~snip
Throughout your post, you seem to be overly preoccupied about BTC price movements, and trying to figure out aspects of bitcoin, which seems way less important for any newbie, especially in his first cycle or two of ongoingly accumulating bitcoin - hopefully within his discretionary income.
I am not opposed to guys learning various basic things, yet likely they have to learn about their own finances and psychology more so than trying to figure out details about bitcoin, beyond that it is volatile and price tends to go up over time.
They can learn about
their individual factors while they are investing into bitcoin.. but they need to get started, don't get worked up about the price, and perhaps consider that they will be buying bitcoin for 4-10 years or longer, unless they are able to front load into it. Most people are not able to front load into bitcoin or into any other investment, yet if they are able to front load into it, then they might not need to remain in a strict accumulation stage for 4-10 years or more... but surely they have more options when they have actual lump sum money available... which would allow them to consider their three buying options of DCA, buy dips and/or buying right away.
So that's no problem, right?
Besides, we assume new investors will not have enough knowledge as the veteran as you or others. How come they will make a big profit in the future if they don't learn more about what they do including how to manage their psychology especially when the bearish come? That is the basic.
Many people fall from their DCA when the price suddenly drop too deep and seem can not rise again. But only small percentage who can enjoy their big profit and that is those who have much knowledge.
They can still running their DCA but they can also buy more amount when the dip come so they will have more Bitcoin amount.
~snip
How is your system working for you? You have been registered on the forum for nearly 10 years, so presumptively you have gotten enough bitcoin by now yet maybe if you have ongoingly been employing whimpy bitcoin accumulation strategies, then you are still fucking around with accumulating bitcoin, when maybe you should have had been able to get enough by now?
Let's say that you had aggressively bought bitcoin since the beginning of your forum registration - let's say 15% of your income invested into bitcoin no matter the BTC price, then where would you be right now?
Let's say that you had an income around $35k per year, and you were investing $100 per week (which is $5,200 per year) and that would be 15% of your income, approximately and truly doable.
By now
you would have had invested right around $51.2k (close to 150% of your annual income), and you would have had accumulated just over 25 BTC.
Ok, I will make it simple.
I started invest in Bitcoin with my own money, my salary when I was an employee in a company in 2017. With $240 per month of the salary equal to $2,880 annually, I can saved $20 per month to be used as Bitcoin investment. This is not related from what I earn from forum or other income because that income was for my daily needs. Unfortunately, the daily needs cost become expensive day by day but I can filled that.
At that time, I am not aggressively invest in Bitcoin because I must filled my daily needs. That was a difficult moment for me but I still invested in Bitcoin.
Yes, I have enough Bitcoin right now and I can change my family life better. And I wish I can earn $1.2 million from Bitcoin investment. But that will not be a matter for me because I still accumulate Bitcoin using DCA. Thanks to Bitcoin and DCA.
I doubt that I need to repeat what I had already written, and sure, you are saying some of the right things, even though you are a bit all over the place in regards to various messages that you are communicating, and I still think that you are overly focused on profits rather than just keeping your head down and accumulating as much bitcoin as you can, rather than getting worried about the BTC price... and surely my point was not so much about the amount of bitcoin accumulated, but instead guys investing within their own circumstances, and surely any investment into bitcoin that consistently is able to invest 15% of your income into bitcoin would likely be aggressive, yet historically, it would have had also shown very good results in 2 cycles or less... and we cannot be guaranteed that future results are going to be as good as they have had been historically, even though bitcoin's investment thesis is not seeming to get any worse, even though the upside slope is likely to not be as steep as it had been in the past couple of cycles.
Another thing is to figure out what our bitcoin position size might be, and surely it could make a difference if we are being aggressive in our bitcoin investment orif we are being whimpy, which also gets back to potentially sorting out various aspects of ourselves and our cashflows so that we might be able to better determine the extent that we are even able to get aggressive in our bitcoin investment approach, versus if we might have other investments that we might be considering to involve ourself in as well.
There are
9 individual factors that can be considered in the context of investing into bitcoin, whether we are newbie investors or if we maybe have been investing into bitcoin for a whole cycle or more.
I totally agree with you here. Being aggressive or whippy on our invest should be done based on how well we have position ourselves in terms of our cashflow. If we invest overaggressive without sorting out how we can manage some aspect of our life like lifestyle, debt management or other things we are may be addicted to spend with the reserve funds it may result to nothing in the end.
I personally believe that it is not important for any new investor to invest into anything other than bitcoin when they are just getting started investing, so they might well start out with only having investments of bitcoin and cash, and then they can perhaps work out their bitcoin accumulation path from there and at some point down the road figure out if they might choose to diversify into other assets beyone bitcoin and cash.
Diversification is good but it can be difficult for those investors to know when they are ready to start diversifying into another asset. From my experience they really need to know how solid their bitcoin Porfilio to ensure they are comfortable in holding it as long as they want to regardless of price swings. Not just any amount is possible. Remember when they are diversifying, they can keep accumulating bitcoin but this time the percentage of their discretionary income in bitcoin will be less. After checking the solidarity of their bitcoin portfolio i feel the next thing, they should know is how stable their income is to keep up with the diversification so that it won't stretch them too thin. Diversification can be a burden when the source of discretionary income is shaky, it will take cashflow confidence to have a consistence diversified portfolio. The last thing i did, was to figure out if the reason i am diversifying aligns with my long-term goals. This allows me to stay focused knowing full well that my bitcoin is the most priorities. The reason why i started diversifying into other asset is because in the long run i can choose to take profit from those other investment while i leave my bitcoin to keep running longer.
It is usually not necessary for any beginner investor to invest in more than one asset unless he is starting out with a lot of money or a lump sum, yet surely it is for each person to decide the extent to which he wants to diversify, including that he might have some other assets to draw upon prior to drawing upon his bitcoin, yet even with the other assets, we cannot know the extent to which they might be correlated or not to bitcoin, so if they are correlated to bitcoin, then it might not help to be invested in them for the purpose of drawing upon them prior to tapping into our bitcoin investment.
Hello guys, I’m new to the thread and I want to understand more about buy buy or sell sell , I want to know more about buying and accumulating Bitcoin, I will be glad if you guys can help and reply or give answers to my questions
Thank you .
You should provide some information about yourself and your goals and perhaps you can provide that information without getting into too many specifics.. perhaps talk in terms of hypotheticals or maybe percentages.
Have you bought any bitcoin?
Do you have other investments? how about debts and expenses?
Do you have a steady income? Are you expecting your income to change? Do you know your discretionary income? is it steady or does it vary?
Do you have emergency funds? or other kinds of back up funds?
What are your thoughts about bitcoin as compared with other places where you might invest?
What is your investment timeline?
[edited out]
There are many people that have the habit of buying and selling when they sight profits, these are the people called traders and their target is quick profits and often they miss out on the bigger picture and even run into losses when the profits refuses to come and they are forced to sell at loss.
A lot of people sell too much too soon because they do not understand the value of what they have and the likelihood of later compounding value that can take a while to play out.. perhaps a couple of cycles or more.
[edited out]
.... there are many things to explain but for now this the few i can tell you about bitcoin investment.
all i can say is that you should be active in this thread to understand what bitcoin investment is all about since they say a journey of a thousand miles begins with a step. no matter how i explain you my not graps everything but i guess this little i have said above will go a long way to your quest.
For sure there are a lot of things that you cannot say because Bitcoin.com97 needs to get started investing in bitcoin so that he will be able to formulate questions and also matters will sink in better when he has gotten started and he is interacting with bitcoin in an active rather than in a passive way or a theoretical way.