I am willing to take the risk.
Golden rule: don't risk more than you could afford to lose.
Exactly, mindrust.
I see you are going back to basics.. which is not necessarily a bad thing... especially if you know that you had missed some basic lessons along the way, in your first 6.5 years investing into bitcoin.
Maybe in some time that is less than 6 years, you will be in a similar place to where you had been.... but even MOAR better, because you are starting from the beginning and getting rid of some of your old bad habits, presumably.. we hope... We hope..
By the way, I feel a need to repeat myself; however, after a bit more than a year and a half of my having had invested into bitcoin, which would have been about July/August 2015 (right after the BTC price had shot up from the mid $200s to $317 and then largely corrected back below the mid $200s), I had decided that, at that point, it was o.k. (permissible) for me to invest a little bit extra into bitcoin (slightly beyond what I had considered to be an acceptable level of investment), so that I would feel comfortable selling a little bit of bitcoin once the BTC price would go up, presuming that at some point BTC prices would go up.... and yeah, by then we had been mostly bouncing around in the mid $200s for a considerable amount of time.. in spite of the one bounce above $300 in mid-July.
Sure, there was a bit of a presumption in my continuing to invest in bitcoin and developing a plan to overload my BTC investment a bit, so that at some point, I would feel comfortable skimming some off with the presumable upward movement of BTC's price that might have never come... I presumed based on some level of confidence that I had established by studying the space for more than a year and a half, that I was investing in something that had decent fundamentals and that at some point the BTC price was going to go up, yet at the same time, if the BTC price had continued to stay flat or to have gone down from its then $200s in 2015, I would have merely just continued dollar cost averaging buying.. but probably keeping my investment amounts very low because I had already felt that I had invested a lot into BTC and my then investment was floating around 50% in the negative when the BTC price was in the mid $200s because my costs per BTC were around $500.. but slowly coming down.. but still pretty damned high, relative to the then price...
Presumably, I was prepared to ride it all the way down to zero, even though I had only been tested to $150 in around late January 2015 and down to around $200 in late August 2015... So, yes, even those downward tests were gut wrenching.. and something that caused some test of my determination to ride the whole thing down to zero, if need be.. because I did not see any meaningful undermining of BTC's fundamentals in 2015 as compared to when I had started to invest in late 2013, and I saw the fundamentals to have been stronger in 2015... just like I see the fundamentals of BTC to be several magnitudes stronger than they were just a few years ago... even as compared to the late 2017 top of or then price spurt...
in other words, BTC seems to be fundamentally stronger today than it was in late 2017.. .. and sure you can believe otherwise, if you like and temper down your investment level to the level of your belief in the strength of BTC's fundamentals. Like you said, don't be willing to invest more than you are willing to ride all the way down to the bottom, if need be... and hopefully, it does not come to that... hahahahahaha
Define risk. There for example is quite some risk getting more dollars for your bitcoin at a future date.
Some people don’t like taking that risk.
What Is Risk?
Risk is defined in financial terms as the chance that an outcome or investment's actual gains will differ from an expected outcome or return.
In my opinion risk usually translates into volatility on charts.
The more wildly it goes up and down, it means the more risky the asset is.
Not always but usually that.
Read the bold part, it means you may make more or less value than what you expected.
You seem to imply that risk of going to zero is different from volatility risk, which would be true, but at the same time you are convoluting the concepts (which would be erroneous thinking).
There are different tactics that BTC investors can take to protect themselves from volatility risk as compared to the risk of BTC going to zero. Not investing more than you can afford to lose is one of the main ways to protect yourself from going to zero risk.
Buying on the way down, dollar cost averaging and selling on the way up are some of the better non-leveraged ways of lessening volatility risk (or taking advantage of volatility to profit from it, as long as BTC does not death spiral down to zero).
I am willing to take the risk.
Golden rule: don't risk more than you could afford to lose.
Or take a good risk with insane fundamentals and potential... and adjust your lifestyle if things get difficult on the way
Indeed, If the fundamentals of the asset are stronk af, that's the route you should pick. Can't deny that.
But then, that's not taking risks if the you are 100% sure about the potential and the fundamentals of the asset (you know something that others don't) that is being clever than the rest. That's when you go all-in.
If there is one thing I am sure about, it is that I can't be 100% sure about anything.*
%99.99 maybe, not 100%.
That means I am not sure about this* neither. Whoops.
Admit it.. you are barely even 50% sure... that's why you fucked up on March 12, and then doubled your fuck ups on subsequent days and still kind of fucking up because you are still having some troubles getting in touch with your own doubts that are compounded by your desires to gamble... which in your mind you are still gambling that BTC might go down to sub $3k, which will cause you to go all in.. or at least get some feelings of vindication (which is not very likely to happen, and you know that and continue to struggle with it. That's why you bought 1 BTC at these prices last week-ish). You fuck....
@mindrust: I'll say this, with good intentions:
I fear that you're going to feel really bad soon... To the point of going insane. Just try to prepare yourself psychologically for this eventuality.
I don't believe I will.
I mean I still got both my arms and legs, didn't get covid19 (yet), got some decent FIAT in my bank, still making money from my work, I don't expect to get struck by lightning soon neither, even though the possibility is not zero.
What if BTC goes to new ATH's? Why would I be mad about it? I already got some exposure there. If it goes up a lot, that's fine. It is free money anyway.
I didn't suicide for not buying btc from $100 even though I saw it exactly at that price. Why now...
No thanks I am fine, hopefully will keep being fine.
Good point.
My DCA strategy was going rock solid while I wasn't greedy, the moment my greed took over, It stopped working.
I have a new strategy now...
It will work unless it doesn't. I am not willing to share the results here though.
That might be a good idea. We know too much.
Though I do hope you buy back 1 coin and slowly buy when possible
I will get to 1 full coin. (at least) Not instantly but I will.
Good then your future is set
Not sure about it. To me, it is just another fun lottery ticket.
I stopped being so obsessive with bitcoin or crypto. Chasing some other obsession now.
Found some other way to keep my brain busy.
In other words, you are still a lost puppy... at least when it comes to your understanding of bitcoin, even after you have had more time in the forum than me. Might have to go back to AlcoHoDL's assessment that you are likely going to regret that you have lost your way in regards to understanding bitcoin and having a decently solid BTC investment strategy that would likely be more than just aspiring to 1 coin, especially if you had previously reached 10 (of course, then over bought and over extended, but 1/10th seems underexposed, but whatever, you have to decide that for yourselfie).