters are available for Bitcoin. I am not saying that DCA can't be used in the cryptocurrency market, but I am just hinting that it may not be the perfect strategy there.

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Quote from: bryant.coleman on February 08, 2020, 10:30:49 PM

Going by this method, if you invest $1 per day for 5 years, you will be left with a profit of $20,405 (on investment of $1,858).

I am someone who had the fortune of purchasing Bitcoin in its infancy. When I purchased BTC, the exchange rate was around $10 per coin (by the end of 2012). If I had held on to my investment, then my $150 investment could have grown to $150,000.

What I am trying to point out here is that you need to invest in Bitcoin as soon as you can, using whatever amount that you can afford. The exchange rates are going to rise with every passing day, and the daily investment method will not be very effective in that case.

Practicality-wise, I don't think it is really a nice strategy to invest in Bitcoin on a daily basis. Yes, it is profitable. Of course, because Bitcoin has always been consistently rising in the longer term, especially if you started investing in it when the price was less than 50$ per BTC. But, as for me, I'd prefer to save up that $1 daily while monitoring the price of Bitcoin. That saving accumulates over time and by the time the price of BTC dips I would buy and leave it whether the price dips even more or rise.

You are very lucky you got to know Bitcoin very early. I came in crypto a bit late. I had my first Bitcoins in 2016. It was cheap compared to its current price but at that time it was already considered expensive because it was compared to its prices years earlier. It was priced at hundreds of USD but instead of acquiring much, I sold them little by little and started buying back as the price is also rising. Who would have thought that BTC would even hit ~$20,000? But I have now learned my lessons and developed stronger hands.

KnightElite

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Quote from: bryant.coleman on February 08, 2020, 10:30:49 PM

Going by this method, if you invest $1 per day for 5 years, you will be left with a profit of $20,405 (on investment of $1,858).

I am someone who had the fortune of purchasing Bitcoin in its infancy. When I purchased BTC, the exchange rate was around $10 per coin (by the end of 2012). If I had held on to my investment, then my $150 investment could have grown to $150,000.

What I am trying to point out here is that you need to invest in Bitcoin as soon as you can, using whatever amount that you can afford. The exchange rates are going to rise with every passing day, and the daily investment method will not be very effective in that case.

That strategy is called dollar cost averaging but it is daily basis, yes it is risky but that kind of strategy is effective especially if the market have growth. I do not prefer investing per day because of the fees, it is better if it is on weekly basis to lessen the fees. I tried to do Dollar Cost Averaging before but it is in stock market, I earned around 60% in less than 1 year by doing DCA. I already planning to do it also in the cryptocurrency market in this current year.

bryant.coleman

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Going by this method, if you invest $1 per day for 5 years, you will be left with a profit of $20,405 (on investment of $1,858).

I am someone who had the fortune of purchasing Bitcoin in its infancy. When I purchased BTC, the exchange rate was around $10 per coin (by the end of 2012). If I had held on to my investment, then my $150 investment could have grown to $150,000.

What I am trying to point out here is that you need to invest in Bitcoin as soon as you can, using whatever amount that you can afford. The exchange rates are going to rise with every passing day, and the daily investment method will not be very effective in that case.

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Quote from: LoyceMobile on February 08, 2020, 12:04:53 PM

I'd like to see this as a graph, with a rolling starting date, up to today. This should show when was the best time to start investing a dollar per day, but I'd be especially interested to see if there's a starting date that puts you at a loss after 5 years.

LoyceV make this!

Exactly, it would be nice to see how this looks like when it's drawn, in.some graph and how this investment was developing. Of course, there were good times and bad times for Bitcoin price over that five years and it would be nice to see how that influenced the investment in general.
I have to say it's an interesting idea to have such disciplined way of investment of exact same amount during rather long period of time, I don't think there are many such investors.

vella85

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For the long term this is a very good idea as most of us expect Bitcoin to rise a lot higher then it is today. Another suggestion would be to also claim Bitcoin from faucets and stack up them sats no matter how much you can claim. People think its a waste of time however people were saying this years ago when BTC was $200 and you could claim a few hundred sats to over 1k sats per claim. Now that is worth a lot more so if you believe Bitcoin is going to 100k or 1 million then putting $1 a day into BTC and claiming from faucets can be well worth it in the long term. By the way you could also help boost your Bitcoin holdings by putting them into a trusted site where you can earn some interest on your Bitcoin. Remember that every little bit helps and adds up fast if you have the right mind set to stick with it and be patient.

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Quote from: romero121 on February 04, 2020, 09:29:01 PM

No one could've followed these kind of calculated savings on bitcoin for such a long time period of five years. Before five years people weren't much aware of bitcoin as now. Maybe from now onwards saving $10 in bitcoin considering the 2024 halving will get good earning out of it.

Same as bitcoin I believe there more chances for the top listed altcoins to give good profit out of the investment. Small droplets make an reservoir. With bitcoin same can be experienced with the small amount of regular savings giving a big return.

Of course it could have been done, there are many people in the forum that invest in bitcoin whatever they have left of their paycheck every month, that basically amount to the same strategy that the OP is proposing with the difference that instead of doing daily transactions you do them monthly, and even with the high prices of bitcoin this is a strategy that will keep working as the price of bitcoin cannot do anything but to go up in the long term as the halvings come and governments keep printing money.

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I'd like to see this as a graph, with a rolling starting date, up to today. This should show when was the best time to start investing a dollar per day, but I'd be especially interested to see if there's a starting date that puts you at a loss after 5 years.

