Bitcoin Forum

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I wanted to buy my first Bitcoin in the month of October but, based on some personal issues, I tried not to invest at that time.
However, that was the best time to buy some Bitcoin, but still, today I have finally bought my first Bitcoin. It is quite hard to do this, but I finally did it.
on this thread (https://bitcointalk.org/index.php?topic=5469290.msg62948934#msg62948934), I talked about my plans on how I can buy Bitcoin monthly, but I finally changed the plans, so I have save enough money through the help of my business (I have cars that I use for bolt business  (https://m.bolt.eu) and I am making good profits from it).
Although I bought my first Bitcoin through a P2P transaction with an exchange wallet, after receiving my first coins I have to resend them to an electrum Bitcoin wallet because it is safer.

With the names above, I was so encouraged to buy Bitcoin and hold it for a long term.
@Distinctin, @m2017, @Peanutswar, @wxa7115, @wxa7115, @TheUltraElite, @Minecache, @lovesmayfamilis, @Lorence.xD, @Nrcewker, @Blitzboy, @lranus, @Darker45, @adzino, @CryptoHeadlineNews, @Ultegra134, @gunhell16, @rachael9385, @aylabadia05, @tabas, @CryptopreneurBrainboss, @Cryptomultiplier, @Lucius, @cryptoaddictchie,@Jawhead999, @tbct_mt2,Z-tight, @Yamane_Keto, @Out of mind, @Oshosondy, @mocacinno, @Dave1, @Makus, @Mr.right85, @serjent05, @Potato Chips.

With the help of the above names and those that I didn't mention, I was encouraged to start the investment as soon as possible.

Congratulations on your bitcoin purchase. Having some investment in bitcoin as the halving and bull run season is approaching is very appealing to oneself. You’ve made the right choice to move your bitcoin to a decentralized wallet for complete ownership and control of your funds. Now that you have the keys to your coins, keep them safe and do not allow anything to infiltrate your wallet. Security and privacy is key to every bitcoin hodler, you should keep things private going forward and not show anyone how much you’re worth.

I just wish i had an extra smerit, I would have given you for your brave step into investing in Bitcoin. But moreover, I must commend, I feel honoured to be mentioned as one of those who did courage you into purchasing this your first Bitcoin, as it is indeed good move in the right time, as Bitcoin has been recently noticed to skyrocket within the past few days, and yet has a higher tendency to gradually continue to almost $50k (i.e mere speculation).
While secondly, I must recommend you make security your top priority, by storing your wallet 12 words Seed phrase in a well secured place, while avoiding to click any link you don not understand to avoid been hacked. Because $1429 is a very huge sum to be kept carelessly

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DCA is good cause it means you would have gotten your bitcoins at a much cheaper rate, but buying in bulk means you avoid paying repeated transaction cost and exchange fee to buy and withdraw.

Remember to back up your seedphrase in more than one location, to not have a single point of failure.

- Jay

Congrats on your purchase, I think this is a perfect time to still get inside the market and buy one time. It could also be done by using the DCA method. But it seems that you doesn't want to do obviously as you have the capital to buy in bulk.

Just remember though to protect your bitcoin at all cost. Maybe the next best thing for you is to learn and practice safety here.

Hopefully, you put your BTC on a Non-custodial wallet, a wallet which you have total control.

Wow. That's a pretty big first purchase buddy because if you look at the conversion of the amount of bitcoin you bought at the current price it's more than the $1000 you spent to buy the first time today.
But congratulations on your first purchase at this time because even though the current price is still quite large but I think it doesn't matter if you are serious about investing in it especially for the current price of bitcoin will definitely be even higher than before.
But on the other hand, don't let this be your first and last purchase. There are some good strategies if you are serious and have money that is not too used with DCA or buy on the dip I think it can be a good method for your next purchase.

I had 2 btc when their price was less than $200, sadly my situation forced me to sell them at $300, therefore I came to the conclusion that if we do not have economic stability we will not be able to maintain it in the long term.
but without a doubt it was a great investment.

I would say this is a great idea by you to go into full custody of your bitcoin by choosing an electrum wallet. The wallet is more secure than centralized exchanges like binance, just be sure you keep your seed phrase safe and store it online to avoid it been stolen. As for the device in which the wallet is installed make sure it is free from malware or viruses and avoid all clicking unnecessary links to avoid phishing attack. To over this device problems I will advice you consider purchasing an hardware wallet like passport.

Also take note of your privacy, you do not need to disclose this current picture showing your bitcoin.


Don’t feel bad about your choice, anybody can make same choice once, at least we you something to turn to in terms of need. In future I will advise you use any amount that you don’t need and not probably your emergency funds so that you don’t turn to bitcoin every time you need money. The longer you hold the more the better and the more gain you will gain

Congratulations on your very first purchase. You just have to be consistent in DCAing because when everybody is telling you to do so and you have obeyed, you're also the one that shall take that result that's beneficial for you.

That's sad but as long as you are able to use it when it was $300 and it has helped you by that time, I know that it sucks when the price is higher today compared to that time and it's way higher, there's nothing you can do now but to buy back and take the experience.

It is true and that's the reason why you need to use your spare money or amount that you can take whatever happens.

Wow, I can't believe I was mentioned seems like a privilege.  :P

Su-asa, congratulations and that's a good step that you have taken the advice of many from here. That's because it's not always that there have been good advises but nobody takes it seriously. But you are different, you have taken our advises and you have bought it while we're not yet on the halving. I think that you need to maintain this practice because whatever you're feeling right now or what level of happiness is in there on you, maintain that. This time, there will be ups and downs on this market but just enjoy it and endure all the pains and negatives that you might feel because they're part of it and essentials to survive into this market.

Kudos mate! This is the start, may there be many many more bitcoins in the future and fewer (hopefully zero) hurdles along your way. The toughest part is to understand that investing in bitcoin is a great idea, there will be moments where it will feel hard to hold, the price will fall and many things will happen, but if you can weather the drops and the crashes, then as long as you hold it then you will make a profit. Thats the good thing about bitcoin, there is very very few people doubt its future, as long as you hold it, eventually you will be happy that you bought it, and other are not many investments like that in the world, it should be a very proud moment for you.

Congratulations and welcome to the Bitcoin community. It was good to see that eventually you bought your first bitcoin, and your buying experience was good. I am glad to see that you moved your bitcoin to Electrum, which is a non-custodial wallet. In the future, try to buy a hardware wallet when you can afford it. Because a hardware wallet is more secure and doesn't cost much lately. I assume you will buy more bitcoin and increase your portfolio this way. Make your own Bitcoin investment strategy, which will help you build your portfolio the right way. Don't regret it, and hold tight if you see Bitcoin start dumping.

OP bought it at Binance and it's likely that that bitcoin is going to be staying there for awhile but I assume that OP has already done his research about having a non-custodial wallet so hopefully OP did have some research about it to store somewhere. That's a hefty sum of bitcoins that OP bought for such a high price in the market, hope that he's going to HODL for long and at the same time get the profit that he deserves for hodling that long. To OP, heed @Jating's advice about creating a non-custodial wallet for your bitcoin storage.

It’s a shame that you weren’t able to buy in your initial plan where the price was significantly lower but no matter at least you have invested already! keep your holdings safe seeing that you are keeping your wallet in your phone make sure that your phone is free from dangers both internally and externally you don’t want your phone to be infiltrated and you also don’t want your phone to be stolen congratulations and may we all reap profits!

Congratulations, OP, on achieving your goal, even though we will continue to advise you to acquire more Bitcoin using the DCA approach to add to the amount you already have. It's not always simple to invest your money in Bitcoin, but you were willing to make sacrifices for a better future for yourself. I wish you the best and hope you maintain your Bitcoin for a long time, because Bitcoin has a future plan. Do not panic and sell quickly after the halving, but do not be greedy either.

