Quote from: asarfiar on May 26, 2025, 01:04:00 PM

Quote from: Salahmu on May 26, 2025, 11:49:42 AM

Quote from: Futurexxx on May 24, 2025, 04:47:07 PM

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

Since those acquisition will come from exchange it will be very high in network fees because exchange cannot give you $0.5 to withdraw $20 and this is also applicable to all the units you might want to withdraw from Bitcoin to your personal holding wallet. However this two times acquisition before withdrawals could have been better for someone who is investing high because when is deducted you will still have your main capital almost 100 percent complete because if for instance they have a network fee of $8 and an investor invested $2k, after the fee they will still have $1,992 but the person with $20 will be left with $12, so this is something that should be calculated and no how many times it should be withdrawn.

You are saying it very well. That means as it happens in our banking transactions. For example, let's say 1 dollar, 100 taka. In the case of bank transactions, if someone withdraws 1 dollar, then the minimum online fee is .23 cents. And if someone withdraws a maximum of 5000 dollars, then the minimum online fee is like .58 cents. And for unlimited transactions, the online fee can probably start from 1 dollar and go up to unlimited online fees.

And in the case of Bitcoin, we can see that since the network fee will be deducted at 8 dollars, then I think if someone keeps 10000 dollars in his Bitcoin wallet, he has the advantage of enjoying 100% profit. So let's invest in Bitcoin instead of keeping our money in the bank and make ourselves financially independent by preventing wastage of money.

You are still talking about the wrong point, since there is more than just fees to go back and forth to exchanges, and the question remains if a guy has 50 withdrawals of $10 to $20 each, then there are going to be 50 UTXOs in the guy's wallet, versus if the guy withdraws one time of $500 to $1k, then there would be 1 UTXO in the wallet.

The guy spending the 1 UTXO will have $492 or perhaps $992... .. yet the guy having 50 UTXOs would have to deduct 50*$8 ($400), which would be leave $100 in the case of a balance of $500 and would leave $600 in the case of a balance of $1k. Surely UTXO management is the more relevant concern when guys are seeming to presume cases in which UTXOs are automatically consolidated inthe case of private wallet management, when they are not, even if the balance might show up as one amount.

Quote from: ejikeme24 on May 26, 2025, 02:51:22 PM

Quote from: sotelorene on May 25, 2025, 01:18:57 PM

[edited out]

That's what makes you to be different from other guys, you may be thinking that $2 is nothing" but in the view of other people is such a huge amount of money, and one thing you should consider is the rate of our local currencies when you convert it to USD, for me I don't think if there's anything wrong if one choose to put $2 into bitcoin weekly or monthly, consistency is what matters the most. I would encourage them to do that instead of them to remain no coiners in the rest of thier lives, take for instance if they are putting $2 of their discretionary income into bitcoin every week they're getting not less than ($106 or even more a year) if that does not make any sense to you, then what will you say to those guys that does not have a single stash of bitcoin in thier portfolio? you May be thinking that what they're doing is child's play but before you will realize what they're doing they most have accumulated a reasonable amount of bitcoin in their portfolio. Sometimes they may choose to invest in bitcoin not because thier friends are into bitcoin investment but is because of the good potential of bitcoin which is why most guys will just look for a way to put a little portion of thier discretionary income into bitcoin they might choose to do it weekly or monthly as the case may be.

Sure, any small amount can end up adding up to a lot of money, but it seems to be a waste of time to be focusing on such small amounts for our base case examples. Sure some guys are going to have to round down their numbers to deal with their own finances, yet practically, I see no reason to be giving examples of $2 per month or $2 per week, even if some guys might ONLY be able to do that amount. You can do what you want and present numbers however you like, but it seems better to be attempting to deal with at least $10 per week as our cases on the lower end of the investment range... for our examples...

and yeah, of course, some guys are going to have to adjust the numbers to their level in the cases that they are not able to invest $10 per week.. but we should be trying to keep our numbers somewhat realistic... including even a guy who is investing $10 per week, he may well be in a better situation to wait a couple months or even a year or more before moving his funds to a private wallet, for the sake of UTXO management.. Of course, newer investors might want to establish their private wallet earlier, just to get used to setting up learning about and maintaining a private wallet, yet they do not necessarily need to do set up a private wallet for several months or even up to a year or so in cases that they are ONLY buying $10 per week.

Quote from: tiCeR on May 26, 2025, 07:14:09 PM

Quote from: JayJuanGee on May 26, 2025, 06:36:07 AM

Even though folks can invest whatever they are able to invest, yet I also agree that there should be efforts to bring the amounts and the frequencies of buying up, and I tend to never refer to ideas of investing less than $10 per week, even though surely some guys might be in a position in which they are not able to invest more than $10 per week into bitcoin.

