Topic: My Past nine months bitcoin journey - page 12. (Read 2911 times)

Selling your bitcoins is not an ridiculous idea if you are need of funds at some point but not making investment and still ignoring the market making missing the boat excuses is an actual worse move on our part.It is good that you didn't panic sell in last dump which can prove miraculous for you soon and new ATH are on your way.For me i don't care about the prices actually and have not set up any price expectation limits to sell off because i am at accumulation stage which is going to benefit me over time.

This is encouraging and from the look of things this looks more like a hodlers journey to 1 BTC as you are buying almost every week which doesn't regard price of bitcoin that week, if am correct continue on  this journey. I regret not embarking on the same journey when price was much cheaper than it is today by now I should be having a good amount of btc.

I accepted the suggestion of my friend. At this age, I don't think it's time for waywardness. In terms of things to be done, I will make full preparations in advance and do all the preparations. Sometimes, the purpose of changing oneself is to make oneself better, and people always have to move forward. So even as a retail investor, the initial investment is not much, but Bitcoin will not let us down. I have read and researched this article completely. Persistence is king.
I have also seen your careful and positive response to this post, which makes me very interested in studying it, and there are many parts I will digest over and over again.

I think that BTC accumulators who have a fairly modest BTC investment level that is at such a modest level that it could take them 10 to 20 years to potentially reach fuck you status (presuming something like $2 million as a kind of general tentative target entry-level fuck you status), there tends to be a kind of realization that even if bitcoin goes through some extensive dips, the best of their strategies is not to be attempting to screw around with attempts at selling and buying back lower.. but instead, just ongoing buying.. and sure, if they start to get close to their fuck you level (let's say higher than 50% or so), then maybe they can try to employ some more advanced strategies that largely attempt to preserve their vast majority of their principle, so they are not screwing around too much with putting their principle at risk.

Another thing that many of us longer-term bitcoiners have likely found (and gosh not even sure if I can truly count myself as a longer term bitcoiner because I am still a bit under 8 years of bitcoin investing), there can be periods of very strong compounding effects in bitcoin, so perhaps being 30% to 50% towards the accumulation goal (or value goal) can end up witnessing the goal seeming to be far away and then all of a sudden you are at or exceeding your goal in a matter of no time... just imagine feeling a kind of floundering while BTC prices were bouncing around largely between about $4k and $8k for a lot of times during 2018, 2019 and even into 2020, and even if the BTC was getting somewhere in the territory of having had accumulated something like 20 BTC.. and then feeling that those 20 BTC were not even worth a whole hell of a lot because they were like 10% to 20% of the investment target of $2 million (remember before 2020, I had largely been considering $1 million as entry level fuck you status, and sure even now there are some people who will feel content in transitioning into fuck you status with $1 million in value, but since March 2020, it seems much more prudent and much more generally applicable to suggest that $2 million is needed for entry level fuck you status).  

Anyhow, getting up to around 10% of fuck you status level with around 20 BTC and BTC prices getting to $10k  would have caused some concerns that the actual reaching of fuck you status was many years into the future, but then BTC's price spike up to $64,895 then would have shown those BTC to have reached a value that was about $1.3 million, which is really 65% of fuck you entry level status, but then they went back down to $30k ($600k, and 30% of the goal), and then currently at around $46k ($920k - nearly 50% of the goal).

By the way, given bitcoin's considerably great volatility that is likely in a kind of inevitability category, I surely have developed my own assessment of the value of my coins based on the 208-week moving average rather than based on all over the place BTC spot prices..  (call me a fuddy-duddy, if you must).  So the 208-week moving average is currently at about $14,500 (and tends to be moving up quite greatly in recent times), so with my presumption, fuck you status would not be reached based on current 208-week moving average price until you currently have about 138 BTC  ($2 million / $14,500).**  That kind of a conservative assessment of fuck you status seems safer to me, and I really would hate for anyone to prematurely enter fuck you status based on spot BTC prices and not having had adequately and meaningfully accounted for BTC's inevitable price volatility... so no one is going to save you if you prematurely pull the fuck you lever when you believe that you have reached fuck you status, and you had not made reasonable assessments of the actual sustainability of your wealth and the withdrawal system that you intend to follow that hopefully allows you to maintain a lifestyle that is at a level of your preferences - and hopefully within your budget that you can continue with it in a kind of perpetual way, if you were to be so lucky as to live so long (which of course, considering lifespan and death are additional considerations)....  

