Quote from: DoverDoane on Today at 09:15:52 AM

Quote from: JayJuanGee on Today at 12:09:33 AM

Quote from: Agbamoni on August 29, 2023, 10:58:04 PM

DCAing is my best options, Always better buying in these times than in ATH territory tho. I bought the dip last night and going to buy some more tonight. I know it ain't that much but I can't miss these bargain basement prices. At times every time I buy it dips a lot more. What I am just learning is to just buy much smaller amounts that way I am not losing as much as I was before, am not really bothered tho because am holding for long

For sure it is not easy to strike a comfortable balance in between holding some cash for just in case the BTC price drops more and making sure that you buy a sufficient amount in order to be content with the price going up rather than down. If the price goes up and then you start to panic and to buy some more, you likely did something wrong, but those kinds of things can end up happening to anyone, even those who might be buying regularly and buying on dips, and then if the price bounces 10% or even 40%, then they end up feeling a kind of dread/panic about not having had bought as much as they should have bought when the BTC prices were lower.

Sorry if it disturbs your discussion, lately I often hear how almost every time I meet my friends talk about investing in Bitcoin in the DCA way, I am curious and finally know the general description of DCA, which is to allocate a certain amount of money to invest regularly as you said. Does DCA here have to be supported by stable finances? for example, having a steady income from work which can later be used to invest more regularly.
I say that because my friend's discussion with his financial condition was clearly inappropriate. I mean, their income is unstable but investing the DCA way.
What do you think the ideal DCA looks like? I really need advice because I have been studying Bitcoin for a long time, my income is quite stable for now. It would be very profitable if this financial allocation was invested in Bitcoin. As long as I know the risks, I believe Bitcoin will be useful in the future and institutional adoption is also currently increasing. As someone who is interested in investment strategies, you definitely need the right method.

It seems to me that you are asking questions that have been answered various times in this thread, so it might be helpful to read through several of the posts in the past month or two, and if you need to refocus your question based on what you read, then come back with some more specific questions.

I am pretty sure that I had several times attempted to address the essence of the stable versus unstable finances in terms of DCA should be based on discretionary (meaning extra) money that you have available after you account for your various expenses, including your emergency expenses.

A person who has more unstable income and or expenses then has more difficulties DCA'ing , but they are still able to DCA so long as they make sure that they create a sufficient of enough reserve or cushion. I gave some specific examples in some recent posts that I made in this thread regarding and so it likely would be good to read back through them, but if there is a range of expenses that you have which might be between $800 to $1k per month, but your income varies between $400 and $2.5k per month with many of the months being around $1,200-$1,400, you likely need to keep at least enough reserves to cover the difference between the bare minimum that might come in and whatever are going to be your expenses, and sure some expenses can be deferred, too.

Maybe a person in this here example that I just gave should try to keep at least $3,600 in his/her reserves prior to investing. Since the difference between the minimum amount that s/he might make and the top of the expenses is $1k, so $3,600 would be enough to cover $6months worth of low income and high expenses. If such person has not sufficiently created an adequate enough cashflow reserve, then DCA investing would be risky.. and maybe if s/he aspires to get to $100 per week investing into bitcoin, but if the reserves are not high enough and they are being buit, maybe such person ONLY invests $10 per week while the reserve is being built to a sufficiently high enough level that would be practical, and maybe the person believes that $1,800 rather than $3,600 is enough of a reserve, and that they are not gambling, and so that is their choice regarding how many chances they believe that they are able to get away with taking while still attempting to be somewhat prudent with their finance and trying to invest into BTC at the same time.

Quote from: Samlucky O on Today at 10:06:24 AM

Quote from: JayJuanGee on Today at 12:09:33 AM

[edited out]

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Life of a crypto man has always been of regrets

Fuck Crypto.. We are not talking about crypto in this thread.

If you were trying talk about something related to bitcoin, then why didn't you use the word bitcoin? what does crypto have to do with this? unless you may well be confused about how to use language properly in a way that is sufficiently clear and not ambiguous? Just because you heard smart people use that dumb word does not mean that you should use it without specifying what you are talking about, exactly.