Quote from: teosanru on October 28, 2019, 12:29:16 PM

Quote from: grintsch on October 28, 2019, 11:28:39 AM

I've been tossing around the idea of starting a group of people who are committed to buying Bitcoin every month. Can be a small portion, like 5$, or however much people can afford (I suppose it would make sense to use higher amounts for fee reasons, though). I myself have set up a monthly wire transfer from my bank account to Coinbase and a recurring purchase of Bitcoin every 1st day of the month. This is really simple, and you keep investing and $-cost-averaging your BTC purchases.

Who's in?

The thing is that $5 is a pretty minute amount as that means $60 an year which really is considerably low if you even consider the various fees exchanges charge even coinbase has also been known for charging high fees. I think the strategy which you are saying is good but the problem here is execution. Averaging is really good but if you are thinking of something which has a great life over larger term of 20-30 years but I think bitcoin is still not that much mature.

That's true. 50$ per month is probably more like it, but I've also seen people buying tiny amounts of crypto (literally 5$) with credit card repeatedly.

The fact that Bitcoin isn't mature, yet, is exactly why I think it makes sense to invest small amounts continuously. If something like John McAfee's prediction (I know) ever happens, having bought BTC for a few hundred bucks over time will have tremendous impact.