Bitcoin Forum

I have fallen out of the bitcoin world many months back. I'm starting to think the dust has settled now.

I setup coinbase to buy $10 a day of the next year and a half until the next block halving sometime in 2016.

I going to go about my business. No investing in miners, altcoins, etc, etc, etc. I am simply just going to try and forget it.

good strategy

Boring. Where's the fun and excitement in that? I've gotten back into mining! Seems that the value of Bitcoin and the difficulty of mining have throttled each other so now times are good to get back in!

I think it's a very safe and sound strategy and it won't require you to put in too much time and energy. And not investing in Miners & Altcoins is a wise decision imho.

money buys fun and excitement, man.
I'm not sure if OP's method will work 100%, but it sure does sound very safe and easy.

It's actually a good idea, but why setup $10 a day buy. buy it at once and forget it until next block halve?

Why not play with day trading and increase your profits, by selling some, when they are above the purchase price, and then re-investing that profit.

It must surely be VERY boring to just buy $10 worth of Bitcoin per day?

You will have much more profit to show after that period, if you play with the price differences and get added profit from day trading.  ;D

Hmm... It's a good strategy to lower risks thought.

But are you sure? Remember Bitcoin is one of wrost investment in 2014, now 1/3 of 2015 passed by, seems the situation didn't get better, how about shoring Bitcoin?

This is a strange plan. If you have money and belive the price ll go up, buy it all now. Regarding BTC investing, it really can be profitable, just you need to make sure to avoid ponzies and scam which s not that hard. Just skip anything with 0 transparency and unrealistic returns. 60 days ROI, yes, right.

This way he can buy it at all sorts of prices incase he buys $x,xxx & then the price does nothing but go down for the next year - minimizes his losses (And gains)

That and also maybe he can only afford to take out $10 from his earnings everyday safely and by current price, he'd be able to get 1 BTC in about 25 days. So not a bad plan at all.

This is definitely a good strategy for people who believe in Bitcoin but cannot spend time perusing crypto forums/sites everyday. Provided of course the $300 does not cause even a slight dent in your monthly budget. And I don't see it as boring at all, it's just a different kind of thrill, forgetting/trying to forget about an investment that could potentially make you rich in a few years  ;)

A very nice and safe strategy. It really spreads the fluctuation in value, if it falls down a day only 10 was 'lost'. And in the long run if the trend is down, you get more bitcoin for your investment, if the trend is up your initial investment was more than worth it. Now where do I get $10 to spare each day :P

This reminds me very much of mutual funds purchases where the volatility averages out over time. Unlike mutual funds though, bitcoin is far more volatile and hence this may not be the best strategy to invest. Instead, i would suggest buying on dips and selling a bit when high. You may even consider purchasing BTC and investing in the Bankroll of a casino to build up your BTC over time (1% profit should be fairly acceptable to build up especially if you have a lot of coin). I know that this avenue is risky, but buying $10 worth BTC a day is also risky!  OTH if you are limited by fiat, i.e you cannot spend a big amount on BTC atm when the prices are low, you may be better off following you investment strategy.  ;D

see my sig... i am a huge fan of dollar-cost-averaging in small markets ;)

(i developed the service advertised in my sig btw - no sig ad ;))

If you're in it strictly for profit, I understand your decision. I'm in it for the concept and the possibilities this true decentralization brngs, ytet it seems I'm a big minority in the community now :(

Seems like a good plan batman! Trying to keep up with all the latest developments, legislation, alt currencies etc is a full time job and can be a lot of arse-ache when you have to spend hours sifting through bullsh*t to find the right information on a particular topic. If I was in a position to have a similar setup I'd do it straight away. See you on the moon.

This is safe strategy, if you really believe with your strategy, add more your invest for more profit i think.
And yes invest in another crypto coin is more risky especially with investment which can double your money easily.

need to sweep your coinbase 'wallet' regularly in case for when they go bust

That is a good plan. Indeed I am pretty much doing the same thing as you.
I buy bitcoin at every month-end with a small fraction of my salaries and store it in my paper wallet.

Yeah, I
its so hard to just leave your investment and forget about it. For me I just want to invest in altcoins, because their fluctuations are more frequent. And with the bitcoin price lowering, its not looking too good.

I also believe that this is a nice strategy. We may see another drop or two. We're not safe yet. Maybe even a new long-time low. But that strategy is a very good one if you believe in Bitcoin's long-term success! (I do, as well)

That's how I did it... got in and forgot about it... ok well, I am still active in some Bitcoin forums of course :D

A prudent strategy in any form of investing, you are basically dollar cost averaging, therefore you are less likely to be affected by price swings. Best of luck to you!

if you really believe in the long term future of bitcoin then you can just sit and relax. but that's not the case for a lot people. they say i'm in for the long term, but as soon as the price drops they quickly sell. called weak hands.

if you really believe in the long term of bitcoin, you should buy more, not just hold and sit there, thus i seconded the choice of the OP, a good strategy indeed, but in my case i would do only 5, well it depend on how many money you can afford to lose

I do it for the thrills

I don't think it's boring. Sure mining looks exciting but most can't afford to get into it. I think buying a little what you can afford and holding it until the halving would be a good idea. You could trade in the meantime for a bit of excitement but that's risky and you could lose it all.