Almost anyone should be able to figure out whether they have an extra $10 or not. If they cannot figure it out, then they have to figure it out...so once they figure out that they have an extra $10 they can get started, and they can sort out the other aspects of their potentially messy finances and/or psychology as they go. Position size can do a lot in terms of both starting out and also not overdoing it so that there are abilities to figure out an appropriate level of aggressiveness. I would thing that most people are going to start out investing into bitcoin in a non-aggressive way and work their way up towards being more aggressive, unless they happen to already have a pretty good grasp on their finances and they can understand and appreciate the strength of bitcoin's investment thesis from the start.
$10 constant investment will amount to little in the long run and almost a messy way to start up a bitcoin investment, I think also that for anyone to arrive at a successful investment position one needs to be aggressive a bit, at least that will help us to be able to take some aggressive financial decisions that can help us to arrive at a good investment position faster.
Investing a low amount like $10 as mentioned by members sounds like a joke considering Bitcoin's current value.
Surely, I am making a point about getting started and also about being reasonable. When a person is getting started he will likely not know very much, so he has to pick a starting entry level amount, and surely $10 does not seem like much, but it can still be used to suggest that almost any random person who we might pick off of the street should be able to figure out on the fly whether they have an extra $10 to get started. Sure for some people they have a lot more money at their disposal, yet a certain number of guys still have some troubles with even getting started with putting $10 per week into bitcoin.
Some beginners do not have any idea on Bitcoin investment or any strategy they can use to accumulate Bitcoin in to their portfolio during the month but they still choose to get started cause they believe that the earlier they start investing on Bitcoin the earlier they also get knowledge about Bitcoin and the kind of strategy they could use to keep on accumulating more Bitcoin. However at first they may think to invest little amount but as time goes and they begin to understand the process of Bitcoin investment, they might decide to increase the amount they are investing on Bitcoin (many from $10 to $50 weekly). Weekly Bitcoin investment is kind of better than monthly investment but it depends if the investor is getting money every week.
We are likely saying similar things, since there is one aspect of bitcoin investment that revolves around getting started and putting systems into place in which a person is getting used to buying bitcoin on a weekly basis (or whatever other frequency of buying that might be employed). When he first gets started buying bitcoin, he might ONLY have some general ideas about how much money that he has available for buying bitcoin, and he might even question his level of conviction in regards to investing into bitcoin, yet he might appreciate that he needs to both get started and to look into bitcoin more.
Ultimately, it seems to me that the deliberate and organized of the bitcoin investors are going to have systems in place to attempt to account for their
9 individual factors and even to reassess their 9 individual factors from time to time. Of course, if a person has been investing into bitcoin for more than 1 or 2 cycles, they might not have to really consciously treat their 9 individual factors since they already have systems in place in which they are accounting for their 9 individual factors (and making adjustments from time to time).
Once a person get's past his very initial stages of starting to buy bitcoin, and figuring out how to source his bitcoin and maybe even figuring out the extent to which he is going to be putting some or most of his coins in private wallets, he is also likely in the process of making sure that he has various strong cashflow management systems (and back up funds) in place, and realizing that he might not have had needed various back up funds prior towards getting involved in bitcoin, and realizing that back up funds are more important in bitcoin because bitcoin is so volatile and he should not want to have to sell any of his bitcoin at a time that is anything other than his own choosing.
If the guy starts out investing somewhat conservative into bitcoin, then he will also realize that the more aggressive that he becomes in his bitcoin accumulation tactics, then the more likely that he is going to have to assure that his various cashflow management systems are strong, organized and he is able to account for his level of aggressiveness - including that he is not devolving into gambling techniques or overly putting his bitcoin at risk, and hopefully mostly steering away from trading bitcoin and/or shitcoining. The guy's practices likely need to be tailored to his personal circumstances (finances and psychology), and yes he might end up making mistakes from time to time, and yes, he might even sometimes have doubts about his goals or how to consider his goals and/or his targets so he might have to adjust from time to time, while also carrying out his regular life in which he might question if there might be ways that he can increase his income and/or decrease his expenses.
So yeah starting out with $10 a week might end up changing quite drastically, and if the guy already has bitcoin buying systems in place, he may well recognize that sometimes when he receives extra pay (or maybe even some lump sum payments), then he could consider allocating that money into bitcoin and to consider accumulating with that extra money through DCA, lump sum and/or buying the dip. It seems more likely that the guy might start out more whimpy and turn more aggressive, yet he also might start out more aggressive than he should, and then realize that he needs to temper down his approach to make his bitcoin buying techniques more sound and/or reasonable and less likely to either cause him emotional distress or even having him run the risk of losing money if he ends up spending from money to buy bitcoin that he actually needs to cover his expenses.
Well to me I don't really see any thing wrong with that, starting with $10 if that amount is one's discretionary income since it is not advisable to invest money that will be needing for our daily expenses into bitcoin so instead of waiting for our discretionary income to increase while we are a no coiner or a low coiner starting with $10 discretionary income won't be a bad idea.one can be accumulating bitcoin with $10 and at the same time while working on increasing his discretionary income .
Trying to run an investment with a fund of $10 is clearly okay as long as it can be done routinely every week by the person running it and it can also be considered as a form of his own business that he started from small to become more when it has been collected slowly through the $10. Because the goal itself is to buy Bitcoin with the existing level of ability and it will also become more over time so there is nothing wrong with that because a better investment method is when someone wants to do it comfortably without sacrificing anything to himself except for capital and time.
Historically, there have been quite a few folks who invested into bitcoin quite whimpily, and they still ended up profiting stupendously, yet perhaps having regrets that they had been overly whimpy in their bitcoin investment practices.. but then they still have to live with the consequences, and maybe even learn a lesson to invest into bitcoin more aggressively, if they consider that they still want to build their bitcoin holdings.
But I have also seen someone who tries to collect money to become more before he uses it to buy Bitcoin. The only downside to this method is when the price of Bitcoin starts to increase and he still hasn't bought it, so it can also be a loss for him because he has delayed buying because of the amount of money that has not been collected as he wanted.
Sure there are guys that build up funds for buying on dips, and then they likely end up getting too greedy and letting their buy on dip fund become too large, and then they feel regrets if they had not deployed some of that money to buy on dips.
It seems that each of us could put systems into place in which we can actually make sure that we are buying bitcoin regularly and not letting our buy on dip funds get too large because we are unnecessarily getting greedy and not actually realizing the negative side of our holding so much value in dollars that we probably should have some of it, if not all of it in bitcoin rather than sitting on the sidelines waiting for dips that might not end up happening.