Topic: My Past nine months bitcoin journey - page 10. (Read 2935 times)

I am not good at trading but still feeling good about this all because if you are doing this all for long term then surely its price is not factor for you in long run this can give you some good profit even all investments and trading have good risk, but this type investment is always pay some good dividend as bitcoin is doing we have some good sentiments about this every year its value is increasing and its bringing good profit for investor just keep one thing in mind that you need to hold this for long purpose never feel frustrate with these corrections which are happening regularly because its nature of this crypto.

I am also doing some for my future and now keeping some funds in my bitcoin wallet and my target is I will never sell this all until I have some very good price like $150K to $200K because this can secure my future in good way.

What a nice and good for health strategy. You made so right decision when decided to invest in BTC money instead of wasting them on junk food and were really lucky to make this when the price were decreasing and even dumped to 30K. Didn’t you have at this moment an extremely huge desire to invest by this price (30K) more money in BTC, perhaps like an investment in advance for a few weeks? Isn’t this a good idea to invest in advance money you are already planning to invest in future, if you see a good exchange rate now? The move of your experiment will be violated a bit but trial results will bring you more satoshi.

I think a good tool to check our asset portfolio is: https://coinmarketcap.com/portfolio-tracker/

Currently the value of crypto investments is around $2800 or up about 40% when I bought 2 months ago, the opportunity to continue to profit is certainly very large so I will hold on as long as I can.

There is something I can learn from your story. Small savings won't make a difference to our current lifestyle. But how will it affect our future?
For those who say no money to invest in bitcoin, they will realize joining bitcoin is not difficult
For those familiar with bitcoin, it's a golden opportunity to save for their future.
However, as long as we are consistent and responsible to carry out what was planned from the beginning, we will go into every route according to what we have planned, namely investing in bitcoin. .
Of course, the decision to invest in bitcoin is also not easy, because we have to be really brave and willing to take the risk of price fluctuations and also the money we put into the investment.

Without getting into too many details about your shitcoin mistakes/exploits, what are you doing Reatim that relates to the topic of this thread in regards to bitcoin?  Are you creating some kind of a bitcoin accumulation plan that involves DCA or some other BTC accumulation method?

Seems that the topic of this thread involves a decision to engage in ongoing action that involves buying BTC on a regular basis, even if the amounts of each purchase is NOT a lot of money, over time the ongoing investment into BTC can pay off well, especially if there is a longer investment timeline to be able to see the growth over time.

Another aspect that might not have been recognized by OP remains the UPs and DOWNs that happen while investing into bitcoin, and surely it seemed that initially OP had not really been considering longer term BTC investing because he was considering seeing BTC price appreciation over what we believe to be this particular price cycle, but he may well be coming around to considering continuing to buy through the whole cycle and for longer periods of time to see how his BTC investment may well grow over a longer time period.

I understand that people get into bitcoin (and even into shitcoins), and their ideas evolve, and maybe at a certain point they begin to establish some aspects of their investment plan that ends up focusing on bitcoin, so in terms of that portion of all of their investments, they may well be able to set BTC accumulation goals that are surely going to vary in terms of strategies and even the amount of value that they believe that they can invest specifically into BTC.  Personally, I am a fan of DCA, buying on dips and lumpsum investment, and I believe that the DCA is amongst the strongest of those three strategies... and setting DCA at a reasonable amount can assure ongoing investment in BTC and perhaps an ability to save some fiat to set aside for buying on dips too.. and surely for anyone with a low budget (or cashflow), it can become more complicated when they end up having to divide the BTC investment dedicated portion of their cashflow into more than category because already starting with small amounts cause the divisions to seem even smaller.. so those kinds of problems may well cause some of those categories of investors to figure out more and more ways to either earn more money or to save more money so that their amounts invested might become larger - which also relates back to the decision of OP to cut his junk food budget and to put that money into BTC DCA strategies.

If not investing then holding them from signature campaign earning is also a good idea because in the end what matter is you are holding btc in any way you had accumulated it like some might be having them from faucets paying 5 btc in past and some other giveaways.But the main thing is holding them for long term and about altcoins i am personally not a fan of them and restricts myself from swinging away on them.So keep your will strong and try to hold your coins for more time but you can surely use the funds in case of need.

i am not buying any single amount but all My campaign payments had been on Hold since march this year.