Congratulations on your first bitcoin purchase. It was really not an easy decision for you to make, but you still pulled it out. One thing that interests me the most is that you moved it over to a self-custodial wallet where you can be in charge of your own security.
 
But how do you manage to withdraw from Binance with the high rate of fee that they charge more than usual this period? With the rate of transaction fee, I can see the need for buying in bulk rather than the normal DCA because the fee alone can be almost equal to what the person is buying.
 
Next time, if you want to buy more, you can use Dex exchanges to make your purchase; their fees are relatively lower than what CEX charges for a single bitcoin transaction. Congratulations on joining the Hodlers family.

Congratulations Su-asa and welcome to the club! You made quite a big purchase for a first timer. I guess waiting all those months really paid off. I suggest in the future you do DCA to find a good buy entry. I applaud your decision to move your bitcoins from the exchange to your Electrum wallet. Many beginners make the mistake of leaving their coins in Cexs. Glad to see a newbie starting the right way.

Well, first and foremost, congratulations! It's great that you've made up your mind, and thankfully, you didn't listen to those who say it's too late to invest in bitcoin now. Anyway, good luck on your investment journey. I know you understand the risk you're taking, and we are proud that you like that risk. Just keep holding that asset you have. I'm sure your investment will be rewarded. Although I have satoshis now, I still want to save up or do DCA to bring a full bitcoin. That is my goal, so we are the same; we are investing, and with the help of the forum, we could decide what we will do. But the thing is, you should always be careful, as you should not just buy and buy because you need to consider a lot of things, such as the position or price where you will bring a bitcoin.

Congratulations to you, indeed the journey is not an easy one buy you took a bold step by pulling the trigger. One thing is to hear another is to do. It is easy to say than don but indeed you really prove to many that all what they say, is not a waste of time and efforts. Many old members here have not taken this bold step you've done, despite your not into signature campaign. Because many here will never use there money to invest in bitcoin except for signature campaign weekly payments. you have done well, it's an encouragement to many who always protcastinate.

This is a big win OP! With you just doing this, you understand your assignment, and you know how safe centralized exchanges are, so it's good for you that this is your first action after you bought your Bitcoin.
And maybe next time there will be P2P platforms that will not use a centralized exchange like Bisq (https://kycnot.me/service/bisq).

That's great! Congratulations! And I'm honored to be one of those people who influenced you to get into it.

The first step is always the most important step. I hope this is just the start and you will have more purchases in the future.

If you're investing in Bitcoin or if you are using Bitcoin as a way to save, I can only hope that you intend to hodl strong despite the ups and downs. I don't know where you are from and whether Bitcoin is accepted as a payment in your place, but it is also a good contribution to Bitcoin's adoption and realization as a currency if you also have a certain amount in a different wallet for spending.

Welcome to the world of Bitcoin, and I hope you continue to have a positive experience with your investment journey. Remember, Bitcoin is a long-term investment, and fluctuations are part of the game. Anyway, good luck with your investment, and may it bring you great success in the future. I think consider using a hardware wallet for extra security. Keep your private keys and recovery phrases safe and secure and beware of phishing scams and fraudulent websites.

That is a good amount to start up holding , Congratulations then mate and hope that you will add more as time goes by depend on the availability of your funds that can be risked and not just to assume that you will be rich sooner.

the market is going great now and yes be ready for some dumping to come sooner as it is expected from this Bull that we had in year ender months.

Just make sure that the funds entered are your amount to wait for the ATH or more and not as short term because you may fail in time expectation .

Congratulations , lucky for you having that as your first step because I remember my first Investment in bitcoin back in the years is just 0.008 in which cheap to consider but that is the only amount I can afford to lose those days so I still started to buy.
eventually I added some and fewer till I reached how much I have now so thanks to bitcoin and thanks to this community.
I did not mentioned them for inspiring me but Until now I still remember many of them as we are engaging in forum for years.
now you are Inspiration to many that still having thoughts on how long and how much they are investing in bitcoin.

At least the time you did that, you really decided to buy and apply for a DCA for Bitcoin. You didn't pay attention to the price that bitcoin has now, which, if we look at it literally, is expensive in reality.

But even so, you thought more about being able to really save, and from what I've seen, it's actually not too late. So, congrats to you, and just continue with what you started here, dude. May you accumulate a lot before the right time to sell actually comes.

Congratulations, friend, you will be a lucky person in the future, especially if you continue to buy BTC gradually using the DCA method. I also salute you for purchasing your first BTC directly with an amount that can be said to be fantastic and having high self-confidence. I'm not surprised because you got advice from seniors from this forum, making you more confident in buying BTC in large amounts. .

The step you take, to store it in Electrum is also a smart choice because storing BTC on the exchange is not a wise choice. In the end I want to congratulate you on your first BTC purchase, my first BTC purchase with the amount of $200 btw. :D

As other members have said use DCA to buy more coins in the future. Since you said you have a source of income already and you make a profit from the business, it would be better to use DCA to buy coins at lower prices. It's better than saving a huge sum of amount because things might keep happening that'll make you use the money in your savings.


Good move from you. Don't leave your coins in an exchange. It's what I've always been saying, exchanges are just a marketplace. Buy your coins there and move your coins to a non-custodial wallet where you'll have full control and security over your coins.

Well done, less blah blah, and more action on the bitcoin idea, you are a good example...congratulations. Now hodl, sell, and/or buy, so, for everything else there is Trust.  8)

Well congratulations on your bold step taking to buy your Bitcoin now and I must tell it's actually a good one because so many people out there would be thinking that due to the massive increase and with the fact that Bitcoin is set to drop again will be thinking that Bitcoin will drop in price anytime soon due to the halving so they might term this period as not a good time to buy but I say this is another beautiful time in the crypto space to buy because Bitcoin might continue this trend till next year and with the amount you have bought, seeing profits in your investment will not be that  long that's if the uptrend continues.

Taking the first step is the most important in the pathway to success. I have seen people that kept saying they would invest in Bitcoin but they never took that bold step. Congratulations, you are now a Bitcoin investor and I hope you will be patient enough to see your investment grow. Ensure you keep your funds in a non-custodial wallet and plan to buy a hardware wallet when you have a reasonable amount in your wallet. Learning about Bitcoin is unending so you need to keep researching the sector and this forum will be important in your quest to acquire more knowledge. As a newbie ensure your focus on only Bitcoin and don't be distracted by the enticing profits that altcoins offer. Altcoins are risky and needs more skills to handle.

It's a shame you didn't buy it directly in October when you were thinking about buying it because maybe you could have saved some money. But it doesn't matter, maybe you have your own considerations when you want to invest and I understand that.
And congratulations, you have started an investment which will definitely be worth it if you are patient and persistent. Surely you will learn a lot from this, because no investment runs smoothly, but rest assured that there are many people here who have proven that Bitcoin can give you profits and make sure that you will be that person.
You can discuss with many members on this forum if you feel confused or want to get advice, whether in terms of investments, wallets, etc. Don't ever hesitate to ask anything, because we are a community here that will help each other.

OP, I am so happy that you took a bold step to buy bitcoin, after much advice from forum members, and you never neglected them. It is not late as bitcoin price is still cool to buy and you bought with lump sum, which is a good buying strategy. I hope that you have plans to hodli your bitcoin for a long period of time, so that your investment can grow.

Since you said that you are into bolt, you should think of using a certain amount that will not affect your monthly expenses and also keep down an emergency funds to enable to use the DCA method to buy bitcoin weekly or monthly. With this regular purchase, you will be increasing your bitcoin portfolio gradually.

