Topic: My bitcoin journey has started again - page 4. (Read 1346 times)

When it comes to investment then this is really something that would really be that in private or personal things on which we dont know if a certain individual did really make out some decisions on continuing his Bitcoin investment or did really just simply stop. This would really be situational kind of condition on which you would neither be that making investment or would really be just completely stop due  to some various
circumstances. This is why it would really be that always that depending whether someone is really that taking up some crypto investment or not but we do know on what are the chances and potential that it could possibly give when we do speak about the future. Although it wont really be that an assured thing but at least we do have already the glimpse basing up into its history.

It would really be that always depending on someones personal choice and decisions on life on which we know that not all would really be that making such investment decisions into something which is volatile
and risky. Some might really be that getting rid or avoiding it but there are ones who could really be able to bare up on the possible risks that they would be able to obtain.

If is impossible and for private and security purpose then why would they come to the public to inform us that they have purchased Bitcoin, and since they have done that they should have updating us the level of their Bitcoin investment status. And not only to come here and announce their investment. I am not only talking about the Op here but others.

And that is why I said it before, it is a decision of the author to decide. But my argument is that since they have make it publicly, they should update the threads time to time.

It should be, but it feels impossible because investments are private and also very confidential for security and comfort.
And as the OP mentioned, he would continue investing if the funds were there. So we don't know whether he bought Bitcoin back or not, and he also experienced regret at that time regarding Bitcoin and he came back to improve himself and try not to lose a second chance at Bitcoin.
And I think OP has made other purchases to increase his holdings but we don't know by how much. And I hope OP continues to make purchases when he has extra money, and stays consistent with his long-term plans for bitcoin.

It is good to update the thread for how far he has gone for the investment. But that should be a personal decision,  and if he will update the thread for the hodling then we will also know if he is a long term hodler or a short term holder, and really as you said, many people would invest and tell us that they have started the journey and we would not hear anything from them again. And some of them for the fear of losing the funds when the price goes down and sell them off or some sell them off when the price just bump small. It is not bad for op to update his investment status.

Also curious about it too, did OP add some more or just let the first investment sit on his wallet.
How much did he gain from his investment so far?

Tis the tough road of Bitcoin HODL unless you have the discipline of a country like El Salvador with the Bukele tracker where you track the price of Bitcoin over time and the discipline to rebuy you can take quite the loss.
https://nayibtracker.com/

That position was pretty bad as they bought during the 70,000 peak and average bought down to the current market price if they sold like they were told too they would have taken quite the hit. But they didn't are still holding and while its only up a million dollars now on the position hey at least its positive again, and they have no plans to sell.

So don't let the short money get in the way of making good money in the long run.
I guess the lesson from El Salvador is to not DCA only for 1 to 2 years but keep the DCA going for multiple years and with split amounts eventually you will get back to green over time.
They did start in 2021 though so 3 years and going however point is that DCA does work.

Exactly.   We get a lot of seemingly newbie bitcoiners who enter their bitcoin journey with supposed BIG plans to buy bitcoin and to be invested in bitcoin for years and years and years, but then we frequently seem to end up with radio silence.. they just poof disappear and fail/refuse to continue to update, which does not necessarily mean they ended up with losses, or even failure to gain by selling too much too early, but it does seem to indicate some lack of enthusiasm to continue to discuss the employment of some kind of a longer term strategy.. and surely if OP had started with $10 invested, then surely he could continue with $10 per week or $10 per month, and likely still be in profits.

Surely the situations of people change in ways in which maybe they either come across some difficulties to invest or maybe they have extra money that they can put in, and so long as they do not sell everything, then maybe the story remains interesting (at least for me), and personally I am not as sympathetic to the ones who buy and sell (trade) as opposed to engaging in longer term BTC accumulation strategies, even if some weeks (or months) might result in smaller or larger amounts of BTC bought.. and also I could give less than two shits if their BTC portfolio is in profits or in the negative in the short term as long as they continue to accumulate BTC with the passage of time, and then let's see where that kind of persistence takes them (of course variation in the circumstances of people) 4-10 years or more down the road.

