Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
rachael9385
on 20/07/2024, 11:07:42 UTC
Quote from: Odohu
Quote from: Justbillywitt
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.
I don't think it is a smart move to use 10% of your capital as withdrawal fee, that is too high for me. Instead of doing that, you could buy weekly but withdraw monthly, this way you will be cutting down the fee to 2.5% of your capital. If you continue to spend $5 as withdrawal fee for a $50 weekly DCA, that will amount to $260 annually as fee which is too high for such a low capital. So lile I said before, instead of this, a weeklg DCA and monthly withdrawal will be better.

What I'm suggesting to you is also what I'm doing because we have to maximise the opportunities while cutting down the cost of doing that.
Well, there are some people who don't care about the fee in their withdrawal as long they are going to achieve something in their weekly withdrawal, but the profit will not be big compare to people that withdraw monthly to reduce the gas fee to accumulate profit.  I don't know why some people are very comfortable with weekly or monthly withdrawal in the industry because it will not help to achieve your target on time base on the high fee involved but if you can continue accumulating your portfolio for a long period of years, it will help you to earn plenty profit and reduce your gas fee.
Well, you are getting it wrong about DCA method, if you are indeed investing on Bitcoin for long term with the help of DCA method you don't need to withdraw a dime from your investment because withdrawing from your Bitcoin investment will take you backwards.
As DCA is concerned you don't have to withdraw from it, no matter how the condition is (except it has to do with health). Because of not withdrawing from your Bitcoin investment you must have a solid emergency funds so that you can be able to take from your emergency funds and sort yourself out during emergencies.
Talking about the fees, I think you wanted to say transactions fee, there is nothing like gas fees in Bitcoin transactions, unless you are referring to shitcoins/altcoins which we aren't talking about here.

People who panic are not investors but they are traders.

People who are slow and full of hope are not loyal or long term investors but they are traders.

These two characteristics can be ignored in each of you.

Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.

I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.
early folks who accumulated bitcoin gradually and never considered selling their bitcoin holdings despite it keeps recording  new ATH.  It's because they understood and saw the growth potentials bitcoin carries,
One don't need to panic if he's using DCA method to invest on Bitcoin for long term, and I agreed that those who don't panic and sell their Bitcoin if it hits ATH  is because they are investing on long term and they believed that Bitcoin has a lot of potentials, and they also knows that within some months the figures of Bitcoin they have presently will increase again. And if eventually it dips they sees it as an opportunity to buy more and hold for a longer time. So they also understand all this before they refused to sell their Bitcoin for any reasons.