Congrats mate.

Welcome and congratulations! It's good to see new people in the BTC community. I hope that you won't be disappointed and already know what to expect.

Congratulations on taking the plunge into the world of Bitcoin ownership! The decision to invest in Bitcoin, especially with the halving and potential bull run looming, demonstrates your forward-thinking approach and understanding of the evolving financial landscape.

Your journey into the world of Bitcoin has taken an exciting turn with your recent investment and subsequent transfer to a decentralized wallet. This move signifies a deeper understanding of the crypto landscape and a commendable commitment to securing and controlling your assets.

The journey ahead promises to be filled with challenges and opportunities. By embracing the principles of self-custody, security, and discretion, you have positioned yourself to thrive in this dynamic and ever-evolving environment.

Yeah, now you can boldly say you are a Bitcoin investor. It is quite interesting to see that when newbies join the forum, they usually get the required guidelines for making a successful investment, unless for those who create time to read instruments but find it very difficult to follow those instructions. If you are determined to read and follow the instructions of other experienced users in the space, then you will likely not have any difficulty in your investment process.

I hope buying $1000+ BTC isn't the end? Because price volatility is going to happen which can bring better buying opportunity, that's why DCA is better than going all in on Bitcoin.

Do not stop here, wait for some price correction, and DCA with small money from here and out, like $100 or $200, if you buy this BTC at $33,000 it's better than buying at $44,000 but it's better to have some Bitcoin right now than not having any at all.

Congrats on your first purchase and keep going hard on Bitcoin for long term, you are welcome to the HODL club.

Congratulation your first bitcoin purchase and hope you can be long term investor with diamond hands  ;D, I am so excited with first bitcoin purchase you invested huge amount 0.033 BTC estimation values $1446 current bitcoin price right now. You have good mindset when investing in bitcoin without care current bitcoin on good trend but keep purchasing and don't  limit your self for another purchase in the future. You can accumulate later when bitcoin have little drop price but depend on your financial condition if ability purchasing huge amount is not problem but don't press your self have to invest bitcoin with getting loan or borrowing.

Enjoy your first bitcoin purchase and don't miss any update exactly when bitcoin have good or bad news for your planning in the future with second purchasing of bitcoin.

Hmm, sad anyway it's never too late to enter Bitcoin because there are just a few halvings gone, a massive number is still on its way, and your entry can be still perfect just take a forward step. I'm happy I acknowledged Bitcoin in my early time while entering the financial world, I even know people from 2012 or 2016 somehow connected with crypto and even they dont have their targeted accumulation till now.

So it's not about from how long you are connected, it's from how long you are taking action. OP congrats on your first buying, a decent amount according to me you've got it in your first entry and for many it took many entries to fill this numbers of accumulation.

i am always happy when someone new buys bitcoin, i congratulate you for buying it successfully, and believe in bitcoin to be your long-term investment.  You said you had the intention of buying bitcoin last October but only now has it been realized, if only you had done it last October then i'm sure by now the value of the bitcoin you own would have risen 1.5x, Thank God you are not too late to buy Bitcoin, rest assured that Bitcoin is very suitable for long-term investment, not suitable for short-term investment ^{(unless you are a trader)}

I don’t see anything to be ashamed of, we all can’t buy bitcoin at the same price. Some people will be opportune to buy at a cheaper price, others will buy at a high price, but if you are holding for the long term, I don’t see anything bad in that. The worst mistake everyone will make is not to invest. The set of people who think the bitcoin price is too high and won’t be investing right now will end up regretting why they didn’t invest at the current price later in the future, because the bitcoin price will be massive in the future, so we shouldn’t think the bitcoin price is too high, and because of that, we won’t invest.

Op you really tried for investing in Bitcoin at this time. Everyone dream is to invest on Bitcoin and hodle it for the highest bull market. And the number you bought is encouraging. Congratulations for the new journey you have embark upon. And the only thing I will say is don't be shaking and always have the confidence to hodle them until you are satisfied to sell them. The 0.033 Bitcoin you have now will be the Bitcoin you will have even 20 years to come. There will be no unit of Bitcoin you have will be reduced but the only thing that will reduce is the Bitcoin price and not the Bitcoin you have.

Therefore you have to be afraid that your Bitcoin is reducing. Your Bitcoin will not reduce in any day.ans you do well for moving the coins from the Centralized Exchange to the Electrum wallet.

Great job OP. Finally, you have made your first step on reaching your goal, so just continue to buy and do DCA and you will see yourself riding the hype gaining massive profits when bull market happens. Don't be bothered by the market volatility, bitcoin price might dropped a little but it will recover eventually so you don't have to worry about it. Just don't be tempted to sell when you see bitcoin price surging, just sell when the market is finally bullish.

For now, study the market more and learn how to overcome the risks in bitcoin. That is only hard at the beginning but you will get used to it when you invest more and stay longer in the market.

This is a BTC forum, so we would surely be happy when people buy and use BTC, so it is good that you decided to own some coins for yourself, i hope you are taking the security of your funds seriously, back up your seed phrase in more than one location, when your funds get bigger, use a hardware wallet or an airgapped device and add extra layers of security like setting up a multisig wallet or extending your seed phrase with a passphrase. It is worth mentioning as well that BTC is p2p electronic cash, so if you have the opportunity to spend your coins on goods and services, don't hesitate to do so.

Welcome to the community of bitcoin investors. I'm glad to hear that you have finally made your first purchase, although with a high price but still the coin is still worth the price investing for. My advice for you is to always seek for long term hodling no matter what happens. The market may suddenly turns bearish but when positive news and updates hit the market, it will turn into bullish again. So be confident with your bitcoin investment, your success will certainly be achieved if you are strong and determined enough not to fall from the traps of the market.

I know you're overjoyed right now. But don't let your emotions control yourself, but stay calm and patient at all times. Do not ride with the FOMO but do the DCA to increase your bitcoin volume in your portfolio.

You can always reinvest, so do not feel bad about selling your BTC since you did not sell it at a loss.  There is a person I knew who had more than 10 BTC and sold it at around 2k then some months later Bitcoin price record its ATH that cycle.  So you are not alone in this kind of experience.

@OP congratulation on successfully purchasing your first BTC.  I hope that you are among the people who have diamond hands that never waver and panic when times Bitcoin price crash.  Bitcoin has always the ability to recover and beat its ATH just we just need patience.

Good job, OP!

Here's to a happy Bitcoin journey together!

Whenever the market is volatile or it seems that a bear market is coming, remember how valuable the potential of your Bitcoin investment is. As long as you remember to hodl, there will be nothing that can stop you.

If you have any questions on your Bitcoin investment or anything crypto-related, do not by shy and ask away on this forum! We will be only too glad to help out!

OP I commend you a lot for taking this bold step of purchasing your first Bitcoin as there is a saying that ''the journey of a thousand miles begins with a single step'' so this experience have unleash your milestone in achieving a greater Bitcoin overview of how your future investment will blossom in the test of time. It's not really easy for many people to buy bitcoins now due to it's high price but regardless you choose to buy and I urge you to use the DCA so that you can be investing same amount of 0.033btc at different interval of time. Kudos to your latest decision on acquiring bitcoins.

It feels nice to be appreciated in your post, so thank you in a way. It took me a while to remember who you were, and I had to briefly go back to your original thread. I'm glad that you actually went ahead and acquired your first Bitcoin, and it's a decent purchase as well, at approximately $1,500. Nice job! It feels good to see you delighted, and I'm hoping this is only the beginning, and eventually you'll end up accumulating more. You can only benefit from this story.

