Quote from: Makus on December 28, 2023, 04:24:41 AM

Quote from: JayJuanGee on December 28, 2023, 02:30:50 AM

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After securing our emergency fund that could last for about 3 months, using lump sum would be a great idea. Because how far you go in your accumulation is determined by the opportunities you took advantage of when the price was still low.

I personally believe that it is best to get started investing into BTC ASAP, even if you might not have had sufficiently secured your 3-6 months of emergency funds. Surely you can engage in multiple kinds of behaviors at the same time to get your financial and psychological house in order, and if you have really straight forward finances, and maybe even other investments that you could draw from, you might be able to get away with an emergency fund that is ONLY 3 months, but if you have a lot of complications in your cashflow and/or your expenses, you may well need 6 months of expenses saved up, and the more aggressive that you want to be in terms of your bitcoin investment, the more likely you will need a larger (or longer period) worth of emergency funds.

Quote from: rachael9385 on December 28, 2023, 07:09:26 AM

Quote from: JayJuanGee on December 28, 2023, 02:30:50 AM

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However, achieving a whole Bitcoin can be so easy if an investor always keeps emergency funds separate from Bitcoin investment and still, also has a steady cash flow, and with time if he still increases the DCAing amount.

Although the OP did well as he purchased the amount he bought (above $1k), it would be better if he constantly bought weekly with the help of the DCAing strategy, as he already said he has a steady cash flow.

The fact of the matter (based on posts in this thread and in his other thread) is that OP has disclosed that he likely blew his whole wadd on making a lump sum investment that he might not have had been in a position to afford.. or at least it is quite a deviation from his initial ideas, and he had not really saved for doing aggressive DCA and/or buying on dips, so he had largely been overly (perhaps gambling) on up, and he barely has enough to do $10 per week (which he said his plan is to do $50 per month, and yeah maybe he is holding some of that back for buying on dips? perhaps? perhaps?), so it seems to me that he is not in any kind of a position to buy $100 per week of bitcoin unless he robs a bank or something like that (which I am not recommending), so it is really difficult to know if OP will ever reach 1 bitcoin - even in 10 years - unless he is able to either increase his cashflow and/or to decrease his expenses... or if there also might be some other matters about OPs wealth that he did not mention.

Of course present cashflow and circumstances do not necessarily foretell future possibilities and/or limits in regards to cashflow and other wealth related circumstances, so it is possible that OP could improve (or increase) his cashflow circumstances and therefore increase the amount of BTC that he can buy whether he does more lump sum purchases, buying on dips, and/or DCA to attempt to accomplish such an aim for one bitcoin, if he is even thinking about the necessity to reach such randomly (arbitrary) and potentially unnecessary and/or inapplicable an amount.

Quote from: bitterguy28 on December 28, 2023, 08:04:50 AM

There are only few people that i believe when talking about bitcoin and as it is for Holding , one of them is JJG because His wisdom and thoughts keeps me becoming a more better in terms of believing and holding bitcoin.

But even JJG can be wrong.. so don't come crying to me when (or is it if?) you lose all your money.

Quote from: bitterguy28 on December 28, 2023, 08:04:50 AM

In the past i kept having even shitcoin in my Folio but now things has changed and like yours , I'll keep filling my folio with bitcoin though i still have few altcoins but those are reserved for at least payment options specially when the network is congested and i need to release some funds for payments or at least to gamble sometimes but my bitcoin remain intact and ready for HODL.

Yep the default is mostly to say no to shitcoins, and if for some reason you cannot help yourself to gamble and/or experiment then maybe go up to 10% of your holdings in shitcoins, absent some kind of inside knowledge and/or superior information, which is mostly never going to be true unless you happen to be a scammer or teamed up with some scammer who is not scamming you, too.

Quote from: bitterguy28 on December 28, 2023, 08:04:50 AM

Please Keep your funds OP as long as you can so you will never regret any decisions from here and in the future like what other does selling their funds and not readying for emergencies of life.

Congratulations once again and keep it there.

4-10 years or longer. is a good starting point in the way of considering bitcoin investing, especially for any kind of lump sum investment.... and there may be folks who have shorter than 4 year timelines because of age, health and/or even some personal circumstances.. and those folks should be investing less into bitcoin rather than more... that is if they are wanting to attempt to play some kind of a wave, then they should be playing with less money if they are wanting to try to do that with bitcoin with money that they might need in less than 4 years.. and one of the ideas of the advise of not investing into bitcoin money that you cannot afford to lose is that you already have your shit together in such a way that you may well not even need the money in 4-10 years or longer and you are willing to ride your investment into bitcoin down to zero if that kind of scenario ends up coming to pass... so be as aggressive as you can be, while at the same time realizing and recognizing that there are no guarantees that you won't end up losing all the money that you put in.