Part of the earlier days in the bitcoin journey is likely filled with struggles to accumulate and even tough decisions about when to accumulate and how much, and those kinds of decisions with subsequent actions have consequences and repercussions down the road.  So even if we might not be trying to judge the mistakes of anyone, it is quite likely that many of us make mistakes along the way, so then anyone who had been consistently accumulating BTC for 4-10 years or longer, might go back and look at his own performance in terms of whether his results came close to a DCA kind of approach or was his approach weaker or stronger than a somewhat systematized DCA approach.

Surely any of the DCA websites show us that the longer that we have been DCAing into BTC, then the more likely that our BTC levels and our profits are going to start to become meaningful, and we can see that from the date that Op started this thread until today, if OP had been investing $10 per week, he would have had invested $130 and accumulated 0.00364 BTC (worth about $155) (364k satoshis), so an average cost of $35,714 per BTC, so surely he is currently in profits with that system, but he still would not have had accumulated very many BTC with such a short period of time and such a small DCA amount.

Another thing is that past performance does not guarantee future results, but if we might say that our goal is 4-10 years or longer to be investing into BTC, which surely would not even mean that we would necessarily stop investing into BTC until we were able to get to a meaningful level in which it makes sense to stop investing and maybe even to go into a kind of maintenance stage and then maybe later to enter into a kind of liquidation stage.

So if we choose a longer time period and if Op (or anyone else) had started DCA investing into BTC 6 years earlier than his first BTC purchase, then he would have had invested right around $3,260 into BTC with a total accumulation of 0.27925 BTC (worth about $11,868) with an average cost per BTC of right around $11,675 - and so nearly 4x in profits.. but still without a considerably large amount of money, but could be very helpful for improving standard of living and having some investment cushion.. but still may well not be to retirement levels, but if a person is already in his 60s, he might not be ready, willing and able to work or earn income like he was able to do in his youth... so he has some potential supplemental income.. and it will depend upon where he is at in life in regards to if he continues to buy BTC or to take some other strategy in regards to his BTC stash - so it seems better to have options rather than not.

Since it is 3 months already, I want OP to give some updates regarding his investment situation because I don't want to assume that he is now in a huge profit. But the question is if he still holding till now or if he might sell them when the price of Bitcoin reaches $40k last month. Because it was not new to us here and we've been hearing the same stories and sadly, some of them just quit after a few days after investing as they can't bear to see their portfolio dump as the market crisis arises.

We can say it is a good idea for someone to start to invest Bitcoin but the question is how it ends --profiting or losing?

The increasing number of people who believe in Bitcoin for investing is in love with the positive trend. I think you should post this a little on your personal social media. Maybe your friends or online friends are interested in crypto from what you post, you will bring them in and benefit in some way. but it's good to teach him sincerely as a friend. 2024 is a new path for bitcoin anyone is not too late for this year.

A journey of a thousand miles begins with a step, nothing goods comes too easy so when accumulating Bitcoin we have to get more detailed by sacrificing little time to learn about Bitcoin. you can see people who wants to invest into Bitcoin but due to financial instability cant meet up too easily so basically have to adopt the DCA strategy like you said, set a budget and calculate how long it will take to accomplish, become determined and by no any means alter your investment it takes a lot of sacrifice as to achieve what we want.

It's great that you are taking steps towards investing in your future! It doesn't matter if your investment is small or big. Invest in Bitcoin consistently to capitalize on profits and build your portfolio over time. Consistency and patience are key when it comes to investing, and even small contributions can make a big difference over time. Keep learning and stay informed about your investments, and don't get discouraged during market fluctuations. Focus on your long-term goals. By accumulating Bitcoins regularly, you can benefit from dollar-cost averaging and accumulate substantial amounts in the future.

