Quote from: Btcdeybodi on Today at 02:06:55 AM

Quote from: Cryptoprincess101 on July 18, 2024, 03:56:24 PM

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Okay just consider the transaction fees it will take each time you try to withdraw a small unit of Bitcoin from your exchange to a non custody wallets, so it looks unprofessional even if a newbie may not understand this but it is still important for them to know because those amount that would be lost as transaction fees can still be retained if you consider accumulating a larger amount before withdrawing out from an exchange.

I agree with all of the points of your post Btcdeybodi; however, there is something wrong with your seeming to ONLY think about the withdrawal transaction fees, and anyone who moves quantities of bitcoin from third-parties, such as exchanges (or even makes other kinds of BTC transaction choices that result in the creation of both sending UTXOs and change UTXOs), should also be attempting to consider future transactions that come from how and where various UTXOs are held. If a guy has a bunch of small UTXOs, some of them might either become unfeasible to spend, but the fees from having a bunch of small UTXOs could also end up taking a very large toll upon how much actual net worth (or value) that a guy has in bitcoin as compared to what he believes that he has... I had already mentioned an example of the difference between someone who has $3k to $5k held in just a few UTXOs as compared to another person who might have that same quantity of value held in 100s of UTXOs.

Quote from: Kliss on Today at 09:19:53 AM

Quote from: Hewlet on Today at 05:57:06 AM

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Buying and HODLing bitcoin is very stressless, compared to the stress involved in trading. In my own perspective There's no need to gamble your resources in trading when you can just buy and accumulate bitcoin at your comfort using a DCA strategy which is stress free, in accumulating Bitcoin without the pressure of timing the market. Holding Bitcoin can be helpful and stress free for folks who engage in other jobs or working class individuals, it can help avoid the stress that comes with trading such as Analysing the market frequently, making fast decisions and potential loss of money. Doing other job or working and being a trader can be a very difficult task which can result in attention divided causing lack of balance between work and trading but HODLing bitcoin is stress free especially when DCAing, all you have to do is just setting aside funds weekly or Monthly consistently to buy bitcoin on a regular basis to grow your bitcoin holdings steadily without monitoring the market. It's more safe and relaxed than trading.

I agree that buying and holding and DCA is likely to be way less stressful than trading, but it surely is not stressfree, and there are also various kinds of ways that DCA can be done by itself in aggressive ways that potentially contribute to more stress, and also DCA can be accompanied by lump sum investing, buying the dip and HODL, and even though not trading, there still can be some levels of stress contained while using DCA that may well depend upon how aggressive and creative you are.. and yeah, it still might be considered to be some variation of DCA that does not involve trading but is surely not completely free from potential stresses and/or even making mistakes by overdoing it (by potentially going beyond your disposable/discretionary income or sometimes mismanaging cashflows including but not limited to emergency funds, reserves and/or float) and not realizing the mistakes until later down the road..but still may well fit within the category of DCA and not in the category of trading.

Quote from: Justbillywitt on Today at 12:48:51 PM

Quote from: Btcdeybodi on Today at 02:06:55 AM

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It all depends on the amount of money you are using to DCA. If it's someone that's buying up to $200 and above at once I will suggest you move it to non custodian wallet immediately after each purchases. But if it's someone that's buying with smaller amount, you can accumulate it till it gets to the region of $200 maximum then you can withdraw to your wallet. Another solution to this is that when you are making your budget to buy your bitcoin, you have to make provisions for withdrawal fees, since you are aware that exchanges requires withdrawal fees.

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee. Before you can accumulate up to $200, you will have $220 worth of bitcoin and when you are withdrawing your asset, the fees won't be much of a concern to you because you have already made provision for it. You can't take because of withdrawal fee and expose your asset to possible risk. If the exchange get hacked you will regret and would have preferred paying the withdrawal fees that would have been more lesser than losing your entire assets. Little fees shouldn't make us fall victim rather let's plan ourselves to accommodate the withdrawal fees from onset.

Again, you seem to be too narrowly focused on ONLY the withdrawal fee rather than considering UTXO management on a larger and longer timeline... but hey whatever, do your multiple $50 withdrawals and see how you might be feeling after 10 years of doing that and having 100s, if not 1,000s of UTXOs and you had not realized that you did not even know what a UTXO was, and you mistakenly believed that wallet and UTXO was the same thing. By the way, learn about coin control too in order to help you to better learn about what is a UTXO and potentially how to manage them in the present and to anticipate future potential issues in regards to how small UTXOs can be problematic for onchain transactions (and yeah these problematic issues regarding small UTXO matters might get resolved, and yeah, they might not).

Quote from: Wind_FURY on Today at 01:21:22 PM

Quote from: Tmoonz on July 18, 2024, 06:19:10 AM

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In two or three decades, there will probably two different types of investors and it will be obvious merely by looking at their portfolio,

- Those who bought the DIP/DCA and who HODLs Bitcoin
- Those who have dismissed Bitcoin entirely, and it's performing relatively poorly for it

¯\_(ツ)_/¯

I get your idea and I agree with the overall idea that there are those who get it (and are focusing on BTC accumulation and holding) and those who are lacking focus or failing/refusing to have any clue about the value of accumulating bitcoin (or the disvalue when they don't).

Yet, there are likely going to be variations of those two extremes in terms of potentially when a low coiner/no coiner finally gets bitcoin and what s/he finally does about it when s/he gets it... .. so yeah, the issue is ongoing in terms of when a person starts to accumulate.. which seems to be why a lot of us regular members might disagree regarding some of the BTC accumulation strategies, yet we still tend to agree that the sooner that low coiners / no coiners get started, the better off that they are likely going to be (or perhaps the more that they will be able to mitigate damages from their time as no coiner, low coiner and/or pre-coiner).