**By the way, the fact that we both seem to be in a bull market and the fact that the current spot price is about 3x the 208-week moving average, it may also be prudent to use the 104-week moving average as a jumping off point for the current anticipated bottom (which is nearly $22k), and even project ahead with a 20% per year appreciation of the 208-week moving average while using the current 104-week moving average of $22k as a starting point... In that regard, the current fuck you status would be reached with about 91 BTC, and the projection ahead to 2025 (4 years from now) would take about 42.5 BTC based on about a 20% per year projected increase in the 208-week moving average (which may or may not end up playing out so aggressively - or it might end up playing out more aggressively, time will tell).  

Anyone following these concepts and wants to see a chart?  Let me know, I will supplement this post or create another post and link to this one if anyone wants to see how the anticipated BTC bottom prices project out.


How about you, MIldic1c? 

Have you followed some kind of a similar plan like your friend had suggested to you?

One thing that I frequently recommend is that a person make some of the initial preparations of setting up accounts and surely starting somewhat small to get used to it, but of course, sometimes when newbies engage in their earliest stages of analyzing their personal situation and even figuring out how much they are able to spare to invest per week or month, they will sometimes learn that they can be more aggressive and even front load their investment into BTC a bit.

Of course, there are some people who are able to figure out that their personal circumstances do not put them into a position in which they are really able to front load their investment into BTC.. and therefore, they end up just doing what they can in terms of maybe something less aggressive - even something like $25 per week or $100 per month can end up adding up to a decent amount invested 5-10 years down the road and without really putting any BIG dent on other cashflow matters/concerns that newbies to bitcoin might have.

I remember once a friend told me that the same thing would become a habit if I persisted for a month. I think this has become a good habit for you, and it is in exchange for correcting bad habits, and you are very self-disciplined, worthy of me to learn, and this is a very suitable way for novices. Making a plan is one of the steps to success, approaching the goal step by step, no matter how big the starting point is, you can buy on dips and stick to it. I believe you will make a considerable profit.I hope you will stick to it. Success is often based on abandoning some things first before reaping other things.For newcomers who have just entered the forum or market, this will be a good example.

I admire that you will not panic and sell your bitcoins when the price drops. Many people's mentality is not so good.
Every price drop is indeed a good opportunity. I will use my spare salary to invest in Bitcoin every month.
But I was scared by the market! Some time ago, when the price of Bitcoin fell, I was afraid of selling my Bitcoin. Now it is ridiculous to think about it.
Always believe in Bitcoin, it can work miracles.

Eating healthy now and making it routine along with bitcoin investment as my weekly meals which is going to improve my health over long time.If you know what i mean and third month btc investment have been accomplished now

I can boldly tell you this is a wise step you have taken in securing for the future, this little token you are seeing today you will be amazed as to how it will yield you profit in the longrun but I won't want you to do this at the detriment of your health, eat good food when you need to, your body needs that as well.

You seem to either be misstating the overall sentiment of OP, Sterbens, or you misunderstand the various points that OP is attempting to make both with his initial description of what he is doing and some of his follow-up discussions and confirmations regarding what he seems to want to do.

First off, he is not talking about any other crypto besides bitcoin, so fuck that nonsense about trying to proclaim that the same kinds of accumulation principles are going to logically apply any crypto besides bitcoin.  Of course, if you are going to even come close to attempting to justify that any other crypto, besides bitcoin, even has a flying fuck chance of having decently strong enough fundamentals to be investing into it for the long term, then you better get into some particulars regarding how you would be coming up with such justifications because as far as I can see, it seems that every single shitcoin (or crypto as you call them) is performing on the coattails of bitcoin and largely you have additional risk factors that come with what might be particularly happening within any kind of shitcoin, too.

Second: regarding selling, sure OP does seem to imply that he might well be considering selling some, if not all, BTC in 6 months, but surely selling does not seem to be the crux of what he seems to be attempting to consider.. OP seems to be more inclined towards some kind of BTC accumulation strategy, and surely after he assesses the space for 6 months, he may well conclude that actual selling of BTC might not be a very good long term accumulation strategy, but sure, it can be difficult to conclude what any one of us might do versus what we say that we are going to do, because I would imagine that if OP is investing into bitcoin for another 4-6 months, he may well end up learning some things that cause him to adjust his thinking about the matter - of course, many of us mere mortals do have short-term consumption temptations, too (which is understandable)... whether that be lambos or other kinds of short-term consumption (or even what seems to be investment) temptations.

