My Past nine months bitcoin journey - page 15.

JayJuanGee

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: matchi2011 on July 15, 2021, 03:18:23 PM

Quote from: worldofcoins on July 15, 2021, 03:10:42 PM

Quote from: BlackHatCoiner on July 14, 2021, 10:11:07 AM

Quote from: aysg76 on July 14, 2021, 09:45:07 AM

I have doing this from past two months now and planning it to carry on for long time as i know that my returns will be high in long run

You'll probably be inflationarily secure, but I'm just adding some wise words from John Maynard Keynes: “In the long run we are all dead”.

Maybe there's going to be a lesson bitcoin's price doesn't always go up in months, But the OP is planning to HODL for 6 months, There's a good possibility price might go up during that time like last year but it's not guaranteed, not trying to be a duche bag but... OP tell me will remember the french fries and burgers you could've eaten if the price of bitcoin goes down under 10k USD? Grin

No guarantee that the price will go up in such time frame but who knows, there's always possibilities just need to have a good
mindset waiting for your target.

6 months is good enough to see progress, once the market start to bounce back surely it will give decent compensation to
your investment.

I think that 6 months is too impatient of a time period in order to be expecting that you have to see positive results in your BTC portfolio. A large number of bitcoiners do not consider bitcoin as a get rich quick scheme, even if a lot of bitcoiners have incidentally gotten pretty damned well off from bitcoin... so there tends to be a lot of value in both deferring gratification and not expecting that you have to always have positive and quick UP price performance in order to feel satisfied with bitcoin as an investment and investment strategy.

In other words, bitcoin is quite likely strong enough to be an investment that the investor should be willing to invest and wait for 4 your years. Of course, every person who gets into bitcoin retains discretion to cash out early or to take profits at any time whether waiting for four years or longer or cashing out in a shorter timeline if s/he feels that is what s/he wants to do, but bitcoin seems to be a very good long term investment for 4 years or greater.. so yeah, not sure how OP might feel if BTC is at $10k or some low amount in 6 months, and if he might be able to retain his conviction to continue to buy, which is likely the right approach is to continue to buy, especially if there is nothing broken about bitcoin's fundamentals....

so what creates strong fundamentals is another question, and surely there are some folks who are going to get shaken from bitcoin based on price movements or even fears about fundamentals that might not be sufficient to shake a longer term HODLer of conviction... so great price corrections and even BTC prices staying low for a much longer time than expected can be very good tests of conviction even though they are not necessary, the strong tests do happen from time to time including the BTC price going against your interests (or your projections) for much longer than you may have thought to be possible, but pure DOWNity price dynamics should not be a condition sufficient to shake anyone of their conviction if there is no other meaningful negative issue beyond ongoing negative price dynamics.

matchi2011

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Buy $BGL before it's too late!

Quote from: worldofcoins on July 15, 2021, 03:10:42 PM

Quote from: BlackHatCoiner on July 14, 2021, 10:11:07 AM

Quote from: aysg76 on July 14, 2021, 09:45:07 AM

I have doing this from past two months now and planning it to carry on for long time as i know that my returns will be high in long run

You'll probably be inflationarily secure, but I'm just adding some wise words from John Maynard Keynes: “In the long run we are all dead”.

Maybe there's going to be a lesson bitcoin's price doesn't always go up in months, But the OP is planning to HODL for 6 months, There's a good possibility price might go up during that time like last year but it's not guaranteed, not trying to be a duche bag but... OP tell me will remember the french fries and burgers you could've eaten if the price of bitcoin goes down under 10k USD? Grin

No guarantee that the price will go up in such time frame but who knows, there's always possibilities just need to have a good
mindset waiting for your target.

6 months is good enough to see progress, once the market start to bounce back surely it will give decent compensation to
your investment.

Shasha80

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Quote from: Tigerheart3026 on July 15, 2021, 02:28:28 PM

i'm motivated with in your such great concept. also i'm ordering food a couple of time in every month although not in every week but i cost good money, if i can follow and try to save money for future but it’s bit challenging to reduce half of amount from my cost.

Sometimes we unconsciously spend too much money to buy food, because we want to enjoy good food. In fact, we can save money by eating the food
we need, not what we want. The concept that the OP did indeed motivates us all, it turns out we really have to start thinking about our future. By reducing
our spending that is indeed excessive, and starting to buy Bitcoin. It is not easy to do that, there are some things that we have to sacrifice and we also
need patience to do that.

worldofcoins

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Telegram: @worldofcoinss

Quote from: BlackHatCoiner on July 14, 2021, 10:11:07 AM

Quote from: aysg76 on July 14, 2021, 09:45:07 AM

I have doing this from past two months now and planning it to carry on for long time as i know that my returns will be high in long run

You'll probably be inflationarily secure, but I'm just adding some wise words from John Maynard Keynes: “In the long run we are all dead”.

