Quote from: wallet4bitcoin on December 10, 2023, 09:06:11 AM

Quote from: Su-asa on December 07, 2023, 06:07:08 PM

[edited out]

I congratulate you on the purchase of your first Bitcoin! This is obviously the begining of your investment in the digital space, as you grow, you will notice more avenues to invest and it will also expose you to most of the events in the space.

Try to make it a constant thing to invest in digital assets, its never a waste and it exposes you to a whole lot of possibilities.

You seem to be referring to some kind of need or wiseness to invest into shticoins... @wallet4bitcoin, and surely that is not true. It is probably dumb to be wasting time to be buying any shitcoins at all, and if you have some kind of a gambling tendency, then maybe limit your investing into shitcoins to no more than 10% the size of your bitcoin holdings.. and that might even be too much.

Quote from: Odohu on December 15, 2023, 07:45:46 AM

Quote from: Su-asa on December 15, 2023, 07:35:59 AM

@Makus
@Darker45
@tabas
@LogitechMouse
@The Cryptovator
@odohu
It wasn't an easy task to invest in Bitcoin as it was my first time to deal with anything that had to do with cryptocurrencies. I have been hearing about Bitcoin and other cryptocurrencies, but back then I didn't put much interest in them. I wish I had invested then when I heard about Bitcoin on the very first day.

However, I believe this is just a start. That is why I have invested over 1.7 million naira in Bitcoin. With time, I will add more money to my investment and I have promised myself to hold my coins for a long term without selling a piece of them.

The advice of everyone on this forum has helped me as I have been benefiting a little. I haven't benefitted anything from Bitcoin yet, but I have gained some knowledge about cryptocurrency and how I can get as much as I want, only if I hold on for the long term. Thanks to everyone for your advice.

I'm happy for you on this bold step and I say congratulations. You have put to practice òur discussion in various threads regarding Bitcoin accumulation especially now that price is still very low.

I will like to know if you are adopting the DCA method that @JayJuanGee did excellent job at explaining or this is just a one off buy pending when you also have more funds. Personally, I have been using the former and the results have been incredible.

To me, it sounds like OP decided to perform some kind of a lump sum and then to consider continuing to invest more into bitcoin in the future as his cashflow situation might permit.

Personally, I have nothing against lump sum investing into bitcoin from the start, yet the better practice would be to perhaps lump sum ONLY around 1/2 of the money that is immediately available, and save the other half for buying on dips, so in this case if there was around $1,400 spent on the first BTC purchase, then perhaps there would be another $1,400 for buying at various points on the way down if the BTC price were to go down, such as buy an additional $300 every time the price goes down $1,500 starting at $40,500 (or something like that). It appears that OP made this particular purchase at around the highest price that the BTC has been in the last 20 months or so, but that still does not mean that the BTC price will correct or that the BTC price won't continue to go up from here.

Another thing that I would consider is setting up another ability to supplement the already purchase by setting up a DCA at around $50 per week for however long that it takes to reach whatever level of investment that is being targeted (whether that takes 4-10 years or longer or some other timeline that OP might have in mind), and maybe figuring out if there might be ways to increase the DCA amount by increasing income and/or decreasing expenses. And, I am referring to $50 per week based on the amount that was already invested, since after 6 months, the DCA amount $50 per week would add up to nearly equal to the amount already invested in the $1,400 lump sum.

In regards to the moving of the funds to a private wallet, I would not necessarily move $50 per week, but I would probably let it get up to around $500 to $1k before I would transfer it to a private wallet, since our latest in fees shows that it is better to attempt to practice better UTXO hygiene, and I think that it is better to keep UTXOs to $500 to $1k or more rather than having a bunch of small UTXOs.

As far as a private hardwarewallet.. sure there are ways to make electrum secure, but I am still nervous about those kinds of computer based wallets, and I am thinking that if you are able to get your hands on a decent hardware wallet (not talking about Ledger), then once your BTC are valued over $1k (which yours already are) then it seems to be necessary to start considering getting a hardware wallet.. and the more your value goes up, probably the more it is justified to consider some kind of hardware wallet. This site is pretty decent in rating the hardware wallets, and this Athena site has a broader list of hardware wallet features and shows their methodology for rating wallets. Bitcoinhole has a lot of wallet details too.

No one can tell anyone else how to invest, but we can tell each other what we believe to be good and/or better practices, and we can agree to disagree regarding if any kinds of supplemental practices are necessary in terms of ways to accumulate BTC, whether referring to a brand new bitcoiner or someone who has been into bitcoin for a while, and the case of the brand new bitcoiner is a bit more clear of a case, because he is starting from zero, but still we do not know his various particulars such as his timeline or his risk tolerance or his cashflow and expenses or if he might have some other investments, besides bitcoin.

Quote from: Mr.suevie on December 15, 2023, 09:16:55 AM

That's some huge amount you started with and a really bold step, congratulations on your purchase and although the market have started looking bullish, it's still not a bad time to buy because there is hope that the price will pump up even further and if you continue the purchase and hold it till the next ATH then i think everyone would agree that your profit would be tangible enough for you to at least sell off a portion of the investment.

How are you going to know it is a ATH? You mean selling at $69k? That would be dumb.

Can you imagine working up to have a long term investment in bitcoin and then you sell the next time that bitcoin reaches an ATH, and then you are left with nothing but an extra 2x in fiat...