Third: regarding your mentioning of trading, of course, trading does relate to selling - which is the second point above, and surely, so far, OP does not seem to be placing very much emphasis on "trading" - at least not so far.  In this regard, there are a whole hell of longer term bitcoiners who argue against any kind of trading of BTC - and sure, each person will have their own personal considerations in terms of whether they believe that trading might be a good thing to try in order that they might lose some of their bitcoin (even while having goals to gain more bitcoin), so trading does not tend to be any kind of obvious strategy that works for hardly any normies.. and does a decent amount of time and practice to be able to become good at it, and even  people who are fairly good at those kinds of things get nervous about employing trading techniques prior to reaching (or perhaps exceeding) their BTC accumulation goals through more conservative (tried and true) means such as DCA buying, buying on dips, lump sum buying and HODL (without fucking around with selling any of their BTC until they reach a certain level of BTC accumulation or overaccumulation in terms of their own framing of their BTC accumulation goals).

The point is the ability to manage indicators makes an opportunity to take profit at a certain time. As you've analyzed, it's not a coincidence or luck. So I appreciate more how you know when to open a position and when to release the price based on the target.

Why does it look so amazing? because you have the skills needed for every crypto trader. I trust you will share that with us, and have motivated many newbies to continue contributing to the crypto survival industry, where learning trading strategies from now on will determine how good you are at dealing with future market situations.

In my opinion not only newbies but we all should have the mindset to invest whatever we can afford into bitcoin so that we have secured future ahead.I have shared my journey with you all so that you can all have some motivation and cut off your expenses to some extent and contribute the same towards btc.You might not get another chance to get it at this price so just go on with this.

Will surely keep the thread updated man and keep you updated with my ongoing journey

This will help especially newbies to follow your method in acquiring bitcoin sucessfully even in a slow manner. This is a slowly but surely process because everything comes up from your plan.

I realized that no matter how small you started your investment, as long as you know how to take things in a positive way consistently, you will really get there in your destination even how long will it take.

To be honest there are many things in life that we can do without and the money for it will be used to do crypto. Like cigarettes, gambling money, junk food expenses, fast food expenses, transport expenses being taken out of the budget even if you are working from home, cinema time, toys and collectibles, and many others. The only challenge that we have to face would be the discipline needed for us not to succumb to temptation of using those money for your habits.

Very interesting breakdown of your weekly investments in purchasing bitcoin.

To be honest, newbie investors should follow or at least consider your method if ever they decided to invest or acquire some BTCs for either short/long-term basis. It is very straight-forward and easy to comprehend. In addition, I also thought of investing but I never truly attempted to do such but seeing actual results (like the one you made) makes me realize that the potential in earning profit on long-term investment is relatively high.

Keep up the good work and also, keep this thread updated!

As I congratulate you, I also express my gratitude. This is a very good investment idea and habit. From your article, you can see that your mentality is very good and it is worth learning and learning from. In fact, many times we need to continue to summarize and review, clarify the plan, and stick to it. Hope to see your posts one after another, this will be a wonderful thing, come on, brother, I will follow you.

It's good that you have thought about btc accumulation at this time also because even if we start stacking sats aslo at this time without going for whole bitcoin.People claim that bitcoin is at high price and they can invest that much money in many other investments but who is asking you to get full btc and instead go for whatever you can afford.So it's better to have that mindset and have fun in long run.

Many might be learning from this post and try to have their plans setup for btc accumulation and some might also doing the same but all we need is to invest however we can.Rest thanks to @JJG for making this thread more interesting and inspiring newbies and other by giving them some knowledge and motivation for such purpose and answering them in detail.

Yeah.. each of us has to attempt to look at our situation and the whole scheme of things.. in terms of your personal circumstances.. and how you are approaching your BTC investment.

I know that I have told so many variations of my same story over and over, so sometimes I am not sure if I should repeat some variant, but when I got into bitcoin in late 2013, I had already had more than 20 years investing in various tradional investment asset classes, and overall I had not done badly for myself – so when I came across bitcoin I already had various categories of diversification and even cash set aside .. and some variations of best practices, even though my various investment portfolios had never really had any kinds of levels of great performance.

