Topic: My Past nine months bitcoin journey - page 10. (Read 2828 times)

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.

Any person can ONLY do so much with his/her personal cashflow.  There are a lot of reasons that a person might have a tight cashflow and may well not have access to credit, either.  So making any kind of lump sum investment, as you suggest Obito, is really not a feasible option without going into some kind of possible gambling mode.

Let's say, for example, a guy has a cashflow of about $1k per month, and s/he has various expenses such as food, lodging, transportation, entertainment/recreation and other matters that cost him/her $900 per month.  So, s/he ONLY has $100 per month that s/he can invest, and I would not necessarily even recommend investing all of that in BTC.. maybe invest half or less in BTC and keep money for an emergency fund.  Once a person has an emergency fund that is sufficiently built up, then there is also more freedom to increase investments.

So, of course, any person investing into bitcoin with a 4-10 year time horizon or longer can work on increasing his/her cashflow and decreasing his/her expenses.. and even building some credit in order to be able to attempt to strategically employ debt to his/her advantage too, and each person has to consider his/her circumstances in terms of what might be feasible to potentially increase his/her investment into bitcoin, and even though I share your favorable view of lumpsum investing, not everyone is in a position to employ such a tactic - at least not at the time that they first hear about bitcoin or that they first start investing into bitcoin and/or attempting to get their finances and psychology in order in order to place some priority in building their BTC stash... which surely may well be a slow journey in the beginning... wealth building can take a very long time to accomplish, even for individuals who are very smart about their finances and psychology - especially if they are coming from a place in which they have very low level of wealth/networth that they are attempting to make better.

By the way, you may read my above description as being a young person as the newbie investor, and sure that young person status would give more abilities and brightness in terms of having a favorable timeline (so long as they do not screw matters up), but the circumstances that I describe could even be those of an older person or someone who may have not ever really been successful in building networth - including potentially putting his/her finances/psychology in very bad circumstances and figuring out ways to improve his/her finances from the negative situation in which s/he finds him/herself when first coming to bitcoin in terms of a possible investment.


Fuck crypto.

We are talking about bitcoin in this thread.  If you actually are talking about bitcoin, then start using the word "bitcoin" otherwise you are either off topic or spewing out pure meaningless gibberish by referring to such an amorphous concept such as "crypto"  whatever the fuck that is?


I know that guys should do what they want, but I personally recommend buying on a weekly basis - unless your overall monthly amount is so small that you need to lump together your whole month's budget for once per month.

I understand that there are some folks who are only able to sort their cashflow once a month or they get paid ONLY once per month, so i do understand that there could be considerations of investing all of the allocated amount when it comes in rather than spreading it out for the whole subsequent month, so sure, even though I frequently proclaim a preference for weekly investing into BTC rather than monthly, I understand that the circumstances of some individuals might cause monthly to be more practical/prudent for their own cashflow (and/or psychological) situation.


I don't really disagree with what you are saying dupee419, but investing in the long term can be a very grueling process, especially if we are looking at the small amounts that OP has been investing.  Surely, there could be temptations along the whole way in regards to building the BTC portfolio, seeing it rise in value and then considering using it to buy some consumption good or to divert it into some inferior investment.

I personally believe that if someone has a fairly aggressive BTC investment strategy, then surely s/he may well be in a better position to relax after a few years (maybe after 4 years), but if someone is investing relatively small amounts, such as OP, then there may well be a lot of temptations along the way including that the amount of value may take a few cycles before it really becomes considerable amounts of wealth... even though again, circumstances may change within the first 4 years of investing to allow more aggressive ongoing investments or even ways to manage the BTC investment in a way that allows for improvements in overall standard of living without necessarily cashing out any meaningful amounts of BTC and keeping up the ongoing investments into BTC (learning how to employ reasonable and prudent BTC portfolio /investment management strategies along the way.. and employing such learnings into such ongoing BTC investment strategies).


The idea of bitcoin prices being stable is a fantasy.

One of the almost inevitable guarantees of bitcoin in the coming years is that it is going to continue to be volatile for a quite a long time into the future.  There is a war going on, so you cannot expect stability in the midst of a war.

Of course, as bitcoin price (and market cap) likely continue to go up, it becomes more and more difficult to move its prices, but if you are expecting BTC prices to become "stable" at any time in the short to medium term (even less than 10 years) you are living in a fantasy - even if the percentage of BTC price moves have likely been becoming less and less with the ongoing increases in its market cap over the last 11 year or so (at least since 2011-ish) since bitcoin first started to have some price finding that has grown and grown and become more sophisticated (also referred to as increased financialization) with the passage of time.