Got it! Jumping into Bitcoin with what you've got is a brave move. HODLing for the long haul could really pay off – many have been there, done that, and seen it work. Keep at it, and who knows, you might just hit the jackpot down the line. Fingers crossed for you!

The OP must now be happy that he has started investing in bitcoin. And I hope he still holds the bitcoin he bought. Because if he still holds it now then he should be able to smile broadly seeing the portfolio growth which continues to rise because today bitcoin has also penetrated back to a higher price. That is, currently the price of bitcoin is above 45k USD and yes bitcoin sometimes rises quickly while people wait for the decline to accumulate more. That's why when we intend to accumulate bitcoins we just have to do it without hesitation. Especially if we invest for the long term. Then we don't have to worry about the current price.

This is a great move Op. You're on your way to financial freedom. A journey of a thousand miles only begins with a step. If you're able to invest this same amount at least ones or twice a month bro a swear you'll have every right to be proud of yourself in the nearest future. Just remember, with patience, you'll cook stone eh go soften. Congratulations 🎉 it isn't easy.

In as much as you have invested in Bitcoin before but had an ugly experience I hope you have now you've learnt the necessary things that most guide you through your entire time of holding. I supposed you sold out your Bitcoin for personal reason maybe as a result of not putting other expenses in place.

Hence make your investment time more stable by having an emergency fund that can serve you well for all your necessary life activities. As time goes on prepared yourself not to be keeping you holdings on exchanges or third-parties especially when you have a good quantity of Bitcoin already even it's not too much but as soon as you have an amount that is worth more the half a thousand or less than half a thousand then you should think of having a self custodial wallet to be in control of your investment. As most have suggested you should increase your stash also be do not be in a haste for quick profit or as most people night suggest you trade don't get into gambling with your funds.

If the investment is less, there will be less return. But there are many investors who are interested in investing but because of their lack of knowledge they do not dare to invest there. If a person can gain good knowledge in Bitcoin then he will definitely try to increase his investment. I think those who are investing less early on will automatically grow their portfolios when they start to fully believe in Bitcoin. And for those who have no good financial ability, DCA is a good option for them. Those who are interested in investing in bitcoins will surely reach their goals.

If we try it with a small amount, of course we should never expect big profits. We have to be patient with the investments we make and also increase our knowledge about Bitcoin so that we can increase the amount we will invest to be able to enjoy bigger profits than before.
It is true that there are some people who have the desire to invest but they are not yet able to do so because there are still needs that must be met and starting with a small amount of capital will certainly be able to learn more about investment, of course this is very good for our future investments.

congratulations with your investments in bitcoin as now you have just started there is a long way to go so try to consider adding more and more as time passes by specially when there is a chance of buying in discounted prices.
we might not be seeing this happening any time soon but there will be in the next couple of months.

It's fantastic that you embarked on the bitcoin investment adventure, and even more so, huge congratulations on grasping the idea and accepting the risk involved. Nonetheless, you made a sizable investment since, in my opinion, this is the maximum you can currently afford. You will quickly amass a certain quantity of bitcoin if you keep doing this. Remember to always invest an amount you can afford to lose when making recurring bitcoin investments of this size. This is simply a reminder, even though I think you're in the game and you understand important things to watch out for. I hope your path is filled with luck.


Indeed. It's excellent that you informed him about the cryptocurrency market's extreme volatility and potential for growth. That is not something the OP should look at and assume he has made money on. But given the price we have been anticipating for a very long time, those returns are minuscule in comparison. Therefore, I believe the OP should not be persuaded by any slight variations to invest for the long term and to receive his desired outcome.

Since you invest in Bitcoin, you never worry about its price, rather you keep it for a long time. If you plan to buy and Hodl bitcoins for a long time, you can definitely make a lot of money at some point. Since you have invested Bitcoin at this point, you will be motivated to buy more and buy more. When you buy and hold a larger fraction of Bitcoin, you will get more profit if you hold it for a longer period of time. So you buy more bitcoin without thinking and hold only for earning purpose.