Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Quote of the day 
"...along with coffee from Mcie Dees. but I don't know about McD's coffee.. I am sure some folks would brag about it, until it burns them in the muffin."
hahahahaha
I was not sure if anyone was going to actually catch that one.
Good eye.
Hi,
I'm from Dubai and I can see that bitcoin is now rising again. Is it a good time to invest now? I'm new to the cryptocoins
Thanks in advance
Be like JJG and set a DCA plan into effect.I'm from Dubai and I can see that bitcoin is now rising again. Is it a good time to invest now? I'm new to the cryptocoins
Thanks in advance
Pick a dollar amount say 200 a week and buy 200 a week for 200 weeks in a row.
Be sure you can afford to do that.
Also set aside a lump sum to buy the dip.
ie we are at 17.3k
set aside 15000 for buys at 16k, 14.5k and 12.1k
So the plan above is a plan to invest 40,000 over 200 weeks and as much as 45,000 more in that same time frame.
Obviously do not spent the above amounts if they are unaffordable and that is a real key spend only what you can lose and no more.
I like your idea.. but there still is something wrong with your numbers not adding up.
$40k plus $15k = $55k, not $45k.
There is also the concept of a newbie frontloading and buying a bit right away... but yeah all of that $15k might not be available right away, even though there could be a cashflow that could end up providing $40k over 4 years.. perhaps?
If someone is surely in a position to have $15k right away, then I would likely buy somewhere between $5k and $7.5k right away.. and then spread out the remainder on buying on dips and DCA... There might be some issues if the buying on dips is diluted a bit so it could be supplemented by incoming cashflows.. and there could be a bit of dividing up of new money that comes in for both DCA and buying on dips... and usually we should be able to project that our income should be able to go up each year, so if you are trajectoring out $200 per week for four years, then you are actually tapering off the amount of free cashflow that is going into BTC, which is not necessarily wrong, but it should be a conscious choice if that is what you are actually wanting to do or if that is how you are actually wanting to structure your (not you specifically, but you know you generally?) future BTC purchases.
I don't really have any problems with tapering off DCA amount through the years.. whether it is nominal amounts or just in terms of percentage of your free cashflow because there should be some comfort in terms of having had front-loaded a wee bit in the earlier years.. however at the same time, if someone (a bitcoin newbie normie) has a possible retirement trajectory (or fuck you status timeline) that they anticipate to spread out over 30 to 40 years, but they are hoping that they might be able to cut in half through possible persistency and luck, then they should anticipate some level of increase in their investment level with the passage of time with an expectation that their cashflows should go up.. as long as they are not getting too compelled towards ostentatious consumption.