I have made a big mistake investing in altcoins (wrong altcoin to be specific) and all my bitcoin in the past was transferred in altcoins,.

now i will be here for Bitcoin alone (of course i will be holding my altcoin still).

good for you as realization comes like what i have in the past .

I am new to this industry but it is good to hear your story. I am learning to take HODLing to heart. I was scared early in mid Mar 2021. I lost some money selling early. However, I am glad I lost some money during that time. Then I started with DCA and buying the dip. I will not get scared out again.

okay I really understand what you mean and I totally understand that anyone can invest here with whatever nominal they want.
but the reply you made was not very concrete with the existing discussion or made by the OP.
i just highlighted what the OP made in his thread and if we follow that we need quite a lot of capital because when we look at what the OP is making in his thread he always pegs and adds load every week.
and I really appreciate you when you think about things like that because it's true, anyone, both big investors and small investors, can all invest here and of course they are free without any restrictions on the nominal amount because it is a prerogative.
I think you are misinterpreting this. I am not saying that I am diversifying my portfolio, but I am only in both because I feel it is beneficial for me personally.
and why I did this is because I made bitcoins for my future assets, and I am also in the trade route in some of the altcoins I have such as ETH, BNB, and Cardano which I think are very suitable for short-term investment. as well as medium.
apart from that for the problem of profit, I think everyone has the right and their own perspective about it because again here it is a free path, there are no restrictions and there are no standards from anyone. because all of them do it according to their own will and without any coercion from other parties

Several times I told my story of having had DCA invested into bitcoin through all of 2014 by first setting aside a certain amount for the first 6 months, and then dividing that into weekly allowances.  I had both cashflow allowances and also money that I was authorizing based on lump sum amounts that I had available. 

So for example if the total amount was $2,600 then I would divide that by 26 to arrive at $100 per week for that period, and in 2014 after the first 6 months had passed, I made an additional 6 months authorization based on projecting my cashflow and other cash that I expected to have available for the next 6 months. 

In January 2015, I had been continuing with some form of weekly DCA allowance into BTC, yet I had suffered from some business-related issues (not related to BTC) that screwed up my cashflow at that time and caused me to have to dip into emergency funds (or project the dipping into emergency funds, and some people had suggested selling some BTC - which I refused to sell any BTC since it was at a loss at that point), but also left me with a bit of uncertainties regarding the amounts of my future cashflows in the first half of that year, so pretty much I forced to stop any of my regular allocation of amounts into BTC and to re-project my cashflows for the upcoming 18 months to 2 years.

It had already been my usual practice to project my cashflow at least 18 months into the future, so at that time (in January 2015), I used fairly conservative estimates of my cashflow and expenses, and it ended up that I was not able to buy any BTC between late January and mid-April 2015; however, after about mid-April 2015, some of my cashflow started to clear up, and I was able to replenish some of my emergency funds and project an ability to continue to buy BTC in the event that I were to receive cashflow based on my mere minimum projections.  Therefore, I recall several times between about mid-April 2015 and about October 2015 in which I was buying BTC based on any little amount of extra cashflow that came in.  So for example if I had $20 (or $100) come in, then I would split that in half and buy $10 (or $50)in bitcoin and put the other $10 (or $50) into my other expenses.. 

Whatever extra amount that came into my cashflow or amounts that I might save on some anticipated expenses that ended up being less than I had expected, then half of the new amount or the saved amount would go into bitcoin, and I did that for most of that period between mid-April 2015 and October 2015, and at the time, it felt that I was just scrambling and not making a whole hell of a lot of progress because the value of my BTC holdings were in the negative at that time.  I had an overall average cost per BTC of between about $500 and $550 that came down through the period because of my ongoing buys, and the BTC prices were largely in the mid-$200s for most of that year. 