Quote from: Tmoonz on Today at 01:22:53 PM

Quote from: cryptoWODL on July 18, 2024, 10:08:48 AM

Quote from: Lidger on July 18, 2024, 04:05:46 AM

If you are a new investor then surely this investment strategy will work for you. You just continue to invest in this strategy consistently and at some point you will realize for yourself how positive this strategy has been for you. When you look at your total investment after a long period of time, you will be amazed at how much you have invested even with small investments.

Not only new investors but also many experienced or old investors are now increasing their investments by adopting DCA regularly.

Dollar cost averaging is a progressive and balanced investment strategy. One of our goals in investing in this way is to lower the average cost and even aim for better returns over the long term. Those who have sufficient capacity may not invest in this method, but those who do not have sufficient capacity and even if they are willing to invest, if they invest using this method, it becomes easier for them to invest. Because by adopting this method you will be able to invest even in small scale. Buy Bitcoins with the same amount of money every week or month using DCA regardless of whether the price of Bitcoin goes up or down. I read in the pages of the book that small grains of sand form continents. Similarly, if you invest in the dollar cost averaging method, your small investment will eventually turn into a large one.

The DCA strategy is a powerful packaged strategy which shouldn't only be prioritized it usage or talked about in terms of those that do not have sufficient money, but it is a strategy that is being used by any kind of investor irrespective of financial capacity because of it's tremendous benefits. However, just as we have always be saying that every investor must tailor down his or her choice of strategy or strategies to suit his or her, psychology, risk assessment level, financial capacity, investment goals and objectives, yeah one can have so much money and can decide to come into Bitcoin investment with the DCA strategy because that might be what suits him or her in terms of psychology or risk assessment level which differs from one another while the money can is there. Moreso, am not completely of the opinion that the DCA amount must be a fixed or the same amount, one can increase or decrease the DCA amount based on how much of your disposable income considering the fact that expenses can varies in weeks or months, but if you have it all figured out on how your DCA amount can be fixed without affecting your other living expenses negatively it can as well be good, my point is that your DCA amount shouldn't be seen as a burden because you want to meet up your specific dca amount.

Frequently wealthy investors who are able to lump sum into a new investment, such as bitcoin, they still may figure out some form of DCA because of the practicality of not necessarily wanting to sell any of their other assets and not wanting to experience tax consequences or other burdens (including liquidity questions) that might come from selling other assets and/or currencies, so it may well be way more practical in terms of their financial management to DCA over 3 to 6 or even 12 months or more. Maybe they have zero bitcoin exposure, but they already have something like a $1 million investment portfolio, and maybe their income (disposable income) might ONLY be around $1k to $2k per month (or maybe their overall income might be $6k to $10k per month).. and so if they are targeting something like a 5% to 25% ($50k to $250k) into bitcoin, based on their disposable income, they might have to take 1-8 years to get even close to reaching their BTC allocation targets, so even if they are DCAing, they also may be trying to figure out ways to reach their target levels faster, but still might end up having to engage in forms of DCA when they might have some funds coming available to them or if they figure out sways to reallocate.. and so they might be able to get in the lower end of their target accumulation range, but they still might be striving to reach the higher end of the target accumulation range which could take even longer to reach depending on how liquid some of their other assets might be or if they might be willing to sell them or purely rely on their incoming disposable income which they might be able to increase by increasing income or cutting expenses.

Quote from: Salahmu on Today at 03:00:27 PM

Quote from: Justbillywitt on Today at 12:48:51 PM

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee. Before you can accumulate up to $200, you will have $220 worth of bitcoin and when you are withdrawing your asset, the fees won't be much of a concern to you because you have already made provision for it. You can't take because of withdrawal fee and expose your asset to possible risk. If the exchange get hacked you will regret and would have preferred paying the withdrawal fees that would have been more lesser than losing your entire assets. Little fees shouldn't make us fall victim rather let's plan ourselves to accommodate the withdrawal fees from onset.

Well I understand your points but however from your explanation don't you think the investor will lose a lot of money as a fee? Or being affected financially? Because for an investor to choose investing $50 on a weekly basis means that he cannot afford any other amounts higher than what he had budgeted for the Bitcoin accumulation on the weekly basis, so perhaps advising him to add extra $5 could indirectly be regarded as aggressive investment because is very certain is going to affect him on the process which is why in as much as we are always positive we should also consider some challenges that could possibly occurred if taking a certain decisions because having that mindset always guide us very well on our Bitcoin journey.

So actually after considering all this fact I think the best way is to utilized the Consolidate method of investment which simply means that instead of accumulation and withdrawing your accumulated Bitcoin from the Cex you could possibly give it months interval and by then you have gotten a huge amount of Bitcoin that you can possibly withdraw at ones into your custodian wallet and by then the amount you would have use as a fee will be very smaller compare to withdrawing on weekly basis.

Again another member (Salahmu) seemingly overly focused ONLY on the withdrawal fees, and sure you end up reaching a decently good conclusion, but your focus merely on the withdrawal fee seems a bit short-sighted as to why UTXO management remains important in the present to prepare for into the future and calculations about the future.

Quote from: Zanab247 on Today at 05:11:59 PM

it will help you to earn plenty profit and reduce your gas fee.

But making it a long period of years before withdrawal, it will make it more better for you not to be charging big money on gas fee because you know you are about to withdraw plenty, so that it will bring big money no matter the gas fee that will occur in the cause of the transaction.

Bitcoin does not have "gas fees" Fuck shitcoins, ethereum and all of the others.

We are talking about bitcoin here... try to focus ur lil selfie... or maybe learn what is bitcoin so that you learn how to better stay on topic.