Quote from: Paashaas on Today at 04:43:43 PM

Central bank digital currencies get full BIS backing. Tongue

Quote

The Bank for International Settlements has given its full backing to the development of central bank digital currencies (CBDCs), saying they are needed to modernise finance and ensure 'Big Tech' does not take control of money.

Strange way of framing the matter, though not really untrue.

Quote from: LoyceV on Today at 04:53:00 PM

Quote from: JayJuanGee on June 22, 2021, 08:04:13 PM

Quote from: LoyceV on June 22, 2021, 02:49:10 PM

Quote from: UnDerDoG81 on June 22, 2021, 02:29:56 PM

Crypto is death comments starting to Pop up everywhere. This time for real? Cheesy

(source)

Quote from: UnDerDoG81 on June 22, 2021, 02:43:18 PM

I take out all my cryptos from exchanges now. Will not sell anything.

I spent too much money on Doge (while sleeping) Cheesy

I had sold some, bought back, sold again, and turned a profit in euro. I set buy backs orders all the way back to a fraction of a cent, the higher ones triggered. So I now have more Doge than I started this adventure with, and still euros left. I'll see later whether or not buying back was a good call, but ending up with more than I started with doesn't feel like an absolute loss.
I kinda hope Doge will go all the way down, then I'll be ready 4 years from now when it hypes again.

Are you purposefully trying to irritate peeps here? Roll Eyes

No, not intentional Wink

It's just that I wouldn't dare do that with the real thing, Bitcoin is for HODLing (and the occasional payment), so I don't keep it on exchanges.

Oh for sure any of us can be motivated by Gresham's law, even if we do not know what is Gresham's law.

People do it all the time. They perceive certain kinds of values for spending and other kinds of values for holding, and surely if they run out of all the spendables, then they have no choice but to spend whatever they happen to have.

Quote from: LoyceV on Today at 04:53:00 PM

Quote from: JayJuanGee on June 22, 2021, 08:54:13 PM

Quote from: LoyceV on June 22, 2021, 02:54:39 PM

Quote from: JayJuanGee on June 22, 2021, 02:49:40 PM

Selling now would be for the purpose of either manipulation or panic.

It always feels like I'm being pulled 2 ways:
1. They want me to sell when it drops!
2. They want me to get hope again when it goes up a bit!
So I do what I always do: I'm not buying, I'm not selling. Just making sure I can afford to pay my taxes next year

I suppose that is one way to deal with the situation, especially if you feel that you have accumulated enough BTC.

I wouldn't say "it's enough", but it also feels like there's not really a point buying dust amounts now.

Well, only you can decide how much is enough and your various other personal factors in order to attempt to achieve your various targets including considering what your timeline might be, so if you have 4 years or more before you are going to need to draw upon your BTC, then it could well be justifiable to continue to buy on dips and to DCA.. .. but sure you need to have enough for the taxman too.. you would not want to get caught having to cash out of any of your BTC that is at any time except for your own choosing.

And, in regards to dust, it all has potentials to be adding up if your time horizon is long enough, and surely I have frequently said that a lot of investors are going to likely need to have at least a couple of bitcoin cycles in order to get to the point where they are starting to be in very decent profits.. and we can never really know whether we are at the bottom, the middle or the top.

I have told this story several times, Loyce, so I don't want to bore you with my repetition, but I do believe that it remains illustrative of various points that I want to make in terms of continuing to accumulate BTC until you are comfortable for where you are at.. and maybe even it can be good to become a bit over invested, especially if you happen to believe that BTC continues to have decent chances of being the fastest horse in the race...

Anyhow, in late 2014, I had considered that I was mostly at a level of BTC accumulation in which I had sufficiently reached my BTC accumulation goals.. which was 10%, so at that point, even though I continued to set up a reasonably modest DCA practice, I had ended up investing more into BTC during 2015 and even accumulating up to 13.5%-ish which would have been a kind of over accumulation because of exceeding my goal to reach 10% and because BTC prices largely remained way lower than my costs per BTC during that whole year (2015).

Several times in 2015, I made purchases of $25 or some other stupidly modest amount, but sure, even $25 would have been 0.1BTC, and at the time, it seemed like just pocket change.. I mean I had some pretty heavy cashflow problems through about late January 2015 until about May 2015, so I had ONLY made a few BTC purchases during that time, but seems to me that by May 2015, some of my cashflow issues started to work themselves out, so I could resume buying BTC from time to time. I did make a couple of BTC purchases in that January 2015 to May 2015 period, but relatively speaking they were pretty sparse based on cashflow issues that I had related to another business that I was in (and it was not a bitcoin related business).

So, if we look back to 2015, we are talking in the ballpark of 6 years, which is 1.5 bitcoin 4-year cycles.

I will also concede that I also was able to cheat a wee bit in my getting into bitcoin because when I came to the bitcoin table in late 2013, I had already established a decently sized investment portfolio that did not include bitcoin, so when I decided to get into bitcoin part of the initial motive was just to divert what I already had into bitcoin, and then by the time we were starting to get close to late 2014, I had decided to establish the amount that I was investing into bitcoin to 10%, but that was 10% of a set of funds that were already a decent size.. which could well put me in a bit of an advantage as compared with someone who is starting from scratch and it could take them 3 cycles or more before they really are able to reach their BTC accumulation goals.

Quote from: LoyceV on Today at 04:53:00 PM

Quote from: JayJuanGee on June 22, 2021, 08:54:13 PM

I personally believe that one of the most guaranteed aspects of BTC is volatility, so if you can establish ways to deal with that volatility without getting bothered then it is all good.... One of the strictest ways are ongoing DCA buying and buying on dips.. one of the problems with the buying on dips portion is to sufficiently measure yourself so that you never run out of fiat.. sometimes easier said than done, especially during seemingly extreme dippening times.

DCA is only beneficial if the value is dropping, if it's going up a lump sum is better.

Fuck that nonsense Loyce. Of course, there is an advantage of lump sum investing, but a whole hell of a lot of people do not have a lump sum in which they can invest.

Sure, overall I agree with your point about lump sum first, but once you have invested, then you should be converting over to DCA with a regular amount on a regular basis. Sure, you can save portions of your money for lump sum investing and for buying on dips, but if you hold back too much then you would be disadvantaged too.. so DCA is a really great practice because you neither know for sure which way the BTC price is going to go, and you do not have to stress out about attempting to guess, and surely you do not have to do an all or nothing approach, and likely I do not even need to show you the DCA chart, right? From your time on the forum we could use 6.5 years or maybe 7 years as your BTC investment time line and figure out if you have at least matched that level of return with your own investment style over the years (talking about the percentage of returns).

Ok... what the heck.. here goes. I plugged in your BTC investing start date for DCA'ing as February 26, 2015, and then I put $20 per week for your amount. So what do we get? We get that you could have been able to get around 35.6x returns on your DCA way of investing into bitcoin. Hopefully, whatever you are doing is getting in the ballpark of that... I am not suggesting that some of us might not make mistakes along the way or that your performance could have been either higher or lower than the DCA.. but if your system is not getting somewhere close to DCA then there is a lot of need to question your system.. and don't be knocking on DCA in terms of DCA historically being a very powerful strategy... and there is no real evidence that you are going to be able to outperform DCA in the future.... especially if you are not already sitting on a lump sum that you can put into bitcoin right now, as I type this post... or some reasonably prompt period thereafter.