So, I came into bitcoin looking for a kind of investment that was like gold and could hedge my various dollar based investments, but when I looked at actual gold, I did not like the fees, the difficulties with physical storage and the sense of seeming phoniness in holding paper versions, so bitcoin struck me as a great substitute for something like gold, but for about a year of DCAing into bitcoin and kind of attempting to front load my investing into BTC, I still really did not have comfortable in terms of what my target accumulation number was supposed to be until somewhere when I got to the end of 2014, and I had invested around 10% of my total investment portfolio into bitcoin.. so therefore, it kind of struck me, at that point, that my BTC investment had reached a high enough level, and I no longer needed to feel any kind of urgency in terms of whether I had enough stake or if I felt that I was sufficiently prepared for UP, in the event BTC prices were to go up from that point.

Even though by the end of 2014, I felt that I had enough BTC, through much of 2015 and 2016, I still continued to DCA buy into bitcoin and whenever I sold any BTC, I felt a kind of urgency in regards to buying back whatever I sold within that same week or so..   

I figured by the end of 2015, my BTC accumulation level had gotten to be around 13.5% of the value of all of my investment portfolio, so I started to feel that I was overinvested into BTC, because somewhere along the line I had concluded that my target level was supposed to be 10%, but I had gone beyond my target.

I understand that it might sound a bit strange, because even after I figured that I had overly invested in BTC (in terms of my own goals/targets), so I had developed some willingness to sell portions of my BTC as the price went up, but somewhere when BTC prices went from $600-ish in late 2016 to $2k-ish in early  2017, I started to conclude that I did not even want to sell BIG chunks of BTC and I was just going to sell small chunks up whatever price increases and just let the whole matter play out however, it would… so we know what happened in terms of the price going up to $20k andf then correcting back down to $3k and then getting stuck in $6k to $9k prices for a decently long stretch of time.

So, of course, my way of dealing with bitcoin as an investment might NOT be a very good role model for anyone who might be in their first 20 years of investing, because bitcoin was not around for my first 20 years of investing… so having a current option of bitcoin and figuring out how to deal with it can be quite challenging, even though there are a decent number of people in bitcoin in their early years of investing who have concluded that attempting to take an aggressive stake in bitcoin is an important approach to the matter… so one of my concerns is that I generally do not believe that selling BTC to accumulate BTC is not a good accumulation strategy until you reach a certain higher or overly higher level of accumulation.. yet I know that the way that BTC accumulators set their targets is going to vary… even if they recognize DCA buying to be a great longer term, BTC  accumulation strategy.

With my Heart Pounding so fast before Pressing the Sell button lol , I personally ask my Wife's advise that time because you are correct as i am in Accumulating stage that time and Losing when increase continues to happen will really affect my next decisioning but Lucky as the situation favors me.

Bur surely? i will never risk that same action ever again, I will continue to accumulate every 15 days now without Looking for actual Price of Bitcoin in market so i don't have to have another thoughts before acting.

at this time I have learned a lot about the world of bitcoin and how it performs for the next 2 months, as we know now that we always remain optimistic in this matter and do not depend on any conditions for everything, if we want to leave in the month This is enough for us to sell it on the stock market, but if we still want to survive we are enough to be a little patient for a process

Fair enough... If you are in accumulation phase, then you should be pretty hesitant about selling much if any, and selling 50% is a lot, but at least that part did work out for you, even though it does not seem to be the better of practices while in an accumulation phase.  Once you have reached accumulation goals, then it becomes more justifiable to be shaving off some profits on price peaks.. but playing around with 50% seems like a lot to be playing around with.

Of course, each of us will have differing philosophies in terms of how we feel about accumulating BTC and how to deal with price seemingly obvious dips and peaks, but there still can be some uncertainties while in the midst of the price regarding where such price might be going in the shorter timeframe.


Anytime is a good time to buy BTC, especially if you do not have any... once you have a sufficient (or even excessive stash) then the buy / accumulate considerations are going to change.  Of course, getting the BTC at a seemingly lower price is best, but how do you know, except that the price is 50% cheaper than what it was a few months ago.... so sure, there may be some console in that.