Maybe there's going to be a lesson bitcoin's price doesn't always go up in months, But the OP is planning to HODL for 6 months, There's a good possibility price might go up during that time like last year but it's not guaranteed, not trying to be a duche bag but... OP tell me will remember the french fries and burgers you could've eaten if the price of bitcoin goes down under 10k USD? Grin

BIT-BENDER

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Quote from: Yogee on July 14, 2021, 10:37:22 AM

Congrats! You'll make it a habit if you keep this up. I hope you get a raise or have a side job since you're increasing your BTC investment per month. You cannot keep on reducing your food budget can you?

He can actually do that if he wants, I have cut down my food rations to once a day when I wanted to get something very important to me, I haven't done it yet to get bitcoin but this is an encouragement to do so, but what I think he should really not pray not to get in between him and his bitcoin Investment purchase is unfortunate circumstances that requires Money, this is the real grim reaper.
You table of purchase is complex, but it's is having result so it's commendable, I haven't thought of this but now I think I have to reread it again to know how it can be achieved by me, thanks.

Tigerheart3026

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i'm motivated with in your such great concept. also i'm ordering food a couple of time in every month although not in every week but i cost good money, if i can follow and try to save money for future but it’s bit challenging to reduce half of amount from my cost.

btc investment is perfect choice to others alt coins. provably you hold it for long time because you bought too high price in the first month.

blackened515

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I must say, this post really inspired me. And I learnt something, that is, we shouldn't panic about the price of bitcoin. But invest and have patience. Although, I have always known that Bitcoin have a bright future, and those investing today will probably make a huge profit from it. And making huge profit from bitcoin require patience, the ability to hold it still the price rises high.

JayJuanGee

legendary

Activity: 3920

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: Btcvilla on July 15, 2021, 12:21:05 PM

for difficult times like this, persistence is really needed to boost the optimism that this crypto business can run properly.because every month there will always be a significant.change in price, especially at this time it is the most.difficult thing we experience with price declines.that keeps.happening, hopefully.this will only be temporary for investors

Hopefully OP has a 4-10 year investment timeline, so in that case, this dip is temporary, even if it might last 4 years.

In other words, DCA investing presumes decently strong fundamentals in the underlying (in this case bitcoin - we are not referring to crypto.. and OP specifically said that he is ONLY buying bitcoin, so your use of the term
"crypto" probably indicates that you have some muddied thinkenings about this topic), but there is hardly any kind of ability to know how the short-term might play out... so accordingly, price dips are considered as opportunities to obtain more of the underlying asset (in this case bitcoin).

For sure, with any investment, we could well be in negative profits (aka losses - on paper) for a long period of time while we are building our base... again, if there is confidence in the underlying, then investing continues in spite of possibly being negative profits for a long period of time.. then the next part remains that profits are never guaranteed, and so if OP (or anyone else) is not investing more than s/he can afford to lose, then in that sense, there is always a kind of hope and expectations that the fundamentals are at least as strong as you speculate them to be in terms of going up in the longer term (or at least up enough that you would be in profits in the future).

CryptoStar19

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Quote from: aysg76 on July 14, 2021, 09:45:07 AM

I am away from my home working in an office and it is hard to manage both work and house at the same time for me as i came late from office. So most of the time I order food online say 3-4 times in week and was happy with that until the point i realised that i was wasting lot of money on junk food. So i decided to have my future plans as i was already investing in bitcoin so i decided to reduce my weekly budget for ordering online food and decided to invest that money into bitcoin despite the prices and just go on investing till the time being. But i made a plan that every time i would add on the fixed budget of $10 extra to btc investment and from next month increased my intial investment by $10 also.For example say my weekly budget or food expenditure was $40-$50 weekly on my 3-4 order i would reduce it to half and say invest $25 weekly and next week it would be turned to $35.Along with this I was also planning to buy some gaming stuff for my time pass but i dropped that idea for the same reason and decided that i would keep on investing in bitcoin only not any other altcoin also .So this was my plan and investment was done every week.

