Quote from: rpietila on November 25, 2013, 08:43:22 AM

Thank you for your feedback, but:

NO. DO NOT "DOLLAR COST AVERAGE", SINCE IT LEADS TO A MARKEDLY WORSE RESULT IN EVERY SCENARIO WHERE BITCOIN CONTINUES APPRECIATING AGAINST THE DOLLAR AS HAS ALWAYS BEEN THE CASE SO FAR.

Other points are correct.

Good point, but what do you think about this argument :

Quote from: BlueTemplar on November 11, 2013, 09:35:00 PM

I think that's right, but for another reason : if you're new in bitcoin, then it's statistically more likely that a crash is about to happen (because of how the hype machine and bubbles work). So in that case, spreading the purchases over some time is probably better indeed. Or you could wait to buy after the crash, but in bitcoin's case it might be risky, because if you noticed the bubble early enough, the low after it pops might be higher than when you were ready to buy at the first time.

?

That certainly happened to me, buying my bitcoins all at once just before the crash of 2011 and the long, depressing "crossing of the desert" that followed. I did the "research bitcoin to decide whether it's worth investing in for a week and watch the price double during that time, then lose sleep and panic buy, then watch the price plummet in a few days" thing. Now, I guess if I was more experienced, I might have noticed the mania around bitcoin at that time, but experience is exactly what newbies lack...

Bump :

Quote from: rpietila on November 24, 2013, 07:58:06 PM

Newb mistakes:

- After hearing about bitcoin, discredit it based on horrendously misguided and biased 'information', derived from mainstream sources.
- Waiting several months or years, during which time the price appreciates 1 or several orders of magnitude.
- Deciding to buy after the next dip, leading to panic buying near the top before the next crash.
- Buying too late and with too great % of portfolio, instead of as early as possible with quite small cash outlay.
- Selling after a runup in anticipation of a crash. (Only sell when you are manic to buy since 'it's going to the moon')
- Selling after a crash in anticipation of buying back cheaper. (Never happens, sorry.)
- Selling after a too small gain with no strategy and no need for the funds ("I sell after 20%, 50%, 100%..." <-dude, bitcoin's appreciation so far is 50 MILLION %, want to reconsider..??")
- Selling, because you believe bitcoin has reached a 'bubble top' or a 'fair value'.
- Selling a too great % of holdings, such as going totally in and out.
- Selling.

P.S.: It's funny that (after one week trying to short the current bubble (?), and probably selling too much, not to mention wasting one week of my life staring at charts), I decided on a "selling plan" very similar to yours.