LoyceV make this!

sniveling

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This is a simple accumulation of funds. Many spend $ 1 on trifles every day, but it turns out that for 5 years collecting at such a small amount you can get an excellent profit in Bitcoin

Personally, I don't see the point in investing $1 every day in Bitcoin, it's better to save and invest more money at the bottom of Bitcoin, for example $50-100.

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Quote from: ScamViruS on February 08, 2020, 11:27:41 AM

Quote from: Artemis3 on February 03, 2020, 07:47:38 PM

Quote from: ScamViruS on February 03, 2020, 02:54:22 PM

~snip

It should be less than if you invested 100$ 5 years ago. 5 years ago bitcoin was like 500ish $, so of course what OP posted looks amazing, but past performance is certainly not indicative of the future. In fact, if you have paid attention, bitcoin increase in value is slowing down overtime. Yes it still goes up, but less and less.

I think I still have a chance. Because I buy every month with my extra money. I bought it like this before. But unfortunately I lost almost all Bitcoin. I'm definitely thinking of long term buying. Hoping that something good will return for me in the future. Last year when bitcoin was $ 5000. Since then I've been buying. My target is to buy until ATH. We all know the future of Bitcoin is bright. So why should I not buy? There is still time left to create new history.

Every day is a chance as long as you believe in bitcoin about its future, Many of us believe that bitcoin will let us earn a lot of profit someday and It happened to me on ATH around last quarter of 2017, Everyone is crazy during the bull run before and it makes everyone wants to buy bitcoin then a bear market appears, That's the point that many starters want to earn profit got their mind steered up and blame bitcoin for the lose. We need to make a smart move on investing and I think investing 1$ per day is a good move if it is for a long hold. I am starting up to save as much bitcoin as I can. Halving will come up soon and I'm ready for the result whether it is a bull market or a bear market.

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Quote from: Artemis3 on February 03, 2020, 07:47:38 PM

Quote from: ScamViruS on February 03, 2020, 02:54:22 PM

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.

It should be less than if you invested 100$ 5 years ago. 5 years ago bitcoin was like 500ish $, so of course what OP posted looks amazing, but past performance is certainly not indicative of the future. In fact, if you have paid attention, bitcoin increase in value is slowing down overtime. Yes it still goes up, but less and less.

I think I still have a chance. Because I buy every month with my extra money. I bought it like this before. But unfortunately I lost almost all Bitcoin. I'm definitely thinking of long term buying. Hoping that something good will return for me in the future. Last year when bitcoin was $ 5000. Since then I've been buying. My target is to buy until ATH. We all know the future of Bitcoin is bright. So why should I not buy? There is still time left to create new history.

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Quote from: pacman7331 on February 08, 2020, 08:43:21 AM

This is an extraordinary idea to make bigger things from a tiny way! Even if we follow this idea from today then in 2025, we will have huge profit for sure. I wish I can convert Bitcoin easily without fee or with less fee. Because in my country dealing Bitcoin openly is a crime nowadays.

It is sad to hear. I am very sorry for the people that live in countries prohibited Bitcoin.
However, you are not attached to the place of residence and you can move, then the idea of accumulating $ 1 per day will become real and you will be able to invest =)

pacman7331

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This is an extraordinary idea to make bigger things from a tiny way! Even if we follow this idea from today then in 2025, we will have huge profit for sure. I wish I can convert Bitcoin easily without fee or with less fee. Because in my country dealing Bitcoin openly is a crime nowadays.

Anonylz

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It is like putting a $ in a piggy bank everyday for five years, this is a very minor amount anyone can easily spend without even blinking,
The difference between putting money on a piggy bank and buying btc is former will accumulate over without increase in value, the latter will accumulate and also increase in value overtime, since the last 5 years btc has experienced a tremendous rise in price no doubt about it,
It is a good idea of buying btc in a very small quantity especially for those who are not willing to invest a lump sum.

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Quote from: kayvie on February 08, 2020, 01:07:22 AM

Quote from: mauriek on February 07, 2020, 11:51:16 PM

Quote from: lepbagong on February 07, 2020, 07:22:02 PM

-snip

I think even though the price of Bitcoin is soaring high, but if we only spend 1 $ every day I think it does not burden our abilities. This is a good idea to save Bitcoin in the future because we know many believe that the price of Bitcoin will increase in the future. But of course you have other money left in your wallet for daily needs.

Yes, this may be a good idea to save money for future purposes. The price of bitcoin is increasing over the years so if this has been done over the last five years, the value of that investment will be in a better value.
And for your concern about the money that will be left in the wallet, I think $1 is not that high that you actually need to think about the money you need to spend.

1$ was indeed not a high value(for some places) but the problem is we don't know way back then that Bitcoin would become successful to gain such pretty good value. And if someone foresight or had come to an idea of investing it then he's probably a millionaire now, but the truth is, even if there's a person who did that there's a chance for him to feel panic especially as the market drown that everyone mostly thinks it is over for Bitcoin and other cryptocurrencies.

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Quote from: Asuspawer09 on February 03, 2020, 12:50:14 PM

Just a Fact that investing in 1$ in bitcoin every day over the last five years could actually give you a profit of $20,405, just investing or spending over $1,858 in bitcoin...
Of course, this doesn't involve transaction fee but still, it was just 1$ investment every day or just like buying a coffee every day you could already accumulated more than $20k of bitcoin.

Watch the video here:
https://twitter.com/JamesTodaroMD/status/1223670320541900800
Source :
https://bitcoinist.com/if-youd-invested-1-a-day-in-bitcoin-over-the-last-5-years/

People do not act like that. There are two ways - to invest too little or huge amounts at once, no one invests gradually. But your opinion has a great sense, investing of only $1 per day you will have good capital after 5 years

Topic: Investing 1$ every day in bitcoin over the last five years - page 8. (Read 5053 times)