Lower limits make no sense if you stick to it as a set in stone rule, but I think the issue is that there are not very good opportunities to invest amounts that are as low as $10. You would want a reputable exchange with as low as withdrawal fees as possible. The problem is the management of those low amounts taking into account network fees. If someone invests like $5 per week and then has 4 withdrawals a month and 4 inputs, it is not the best strategy to go about investing.

For sure one thing is managing buys in the event that exchanges (or whatever services that guys use) allow for the buying of low amounts that are less than $10, and another thing is managing the withdrawals, and then even another thing is managing the UTXOs that can be thought of as connected to the withdrawals or subsequently how you might treat your UTXOs once you have made them on your private wallet.

Based on UTXO management ideas, I will call anyone retarded who are routinely withdrawing amounts less than $50 from an exchange, even if they might have low withdrawal fees at the time of their withdrawals, since having a bunch of small UTXOs that are $50 or less will have potential for future problems and/or perhaps loss of options and financial costs..

I tend to recommend withdrawing amounts of $200 to $500 and above, even though sure from time to time there might be needs to withdraw lower amounts, yet if there are any transactions in which guys are paying people outside of those who might have similar exchange accounts, those direct peer to peer transactions should be done on bitcoin or maybe on lightning network, unless the service is specifically made for making payments, then the fees for making payments should be looked at if that's how it is being used... Surely there are people who pay small amounts using their exchange accounts, which is not really very practical, and exchanges do create wallets so that they are kind of an intermediary kind of wallet that is not as good as an open source wallet that does not necessarily have the ability to spy on transactions, to block them and/or to steal wallet contents.

Quote from: tiCeR on May 26, 2025, 07:14:09 PM

There is a spot when saving for a month gives you less frequent exposure, but saves on fees and risk. Sometimes you got withdrawal minimums as well, which means you would have to find an exchange that has no minimums, very low withdrawal fees and then you would still have a lot of inputs if done on a weekly basis.

I don't like the idea of withdrawing funds from exchanges every week unless the amounts are $200 to $500 or more, and probably the higher amount would be preferred, especially if the withdrawals are going to be every week.

If a guy has $10k to $20k or more in bitcoin that is held outside of exchanges, then maybe he can even afford for the exchange amounts to get up to $1k or more before he processes any withdrawals (which would be 5% to 10% or less of the BTC balance amount).

Quote from: tiCeR on May 26, 2025, 07:14:09 PM

If somebody says that they fear not being able to manage saving for a month and then rather do a $20 or $40 investment instead of smaller amounts weekly, well then bitcoin is a tough investment anyway and it does require patience and consistency an definitely the ability to resist volatility and early sales.

The issue is the whole process. I think finding a place to buy bitcoin is possible, but that is not the last step if they want to get their investment right. You will want control over it and this is where it becomes complicated with very small amounts.

A few years ago (in mid 2021), I had recommended that a fairly well high educated and professional person in real life with an income that was likely more than $100k per year (and the person had a house and some other investments like a 401k and of course auto ownership and a few other modern day niceties) buy $100 of bitcoin per week, and then maybe after 6 months to a year when the amount that was invested into bitcoin got to be $3k to $5k, then the person consider buying a private hardware wallet and transferring over to the hardware wallet. Of course, a presumption was that the person would continue to learn whatever was needed to know, including learning about hardware wallets, and I recommended investing 4-10 years or more with that method and then for the person to reassess the situation from time to time... so then maybe after no less than 4 years, the person might consider whether or not to start withdrawing bitcoin, since the person would likely be in a retirement stage at that point... but might not need to start to withdraw from bitcoin until perhaps 10 years or more, since a presumption would be that the bitcoin would be the last thing to sell in reference to other investments that the person might have at time of retirement.

The person did end up somewhat following my advice to get started and bought around $50 per week of bitcoin and for about a year and half.. perhaps a bit longer than that, and then ended up selling most if not all of the stash at close to break even amounts... and there were some other mistakes that were made within that process too. I was mostly upset of effort the person seemed to make in regards to self-teaching about their investment, since surely I understand that mistakes can be made along the way, yet each of us should be striving to protect ourselves from our mistakes.

If that person had listened to me then the invested amount by now would be right around $21k and also around 0.6 BTC accumulated... which surely would be a good place to be, especially given the proposed invested amount and the likelihood for the person to handle the matter, yet likely a need to learn about employing strong cashflow management practices. A lot of people are challenged with strong cashflow management practices, which they should be able to learn along the way since a lot of cashflow management do not take high level skills, but instead practice. The same is true when it comes to bitcoin and/or UTXO management. For any adults who chooses to get involved in bitcoin, there needs to be some self-responsibility and desires to learn about managing keys.