Consider the people who sold their whole BTC stash at various previous ATHs of $1,163 in early 2017 or at $20k in late 2020?.. sure this particular time, in 2022, the BTC price did correct back below $20k again, but that seemed to have had been a bit of a fluke, and still had to wait a couple of years, and seems like selling way too early to have sold in late 2020 merely because BTC price got up to $20k again... but yeah, guys can do what they like, even dumb things of selling too much BTC too early and then not having any certain places in which to buy back their BTC at a lower price, if that were to be the goals of someone who might have had already decided to engage in long term accumulation of BTC...then why sell in order to accumulate BTC, unless you are a gambler and you enjoy purposefully putting yourself through the stress of no longer being in BTC accumulation mode.

Quote from: nakamura12 on December 15, 2023, 09:53:12 PM

Quote from: fillippone on December 15, 2023, 09:47:17 PM

Quote from: Su-asa on December 07, 2023, 06:07:08 PM

With the names above, I was so encouraged to buy Bitcoin and hold it for a long term.

With the help of the above names and those that I didn't mention, I was encouraged to start the investment as soon as possible.

“The best moment to buy Bitcoin was yesterday.
The second best moment to buy Bitcoin is now.”

This is already enough to answer or explain why buying Bitcoin or be interested in Bitcoin is not late or in short, there's no time as being late. I definitely agree with this even though I said it myself and many people are also saying it to others. I think this may be included or considered as the third best moment to buy Bitcoin is tomorrow or it could be in the future. Well, It's because some people doesn't have money for now and are waiting for their money like salary or other means of earning money.

The point still remains to buy as much bitcoin as you can as soon as you can, and the mere fact that you start to buy bitcoin does not mean that you are going to have enough, and having enough is a work in progress that you are ONLY going to reach if you start to buy and you are fairly persistent, consistent, regular and aggressive about it.. as aggressive as you are able to be given your personal circumstances, and if you do not earn any money and you are a student, then you might really struggle to buy bitcoin, and you might be disadvantaged by your delaying in the buying of bitcoin, even though I do agree with idea of investing in yourself and learning how to learn and the kinds of things that can be learned in schools (or universities), even though there may also be ways to do both.. be a student and also to figure out ways to buy and/or earn bitcoin...and so yeah some of those are personal choices that might relate to where anyone happens to be at in the current stage of their life.

Quote from: Assface16678 on December 15, 2023, 11:13:26 PM

Quote from: nakamura12 on December 15, 2023, 09:53:12 PM

Quote from: fillippone on December 15, 2023, 09:47:17 PM

Quote from: Su-asa on December 07, 2023, 06:07:08 PM

With the names above, I was so encouraged to buy Bitcoin and hold it for a long term.

With the help of the above names and those that I didn't mention, I was encouraged to start the investment as soon as possible.

“The best moment to buy Bitcoin was yesterday.
The second best moment to buy Bitcoin is now.”

This is already enough to answer or explain why buying Bitcoin or be interested in Bitcoin is not late or in short, there's no time as being late. I definitely agree with this even though I said it myself and many people are also saying it to others. I think this may be included or considered as the third best moment to buy Bitcoin is tomorrow or it could be in the future. Well, It's because some people doesn't have money for now and are waiting for their money like salary or other means of earning money.

Exactly, many newbies in investing in bitcoin or wanting to invest in bitcoin become too wary about whether they are too late or if it is too late for them to invest as the price of bitcoin is high. Their mindset is like they want to buy 1 BTC right away, which is not a good idea. If you can't buy 1 bitcoin, then buy a fraction of bitcoin, or what we call "satoshi." There are a lot of ways to earn bitcoin through the use of its fraction. Newbies don't have to buy 1 BTC right away; you can buy based on your capabilities. So it's never too late to invest in bitcoin. Do trading in that way, and you can grow your bitcoin if you have the necessary knowledge, skills, and experience in trading. And remember, bitcoin is a long-term investment, so newbies in bitcoin should be ready for a long wait.

You said a lot of smart things about bitcoin @Assface16678, until you mentioned trading.

Trading is not necessary to learn or to practice when it comes to investing time, money and energies into bitcoin. Fuck trading. It is not necessary, even if some folks might choose to engage in such trading/gambling practices, which might work against their abilities to actually accumulate bitcoin in a meaningful, consistent, persistent and aggressive way (be as aggressive as you are able to be without recking yourself).

Quote from: AHOYBRAUSE on December 16, 2023, 02:47:49 PM

Better late than never.
0.033 is already a nice amount these days, not everybody has 1400$ in crypto.

You can see that as a start only and hopefully some day you can call yourself the proud own of 100% of a bitcoin.

The road seems to be long but we have time.

What's the long term target? You have anything in mind?

It is not necessary to own a whole bitcoin.

Each person should invest in accordance with his abilities, and sure attempt to get as many bitcoin as you are able to get, up to a point... so OP has gotten to 3.3 million satoshis, and the next goal might be to get to 10 million satoshis, and then the next goal to get to 21 million satoshis, and then maybe to half of a bitcoin, etc etc etc.. and some people might not be able to reach a whole bitcoin, even if they started investing at $100 per week, they would invest $5,200 after a year and $52k after 10 years, and that still might not add up to a whole bitcoin. Point is to do what you can, and sure be aggressive if you are able to be, and you likely need to aspire in stages and goals that are realistic and reachable.