For sure there is no guarantee that everything is going to work out, so each of us will be in a better position to be able to project our anticipated cashflow and to invest into BTC based on how much we are comfortable, and to recognize that we might be able to profit from more aggressiveness but we have to be careful that we do not overextend ourselves in such a way that we might have to draw from our BTC at a time that is anything except a time that is completely of our own choosing and that we have other options to draw from other areas in the event that we feel that it is not a good time to draw from our BTC holdings - even if the value of those BTC holdings might be decently high as compared with our other sources of funds.

I find it hard to save money at the month end. Now i have my own solution for buying bitcoin through DCA.
I cut out my extra expense and buy bitcoins. Like last week, i quit the plan of having dinner at restaurant  and used the saved money to buy some satoshis.
Although the amount was not much but every satoshi counts.

The highlighted part in your post does not stand true according to me because what perception you have in mind is wrong.As i have said earlier also is that if bitcoin prices are at $50k imagine then we consider that we should have $50k with us to invest but that's not the case man like you could easily buy it for small fraction also like $30-$50 keeping them above the transaction fees only and you would get them.Imagine people who have 0.5 or 0.05 Bitcoins with them they are enjoying at these time and will have huge profits in future.The fact that it would be less than whales holding many btc but you should invest whatever amount you are willing to do.

You said you diversified your portfolio with btc and other altcoins so are you sure they are going to give you satisfactory return if you hold them? Because for me bitcoin is only surviving coin but as we know preferences varies so not coming to that part.Finances will never allow us but we can manage some waste expenses to some investment purposes for securing our future.So have thought about them.

This is a very wise choice. This is often what we lack. It is wiser than any other kind of investment to invest the wealth that can be saved in life into Bitcoin to obtain more wealth, because this kind of investment is not Affect your quality of life, and will not be panic and too much psychological pressure!

What a great post, a genuine thank you for writing this down. Sounds like you’ve done well, and righfully so if you can hold out this long. It is a great thing that Bitcoin will teach many people how to both successfully invest long-term and trade short-term before even turning to typical traditional assets like stocks.

indeed it would be very good to do this and from an investment and profit perspective it would be huge, but not everyone can do that and maybe only a handful of people are able to do it.
not without reason, because indeed this is a long-term investment project and if you want to do a strategy like this at least you need a lot of money and the money must be unused for daily needs.
apart from that, everyone has a different perspective, especially in investing, what the OP does is that he only focuses on bitcoin and maybe I, you or someone else will do different things because if you see this, I personally also want to do the same thing. same but finance doesn't allow that and indeed I prefer to invest in bitcoin and some altcoins.

This thread is really impressive and inspiring too. First of all this threads for those who continuesly say that we don't have soo much money to invest in bitcoin. Bitcoin price is huge we can't able to buy bitcoin and its really hard for me. I am from poor family, i do daily lowest amount pay job, or i got lowest monthly salary. Look this thread prove that all are is excuse nothings else. If you can't afford car but you can afford bike that why you buy bike. And those person who can't afford bike they buy bicycle and those bicycle is not enough they are going with public transport. Then investment is quite same just invest atleast 3-5% from your earning. Then after a long time just see how much you made.

Hope those excuse giver will learn something from this.

Congratulations and thanks  for this amazing post.

Huh?

you are talking about bitcoin or something else?

To the extent that you are talking about bitcoin, there are no guarantees in the short term, especially if you are talking about few month increments, like you seem to be doing.

Honestly I have said last three months not saficieant invest to crypto so my profit down.I regulate a sophisticate chanel but there are some issues change the pattern of my plan . But I am happy now because everything in my control and also optimistic that last three months lose will recover in the next month .

This is very interesting to me . If everyone could reduce the bad things in themselves and start thinking about saving for the long term this would really help their future. Especially maybe someone who likes to smoke or drink, if it can be reduced slowly and even don't consume it anymore.. this will actually be a useful savings for retirement later.

I welcome your strategy first. It is really incomparable. In my opinion, you will benefit from various aspects. First of all, you have reduced your eating form junk food. Your financial situation has improved after that invest in cryptocurrency in your future work plan. I think you are ahead from all sides. Another aspect is that you have engaged yourself here as a real holder. It's really awesome. I corroborate your journey and wish you success.