Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
From my perspective - potentially flawed - overall miners do not tend to be very whimpy unless they are completely selling all of their coins on a regular basis.. and maybe even failing to study into bitcoin.. .. and since I was a bit presumptive in not even recalling that you had a mining background, that means several of my premises for my framing of "what is whimpy" may well have been off in the first place..
I used to sell all my coins at the beginning (to cover power and equipment costs). In hindsight it would have been much better to accrue debt instead of selling at $300. Lesson was learned at some point in 2016, just in time for the bull run of 2017, and that's how I ended up with some coins to hodl and was able to get my mining "farm" to a no-pressure-to-make-money hobby type of thing.
So it depends on how you look at it. I did not invest $50 or $100 per week on an exchange. My investment was through equipment and electric bills and was kinda undisciplined at first. I didn't even have the goal of accumulating bitcoins, was mining mostly shitcoins initially, so that I could get bitcoins so that I could buy proper bitcoin ASICs, etc.
Not only that, but also - if I had put all that money into Bitcoin directly in theory I'd have a lot more bitcoins now (some of those ASICs were woefully unprofitable), but in practice I think I would have dumped them early anyway. All the lessons learned along the way had to to be learned. Spending 8 BTC to make 5 BTC is a good lesson, trust me
I think almost every single one of us has a kind of tendency to want to overdo it (and want to gamble and wants to expedite our process of becoming more richie faster).. and nearly every single one of us has to fight back those kinds of urges.. because there are also folks attempting to tempt us into spinning the wheel.
For sure, none of us should necessarily act as too much of a prude on these kinds of balances, because each person does need to find his/her balance and to feel some freedom in rolling the dice if they want to roll the dice... point.. and frequently I believe that there still can be ways that regular folks can still gamble with part of their funds in order to scratch aspects of their itch and to have a little fun.. maybe less than 10% of their value or some prudent amount.. should be fine.. but again and again and again.. the inclination to gamble tempts many folks to go too far without having adequate principle preservations (building) mechanisms in place.. and sometimes we do hear about those guys who had nothing and went all in.. and maybe some of that is spin. . but some of the real success rags to riches do involve outrageous kinds of doubling, tripling down.
For sure, none of us should necessarily act as too much of a prude on these kinds of balances, because each person does need to find his/her balance and to feel some freedom in rolling the dice if they want to roll the dice... point.. and frequently I believe that there still can be ways that regular folks can still gamble with part of their funds in order to scratch aspects of their itch and to have a little fun.. maybe less than 10% of their value or some prudent amount.. should be fine.. but again and again and again.. the inclination to gamble tempts many folks to go too far without having adequate principle preservations (building) mechanisms in place.. and sometimes we do hear about those guys who had nothing and went all in.. and maybe some of that is spin. . but some of the real success rags to riches do involve outrageous kinds of doubling, tripling down.
To me DCA is already enough of a gamble (will it go down? OR UP? WILL IT?#!??), beyond that I'd just to a casino if I want more excitement. So I don't really have much of an itch to catch a bigger dip or dump at some specific point (my occasional dumpenings are dictated by bills and tax implications more than anything else).
Got some more cornage at 19, set up a new buy at 17.