Quote from: Obim34 on November 28, 2024, 09:33:35 PM

Quote from: cryptoWODL on November 28, 2024, 09:39:20 AM

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Bitcoin should be seen differently, not a business or a quick capital multiplier, the Bitcoin market follows due process which involves purchasing, holding before deciding on when to take profits and no need for charts reading either.

When you are talking about taking profits, you sound like a trader, even if you are referring to long term investing into bitcoin, yet I suppose that it could be the case that once an investor has figured out that he has enough bitcoin, he can thereafter decide to take withdrawals from his bitcoin stash based on price movements or merely based on the passage of time, such as once a month, or once a quarter or twice a year or some other increments that he withdraws some value from his bitcoin stash.

When you suggest taking profits, it comes off as if you are feeling that you are taking a lot of value out of bitcoin because you believe that there is some other better place to put such value, which likely is not true, unless maybe you only have a short time to live and you are merely just drawing down both your principles and your profits in a more expedited way.

Largely long term investors may well not even need to consider taking out value in terms of taking out profits, since the longer that they are in bitcoin then it may well be close to all of their bitcoin holdings is profits because the whole value of the BTC holdings has likely compounded upon itself several times... so the main concern would just be cashing out from time to time and perhaps striving to cash out in such a way that you are not cashing out faster than your BTC is gaining in value... so perhaps attempting some kind of a sustainable withdrawal, unless you are purposefully wanting to draw down the principle too because of some health or age consideration, so then otherwise why would there be any inclination to draw upon bitcoin absent spending from other assets, currencies and income first.

Another thing that could happen is that certain sources of income dries up since maybe a person might decide to recover, so then a portion of their bitcoin holdings would then be used to pay for their lost income whether that is a couple times a month or once a quarter or however frequently that the bitcoiner chooses to time his cashing out (withdrawal) periods.

Taking profits seems like a weird framing for what an investor may well be doing with his bitcoin in terms of managing how he might continue to balance his bitcoin against other assets, even once he might have had reached a stage in which he is no longer buying more BTC.

Quote from: Ricardo11 on November 29, 2024, 04:28:04 AM

Quote from: Mayor of ogba on November 29, 2024, 03:17:18 AM

There's no need to be scared of the volatile part of bitcoin, and this is where the DCA strategy will help you a lot in accumulating bitcoin without being bothered or scared by the volatile part of bitcoin. As a newbie, the DCA strategy is the perfect strategy to use when accumulating bitcoin because it allows you to consistently accumulate bitcoin either on a weekly or monthly basis when your money is readily available. The DCA strategy will also help to control your emotions because you will not be moved by the volatile part of bitcoin since you will be accumulating bitcoin at different prices, which will allow you to accumulate bitcoin even when there is a dip and it will give you the opportunity to take advantage of the volatile part of bitcoin.

Yes, DCA strategy is the best investment strategy for all types of investors, whether new or experienced. This strategy allows you to buy Bitcoin consistently over time, which avoids short-term market fluctuations and allows us to make more profit.
DCA strategy is the most profitable investment strategy, and the biggest example of this is a person named rego who has been following DCA for the past 8 years, he has already made huge profits, but even after that he will not stop investing, he even keeps his DCA investment uninterrupted. This is the power of DCA.
He has achieved real success with DCA, we can be more inspired by his success, we can focus on DCA.

I doubt that DCA is ether the most profitable strategy or it is guaranteed to be profitable, yet the DCA strategy does allow each of us to customize our BTC buys in accordance with our own budget and our level of aggressiveness to buy on a regular basis, and since many folks are not able to lump sum invest, they can buy bitcoin as money comes available to them, which DCA helps to facilitate that kind of customizing of how much to buy and when to buy.

There are so many people who either purposefully or inadvertently never end up saving and/or investing because they might not be able to identify a great place to put their value (which bitcoin resolves that issue) or they might try to strategize to save up to invest into something, but their methods of savings are not good, including that their money is losing value on a regular basis too, so they might have difficulties making progress in saving and even building up in such a way that they make measurable progress over 4-10 years or longer. {Practicing good and strong DCA strategies into bitcoin may well end up inspiring someone to also become more diligent in regards to how they manage their cashflows and any extra value that they have come available might end up getting put into bitcoin right away or perhaps strategically saved in order to bolster their back up cash or their potentials of buying bitcoin on a dip or some other opportunities, whereby prior to getting involved in bitcoin, they might not be as incentivized to create strong cashflow management practices.