Quote from: EarnOnVictor on December 28, 2023, 08:37:41 AM

Many are anticipating a very big move but I believe that cryptocurrencies are getting much more these days, and the money might be spread on all of them and not Bitcoin only.

Diversification for the mere sake of diversification is usually not a good idea, so hopefully guys are not so dumb to fuck around with shitcoins until they established their bitcoin strategy first, and then maybe if they are the gambling types then maybe they could dabble up to 10% in various shitcoins... but it might not even be wise or necessary... but hey people can choose what they like, even when they have amongst the best of investments in front of them (namely bitcoin) and if they want to either dilute that investment or to play around with shitcoins, then that's their choice... hopefully if they do end up playing around with shitcoins they realize it is an in and out strategy in order to get more bitcoin, so then why even go through a process of figuring out which shitcoins are worth your time, energies and monetary value to put into those kinds of snake-oil pump & dump type products.

Quote from: EarnOnVictor on December 28, 2023, 08:37:41 AM

This might limit the level at which Bitcoin would reach even as people are getting smarter to make more money and not believing in HODLing Bitcoin alone. However, if the OP follows your advice, it is never too late, he can liquidate it and try the DCA approach. After all, Bitcoin is still close to his striking price, but I don't think Bitcoin can significantly go lower again to make it make much difference.

It is not easy to get in and out of something once a lump sum investment is made, but I do agree that if someone recognizes that they had made a mistake, they might have to adjust their strategy in order to allow them funds for what they should have had done, which is being able to DCA and buy the dip with similar amounts... and there are no exactly strict rules regarding how much should be allocated to each category in regards to DCA, buying oin dips and lump sum.

So let's say that OP had $1,500 in cash and then he ONLY has around $50 to $100 per month that he could use to buy BTC (so let's call it $75 - so that would be right around $450 over 6 months.), and so even if we might say that his total budget over 6 months is right around $2,100, then for me that would be $700 in each category, but that does not even mean that what I am thinking is the best way to do it, but that would be my initial inclination and thinking point based on the information that I have, and if there is other information to change what I am going to do, then I might adapt that and maybe lean a bit heavier on the lump sum being higher than $700 but then that would end up taking away from the one and/or the other of the allocations... so for sure there are trade offs, and we have to be careful if we are going all in.. but if we do end up doing something like that, we have to be willing to live with the consequences that if the BTC price moves against us, then all we have left is $75 per month to make BTC buys.. and maybe that ends up being enough for whatever trade-offs that we were weighing.

Quote from: Su-asa on December 28, 2023, 09:10:46 AM

Quote from: EarnOnVictor on December 28, 2023, 08:37:41 AM

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Honestly I understand what you are saying but there are other newbies that still understand what they are doing and what is called DCAing strategy (not all forum newbies are Bitcoin newbie) some of us here are not bitcoin newbies but me I am a bitcoin newbie.. however, I have invested in Bitcoin as a newbie but still I have learned some things about Bitcoin from this topic, and am still learning, so I just try to continue learning while I am investing so I can gain proper understanding about Bitcoin (as the more I will accumulate, that's the more I will gain more understanding about Bitcoin).
It might take a while for me to understand Bitcoin in full as Bitcoin is not a subject or something one can learn in just a day, so learning while investing might be the best idea to do.

When I first started investing in bitcoin in late 2013, one of my goals was to invest and also to study bitcoin for the next 6 months, and then I extended the same budget for the next 6 months, so then after a year, I had learned quite a bit, but I continued to study bitcoin and to tweak my strategies from time to time based on my learnings... and surely sometimes mistakes are made along the way, and frequently there are ways to recover from mistakes in fairly prudent manners, but it could still take a while to completely recover from some kinds of mistakes, yet it seems the longer that we are in bitcoin, the more likely we can put systems in place to mitigate mistakes and even to lessen their impact or the likelihood that they will happen.. but we still will likely continue to learn and to make some mistakes at various points along the way.. and one of our goals might be that when 4-10 years or longer comes along, we are still in the game and we have not been reckt in the process, and maybe even if we are fairly young, then we want to be improving our lives even 15-30 years down the road with some considerations that we are still going to continue to have BTC in our holdings, absent some convincing changes (or undermining) of its investment thesis.

Quote from: peter0425 on December 28, 2023, 11:33:22 AM

Happy Holding mate , we will always be proud of people like you that does not care about what others and social media says instead focusing on your goals of supporting and having bitcoin in your pocket.
I must say you are one of the best example of how the world will adopt bitcoin because of how you trusted this and how you are proud of having it.
Good luck to us Holding bitcoin for long.

That is a good point too, peter0425. Even if we might be learning and we might be reading various ideas about bitcoin and bitcoin investing we have to come to our own conclusions in regards to what is best for our own situation, and then to own our decisions, including to make adaptations if we believe that we need to make them, but not necessarily to make any changes merely because someone on this forum made such suggestion(s)..