Quote from: promise444c5 on Today at 12:48:10 PM

Quote from: JayJuanGee on December 23, 2023, 03:35:34 AM

From the start of my journey of investing into BTC, I had an investment thesis that involved ongoing accumulation of BTC, and sure if the price was going down then I was considering that it was good to buy the dip because I was lowering my investment cost, yet the BTC price kept dipping, and really it took a couple of years for my average cost per BTC to get back into profits and it even took more than 3 years for the first BTC that I bought to get back into profits and to stay there.

This is a true definition of patience , it might be hard sometimes but it's rewarding.

I am not trying to brag or anything like that, but I frequently make the claim that as long as you are choosing to invest an amount of money that is extra and that you are willing to ride your investment down to zero, then you should be able to ride out your investment moving against you, even if it seems to move against you for several years.. and sure if you keep buying at some points, you might start to question your conviction, especially if you keep buying, and even if you are buying a relatively small amount, the relatively small amounts still can add up.. even if it is ONLY $10 per week or some other similar kind of small amount.

Of course, you can also choose between being aggressive and whimpy in terms of the amount that you are drawing from your discretionary income, so if you have an income that is between $400 and $1,500 per month with an average of around $900, yet your expenses are around $750 per month, then you can figure out ways to have an emergency fund that covers the gap and you can choose to be somewhat whimpy in your investment with maybe $10 per week, yet if you have a decent emergency fund in place that largely covers 3-6 months of your expenses (let's say that you have the whole 6 months covered, which would be $4,500 ($750*6), then you might feel that you are able to afford to be more aggressive, even $100 per week, but sure if there is that much variance in your income, you might figure out ways to adapt your DCA amount based on how much cash cushion that you have and even to have an amount that you invest into bitcoin no matter what, but another amount extra that would depend upon the size of your extra cash for that month, if any.

Quote from: promise444c5 on Today at 12:48:10 PM

BTC it's self should have been tagged patience Grin

let's flash back to the days when btc was still 0.$ probably, though it might feel easy to acquire but amongst the investor then if there were alot of small investors (I believe everyone should be a small investor then) whom had patience till this very moment then there could have been a lot of scarcity and a crazy hike in the price of BTC but who knew this was going to happen.

Even though I agree with part of your overall point that the longer that anyone had been investing into bitcoin, then the more likely that the investment would have had ended up paying off.. which yes, could be considered as a form of patience and/or a form of deferred gratification.

At the same time, I think that it is not very realistic to be trying to make modern day comparisons to the situation that was available close to the time that bitcoin was just finding it's price, and even if we start from a later date, such as early 2012, when bitcoin was at $4 per BTC, it still might not be realistic to be considering those kinds of prices as realistic entry prices for any normal and regular people because they would have had to have been in some kind of niche group, and sure they might have been merely lucky in that regard, but probably the various developments in 2012 and 2013 did bring bitcoin more and more to the attention of more regular people.

It also seems to me that with the passage of time, bitcoin's investment thesis continues to get stronger and stronger, so hopefully anyone with a 4-10 year or longer investment time horizon is able to figure out a way to build some kind of a bitcoin investment plan that seems to continue to have good chances of paying off in the future. .even though there are no guarantees in regards to the paying off of a longer term investment plan.. and surely even some folks who screwed up in the past in regards to the way that they treated their bitcoin will still be able to have good chances of making up for their past errors by getting started accumulating BTC persistently, consistently and ongoingly until they reach targets that are acceptable to them and their situation.

Quote from: promise444c5 on Today at 12:48:10 PM

Even some used it as a trade for pizza Grin

because they simply had no patience

That is not a very fair and/or accurate characterization of the Lazlo pizza situation, even though a lot of people characterize Lazlo's pizza situation in that kind of inaccurate way.

If bitcoin did not really have much if any price, then it could have had been replaced for similar amounts of money (such as 2 pizzas for 10k BTC), but yeah there have been various price spikes in bitcoin in which it no longer becomes possible to replace bitcoin for anything close to the amount that they had been acquired, so even someone who might have come to bitcoin 10 years ago like me, and then maybe accumulated bitcoin over several of the earlier years (and maybe made some mistakes along the way too), he still might have had been going into 2016 or 2017 with BTC costs of $500 per BTC, but then let's say for example, he had accumulated 300 BTC, but then he decides to spend 100 of his BTC in early 2017 at $1k each, and so he buys a house or a car or some various consumer goods that may or may not hold their value very well, and he is thinking that he doubled his income because he bought them for $50k and he sold them for $100k, and yeah maybe he might have even sold them in mid 2017 for $2k each which would have gotten him 4x, but then how is he ever going to be able to generate enough money to buy back those 100BTC, so sure he still has 200BTC, but he still might be in a worse position for having had sold them, yet at the same time does he have enough BTC? It depends on the overall situation and if he continues to make those kinds of mistakes or not.

With Lazlo he was very early to mining and he even was very innovative with the early conversion from CPU to GPU, so he had accumulated a lot of bitcoin through his mining efforts, and he surely may have felt needs to spend (and/or redistribute) decent quantities of his BTC holdings.. ..and we do not know how many times Lazlo spent 10k BTC on pizzas.. or how many BTC that he has left? Did he spend like a drunken sailor and does not have any BTC left, or maybe he had saved some of those BTC that he had mined? By the way, I did a quick calculation of how many BTC were being mined per day in 2010, and that would have been 7,500 (144 x 50), and so if Lazlo was mining a lot of bitcoin, he may well might have been able to mine 10k bitcoin in a week or less...and recall that in bitcoin's first 4 years, 10.5 million (or half of the total supply) was mined, so even if Satoshi got around 1 million of the coins, there was another 9.5 million going to other miners, and surely some of the miners ended up spending their coins in a variety of ways.