Good luck on your Bitcoin endeavours!

Congratulations you have finally joined Bitcoin. I think this is the best time. When you make a better decision. And it is said" Late is better than never".I think you will be successful in this business too and earn well as you are successful in bolt business. You seem to be business minded and will earn well in bitcoin business too. Be a little cautious and grow the business slowly while gaining knowledge and and insight۔Bitcoin is a fast growing business all over the world. And the new generation is very much interested in it.

For some reason, I was looking for my name too. ;D. Anyways, I really hope that this isn't FOMO. I'm hoping that you will be committed to the Hodl and wouldn't sell when there's FUD. However, welcome to the Hodl family. I said Hodl because not everyone who knows and talks about Bitcoin actually hoards it, and it isn't bad but it's one thing to say that Bitcoin is amazing and another to actually use it as claimed. Adding to that, keep your wallet keys safe as that is the only way you could lose your funds. Don't be too loud about owning Bitcoin because that will attract robbers, etc.

On point! Don't be too loud and nosy about owning bitcoin or any crypto related investment because it will cause you harm especially now that many people are interested in bitcoin, knowing the current status of the coin, people wants to learn and to have it as their investment. I always suggest to become a bitcoin hodler rather than bitcoin trader , as we know that being a trader requires very specific skills that few people possess. If you don't have them, forget it. So choose a safer path which is become a hodler.

Congratulations? I guess. :)

You bought ~$1400 worth of Bitcoin through an exchange now on Electrum. I mean what can we say about that? Just take care of your Bitcoins, and if possible, continue buying since you have a business, take a percentage of your profit there and buy different assets, not only Bitcoin. It's always good to see users here starting their investing journey and buying cryptocurrencies.

As for me, I'm continuing to accumulate Bitcoin and other assets in preparation for the upcoming bull run. I know it's still months of even a year away, but still better to invest now than never invest at all. take care of your coins, and if possible, don't just focus on Bitcoin, but buy some altcoins as well. Take note that altcoins tend to move higher than Bitcoin during the bull run. :)

Welcome to the club buddy, make sure you hold your coins in a safe manner and don't get baited when signs of bear market appears.

But you don't have to regret it (lost opportunity to buy bitcoin at a cheaper price).

The best time ("to buy some Bitcoin") is when you have just bought. Don't try to catch this best time.
Congratulations on your first (Bitcoin) purchase. Sincerely.
Once you start, you won't be able to stop. :)
This is not difficult to do once you try and understand it once. It only seems like this the first time.

The main thing is to take precautions to ensure the security of not only Electrum wallet, but also the entire OS of your device. Better yet, study the relevant topics and discussions on the forum to avoid compromising the contents of your wallet.

Just remember that the names above do not bear any financial or other responsibility for the consequences of your actions. :)

You should not rush into investments and decisions should be made carefully and based on your specific case and nuances.

First of all, congratulations on your first investment. The investment you make will be the first step on your Bitcoin journey. Investing around $1.4k to $1.5k is huge as a first investment, you are brave enough to risk much money, and it will surely bring you a good profit when the bull run comes. A piece of advice from me, don't let yourself be affected by the news/FUD that may come in the future. We're still a few months or years away from the next halving, negative news about Bitcoin will come, and nothing to do to avoid that but to continue to keep your holdings.

That is true, a new person joining this type of stuff is great and that should be something that would benefit everyone but that doesn't mean that we can't really end up with a greater return all that easy, so when someone manages to achieve something like that it should be something that would be all quite important in the end, we should definitely consider these type of increases in people who are investing into bitcoin as a great sign, it proves that the world is considering the situation all that much better and definitely something that would benefit everyone without a doubt.

However, that doesn't mean that you are going to end up with a return that should be big right away, it may take some time to get a bigger return like what you expect, so all these new people should be aware of that. I do fill with joy seeing all these newcomers, I have been here for quite some time, and seen many join after me and every single one of them made me super happy.

Welcome to the club then! Been a BTC holder since 2022 during the time the price was just between $19k to $23k and I am glad to hold it until today and am into profits. It’s probably my best time that I’ve bought Bitcoin after missing a lot years ago due to ignorance and focusing only on short and mid-term alts (and shitcoins too).

As long you are thinking long term, understanding the risks and just fine doing DCA with an amount that you can afford to lose, then you are good to go. We’re in a bull run and the momentum keeps going.

Better late than never. Hopefully the uptrend keeps going for all of us Bitcoiners! LFG!

OP only shows the proof that he has started at the end of this year with a pretty strong and large confidence. But on the one hand I also agree with your advice that the OP does not need to show its Bitcoin balance to everyone excessively because it is the possibility of giving birth to a worse thing for him if the OP does not maintain the key to his wallet very well or the stock exchange he uses it . Because if the OP wants to invest in the long run, of course he must also understand how it is called Hodl on Bitcoin.

Besides Hodler, it can be a safer choice for investors and beginners who have just started as in the OP example. Not too publishing Bitcoin balance must also be considered important by the OP even though for now I will also not consider it wrong because he just started, but for the future when the OP has collected more bitcoin in his wallet, the OP needs to consider it so that he can be very safe from Things he doesn't want. One of them is to be the target of fraudsters when the balance is more and more, so stay calm and do not need to show it excessively.

Congratulations buddy it's a dream to the all crypto lover's for invest in bitcoin. It's a dream of new investors. We all know that the fast investment is not easy for the new investors. They have to thik they have to learn thay have to prepare their mentality for taking risk. You pass all the staples the next investment's is not that much hard for you. Because you pass all the staples easyly when people stuck.

First of all, congratulations on making your first Bitcoin purchase. Buying your first Bitcoin will be a great experience for you especially in these days when the market is very active and volatile because you can learn whether to act by controlling your emotions or not in such active and volatile market conditions. Additionally, based on the screenshot, I have a suggestion for you:

Although the investment amount varies from person to person, I think this amount is not too low especially for the first cryptocurrency investment. For this reason, I will recommend you to create a cold or hot Bitcoin wallet for yourself and store your current/future Bitcoin savings there.

I congratulate you on the purchase of your first Bitcoin! This is obviously the begining of your investment in the digital space, as you grow, you will notice more avenues to invest and it will also expose you to most of the events in the space.

Try to make it a constant thing to invest in digital assets, its never a waste and it exposes you to a whole lot of possibilities.

Congratulations on the purchase, I do hope that you're one of those people are going to commit to what they're planning to do because if you're planning to hodl, it's going to be up to you if it's a rough ride or a smooth ride because there will be times in the market that the price you're seeing isn't favorable and you feel like you're panicking and you want to get out to cut your losses, that's one of the times that's going to decide if you're choosing what ride in your bitcoin journey you're going to be in. I do hope that you go for the smooth ride because that's literally the easiest way, just buy bitcoin and hodl and forget about it, if there's a FUD, don't think about it.

If your belief here is not that strong, you can easily be disappointed if the market is not as what you expect.
But since the OP already bought some, he will be more attentive with the market as well as this community in general.
Panic wont do any good if in case he will see the price going down a lil bit from his buying price.

Yeah, sending your Bitcoin into your own personal wallet is the best choice as those exchange's wallet isn't safe because they can have any rules anytime. Currently Bitcoin fees are still low and you can easily send those Bitcoin into your own personal wallet but you should be careful during creation of your personal wallet.

I would recommend you to completely format your drives and then install a fresh copy of either Linux that's the safest operating system or Windows which ever you prefer. Once it's fully install then download Electrum and install it and then create your wallet and save your seed phrase as well your private key. Once you successfully deposit your Bitcoin into your own personal wallet then you should disconnect the system from internet where you installed Electrum for best security.