Quote from: Dump3er on Today at 02:53:44 AM

Quote from: JayJuanGee on November 27, 2024, 07:05:00 PM

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If global wealth will continue to grow, and I don't know whether it will because I can't judge how AI and automation will affect global wealth over future decades to come, bitcoin would probably continue to capture a large portion of that value added. If at the same time population continues to grow, more people are out there, meaning potentially more people understanding that they should own some bitcoin. But maybe economic growth comes to an end, but then in times of recession or stagnation, people might still consider bitcoin the safest place and invest in it. Or they will be forced to sell off some in order to meet other needs.

Personally, I prefer to attempt to go with the more likely scenarios and then build from there, rather than speculating about a whole hell of a lot of fringe scenarios that may or may not end up throwing off the more likely scenarios.

So the more likely scenarios is that technology improvements improve the quality of life of all people around the globe, even if some folks benefit more than others, and so the presumption would be that wealth continues to grow, unless there are successful attempts to sabotage technologies from coming about and spreading and surely wide-spread wars could end up destroying systems and advancements in technology and the removal of the ongoing growth of global wealth... whether I am even alive 40 years from now, I think about 40 years would be right around the longest that I personally would need to prepare for... on a personal level and/or the extent that I might pass anything down to anyone else... choices can be difficult even if there might be heir apparents.

Surely there are younger folks who may need to try to prepare for longer timelines, perhaps up to around 80 years from now for the youngest of forum members, yet at the same time, each of us are likely preparing from where we are at and then focusing more intently on the upcoming 1-5 years and maybe a bit attempting to prepare for 5-20 years, and our plans become a lot more contingent and general the longer that we attempt to plan out... even though surely with some folks they might have family legacies that they are striving to carry out so there are some people who are trying to be more long-term oriented as compared with some other folks who might not have as many abilities to plan out longer time frames, including some folks who might have difficulties with their income yet they still might have family relations that still allows them to attempt to plan out longer term, even if they don't have stable finances... so finances would not be the ONLY way of planning or being rich, since there could be property rich, socially rich or even family network rich, even though some folks might not be very happy with the family they are stuck with (or currently stuck with to the extent that they perceive themselves to be potentially socially mobile).

Having good or bad health can also give someone senses regarding how long that they might be able to plan out.

Quote from: Dump3er on Today at 02:53:44 AM

It's impossible to come up with a plausible idea as to what is going to happen and how it will play out in two decades from now. But this rough idea that all monetary value gravitates into bitcoin in 50 - 200 years does make some abstract sense as bitcoin meets a dozen criteria to be good money which gold (or any other asset) doesn't meet.

When I suggest 50 to 200 years for something to play out, I am providing a lot of latitude in my own thinking of gradually and then suddenly because sometimes changes happen slowly, and then all at once, and if we try to prepare for the direction that we think the puck is going rather than where the puck is, then we are likely going to be in a better position, even though we likely can mostly do ballpark type preparations for a variety of scenarios rather than getting too bogged down in specifics, so there is a bit of a BIG SO FUCKING WHAT? in regards to where bitcoin might be 50 to 200 years from now, since we have to be both enjoying our here and now and also preparing on shorter timelines, such as we do want to make sure that we are able to feed ourselves and any family (dependents) that we might have, and many times we are going to have a lot of intermediate goals in regards to where we want to be at time 1 month from now, 6 months from now, 1 year from now , 4 years from now, 10 years from now, etc etc etc., and so the further we go out the less that we might get into details, including that I better have enough money to pay my rent, utilities, food, transportation for this month and those are pretty specific numbers, and they become a bit more general the further than we go out in time, even though surely if I have built either life skills (working skills) and social capital, and various back up systems, I might not have to worry as much about some of the shorter term matters working themselves out, yet if I go through some relationship problems, or employment problems or even if I get hit by a bus, then I might have to consider if my various backup plans are sufficient enough to help to protect me (or to keep me in the game).

Personally, I don't see much if any role for gold in my own personal preparations, and sure there might be some people who are in places in which people are used to having gold and dealing with gold, so maybe they are going to be o..k to have some gold in their lives, but I personally consider gold to be completely unnecessary, absent maybe some Armageddon situation..and even then, in the place where I am at, I have difficulties understanding what good the gold might do me. I could buy a few ounces or kilos to store some where, just in case, but I am just considering it to be something that might not be very helpful...maybe in considering a situation in which bitcoin is also no longer valuable... internet is down every where? That would be a pretty bad situation, and I might not be young enough to last through something like that if it comes to fighting over resources, I don't have enough guns and bullets either, which might be helpful in terms of self protection during such times... I think I am getting too far astray with trying to consider some value in terms of having gold as you suggest might be of some value in some scenarios that you have not quite specified what they might be.