Quote from: adultcrypto on January 20, 2024, 10:32:53 PM

Quote from: JayJuanGee on January 20, 2024, 09:38:17 PM

Frequently the reason why I (and maybe some other members will do it to) will show a longer term DCA approach, so if a guy comes in here bragging about how great trading is or some other waiting around strategy is blah blah blah... then we can ask him to compare his own performance to a strict DCA approach, especially if he has been in bitcoin for 6 or more years... the longer that he has been in, the less likely that he is going to be able to say that he has beaten a relatively strict and/or aggressive DCA approach... sure it is possible, but it can take a lot of time to employ various other strategies, including the waiting around strategy.. when it frequently is better to just get the fuck started, buy regularly and then maybe reassess your income versus expenses and maybe the amount of your holdings and your various funds (emergency and reserve funds) from time to time to figure out if you might need to do some tweaking, such as figuring out ways to make more money or to cut some expenses, and maybe figuring out ways to secure your coins, too.

I have been opportune to see few of those we can say they succeeded in trading and there are few things I observed about them that really got me worried. Although they made so much money and can actually show some great cash volumes that passed through their account, a lot of them are not conservative, they use this money lavishly and sometimes in a reckless manner. Beside that, they are so noisy and boastful. I don't know if this habit is common for all others, I'm just talking about the few that I know.

Well it is not as flashy to roll your profits back into BTC, which would be what HODL does, and surely there could be some truth to the flamboyance, but many times those kinds of gambling practices come back to bite folks. I doubt that this is the place to either get lured into talking about those kind of topics or suggesting that there might be any kinds of consistent ways to profit from trading and/or gambling rather than having more solid practices in which you are rolling your profits rather than spending them all and then not having anything to show for it later down the road.

Quote from: adultcrypto on January 20, 2024, 10:32:53 PM

What I do know is that although those trading may see big wins and may appear rich sometimes, those investing and holding for long becomes richer on the long run, save for the future, enjoy peace of mind and have little to no chance of becoming broke. Unlike the trader than simple mistakes can lead to serious loss.

It is not easy to get rich in a sustainable way, even though some of the BIG Ballers try to act as if there is..

Quote from: adultcrypto on January 20, 2024, 10:32:53 PM

Having examine both options, I tend to love long term investment and will not try or advice anyone to focus on trading as that is exclusively reserved for those who have the skill set and the mind to handle the ups and downs that comes with trading.

People are going to do what they want, so if they have some way to limit their temptations, then that probably would be better, but hey there are a lot of people who think that they are smarter than everyone else and they engage in gambling behaviors that might not be as glamorous as they are making them out to be. Even if you are a prudent investor, you still can splurge from time to time, so it is not necessary that you need to be boring. Maybe sometimes you will be the ONLY one able to splurge if some of the hotshots might end up blowing their wadds, and then might also need to fall back on your help at later dates.

Quote from: Troytech on January 20, 2024, 10:55:39 PM

Quote from: JayJuanGee on January 20, 2024, 09:38:17 PM

Frequently the reason why I (and maybe some other members will do it to) will show a longer term DCA approach, so if a guy comes in here bragging about how great trading is or some other waiting around strategy is blah blah blah... then we can ask him to compare his own performance to a strict DCA approach, especially if he has been in bitcoin for 6 or more years... the longer that he has been in, the less likely that he is going to be able to say that he has beaten a relatively strict and/or aggressive DCA approach... sure it is possible, but it can take a lot of time to employ various other strategies, including the waiting around strategy.. when it frequently is better to just get the fuck started, buy regularly and then maybe reassess your income versus expenses and maybe the amount of your holdings and your various funds (emergency and reserve funds) from time to time to figure out if you might need to do some tweaking, such as figuring out ways to make more money or to cut some expenses, and maybe figuring out ways to secure your coins, too.

Very interesting, with DCA I actually have an edge over traders, since traders are actually buying and selling bitcoin in short term to make profit, as a long term investor I would have a chance to build a more substantial bitcoin holdings over the long run than to be making profits and having no bitcoin at last, from every angle ive looked at it, long term holders are at much better advantage than traders. No matter how profitable trading is, DCA method beats it. Cause at every interval I'm investing in bitcoin, I'm already a step ahead in building a more substantial value than there are. I'm looking more at the compounding effects my bitcoin holdings would give me and the profits are much larger depending on how long I plan on holding my bitcoin.

Past results do not guarantee future performance, and frequently we will beat up on the traders because they end up not being able to out perform or even come close to performing similar to DCA strategies that tend to take way less work and cause way less stress, but the fact that DCA has historically been a great approach does not guarantee that we will continue to win in that area.

I recall that when I used to project my BTC accumulation amounts, I would project out various scenarios that anticipated worse case, medium case and best case BTC price performance scenarios, so that I could already see the approximate amount of cash that I would be putting in and how many BTC that I would have under the various scenarios... and after certain passages of time, so some of the worse case scenarios might have negative returns and then there would also be 0% returns, and then there would be variations of positive returns such as 3%, 6%, 12% or 20%, so the I could see how much I would be anticipated to put in up until the date of projection, how many BTC I would get under various scenarios, what the price of the BTC would be and what the value of my stash would be, and surely in the longer run my performance ended up gravitating towards beating the most bullish of the expectations that I had outlined, even though in the short term my BTC price performance was leaning towards the worse of the expectation, which the worse performance resulted in more BTC being accumulated, so the accumulation of more BTC ended up causing the amount of BTC that I thought that I would have had accumulate go up, so we know what that ends up meaning (a couple years later) for when the BTC price finally did start to go up... so in the beginning there could end up being some advantages of the asset (BTC in this case) underperforming expectations.

Quote from: I_Anime on January 20, 2024, 11:06:41 PM

Quote from: Salahmu on January 20, 2024, 10:44:51 PM

[edited out]

what do you think would be the best duration in holding?🙂

You have to figure out your own hold time, and I frequently recommend that anyone getting into bitcoin plan to hold any BTC that he buys 4-10 years or more from the time of purchase, so if you continue to DCA into BTC for 4 years, you will start to have some bitcoin that you bought earlier that would have had already met your 4 year minimum timeline, and any new bitcoin that you buy, even after 4 years investing would have a 4-10 year timeline for them to be justified in buying.. in terms of being considered as long term investments.

Of course you have flexibility and discretion and hopefully if you spend time accumulating bitcoin, then you also spend time learning along the way so that you are prepared when various next steps come in which you might transition from BTC accumulation and into some other potential stage of your BTC journey, whether that be maintenance or liquidation or some other way of thinking about your holdings.