It's great to see you been motivated by members of this forum, that's great but my main concern now is your security smarteness, are you capable of keeping your Bitcoin in a non-custodial wallet all by yourself? Have you done the rightful research on the right wallets to use? It will be a shame to spend a lot on Bitcoin investments only to watch your wallet get rug pulled by scammers. So I advice you to trend careful from here on, make sure you use a better Bitcoin wallet to store you Bitcoin.

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What I always advice newbies to do first before buying Bitcoin is to do research on how to keep their Bitcoin safe and depending on how much money they have they should always consider a hardware wallet first, Electrum wallet is a good choice if they don't have the money, but seriously if you can afford to spend money on Bitcoin you should really consider a hardware wallet.

It gives me joy seeing that, you are growing from learning about Bitcoin to buying some set of Satoshi. Its a good start in your accumulation journey, I just hope you continue us DCA to accumulate for now, so that your accumulation will not bring any sudden and obvious change to your financial activity. Using electrum wallet is the best option for safe keeping your coins, I'll also  want you to keep you private key and your mnemonic seed in a safe, like a water proof and a fire prove safe so that in times of emergencies, like natural disasters your coins would still be safe.

  Yes, that's right, as long as he always updates his electrum from time to time when it notifies his apps on the desktop. He also took a good step to start DCA in Bitcoin. If the source of income that he gets monthly is large and it is more than his expenses, then I think that is fine.

    If so, it would be good to continue with that and not sell until there is no bull run taking place, so that he can make a big profit in the future, of course.

Glad you are now involved in our crazy world OP. Now you’ve got started investing in Bitcoin you won't want to stop. Once you go down the rabbit hole you won’t want to come back up. Keep buying regularly to protect yourself against inflation & government control. Self sovereignty is the way forward.

Welcome onboard brother. I know how you feel on your first Bitcoin. There is this euphoria feeling and i can relate with that. By now i think you may have made your decision if you want to be a trader or investor. I am saying this because it is good you know which side your entering as there are advantages and disadvantages in each side. Both of them are risky and you need to be prepared to bear the risks that are involved. Goodluck to this journey

I am always happy to see people join the crypto world, don't regret it op for not investing early as you ones planned it, sometimes, things change and most time it changes for good and still bad but this is a good one as you have taken your decision to invest into Bitcoin now.
To me, I don't think anytime is late for an investor to join bit hard investment. So, congratulations on your very first purchase of Bitcoin as it is not a small amount you start with.
However it is safer to start with an amount of money that will not affect you in the future to come, as you can make use of the DCAing strategy, it will help you to maintain a particular standard of amount that you can be able to buy Bitcoin weekly or monthly as long as it will not affect you.

@Makus
@Darker45
@tabas
@LogitechMouse
@The Cryptovator
@odohu

It wasn't an easy task to invest in Bitcoin as it was my first time to deal with anything that had to do with cryptocurrencies. I have been hearing about Bitcoin and other cryptocurrencies, but back then I didn't put much interest in them. I wish I had invested then when I heard about Bitcoin on the very first day.

However, I believe this is just a start. That is why I have invested over 1.7 million naira in Bitcoin. With time, I will add more money to my investment and I have promised myself to hold my coins for a long term without selling a piece of them.

The advice of everyone on this forum has helped me as I have been benefiting a little. I haven't benefitted anything from Bitcoin yet, but I have gained some knowledge about cryptocurrency and how I can get as much as I want, only if I hold on for the long term. Thanks to everyone for your advice.

I'm happy for you on this bold step and I say congratulations. You have put to practice òur discussion in various threads regarding Bitcoin accumulation especially now that price is still very low.

I will like to know if you are adopting the DCA method that @JayJuanGee did excellent job at explaining or this is just a one off buy pending when you also have more funds. Personally, I have been using the former and the results have been incredible. 

I'm also happy when seeing some one have invested in Bitcoin and get first experienced how excited become investor of bitcoin, congrats OP for the first time you invested in bitcoin and I think is huge amount because my first investing under $50. You have smart ideas when profitable earn from business use for accumulating in bitcoin will give an opportunity with much profitable earn the future how bitcoin price keep increasing up in the future.
Both your business as bolt business and investing will be passive income every time, you can comparison with the early month invested in bitcoin and current price have been up maybe you earned few percent profitable than hold money in the bank without get benefit with increasing values yet.

That's some huge amount you started with and a really bold step, congratulations on your purchase and although the market have started looking bullish, it's still not a bad time to buy because there is hope that the price will pump up even further and if you continue the purchase and hold it till the next ATH then i think everyone would agree that your profit would be tangible enough for you to at least sell off a portion of the investment.

Op ones again congratulation on your accumulation journey, I can see that you have topped up your first accumulation to a more advanced level, that Is a great step you took back there ... 1.7 million naira is a huge sum of money even if it is not close to half of a bitcoin, but I believe some day you would arrive there, it gives me joy knowing that you have learnt enough and have started putting those learning into practice, not every person have this courage to buy bitcoin at this level. Just as JayJuangee would always advise that you start your bitcoin accumulation as soon as possible, the regret you have should be a thing of the past and you should focus on the future by, becoming more aggressive in your accumulation.

No, I think the very moment you converted your naira savings to Bitcoin you've already benefited from it. The benefit one can get from Bitcoin isn't just more money. That's probably what's running in the minds of the majority who get into Bitcoin, but that's not just it. Bitcoin is much more important than its fiat equivalent. It's funny but true that many of us believe and preach that Bitcoin is one way to escape the decaying fiat but the reality is that the main motive has always been to accumulate more fiat and Bitcoin is just a great tool for it.

A huge congrats to Op as well. Building wealth during this time is no joke life alone entails a variety of duties. Despite this, Op remained resolute in his pursuit of building wealth in order to achieve his intended outcome. Additionally, putting in such a large sum of money demonstrates his seriousness and sincere desire for a high return. Every trip begins with a single step, which is ideally the first of many that will come. Op has already drafted out how he wants everything to go because he does not want to loose the money he has invested one of the purpose of investment is to make money. Starting your bitcoin journey at earliest moment can be the best decision to have ever made .

Congratulations on your first bitcoin investment. Know that your decision to finally purchase bitcoin is one of the best decisions you have ever made, and I should say this is not the first and last, as opportunities will keep knocking on your door so you can continue buying bitcoin and continue with DCA to maximize your bitcoin investment. While bitcoin is a high-risk asset, so learn to invest in it with caution.

I know it's hard to save this time to finally purchase bitcoin due to high inflation, but if you are really determined on your goal, you will exert a lot of efforts to achieve it and make it real.

The positive aspect of your post is that you received your first Bitcoin, which is commendable. I want to also hear from you in a few years when you will share the story of how the $1,445 invested in bitcoin when it was at the price of $43,491 has made you rich in the future.

My advice to you as of now is to stick to hodling and apply a DCA strategy while investing in bitcoin. Remember that with bitcoin, not with altcoins, the future is always bright.

“The best moment to buy Bitcoin was yesterday.
The second best moment to buy Bitcoin is now.”

Congratulations on your investment.
You are now part of us bitcoiner.
Soon you will realize how early you bought.
You did the first step toward financial sovereignty, and many other will follow!

Exactly congratulations. I don't know when the time will be, investing in Bitcoin really needs to start. That is one of the best investments in Christ, especially because after all we have seen the cycle they have gone through since now. and the nominal you use is very good. It's just a matter of trying to make a commitment to continue holding onto these coins and not panic no matter what happens to the people.

