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.

Experience starts only after taking actions, I am glad you get this far but one thing is missing here, where are you keeping your Bitcoin? I hope you know the difference of a open source Bitcoin wallet and a closed source Bitcoin wallet.

I bring this up because someone close to me lost all his DCA since 2023 to a stupid Bitcoin wallet he downloaded on the app store, google store to be precise, I don't want the same to happen to you too, the best Bitcoin wallet for mobile users is Electrum.

Make sure you keep your recovery seed in a private location, you don't want to DCA for long only to give it all away to a scam or something similar.

While your Bitcoin grows I will like to advice you to get a air gap device to store your Bitcoin comfortably for the long term, It is not a good idea to have thousand dollar worth in Bitcoin and not consider a $180 hardware wallet, good luck.