Topic: My Past nine months bitcoin journey - page 3. (Read 2828 times)

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.

Great choice makes extraordinary history,Appreciated and newbies must learn from this choice and the way of venture since drops can make an ocean. We all spend on additional uses but presently shlould think that crypto world can bcome life changer and you'll get financial freedom. There is something that able to take a lesson from your story. For those who are commonplace with Bitcoin, it's a brilliant opportunity for us to spare Bitcoin for our future. And sparing little sums will not make a difference in our current lifestyle. If you're holding up for colossal sum to contribute you may hold up ferever so this can be time to require activity and get your position.

I understand that it might be a bit of a struggle for some people to get up to $100 per week in terms of their investment into bitcoin, and I am glad that you got up to that number for this past month.. even though for sure it might seem like a random target, but it does seem a bit better on the aggressiveness threshold.. and sure it might take you 10 years or more to get to something approaching fuck you status... but you will likely be much better off in terms of having a more aggressive ongoing BTC buying strategy.. so long as you are not over extending your own budget. 

So, sure perhaps a $100 per week strategy will not put you in a similar position as a $10 per week strategy from 9 years ago.. but each of us should just be attempting to do what we can to figure out what level of sufficiently aggressive we can afford to be.  By the way, a $10 per week investment into BTC for the past 9 years would put you at about 14.25 BTC... so yeah.. 10 years from now, maybe you could be approaching at least a good place.. but surely you are not going to even likely reach 1 BTC even  with $100 per week.. but that's o.k... there is no need to set artificial or even unreachable goals.. because each of us should work within our means.  I know people in real life, who have told me that that if they cannot reach more than 1 BTC then it is not worth it to even try.. which really on the face we can see to be a ridiculous defeatist attitude.. and even presumes it is too late, when it is not.

Another issue would be to be investing more than you can afford, which could cause you to panic at some point in the future... and it would not be good to be investing at levels that end up putting yourself into either emotional or financial distress.

you are best investor, you buy bitcoin every month no matter the price, when the price is high you buy and when its low you buy, you are a great investor, i think for 5 - 10 years from now, you will get the big return of bitcoin, keep investing like that man

So here once again i am back with you all to present my succesful 7^th month of Bitcoin DCA investment with you all and regular investing has helped me a lot.There were two weeks possible this time when i got it under $50k and just imagine how lucky I was to stack some additional sats at the same investment level of mine.

You feel panic and sell your stash but on the other side there are some like me who are accumulating more at these dips as i am putting more of my salary into bitcoin each time i make my next DCA move into it and have published some threads apart from it as why i trust bitcoin as my favourite investment plan.

Some will say i have funds that's why I was lucky enough to put some money into it but to tell you I am also like you all a normal working guy but the difference is you all have excuses but i don't want to be a normal guy anymore and secure my future and btc is best option for me and you choose your own way.

You can just check out how many sats i have gained through this DCA strategy and it's working completely fine for me and have plans to continue it for long with putting my money into it.

Daily so many threads are created on this section so it easily got buried under them unless someone did efforts to have a look at it and some other members have also said they have missed this one due to this.Trying to keep it up for members visibility

Have the same intentions to keep the thread updated until i pursue my bitcoin journey and will also try to post the profits balance sheet to give you all idea how come DCA investment is better then one time investment if i get some free time to make the sheets.I just want to promote Bitcoin investment among small investors who fear it or say it's expensive even if am crossing my limits to put $100/week you all don't need to go that way and can put whatever you wish keeping up the fees in mind and rest HODL is the key to success which you can do and have secured future.If i can you also can.

You likely already realize that I am going to be critical regarding various aspects of what you are doing - even though I surely am ongoinly applauding your efforts at the same time.

Part of my motivations to criticize likely have to do with the fact that we are in a public thread, so in that regard, there are going to be quite a bit of variation regarding how to firmly set goals that are personally tailored,  so maybe sometimes I may well end up criticizing you for either NOT clarifying your goals or perhaps having the wrong goals, so some of that would not even necessarily be personal to you, but instead just attempts to try to get folks to consider their BTC investments in concrete ways and surely perhaps to get folks also to attempt to be somewhat aggressive in the goals that they set regarding bitcoin accumulation while at the same time I would not really want anyone to be getting too far over their skis or overinvesting in such a way that would end up causing them to panic sell at the wrong time or some other actions that cause them to become too emotional about the role that their BTC investment is playing in their lives.

