Topic: My Past nine months bitcoin journey - page 5. (Read 2911 times)

Wow! Very inspiring post OP. It's difficult to hold bitcoins for a long term and also difficult to change your daily habits but you did it. This will help people here to follow your habit instead of wasting money in not necessary things or foods that can harm your health. It's really a good example for everyone and at this moment you already gain a lot of profit from your bitcoin holdings at the value of $60K above. Your example is a good motivation and I want to try it also.

What i think is many people will appreciate this effort but only a handful of them will inculcate it in reality and follow my methods.See i am not forcing anyone to invest in bitcoin but you can make investment according to your choice but the main concern is to make them at an early phase so you won't regret later on.This is my way of motivating you all with my DCA investments and see i will be earning profits in long run but those who just ignore this will keep giving same excuses like they give today and will face some worse conditions.

A new habit that should be imitated by anyone. Setting aside the money you usually spend on junk food and then diverting it to buying Bitcoin is a smart move and requires high consequences. You can benefit from every investment in the future.

I also sometimes feel that there are some good threads on this section of forum piled under the load of other irrelevant ones and because of it started posting less here but few a times when i feel suitable to post or find some good discussion thread i visit this section and make posts not regularly.So this DCA thread fits here so made under this section.

I always heard people making various excuses like that bitcoin is very volatile which is true and others are saying the prices are too high and not affordable so it's just a lame excuse made by them and wanted to make them visualise that fraction of bitcoin can also be bought without going for full bitcoin and that's the beauty of bitcoin.The Lowest unit is Satoshi and you could also invest $10 minimum keeping the fees in mind.This is my weekly savings going for my future security.Like you said if we have done at an early stage then the time would be different for us but still it's not too late as if you cannot be a whale it's better to be coiner or say small fish instead of staying out and watching inflation and Governments robbing you up of last penny or we can say no- coiner is term for them.Although i have not set aside any price goals but keeping up it for long term and to accumulate more and more that i could till the time i Don't have surplus funds so whatever the prices are now only saving and who knows $100k is no more dream by the end of 2021

Thanks for the kind words and yes maturity is when you realise that saving for future is must to enjoy your old age as saving don't always implies that saving for our upcoming generations.We waste so much money on different useless items and on junk food and i don't say it's wrong but just cutting your expenditure a little to divert the funds for some investment like bitcoin which will prosper your networth and health in future is must taking decisions.I personally don't want to be a guy who only enjoyed his teenage and now is working his ass off on job just for bread butter.I also made this thread with the intention of giving some motivation to people that it's still not too late and make your investment wisely even with low amounts you can but with consistency which will help you a lot.

That's the spirit and you don't need to put exactly the same but just put on some or more according to your wish and as you said until its Bitcoin it's all good to go.But don't put for short term and don't get dispatched with Little dips or volatility and hold for long and you will see profits on your investment.

This is what I miss when I have the Bitcoin Discussion section on ignore.  Sigh.

OP, this is a great thread for one.  It shows others that putting aside just a small amount per week (granted, it's not small for everybody) for bitcoin can add up in terms of BTC and its fiat value pretty steadily.  Imagine if you'd bought $25/week worth of bitcoin back in 2015 or at any point when it was worth, say, $10k.  That would have been a hell of a return--but who knows how high bitcoin can go at this point?

Second, I assume you're probably young, and cutting back on things like fast food delivery and using the money to invest for the future shows a lot of wisdom and maturity.  To all the young people here in their 20s-30s, I'd advise you to follow OP's plan or at least do something similar, even if it's investing in stocks, metals, or what have you.  You'll be glad you did when you're older and have a family--or even if you remain single.  There will come a time when you either don't want to work anymore or can't, and you'll be in deep shit if you don't have a nest egg.

Glad I saw this thread, OP.  Props to you.

This is so interesting. I'm gonna emulate you, it is not easy to be discipline to make  such investment. I am sure if can invest even the little I have with me it will be profitable. I'll make this a target as far as it's Bitcoin I'm good to go.

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.

As I was busy in other works and was not getting time to update you all with this month DCA investment strategy but now @OP has been updated with the 5 ^th month of bitcoin investments done by me by putting my extra funds into it and frankly speaking I am now enjoying this journey seeing my profits. There were two things like prices of btc reach its ATH above $65K and my profits increased the same way but on the contrary basis I accumulate less sats due to high prices but that's the beauty of bitcoin that you could buy it in fractions also.I was into putting money into it no matter what the prices are and will continue the same for future also.

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HAPPY ATH TO ALL THE BITCOIN HOLDERS..... ( Especially written it in green for the green candles over the charts  )

Now you see how bitcoin DCA investment could be worthy and my small investment have yeild me high profits with bitcoin reaching new ATH of above $65k and more to come.This is the power of king Bitcoin.

The @OP thread is going to be updated with this month investment charts most probably tomorrow.Not going to close this so easily because i am the long term holder and will keep you updated about the same for small investors motivation also.

I don't know which altcoin you are talking about and really don't want to know because for me bitcoin is the only best option available for doing my DCA investment strategy and as @JJG pointed out this might not work with shitcoins.You are saving each month as you said so why not bitcoin to do so? If you can have fraction of it only and you could stack ubtc or mbtc or even lowest unit of btc that is satoshi with $50 also btc is best option.There are certain reasons for this :

Your shitcoin might not provide return in future

They are not at all secure like bitcoin and centralised control over the currency in most of them which is easy to attack and dump the coins

Your $50 might turn into $500 with it but after the crash it will be worth $5 only

So if you want to follow then do the exact because this thread will help only bitcoin maximalist.Hope you understand.

