I wonder wtf I was doing when btc was $500-$1000
Only if I had given it a chance and even DCA'ed $100 monthly, would have made me life changing money. At some point btc was $200 for fucks sake. (in 2015) Took so long to get to the mind state which I have now.
People tell young people that they should take more risks than the old people but in reality, young people are scared as fuck to lose whatever little money they have. (that was me)
Old people on the other hand, most of them are already rich and they were casually buying 10 bitcoins from $500/$1k.
I was scared to spend $100 on btc in 2014.
It is like, the more poorer you are, the longer you stay poor.
The more richer you are, the shorter it takes to get even more richer.
edit:
lol Could have been $100k richer it seems. Sticking to that $100/month DCA strategy would get me more bitcoins than what I have now. Impressive.
Agreed. Dollar cost averaging can be quite powerful as an accumulation tool and even as a maintenance of portfolio strategy, especially over several years and with an asset (like BTC) that has decent chances of going up.
For hypothetical, I plugged in $100 per week starting from September 1, 2017 (towards the exponential growth period of the last bubble):
https://calculator.for-bitcoin.com/?amou...&year=2017The calculator shows that such hypothetical person who started buying into BTC towards the beginning of the 2017 exponential period would have spent about $10,800 and have about 1.7BTC and would have a value of a bit more than $17k today.
Not bad. About a 60% return in two years.