Surely, I applaud you, aysg76, for working your budget up to more than $100 per week, and surely I hope that those amounts are sustainable and not too much for you.  For sure, we can look back historically and verify that $10 per week would have turned out decently well for peeps investing into bitcoin, such as $10 per week for 8 years would have put someone currently at nearly 4.6BTC, which would have nearly a $300k valuation, so surely there could be some decent chances of that spot price appreciating to $1 million to $2 million in the near future (which could well happen this cycle or next cycle because it would only be between a 3.5x and 7x BTC price appreciation from the $57k-ish BTC price we are at currently), even if perhaps I personally am NOT too excited to take too many aggressive actions based merely on spot price, but spot price can still provide decent valuation frameworks for those who may even be inclined to cash out (which also I would not recommend playing your BTC portfolio like that) .  Anyhow, surely we can apprciate that after bitcoin had gone up thousands of times through several four year cycles, it becomes more difficult to get thousands of times of BTC price appreciation in similar time periods, even if we look out 10 years or more, there could be some possibilities of 1,000 to 10k times BTC price appreciation, but seems like a longer shot rather than something that would be very likely to happen....

By the way, I get my bullish as fuck price calculations about maximum potential BTC price appreciation from comparisons to gold in the sense that we can appreciate that bitcoin is much better than gold, but how much better than gold.. perhaps up to 1,000x better than gold under current BTC/Gold price evaluations..   So right we have BTC that is about 1/10 the market cap of gold, and if BTC were to reach 1,000x the valuations of gold at current price evaluations, then that would add up to bitcoin being capable of getting to 10,000 times its current market cap, and yes, I know that sounds fantasy as fuck because that would put bitcoin at a $1 quadrillion market cap and there are several folks who estimate the total of the worlds various forms of storage of value to ONLY add up to around $400 trillion to $900 trillion.  I know that Greg Foss has evaluated all of the worlds storage of value (which he calls reserve assets) at $900 trillion - and maybe that is amongst the largest of the valuations that I had heard from someone who is an expert in making those kinds of valuations assessments.

So maybe my own motivation for writing this current post does stem around your suggesting that you may well want to buy two pizzas with your bitcoin, and surely for symbolic and funzies reasons, there could be some entertainment value in that, but for serious considerations regarding where you might be at with your portfolio in terms of potential long term goals, there might be some desires to set your overall long term targets first.  I understand that I have historically asserted that getting to $1 million of value might be a good goal, but within about the last year and a half - especially seeing what has been going on since March 2020 and some of the revelations that some of us might have found from that timeframe (including various subsequent government actions and behaviors of people), so our previous decent entry-level of fuck you status would likely need to be moved from $1 million to $2 million for a lot of folks - at least in the west.
 
Sure, I could concede that someone like you, aysg76, might have way lower goals.. so maybe even reaching $500k could be a entry-level fuck you status goal for some folks?  I am not really sure... but I would suggest that the desire to buy two pizzas with your BTC (unless you are doing spend and replace) would not be a reasonable or prudent goal until figuring out what your entry-level fuck you status would be, and then maybe once you establish that, then perhaps, you could symbolically (or for entertainment/celebratory purposes) spend some of your BTC to buy two pizzas once you reach some symbolic level of that.. whether it is 5%  or 10% or something like that.. so for example, if you consider your entry-level fuck you status to be $500k (which many westerners would consider decently low), then 5% or 10% would be having a BTC valuation of $25k or $50k respectively.. .. anyhow.. that's my own thoughts regarding when it might become prudent or reasonable to spend some BTC.. so yeah.. the 5% to 10% of spot price fuck you level might be a reasonable spot.. and of course, I personally do not measure BTC valuations for the purpose of entry level fuck you status based on BTC spot price  (note 208-week, 104-week  and 52-week  moving averages for those more deep analytical purposes that attempt to account for longer term BTC volatility).. even though BTC spot price may well be useful for some kinds of celebratory/entertainment/funzies purposes.. from time to time.


Well Sebas.tian, if you had not realized, part of OP's motivation is to buy BTC on a regular basis at any price (which is also known as DCA (Dollar Cost Average) investing), and surely so far that seems to have been working out decently well for him because overall BTC prices have been going UP, in spite a few dips in the last 6 months since he had been buying BTC.