Unfortunately some people may not appreciate it and think that the risk taken is too high. but for those of us who believe in Bitcoin and are able to choose ourselves for the future then this is a very good path to walk.

This is already enough to answer or explain why buying Bitcoin or be interested in Bitcoin is not late or in short, there's no time as being late. I definitely agree with this even though I said it myself and many people are also saying it to others. I think this may be included or considered as the third best moment to buy Bitcoin is tomorrow or it could be in the future. Well, It's because some people doesn't have money for now and are waiting for their money like salary or other means of earning money.

Congratulations on your first bitcoin purchase. It is not easy to invest so much in bitcoin amidst the nature of economic in the country. Procrastination have killed many peoples dream of investing in bitcoin and they up not buying at all and regretting why they didn’t buy early when the price was lower. With this amount you’ve invested, you don’t need to bother too much about investment again, this will give you a lot of profit at bull run. If you have more you can invest more but if it was me I will be contended for now with the investment done so far.

Exactly, many newbies in investing in bitcoin or wanting to invest in bitcoin become too wary about whether they are too late or if it is too late for them to invest as the price of bitcoin is high. Their mindset is like they want to buy 1 BTC right away, which is not a good idea. If you can't buy 1 bitcoin, then buy a fraction of bitcoin, or what we call "satoshi." There are a lot of ways to earn bitcoin through the use of its fraction. Newbies don't have to buy 1 BTC right away; you can buy based on your capabilities. So it's never too late to invest in bitcoin. Do trading in that way, and you can grow your bitcoin if you have the necessary knowledge, skills, and experience in trading. And remember, bitcoin is a long-term investment, so newbies in bitcoin should be ready for a long wait.

Your journey begins. Remember, you need to have clear goals to navigate your Bitcoin journey and decide your next steps. Having goals is crucial because they shape your decisions and actions to reach your targets. If your only aim is to get rich solely through Bitcoin investments, you might miss out on other promising opportunities.

I hope your business thrives for a long time, allowing you to buy more Bitcoin and start monitoring the market movements towards ETFs and halving.

It's time to test your hand strength, buddy. Are you a strong hodler or just someone caught up in FOMO?

Congratulations! It's nice that you made this thread about your very first purchase, if I were you I would actually save a PDF copy, in a few years is going to be a great memory! Unfortunately when I made my first purchase I didn't know yet about this forum so I never made a thread about it. And my advice is to keep following this forum, bitcoin, and also the financial world, it'll really change your life and the way you see things.

Congratulations, it's really profitable for you to invest in Bitcoin. You will really profit amazingly from the way the price of Bitcoin is increasing.Of course it is a long term investment and never get disappointed in Bitcoin investment. You will definitely benefit. The amount of bitcoins you have invested is too much for me. So you must be careful with the wallet not your keys and not your coins.

You have done well, congratulations on your first purchase even though you had to change your original plans. Now that some of your money has been saved in Bitcoin, this experience will be a precursor to buying more Bitcoin when you have money ready to invest. Storing Bitcoin in Electrum or a similar wallet where you can control the private key or give you full ownership of your assets needs to be prioritized because you have to look after it well. Always remember the message conveyed by the seniors in the forum, not your keys, not your assets.

Better late than never.
0.033 is already a nice amount these days, not everybody has 1400$ in crypto.

You can see that as a start only and hopefully some day you can call yourself the proud own of 100% of a bitcoin.

The road seems to be long but we have time.

What's the long term target? You have anything in mind?

Congratulations on the purchase of your first Bitcoin. It's always beautiful seeing new entrants taking a bold and decisive step like this. What you're hodling is a gem, so hoard it, guide it, treasure it and don't be in a hurrying to sell it. If you've spare cash, you can add more to your bag by doing Dollar Cost Averaging (DCA). Remember, Bitcoin investment is long term, so you've to be patient for your investment to yield meaningful reward. Welcome to the club.

Op your starting point in the cryptocurrency journey is very nice. I appreciate your courage and effort to buy at this time of the Price. And I believe you are hodling for a long term and not for short term. And you do well as you immediately transfer them to Electrum wallet for more safety. And as others have said, don't keep only one backup of the seed phrase and at least split them it for like three places so that when you misplaced one you can still have another. With this amount of Bitcoin you have gotten in the next bull market of ATH, you will be one of the new millions in your village.

Congratulations, you have done it and of course it is a great achievement for you. The feeling is different when a new investor invests in Bitcoin after planning to invest for a long time. When I first invested my first investment feeling was different than can ever be explained. If you have invested a large amount of bitcoins, good luck with the investment. You have invested and many will be inspired by your investment to invest again.

First of all, I wanna congratulate you as you are now finally a bitcoin holder and indeed that you are holding a good amount for a new investor.
you have trusted bitcoin that good and surely you will earn that in the next coming years depending how long you are planning to invest and Keep Holding.
as long as you know that  investing is risky and only invest you amount affordable to lose.

I think this initiative of yours will attract more users. As you decided to invest in Bitcoin long ago but could not due to money crunch. If you had bought bitcoin earlier you might have profited more at the moment because we have seen the bitcoin market grow a lot, and it is almost the most ATH currently. If you had bought bitcoins that time you would have profited a lot anyways as a native of ours and to all the seniors knowing about bitcoins and then investing it is really nice to hear. But you must invest in Bitcoin for a long time and invest with patience. I pray for you that you become a successful trader and hold on to Bitcoin for a long time, it will surely lead you to success.

Hahaha...It's not a must we make a thread about our first Bitcoin on BTCt unless we want to show off or attract attention for merits. In my cryptocurrency journey so far, what've learned that is also crucial to Bitcoin itself is privacy, even if you do not want to anonymize it, privacy is important. For instance, this is the way I view it, if I deposited $500 in my newly opened bank account, why should I be broadcasting it? If others will show off, I don't think it is wise for security and privacy concerns. So not doing it at that time even saved you as far as I am concerned because the less people know about you, the better when it comes to money.

As for the copy, though you took it too far, yet I believe he can always fetch it if he wants. I don't think the history of such transactions often disappears from the wallet they make the transaction. But for me, I wouldn't even let it get to that, the reason is that this is not a big deal. As a matter of fact, I have not seen investors taking their investments personally like that, not even when bought at a huge price. After all, it's a means to make money nothing more. Lastly, I join you and others in congratulating the OP if the narration above is real.I hope he can add more Bitcoins and quickly save the money in an Electrum wallet has said.

I agree with you on what you said but some people don't really know how to keep such achievement to themselves and I believe that since nobody knows who is who on this Forum just username, that's why the OP decided to make it look like a public announcement which it is.
Fine is good to share good news but the way we take it sometimes is not how is suppose to be.
To be frank with you, I too would like to get my first BTC and start up something as the OP did, is everyone's dream especially those who are new in Bitcointalk to get their first BTC but not everyone would make a public announcement about it, safety first.

A lot of new crypto currency investors are always happy even if they haven't started making any profits yet, However I am very much excited for the OP as he has taken a bold step to invest into Bitcoin the amount that he can afford to lose.
My first purchase was not UpTo this amount the OP bought and that's why I am very much excited for him, although there are still other investors here that have more that what the op is possessing right now.

Congrats on your purchase of your Bitcoin, this amount is still huge and I guess we/I recommend to buy a hardware wallet it's just a small amount to you its for your additional security of course, this market ride you will experience can be mix emotions due to market conditions, and I guess ideal if you set plan until when you will hold the assets and take profit so you can enjoy your investment, lets all wait and see the outcome of the market this coming 2024!.

