Quote from: reefsea on Today at 10:08:38 PM

Quote from: JayJuanGee on Today at 04:39:00 PM

When you are just getting started, you likely are forced to buy at any price.. perhaps for a whole cycle, and maybe even for two cycles.

When you are just getting started, you might not really know if the price is rising or falling, so if you don't have any coin, then the ONLY way to prepare for UP is to buy some coin. If you don't have any (or many) then you may well not be adequately prepared for up.

Long term HODLers (and BTC investors) might not preoccupy themselves with "taking profits," since that surely comes off as a trading term, yet if someone is bitcoin for a long then, his BTC portfolio has decently good chances of being in profits, and he ends up having more options in terms of selling, yet it can take 4-10 years or longer just to build up a decently sized bitcoin portfolio, so if someone is building his BTC portfolio, it may be best in his interest to just keep building up his BTC portfolio, whether he perceives the BTC prices to be going up or going down, and then perhaps after 4-10 years or longer reassess in terms of where he is at, whether he might want to change any of his strategies, and/or whether he might want to start to sell some of his bitcoin - which I would not consider to be taking profits, since why the fuck would someone want to spend 4-10 years or longer building up a BTC holdings and then to sell to either consume all of it or to get into some inferior investment?

For beginners of course they don't have to think about the price when doing it for the first time because if the idea is implemented for the long term of course they will buy every time with DCA. If beginners measure profits quickly I think they don't understand how to invest properly because investing in bitcoin takes time to achieve satisfaction, either profit or satisfaction with Bitcoin ownership.

Indeed, there are some crazy ideas that are implemented by beginners because they want to have bitcoin quickly so that lump sum purchases become their idea. Although that is a fairly appropriate step, but if for the long term maybe it can be bought gradually because I noticed many good moments that can be utilized such as down 10%, down 8% and down 20%. So that opportunity can be used to buy aggressively.

I think that beginners will sometimes want to front-load their investment into bitcoin, and they can front load with a variety of tactics including DCA, lump sum and buying on dips, so there is not just one strategy, and surely anyone who has decent cashflow will have more options... and yeah a cashflow that potentially provides quite a bit of discretionary income too.

Otherwise, folks who do not have a lot of discretionary income are going to be more limited in the ways that they might be able to front load their investment, so perhaps the most that they can do is to invest 100% of their disposable income, yet i would not recommend investing 100% of disposable income unless there are various kinds of emergency funds and reserve funds available, since even the most standard and simple of budgets are likely to have some variability in terms of cash coming in and mostly non-discretionary expenses.

I have been doing some further thinking based on my thinking about Adam Simecka's comment in an interview, as I mentioned in my post from a couple of days ago (in this same thread).

Quote from: JayJuanGee on September 22, 2024, 09:31:29 PM

Bitcoin is the kind of asset that you don't need to worry about selling.. just continue to buy at any price for maybe 4-10 years or longer and then reassess.

Actually I recently heard a podcast interview with Adam Simecka, and he recommended to try to get your situation so that you can live off of 50% of your income and then to buy bitcoin with the other 50% (presumptively at any price), and then he assessed that after 8 years you would be in a position to live off of your bitcoin.. which on the face seems somewhat reasonable and potential for guys who might be able to do some variation of that..p

I am starting to think that if you are able to figure out a way to live off of 50% of your income and you are able to invest into bitcoin for 10 years with 50% of your income invested into bitcoin, then that would mean that you had ended up investing right around 5 years of your income into bitcoin, and since you had already demonstrated that you are able to live off of 50% of your income, then after investing into bitcoin at that rate you have effectively reached fuck you status , and surely if bitcoin appreciates in value in any kind of meaningful way in those 10 years, then the timeline would become shorter. .For example if you had been investing into bitcoin for 5 years, and then bitcoin price all of a sudden doubled in the 6th year, then you may well have had reached fuck you status. The main wrinkle that I would consider is that from my own perspective fuck you status has to be measured from valuations of BTC holdings based on the 200-WMA (which is a bottom price) rather than spot price, since it is difficult to rely upon spot prices not going down to 200-WMA levels from time to time.