Quote from: WatChe on July 27, 2022, 08:17:31 AM

Quote from: JayJuanGee on July 27, 2022, 04:56:42 AM

Quote from: friends1980 on July 26, 2022, 10:46:10 PM

6 years of membership on these boards today. Also, 6 years since buying my first BTC today. Also, 6 years of hodling today (well.... at least for a great part).

First of all congrats on all three of your anniversary items all falling on the same date. What a coincidence.

Of course, lump sum investing is easier to calculate, and in mid-2016 we largely had a rip up from the lower $400s until the $700s, but then we had the Bitfinex hackening crash that pushed up back to the lower $500s and even taking awhile to get back up to $700 but then into 2017 we had ongoing uppity throughout..

Surely not easy times for ongoing buying either.. but would have been the right thing to attempt to front load between $500-ish and even lower $2ks.. which could have been accomplished for your first year.. even though we all make mistakes along the way, too. I am not going to attempt to make too many presumptions about your situation, even though if you were able to get away with an average BTC price of less than $5k or even less than $3k, you have been decently well (and maybe some devils in the details regarding how many you got.. which is your own business)..

@friends1980 congrats for completing 6 years of your bitcoin and bitcointalk.org journey.

@JayJuanGee, I first came to know about Bitcoin in second quarter of 2017 and AFAIK price of bitcoin at that time was around 1200$ to 1300$. Digging deep the bitcoin at that time I came to know that price of Bitcoin is now very high compared to what it was in 2016 and in previous years. I have to admit that I say to myself that "its too late now to buy Bitcoin" (someone completely new to Bitcoin can say that) and then we saw ATH of Bitcoin on 19 Dec 2022 i.e. 19k$.

After spending few years in bitcoin I can safely that current price of Bitcoin is not very high and its good if you can start DCA at this price.

And yes its not late to buy bitcoin even now.

Well WatChe, it is not easy to say what time is the best time to get into bitcoin, and surely it would seem that our having prices right around the 200-week moving average would be a good time to get in and to establish a position; however, part of the problem remains that it can take quite a long time to establish a reasonable position into bitcoin unless you are already a mature investor with other assets, then the bitcoin newbie could merely establish a strategy of reallocating into bitcoin...

Mature investors will sometimes be nervous about employing any kind of straight reallocation into bitcoin, so sometimes instead they will merely divert new cash to be invested into the new asset (in this case bitcoin) until the allocation target levels are reached... so if we are in the bottom and we can stay here for a while, then it will surely end up being a great time to invest, but we could either experience a fake out run upwards or even a real run upwards, and then sometimes the new investor could get nervous and make some bad moves in terms of chasing the BTC price up.. but still it seems that mostly I agree with you that it is difficult to paint scenarios in which getting in now would be a bad thing.

The newbie without very much cash will likely be more frustrated by getting into bitcoin now, but newbies have to work with what they got in terms of figuring out how aggressive that they can be and also maybe if they can figure out ways to generate cash or extra cashflow to be able to put into BTC... which of course, I love DCA, but sometimes there can be some value to lump sum invest and maybe to have some reserves to buy on dips, too.

Quote from: Y3shot on July 27, 2022, 09:41:58 AM

Bitcoin can't be for everyone, it's either some are hodling or some are selling at any giving price. If everyone decides to hodl and sell when the price is high, its impossible. Bitcoin is made particularly for the strong people. 💪

No.

Bitcoin is for everyone, and surely some people will do better than others in terms of getting their shit together earlier than others in order to both establish a stake in BTC and to not overplay their hands in order to continue to accumulate up until a point of sufficient comfort and to have more options from that point on.

Those who establish a sufficient sized stake earlier will likely do better (relatively speaking) than those who come in later, but there are also going to be some counter-examples, so even though Michael Saylor came to bitcoin pretty damned late (relatively speaking), he is likely going to do much better than some of the folks who were similar financial status as him, but who were less decisive in their action and failed/refused to take a sufficiently aggressive stance.

Don't get me wrong. Even whimpy investors into BTC have decent chances of doing quite well in bitcoin, especially since we are still quite early, so the whimpy investors are still likely in much better position than someone coming into bitcoin much later...and going through the whole figuring it out process.