1^st Month Investments

Week Investment Bitcoin aqquired At price

Week 1: $25 0.0005 $49150.53
Week 2: $35 0.00094 $37002.44
Week 3: $45 0.00114 $39294.20
Week 4: $55 0.00147 $37575.18

Total 1^st month bitcoin investment in my portfolio stood at : $160

How much btc were bought: 0.00405

2^nd Month Investments

Week Investment Bitcoin aqquired At price

Week 1: $35 0.00093 $37345.12
Week 2: $45 0.00117 $38347.06
Week 3: $55 0.00163 $33723.03
Week 4: $65 0.00185 $35040.84

Total 2^nd month bitcoin investment in my portfolio stood at : : $200

How many btc were bought: 0.00558

Total Bitcoins aqquired with $360 = 0.00963

I have doing this from past two months now and planning it to carry on for long time as i know that my returns will be high in long run and my wasting that money on my food items would have given me happiness and relaxation for few time but this investment at this time would be long lasting and give me pleasure and joy for lifetime. So I decided to compromise my that things for bitcoin investments as it will surely have more value in future when every other assest will be depreciated with inflation but my this investment will prove worthy at that time.

Speaking frankly I was happy at this dip as i was getting big share at small prices and they don't even matter for me because i was not into trading and my sole motive was to invest and hold for long time no matter what the prices are and will be.I have decided to follow this plan for atleast 6 months and will keep posting the updates on this thread. So i am constantly reducing my miscellaneous expenses and allocating that funds towards bitcoin and i will not panic with any price dumps and afford to loose that money(but it will not happen as i am optimistic) and will hold that coins until i need to use them.Till then my 6 months chart is on for investments Wink

You can't go wrong with this strategy so long as you keep it up in the long run. Every bitcoin investment has had returns when holding for a maximum length of 3.5 years... that is, historically in the worse case scenario of having bought bitcoin at the very top of the market in a given cycle, so long as you held for 3.5 years you would still make significant returns.

We are on the fourth cycles so far and while nothing is 'guaranteed', there is no reason to expect the current / next cycle to be any different... other than perhaps diminished returns relative to prior ones (another pattern that is already observable on the charts for the progression of the prior cycles) and lengthened cycles... the first of those being more certain than the second (whether this cycle is lengthened depends on whether we will get new ATHs by early next year or whether this is the beginning of the bear market.

Btcvilla

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for difficult times like this, persistence is really needed to boost the optimism that this crypto business can run properly.because every month there will always be a significant.change in price, especially at this time it is the most.difficult thing we experience with price declines.that keeps.happening, hopefully.this will only be temporary for investors

aysg76

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Quote from: BlackHatCoiner on July 14, 2021, 10:11:07 AM

You'll probably be inflationarily secure, but I'm just adding some wise words from John Maynard Keynes: “In the long run we are all dead”.

It's all our destiny in the end and we can't escape from it so till the time we and btc are alive we should we should try to enjoy our life and meanwhile save for our future also.

Quote from: BlackHatCoiner on July 14, 2021, 10:11:07 AM

I wonder until when, we'll measure with dips and ATHs this currency... Maybe forever...

We have already seen ATH of around $64k this year and now they are tumbling between $30k-$35k so that's why I was saying it as dips but not crash and if we have a look at past graphs we have always been bullish man and I know that.

Quote from: Yogee on July 14, 2021, 10:37:22 AM

Congrats! You'll make it a habit if you keep this up. I hope you get a raise or have a side job since you're increasing your BTC investment per month. You cannot keep on reducing your food budget can you?

I already mentioned that I am working in an office so no worries about that and I am not reducing my food budget actually but just leaving my habits of ordering food online on junk food and trying to eat healthy ones at home.The junk food budget is going into these investment.

Quote from: The Cryptovator on July 14, 2021, 12:05:29 PM

A great decision ever. It's because by reducing junk food you are saving your health and on the other hand by saving Bitcoin your building your wealth. It's quite interesting and I appreciate your decision. Better once you can leave eating junk foods permanently. It's really not useful for your health rather than it's harmful to your health & wealth as well.

Thanks for the motivation man and yes we can always try to evade those things which are not necessary in life like junk food but btc investment cannot be compromised at this time so making this wise decision.

Quote from: Kakmakr on July 14, 2021, 11:46:54 AM

Will you be editing and updating this thread or will you be creating a new thread?

I will keep updating the same thread and what's the fun of making another thread about the same thing when I have already made one.So will try to update it on monthly basis for the time I am investing.