So there is almost some easy-peasiness in terms of the vast majority of anyone buying in the last 6 months to be profitable at this point.. yet in some sense if your views about bitcoin might be longer-term such as out 4-10 years into the future, then the fact that BTC prices are UP, DOWN, FLAT, or various combinations or rollercoaster in the shorter term might not be as BIG of a deal, even though surely several newbies feel MOAR better (warm and fuzzie perhaps?) when the dollar value of their BTC investment is up in the short-term, those kinds of matters should not matter so much for the first few years of the investment, and maybe ONLY start to become more relevant later down the road... .such as within a kind of 4-10 year time-frame, there might be some reasonable desires to be able to measure that the overall strategy and performance was the right thing to do and that the investment into BTC is working out overall, relatively speaking and in terms of considering if there might be some reasonable reasons to change the investment approach..

By the way Sebas.tian, personally I am not opposed to any kinds of BTC accumulation strategies that might supplement an always buying strategy (aka DCA investing), and surely buying on dips and lump sum investment strategies can be good supplements to DCA, even though DCA seems to be the best of strategies for accumulation for normies who might not have lump sums to invest and are largely just investing into BTC with their extra cashflow.

what i love about op is the determination and belief that few people have and two thumbs up for you because what you are doing is the right thing and i hope you edit this post every year with what happens to your investment because it will be very interesting

How have I not seen this topic?

OP, good on you! Plus it would help you to think that HODLing Bitcoin “is not the same” as merely investing in Bitcoin. HODLing is what the word means, to HODL.

Although, sell if you truly need another currency, but always leave some coins in cold storage.

A big congratulation to you because is not easy for someone to earned so much income for just six months in the community. I know many try to earn well like you but it hard them to make a good income within the six because the price of bitcoin keep drop at the time many customers were willing to sell in the market.
Many investors where still waiting for the price of bitcoin to go down for that six months before they can buy and hold Future which caused them to missed so much opportunity within the six months. Now that the price is still dropping, it will be a good idea for any customers to start buying bitcoin for future profit making.

Happy celebration mate and congrats for your sixth months of weekly investing , this is simple to think but harder to completed .

+1 on this . HODL guys.

while I obviously understand your reason , yet it is cool to share and hope many will take your experience and reason and adopt to themselves .

So now i have successfully completed six months of regular Bitcoin investment through DCA strategy and it is immense joy for me.The plans are to keep it going for long term until i accumulate enough to secure my future.

The best part is this time i managed to cross $100/week for investing in bitcoin and now don't say that i am whale who has enough to put in  because i am cutting off my expenses on wasteful stuff but to celebrate my six months Bitcoin journey i am going to order two pizzas for me as one day is allowed to spend on them if i have compromised long for them.Just keep in mind i am stacking sats not full load of bitcoins which you can also but some are busy criticizing it and giving out excuse that won't help you.You need to take some risky steps if you want to secure your future.

Hold,invest Bitcoin for your future

Soon i will print my progress report to share with you all to tell you why btc is my choice not any other shitcoins.

So we are down again and for some it's time to panic sell because the bubble might burst anytime but for the long term holders and DCA investors like me this is a great opportunity because you are going to stack more sats at this time which in turn are going to give out more profits to your total investment.If you think of becoming rich overnight then it's not possible and holding requires patience and your strong mentality.

So just HOLD for long term and it's going to recover soon as bull mode is starting..

There are plenty of evidence of people claiming that we have missed the boat and something like it's bubble but it all depends on how we see things.For many bitcoin might be just an ordinary currency and they like traditional investment plans but they tend to loose future vision and i am not convincing anyone to Bitcoin but simply motivating you all that it's possible to have full btc with stacking sats also and why we always think of acquiring full bitcoin? This DCA method is helping me to secure my future as well as give profits to which i am satisfied and not panic selling with this.Once you all know about the true picture of Bitcoin the scenario is entirely different.

Good journey and will be an important history for your life, buying bitcoin has made you profit, if you have more money of course will buy again, and this is a good example for me to dare to take risks by buying bitcoin and of course be patient to hold, already There is plenty of evidence that buying bitcoins is always profitable.