This thread is not about shitcoins..

So likely the DCA method may well not work out..   

In other words, either get the fuck out of shitcoins, or take your conversation about what are the possible pros and cons or additional factors that you may well need to consider if you are going to have any value parked in any shitcoin.. including regularly investing in such nonsense.

I am following your method of saving in another crypto coin not in BTC. I separate a part of my income for buying a top most coin every month and happy to see the value has grown well now. I am not going to take them out in very near future, but going to hold them. I almost save just $50 every month. I have almost saved 150$ so far. Hope this practice will yield me huge money in the future.

Largely I had been DCA investing about 5% to 30% (with a more common amount of around 10%) of my income into various investments for about 25 years before I discovered (and got into) bitcoin, and I frequently found temptations to dig into my investment or even temptations NOT to invest (and to consume instead), so of course, there can be dilemmas about whether to live well today or to delay gratification into the future. I have never had any investment have returns even close to the numbers that bitcoin has returned... so I can say that some of the considerations will change once your portfolio gets really high into profits and you overly exceed your investment goals.. so you will move from accumulation, to maintenance and then to liquidation.. so perhaps I am in a stage of maintenance and contemplating further practices of liquidation...

There is not too much financial pressure as i am cutting my junk food budget and investing the same into bitcoin but sometimes you can say i go above those level and invest my extra funds into it which i might need later on but you have to bear some financial problems not a big level but still little bit if you want to secure your future ahead and that's how bitcoin investment works.

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This month DCA investment will be updated in @OP shortly as i am busy somewhere so unable to do it but will surely do it soon

JayJuanGee, I know that percentage may not match the financial condition of others considering that each individual has different need. Usually I need $200-$250 to make ends meet me and my family for 1 month and that amount is 50% of my total monthly income. So if I invest in the range of at least 20% to max 50% every month then I probably don't have a big problem. But I will not do it to the maximum extent because maybe I still need a reserve of money if needed at any time. 30% is the most likely number for each current month and the remaining 20% ​​is for reserves.

You are not necessarily wrong BITCOIN4X in your stated level of aggressiveness in terms of the amount that you want to invest on a regular basis from your income.  Historically, I had always shot for investing at least a minimum of 10% from my income, and sometimes there is not enough cashflow to go very much higher than that  - but surely individual circumstances are going to vary in terms of what is feasible, reasonable and prudent.

It seems to be bad advice to suggest investing 20% to 50% without really appreciating the variance that is likely to exist including that there are likely needs to consider having an emergency cashflow.. and bitcoin can be very volatile, so I would not suggest using bitcoin as an emergency cashflow resource, so in the end each person should be assessing all of his circumstances in deciding how much they are able to invest on a regular and ongoing basis which would include assessing their cashflow, their other investments, their timeline, their view of bitcoin as compared with other investments (and surely there could be an assessment to ONLY invest in bitcoin), their risk tolerance, their time, skills and abilities to plan, strategize, learn along the way and to tweak their plans/portfolio from time to time which may include trading and reallocating or the use of various financial instruments, and of course, the more basic systems would not include trading or the use of financial instruments until making sure to get all of the individually tailored basics in place first.

By the way, when I was in my younger career and college years, I frequently felt that I was struggling even to put 10% of my cashflow aside.. yet there were periods of time that came later down the road that I had gotten to investment levels that were quite a bit higher, even approaching 40% at certain times. .and at the same time, there may well be some needs to increase cashflows and/or decrease expenses to be able to accomplish higher levels of regular investing which would not be for the faint of heart or for anyone who is into spontaneous consumption or inabilities to delay gratification. 

You can save 20%-50% of your monthly income to invest in bitcoin if you want because that method won't hurt you financially in my opinion. I have this habit since I joined this forum but unfortunately I only started in the last 1 year because I previously invested in gold. I don't want to beat myself up as to why I didn't do it in the first place, it's a difficult decision to explain when we look at the fact that bitcoin can go beyond what most people think is impossible. Now I enjoy it.

Of course, once you realize that you can buy small amounts, then it is a matter of shopping around for ways that you might not get too much gouge from various fees.. whether it is buying $10 at a time or $100 at a time, I tend to recommend attempting to buy at least weekly, but sometimes if you are only able to save around $10 per week, then it might make sense to do monthly purchases of $40 per month..

Fees are definitely going to vary, and let's say that you want to acquire bitcoin from peer to peer transactions using cash, sometimes the otherside won't even transact unless you are able to come up with a certain value, whether that is $300, $1,000 or some other value that they believe is worth their while in transacting.... there are several exchanges that allow small transactions, but their fees are going to vary.. even though we know that there are some initiatives to really bring down fees through some of the lighting apps (including like the Strike app and some of Jack Mallers work) and maybe those kinds of competitive initiatives will translate to the fees that are charged in various kinds of onboarding into BTC possibilities, too.  Shop around, and share.

I have never thought of buying Bitcoin with such a small amount. Thank you for giving a demonstration and inspiration.
I used to think that it would only make sense to invest a lot of money.
This way of using pocket money to buy Bitcoin is easier to hold for a long time. Because there is no financial pressure.

You could probably explain him in detail how Dollar cost averaging (DCA) investment strategy works that could help us to stack more sats at the same funds.I have been doing it from past few weeks and ignoring the prices and not seeing that whether it's time that btc is embarked or not and continue to invest my funds in it without any expectations.



Make bitcoin investment but have long term goals and i agree with @JJG on that point.