Congratulations on your first Bitcoin purchase. Generally we know that to pass a thousand miles one has to start with one step. You have successfully done that. Moreover you are using Electrum wallet to hold bitcoins for a long time which is a good and safe move. On the one hand you benefit from holding Bitcoins for the long term while also ensuring maximum security of your assets. But since you are still a newbie, you should take time to learn everything better so that you can take better steps in Bitcoin holdings in the future.

Your points are good and I always try my best not to judge all people the same way, but you know what, most of these things are not real, it's just that they do this for a main purpose, there are many of them, it's never new. I didn't give such a thought in the first place and I only tried to remind you of the core purpose of Bitcoin itself from the onset, not the way people are turning it to be these days. "Safety/privacy" first.

This is why I see it mostly out of maturity (if real) seeing people showing off the amount of Bitcoin they've purchased here, why? Also, one thing that is peculiar to the people who do this is that a lot of people give them merit for it. They now follow suit, which is the only reason I believe they broadcast this kind of private transaction, nothing else.

Nonetheless, it is a very good avenue to help one's alt grow fast.

Yeah! others cannot get enough courage to make their first step into investing in bitcoins because they are scared to lose their money because of what they read on social media and some posts that are hostile against bitcoins. Most likely they were influenced by those others who have no money to invest to begin with and they are just talking negatively about bitcoins. that's why when it comes to this, you need to take your time do your own research, and step out there to do and get your first bitcoins.

I think that is fine for some people not to have enough courage to invest, I mean for sure there would be a reason why they don't dare to invest like they are struggling financially, lack of knowledge, don't know how to start yet, etc. They can take their time to build up their courage to invest cause if you are rushing cause you feel you are being left behind like FOMO, it would just have a negative outcome. That is why it would be better to do your research than surf the web with anyone's opinion due to it could cause you unwise decision-making by FOMO.

Maybe the OP was also very inspired by the names mentioned above and started running his investments properly and correctly. Yes. This requires strong intentions, discipline, patience and not rushing, plus continuing to update market developments so that the results are maximum. As a reminder, I really agree with what you said if the OP doesn't make that decision.

Congratulations for your first time  buying Bitcoin. Just hold it for a long time. To keep your bitcoins safe, try to keep them in a hardware wallet if possible. And if hardware wallet is not possible then keep your seed code with important care. Hope bull run will come soon and you can make good profit.

Investment especially during these days is a must especially if you want to survive and actually live quite comfortable in the future. With that amount, you actually have a pretty decent start.
The only problem is that what you are going to do with that investment, do you want to DCA or trying something else? There are so much possibilities you can do with that, so I hope that you are all prepared with any outcomes.

Best of luck.

Congratulations on your first bitcoin purchase. If you keep at it, you're definitely going to be in for the great things that crypto is able to offer people. What I could suggest now that you're able to start off your crypto journey, you might wanna work on the consistency part of the spectrum. It's good enough that you're able to invest that good amount of bitcoin this early in your journey, but what would make this situation even better is if you're able to invest crypto on a consistent manner, your investment will eventually accumulate and along with the profits, you're looking at a self-sustaining passive income stream that would support you when things go well and would help you out to survive when things are in the red.

I know for some this might not be possible given their financial circumstances but I say that if you're able to spend as much as 10 dollars on a netflix subscription or whatever the fuck you're sinking your hours in and money today, you would be able to spare at least 10 dollars to secure your financial future.

Exactly, I believe that if not for those name that he mentioned he wouldn't have purchased his first Bitcoin now, if not for them I think that the OP would have not buy up till this moment because he didn't do as he planned at the time he created this thread https://bitcointalk.org/index.php?topic=5469290.msg62948934#msg62948934 but what really matters now is that the op has finally purchased Bitcoin and also move them to an electrum Bitcoin wallet, that's what really matters now.
There have been so many individuals here that have not make such move and they are still not ready to buy even a single satoshi.

Congratulations for that and you are in the Bitcoin family at this time because there are still many people out there who do not have the opportunity to run investment. There is no detailed explanation of how you buy first for Bitcoin because what I read you changed the initial plan about the DCA pattern. If you have a large amount of capital then wait for the right moment to buy because the moment of decline will usually provide a large amount when you have the capital to buy more bitcoin.

After that, just make a long -term investment plan by storing bitcoin in a much safer wallet like the electrum that you say here. Everyone will try to take advantage of any conditions to buy bitcoin even though their capital is small but will not stop their intention to buy, because we know that bitcoin is one way to reach the stage of financial freedom.

You have taken the first step. But never think that this journey will be easy. You will face many ups and downs along the road. Only those who can endure these and stand tall, are those people who will become successful. But don't worry much, I am sure you will learn everything throughout the journey. I should've advised you to use the DCA method to accumulate BTC in this unpredictable market, but as you have already bought it, it is good enough.

Never think that you have invested at the wrong time. As we all know, there are no good or bad times when it comes to Bitcoin investment. The moment you invest in Bitcoin, your willingness to HODL will determine your profits and losses. Everyone knows it and I will say it here again. The longer you HODL Bitcoin, the more profit you can make. Aim for a long-term investment plan with Bitcoin. But if there's an opportunity, you should take that as well.

It is also necessary to provide education on how to do good management for the investment.
Anytime is a good time, but the right time is not because of the numbers, but waiting for the price to be at the bottom support so that you have the opportunity to profit more.

Don't buy because of FOMO because you will only get too high a price.
But if you want to hold back the long term, it will be quite a long journey depending on how high the price target you want to achieve.

Opportunities will exist at any time, it remains only to determine whether the opportunity is suitable for you or not.
But it is necessary to pay attention to what are the risks, do not panic too much when everything drops suddenly.

Congratulations,  for your first attempt in your bitcoin journey, if you really understand bitcoin it will be an investment that you won't regret about it. Firstly you have to know that bitcoin investment is a longtime investment,  so you need to be prepared for this. Never allow the market to be distraction to you, bitcoin is a volatile and you will surely see the price go up and down, going dip it doesn't mean the price will remain dip, it is just the movement of market.

The only opportunity we should take while investing into Bitcoin is to find the opportunity when to sell for the bigger profit. The time you sell your holdings will determine your profit. It is also important to not panic and not become greedy as well. You sell early, you will end up with less profit. Also, if you hold it more than you should have, you will lose that opportunity and end up with less profit in this scenario as well. Instead of a random number, choose a target that you want to make profit from.
Having a fixed target of making profit will help to avoid panic sells and losses because of greed. Never marry your wallet. This is a line I have heard from someone in this forum that I can't quite recall right now but to me, it was great advice. If your profit has reached your target, just sell it. You can reinvest it again. That way we will have no regret.

At first it is a little difficult and confusing, over time you will get used to it and will feel addicted after successfully getting the first results from your investment in Bitcoin. Congratulations on your first investment, you have done well based on what is shown in the picture. I'm sure, you won't be the last person to do it, after you there will be other people around you who will start investing in Bitcoin.
After successfully moving money in the form of Bitcoin, you must keep it safe. Store your Bitcoin in a wallet where you can control the private key, because you can control the Bitcoin whenever you want.

It is not about the amount of money or when someone joins the crypto world, it's the cheer that they get in that makes me happy. There are so many people who cheer to be here, and that makes me super happy, we are talking about a lot of people who just ends up taking a plunge in the bitcoin world.

When someone buys bitcoin and that is something that creates a lot of stress for them, I do not find it anything good, I mean I am glad that they still joined even though they fear the risk, but I am not super cheery about that at all. But, when someone joins bitcoin world and get some, and they are super excited and happy about it? Now that really makes me super happy because they are finally in and they are happy about joining as well.

It was really a good time to get into Bitcoin and it feels good seeing new people join Bitcoin. We might be growing slowly but surely, a lot of people are embracing Bitcoin and that is something to celebrate.

