Quote from: MusaPk on Today at 07:49:40 AM

Quote from: Salahmu on October 21, 2023, 11:02:53 PM

Honestly this thread has really been of a great help to us especially on my Bitcoin investment journey, however just like they said information is power before I came here I had no good strategy on accumulating Bitcoin and I had no knowledge about DCA and the only strategy that comes to my mind then is Lump sum and it affected my Bitcoin accumulation because I used all I had that time to buy Bitcoin and later on I ran out of funds and it affected me seriously then.

But coming here became a game changer for me and I was able to learn different strategies I never new existed, so this thread is like a school of thought were we can learn different accumulatimg strategy from each other but however all thanks to @Jay who has been really of a great help to everyone here through his wonderful ideas that will guide us on our Bitcoin journey.

There is no doubt that this thread is helping many of us about how to gather Bitcoin. At least now we are fully aware of the consequences of buying Lump sum. The best way is to gather slowly and that can be done using DCA technique.

We are once again at 30k barrier and to my knowledge this is not the first time in this year Bitcoin make it to 30k. The question is those who have bought Bitcoin at DIP, what there strategy should be now (as Bitcoin is slightly bullish)?

I would think that if forum members are buying BTC for the long run, they likely are not going to be creating too many changes in their plan merely based on BTC price moves that are only within about 10% of (or less than) the 200-week moving average - which 200 WMA is just around $28,200. Sure they may also consider their own costs per BTC, and even consider if they want to make plans regarding how much in profits would their bitcoin need to become in order for them to consider starting to shave off some of their BTC or have they even gotten to that kind of higher stage of shaving off some profits when so many newbie members are likely still in their earlier BTC accumulation stages - which might could well mean that they don't really change anything unless they get to more advanced stages that might involve lessening how much BTC they accumulate when the BTC prices are going up. There should not be any kind of an universal answer... but surely it can take people 1-2 or even more BTC cycles to really get to a place where they believe that they have enough BTC or even more than enough BTC that they can start to shave off some profits or to otherwise change their BTC accumulation strategies in meaningful ways that transitions into more of a maintenance stage.

Quote from: virasog on Today at 07:53:05 AM

Quote from: DaNNy001 on Today at 06:12:00 AM

Yeah, that's true and it's actually one of the few things that is inevitable, whether we like it or not , a certain number of Bitcoin owners are actually going to end up leaving this world with their key remaining unknown to anyone, even their love one, but I feel this is supposed to be a matter of who's going fall under this category, well I know for sure after all this exposure to this much knowledge, I will definitely find a way to let my love ones or even my spouse know about the my holdings or if that's too wild, I think setting up a means of which they can actually get hold of my key and Bitcoin when mr.death eventually comes knocking.

Do you know what most people who are holding bitcoin are doing or will most probably do? All of them know that they will transfer their private keys to their loved ones when they are near to death but no one will let the keys be transferred ahead of time. Since the death time of everyone is unknown, there may be many who die because of an accident or on the spot death and they would not even get the time to give the private keys to their remaining.

That is part of the risk of giving too much information too early or even making sure that the information that is given after death is sufficiently clear that the loved ones would be able to access their coins.. but then maybe having enough trust in the loved ones not attempting to access the information prior to the authorization (which would be upon death or some other circumstances in which the bitcoin HODLer had communicated to be applicable).

Quote from: virasog on Today at 07:53:05 AM

Since bitcoin is very new and only the first generation is using it, so we do not come across such cases but after more than 10 to 20 years, a lot of bitcoins will be lost as the current holders of bitcoin wouldn't be alive and they have not transferred the wealth to their near and dear ones.

Sure the longer that bitcoin is around, the more and more longer term bitcoiners are going to be dying off, and they are already dying off in the 15 years that bitcoin has been in existence.. so the greater the adoption and the longer that bitcoin is around the more and more examples are going to exist in regards to bitcoiners are dying off with their bitcoin and sometimes family members are not going to end up knowing that they had bitcoin that ended up not getting passed on to anyone (except to all bitcoin hodlers in a form of a reverse tax.. which is the increasing of BTC's scarcity).