Ararbermas

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Congrats mate, just keep it up and never ever give up in it, because this isn't the end of your journey wherein there's still a lot of opportunities waiting for you in the future as long as bitcoin still strong and keep promising. And i know for sure you will be successful because you have such good mindset when it comes investment..

Kong Hey Pakboy

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It might not look like it's a lot of money but if you think about it for a second, OP bought those bitcoin at a low price compared to the current all time high price. Meaning that it will only go up in the future if OP continues to hodl and accumulate more bitcoin. I am inspired by this because I really want to spend 1200 USD for something but I don't have a job so I can't steadily invest in bitcoin.

newwest

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Quote from: peter0425 on July 14, 2021, 09:07:17 PM

Quote from: aysg76 on July 14, 2021, 09:45:07 AM

Total Bitcoins aqquired with $360 = 0.00963

Will this be running for many months more as you only posted your first 2 months ? and according to your weekly investments it seems that the funds are coming from your Signature campaign payments though there are some adjustments.

But such a great initiative and engagement hope you will make this for another years.

It is good till the time some investment are done irrespective of amount being invested as everyone financial condition will be different. But important thing is is to continue investing on regular basis and no matter how small, and during dips if can raise little investment will be best thing as when bounce back happens you make it good returns.

randegibran

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I am very happy and enthusiastic in starting this business and will not leave it again, because this business is very useful for the future and having a business in the long term for a business that is also quite satisfying.because in the last few months I am very starting to be enthusiastic about getting into this field, to start my umpteenth business to gain a little experience about the business that will give me a little profit

peter0425

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Quote from: aysg76 on July 14, 2021, 09:45:07 AM

Total Bitcoins aqquired with $360 = 0.00963

Will this be running for many months more as you only posted your first 2 months ? and according to your weekly investments it seems that the funds are coming from your Signature campaign payments though there are some adjustments.

But such a great initiative and engagement hope you will make this for another years.

yhiaali3

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This is a really great plan and a lot of courage from you, I especially like your strong determination to achieve your goals no matter what, we miss such courage these days when some people are selling their bitcoin because of FOMO, if they thought like you, they would have reaped a lot of profits in the future.
I am sure that you will reap the results of your patience and strong determination in the near future because bitcoin will rise to new highs in the near future and then you will get great results, it is great that you are sharing your idea here because this can help a lot of people who have fears of bitcoin falling Surely this idea will inspire them and help them to hold bitcoins.

Rengga Jati

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I really appreciate the effort you have done this. Reducing daily or monthly spending or by moving the expenditure to buy Bitcoin, of course, is not an easy thing. Because I also ever experienced it. There are times when we lose to our desire to buy something and finally don't buy Bitcoin at a certain moment. This is the usual thing.

However, as long as we are consistent and have the responsibility to do what we have planned from the beginning, we will enter all routes, the path according to what we planned, namely investing in Bitcoin.
Of course, deciding on investment in Bitcoin is also not a trivial case. Because we must be truly brave and ready to take risks of price volatility and also the funds we invest.
Short-term or long-term investment certainly has the same goal, namely getting a profit. But the way and the risk will certainly be different. Here we are, according to the strategy we use.

And finally, keep it up. You can make a spreadsheet to register your investment in order to manage and monitor well and wise.

CaVO32

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Quote from: Lanatsa on July 14, 2021, 05:42:32 PM

Slowly but surely as long those funds aren't used for living or expenses or savings then it should be fine.Im having the same move on accumulating bitcoin but only on monthly purchases

and everything would be random in terms of amount because I do make use of those extra money I do have after I had paid up the bills and everything is already organized.

Somewhere in between $100-300 depending if there are no other expenses or unexpected ones.Yes, it is just small compared to others but at least you are saving up.

As long as you are using funds that you can afford to lose, no matter how big or small, that would be fine. At least, you are not relying on that funds for your daily expenses. Because the volatility that you will encounter everyday will make you panic if you are relying on those funds and you may sell at a loss. But if you are looking for long-term investments, you will not be agitated by everyday movement. And with small investments, in time, you will find out that it is already a hefty amount.

Lanatsa

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Slowly but surely as long those funds aren't used for living or expenses or savings then it should be fine.Im having the same move on accumulating bitcoin but only on monthly purchases

and everything would be random in terms of amount because I do make use of those extra money I do have after I had paid up the bills and everything is already organized.

Somewhere in between $100-300 depending if there are no other expenses or unexpected ones.Yes, it is just small compared to others but at least you are saving up.

Topic: My Past nine months bitcoin journey - page 15. (Read 2948 times)