I am at continuous accumulation phase of Bitcoin with increasing the weekly budget till the time i can and with this month of investment there would be more stacks added to the total bitcoins i have acquired till this time.This thread only indicates the DCA strategy that I am implementing to show the small investors or those who have the fake thought of having full btc at this price and they cannot afford it.At one point i also started with $$20-$30 low and slowly increased but my case is only for long term.

Like you can sell whenever you see profits suppose if i have sold at ATH few days back there would be sufficient profit for me as you have also mentioned but my goal is not to trade at this time and only invest for future savings and hedge guard against inflation.This way the profits will be way more than we have expected along with future security and not worry about devaluing fiat or piece of paper only.

Each of us need to judge whether selling some portion of our BTC is any kind of good idea, especially if our goal is to acquire more BTC.. so in the early years of being in the process of BTC accumulation, there is a kind of need to just be buying BTC through the three main techniques of DCA, lump sum investing and buying on dips, and really you should just get selling completely out of your mind as a strategy to accumulate more BTC.

Once you reach a status in which you have a lot of BTC or you are greatly in profits, then there may be some prudence in considering including selling (small portions) of your stash in order to off-set volatility or various other goals that might not be directly aiming at accumulation but instead merely balancing your wealth in ways that are reasonable and prudent.

Each of us need to assess our own personal situations in order to figure out where these various lines might be in terms of how far we might be in accumulation stage or if we might also be overlying a kind of accumulation/maintenance stage, and surely I would not proclaim that it is prudent to keep too much of your wealth ONLY in BTC - especially once you reach a certain level of BTC accumulation and there might be some problems if you do not own other assets or currencies because of real world matters of expenses and just benefits of diversification of wealth - even if BTC might well be the best of the long term performers and prospects in terms of investing, it can serve folks quite well to have a decent amount of short term expenses covered whether having cash flow or trying to manage and maintain BTC holdings when they start to become way too much of your wealth balance... if that situation develops after 4-10 years of investing into BTC. 

By the way, if you are mostly investing with spare cashflow like OP suggests, it could take several years (4-8 years or more) to even reach points in which there are considerable profits or justifications to start to engage in some selling of your BTC in order to manage your BTC holdings and your overall wealth and allocations.


You are pretty vague in your comment CDC AP. 

One of the best ways to get into BTC is to start with some kind of reasonable level of DCA while you are studying the space... whether that is $10 per week, $100 per week, $1,000 per week, or some other level that you find to be reasonable for you and your situation.  As you study the space you can decide whether to become more assertive and aggressive towards your investing into it.. so probably in the beginning you might error on the side of reasonably small before becoming more assertive/aggressive.  Many of us are going to learn a lot more once we both formulate a kind of plan and begin to execute upon it  and then we can expand our exposure or the various ways that we are involved in the BTC space.. and there are surely a lot of things that can be learned and it can take a very long time before becoming more and more comfortable.. we have a decent amount of people involved in bitcoin for many years and do not really understand bitcoin very well or even NOT having had create a plan that is very tailored and customized to their individual situation whether that is merely balancing personal finances or maybe involving business finances that they might also want to expose within the bitcoin space.

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

Such a great journey man.  These days the price is so volatile that you really need guts to hold for even 4 months in straight row! I mean I keep buying and selling as I get the chance. Like if I see if I am in slight profit then I would just go in the market and sell it out. Later on I will keep buying when the prices are down, from the same money that I sold earlier. This just gives me small drift ahead but not as much as I could end up in doubling my investment.

I think one lesson is good from your investment plan, we should keep buying at different rates no matter what and keep storing the coins. The more I am scared the more I loose I guess?

Because just look now, you acquired 0.028 bitcoins which are worth more than those all four months at the yesterdays all time high. 

It might seems to be simple that holding is easy but it takes a lot of effort on the contrary side because you have to bear all that crash,dips and FUD and panic sell.Suppose you see some green candles on the charts and then you are happy to see profits but then suddenly all those crazy shit begins and they again tumble you feel frustrated also but the fact is if you are long term holder then it won't hurt you much and you only need to be calm as many are and many not and then price increases you are in profits.I personally have gone through these sentiments lot of time but believe this patience will benefit you in long run and you won't be regretting selling at this or that.

I would rather say it's good to give up junk completely but i am also of the opinion that you can enjoy some cheat meals in between and to have your favourite food sometimes as this is also nice enjoyment and often we need to have what we crave for.But there is difference between rare case and most often so make your investment with whatever you can.