Quote from: Makus on May 01, 2024, 04:40:13 PM

Quote from: JayJuanGee on April 29, 2024, 03:43:19 PM

Quote from: Crypt0Gore on April 29, 2024, 11:41:16 AM

Are you too concern about failing? Are you afraid of making mistakes? Because you sound confused, you don't know which way to go about it, the thing is you have no past experience with Bitcoin investment, I understand but you need to start somewhere, so that you can also have past experience with Bitcoin.

You called your old phone useless, how will that turn into a good amount of money? I bet it won't be much after you sell the phone, see if you want this to be easy on you, it's better you get a source of income first, and start dollar cost averaging on Bitcoin after your pay days.

Sacrifice some percentage from your paycheck into Bitcoin every week or every month, this way you won't have to worry about what price you are buying Bitcoin at, you are simply scooping it up at the available prices, and make sure you hold until Bitcoin makes a new all time high.

If you are confused you should do your own research on DCA, and go on from here, it is very important that you have a source of income, this is the only way that Bitcoin investment will be easy for you, panic and unnecessary actions will be far away from you.

I agree with everything that you are suggesting Crypt0Gore, except, with bitcoin, I have my doubts about any kind of need to consider a specific exit price - even though surely it is good to know that you have abilities to buy and abilities to sell, but you would not necessarily plan on selling until maybe 4-10 years or longer down the road... and even at any point of starting to choose to sell some BTC, it would seem rash to be planning on selling large amounts of BTC rather than mostly erroring on the side of holding and/or selling small amounts... .. but surely, these are differences between an investment and a trader mindset and also difference in terms of how a person might consider BTC as perhaps being one of the best investments known to man... .. and yeah, it is not guaranteed to stay in such category... .. there are surely attacks against it.. especially in the self-custodial direction, which is what actually gives bitcoin its power and/or value.

crypt0Gore I appreciate your concern, but if you check closely, this thread was created on the 8th of September and I had very little knowledge about bitcoin then, but all thanks to Mr. JJG and the "buy the dip and hold" thread that expanded my knowledge on bitcoin accumulation strategies. at first I use the money from my sold phone to buy some sats and I was a bit confused because I only knew about the lump sum strategy, but after my exposure to Mr. JJG teaching I begin to employ the DCA strategy and that helped me till today, though I deviated a bit and use the combination of more than just one strategy which kept me in a more comfortable state. today, I am proud of my bitcoin accumulation and holding and plan to keep it for long term close to a decade.

I am glad that some members have gotten some value out of some of the discussions of both long term investing, but the value that likely comes from ongoingly continuing to make investing into BTC, whether it is DCA or if there also might be some supplementation with buying on dips and/or lump sum investing, depending on cashflow situations and abilities to figure out discretionary income levels in such a way that a person might be making sure to hold cash and to invest at the same time, meaning to manage his reserves, emergency fund and float... and so there can be strategies that are somewhat aggressive, but if a guy is still learning and figuring it out, there may be a lot more value in keeping the investment amount way less aggressive in order to keep some cushion and even to have some extra cash around that is going to create feelings of wealth, even while ongoingly investing into something like bitcoin.

Another thing is that I keep saying that guys that got into bitcoin in the last year and a half are really somewhat spoiled since the BTC price has mostly just gone up in the last 18 months.. .. yet even though they are spoiled, there still can be a lot of dilemmas, especially for newbies who sometimes will feel that they need to cash out some profits, so I am not even suggesting that they might not be faced with some difficult decisions in regards to whether they are really committed to investing and building their BTC holdings over the longer term.. which may well be more than 10 years, or if they consider that there might be some value in selling on the way up and then potentially never really being able to get to higher levels of BTC accumulation since if they sell at various points, they may well not be able to buy lower and/or to really be assured that their BTC stash size is actually growing over time - even if their average cost per BTC might also be growing if they continue to buy and the BTC prices continue to go up - in spite of our being in the midst of a fairly decent size BTC correction right now.. .. which would be right around a 23.5% correction from our March 13 top of $73,794 down to our bottom from less than 24 hours ago of $56,500.