Bitcoin is a great opportunity that many are yet to see or embrace. With buys like this, a lot of people will be motivated to start their Bitcoin journey as well.

this is why you need passion at least for this market for you not to feel so stressed once you put your hard-earned money at stake on this volatile market. if you joined in this investment, supposedly you should know the risks involved and the possible consequences that may happen. because if not, you will indeed feel despair of this market later on, and maybe cursed that you got in here.

hence, as you've seen for some users who got burned and left early, they are saying nasty things towards this market because they don't fully understand what's going on in this market. they thought, once they joined they will be reaping profits after profits without suffering any losses. and that's the reason why they are getting disappointed and so spreading some negative experiences to others, which can give negative notion about this market.

for others who continue their journey, they should at least do one of the following:
- don't stop learning, continue educating yourself by reading related topics on this market
- accept that there may be losses on the way, you are not always in the winning side
- invest what you can afford to lose, a very common piece of advice in any type of investment
- at least do your own due diligence for every coin/token you want to buy
- monitor its market and discard it if you think you can't keep up with their progress

Congratulations mate! I am happy you have your first Bitcoin. 😁 You are now a certified Bitcoin owner and investor! Just keep your private keys or seed phrase safe from prying eyes. As a signature campaign participant I also has Bitcoin investment and it functions like DCA though it is only worth a few dollars but it is better than nothing. 😁

+2 merit to you, this is a really great step you have taken and i remember the encouragement I had when I actually bought mine although it wasn't as massive as this but it was the beginning of a great Bitcoin journey and am glad you have also started yours. I encourage you continue hoarding as much as you can before the bull season comes and we eventually witness a new ATH. But I would just advice to do everything possible to avoid messing with your holdings as many investor started and ended halfway there.

Really sad story there mate,  and I agree with you,  on the fact that if we don't have a large reserve,  it will be hard to hold on to our investment,  just like in your case,  you were lucky to have owned the 2 bitcoins at that time when the price was low,  but then you where forced by situations to sell them off,  but I wish in ops own situation he is able to hold his bitcoin for at least a decades before he sells to take the most out of his investment,  so many,  bitcoin is already too expensive,  but at some points,  we still need to accept the reality that there is need to get in regardless of what the price may be at the time.

So ops have done well to have decided to buy the bitcoin regardless of what the current price may be and what becomes of the future price,  I believe ops have a long-term investment mindset for this since he bought a relatively significant amount of Bitcoin at a go.

Honestly, I was afraid of the risk but when I came to my right senses, I then realized that there is nothing in life that is not about risk (mostly
when one wants to make money but not quick money). That's why I have to zero my mind and risk $1400 worth of 1.7 million in my corrency, at first, I didn't want to buy such a huge amount but as I have zero my mind to risk it, there is no going back (I have risk what I can afford to lose) so there is no going back.
One of the reason why I was afraid to invest was because I was, I don't know if I should say scammed or something, I deposited $2k on stepwork, and I was so frustrated because I invested with what I can not afford to lose.
https://talkimg.com/images/2023/12/23/ItSCj.jpeg
This what keep showing anytime I try to access my account.

Most of the new people still have a large level of anxiety and indeed I agree with what you said because new people sometimes prefer to pay attention and see some speculations made by influencers or those who have been in crypto for longer than taking their own actions and taking action for their first steps so in this case there really needs to be appreciation for anyone who does not talk too much when they are sure they are directly in bitcoin with the provision of learning and research done before.

New people should indeed do brave things for the first step regardless of the price which has now shown an increase when compared to the previous few months but this should still be done because waiting for the decline to occur again I don't think it's the right thing to do at this time because surely it takes longer.
Even if the choice is good, I think it will waste time because what they learn in the end is only theory without daring to jump directly as a form of action from what should have been done from the start.

I guess it's normal for everyone given that they don't have the experience of diving into bitcoin and just only rely on people opinions and speculations. Investing into crypto needs some money and the risk of losing that money is the cause of their anxiety. Though, it can be reduced with a sufficient knowledge about bitcoin and how it performed in the past years.

My advice to newbie is not to listen to those influencers first, I believe that gaining the knowledge by yourself by doing a research is the one that will make you confident enough to make the first move into investing. I can't deny that there's a good influencers out there but from what I am seeing, I think that majority of the influencers I see is just hyping, paid or has no care about there followers. In fact, some of them are just in the crypto space last bull market which makes it insane.

Whoever gave you the advise of buying buying at this time did you well and I’m actually applauding your efforts and I hope they get crowned with success.
I tried converting the rate of BTC to usd as at your purchase day and it seems you bought almost $1500 worth of BTC and that’s a lot of money in my local currency and I want to advise that you try as much as possible to hold for much more longer time and definitely you’ve have more reasons to smile.
Cheers.

who the fuck is step works?

It's certain that OP was inspired to invest in Bitcoin by the member whose name was mentioned. Apart from that, my opinion is also correct, never invest in Bitcoin because of FOMO, the results will definitely not be good, but if OP is a consistent person then I'm sure it will be difficult for him to make a loss, investing in Bitcoin is not difficult, as long as we believe in Bitcoin and target long-term investment, our investment in Bitcoin will not be a loss.
discipline - having a job that supports daily habits - a healthy environment - being patient in investing in bitcoin is something that people who are successful in investing in bitcoin always do.

Well, congrats on your first purchase, for sure it wasn't the best price to buy since the market kinds skyrocketed from around 20k$ but in my opinion, there were no better time to buy Bitcoin, so the best strategy is just to go Dollar Cost Average, buying Bitcoin every week or every month is probably the best strategy since you could easily accumulate Bitcoin and as long as you are going to sell your Bitcoin at a higher market price your always going to make a profit in the end when you are going to sell it, there are also some option or modifications that you could do on your investment like increasing your buying lower or at the just lowering it down vice versa especially if the market price continues to drop, it is a great strategy to increase your buying power so that you could get more volume on your every purchase.

Lastly, the most important thing in investing is the mindset, personally because of cryptocurrency and Bitcoin my mindset has changed when it comes to finances and investing, all of this is just going to waste if your easily going to sell it like you just want to buy something your just gonna sell your Bitcoin i mean that I not really how investments work.

Good job OP! Welcome to bitcoin investment. With bitcoin, you know it's safer and more secured rather than putting your funds into altcoins. Even though the price is quite costly, but once you see your future profits, it's always worth the wait. With bitcoin long term hodling, you know that there are massive profits waiting ahead if you only know how to manage your investment and be more patient to hold for long term.

My piece of advice is that, just continue to be positive with bitcoin regardless of its high volatility. If you have established faith, then rewards will be huge in the future.

Yes, it is clear that newcomers to the Bitcoin space are nervous. But I say that taking action instead of speculating is important. Cryptocurrency like Bitcoin is more than just money; its a way of thinking. People who are new should jump in, but not without thinking. Take action now instead of waiting for a price drop that might never happen. Time spent in the market is more valuable than getting in and out of it at the right time. Experience is just as important as education. Knowing things in theory but not using them in real life is like having a car but no gas; it wont get you very far. Therefore, I say, jump in. Beginnel slowly, keep learning, and let the trip happen. Bitcoin is really growing because people and their finances are changing.

I noticed that we have many members having this same style of making post which might not be real, and you're right with what you said. These days in the Forum is like some people have to do whatever it takes to get that attention, recognition and to top it all the merit. People can go as far as to lie to get that merit or whatever their aim is.
From what you said, I don't really believe some of these achievement we see here on the Forum. Having that amount of BTC and showing it can be true but the question to the OP is "are you the owner or you just saw it somewhere and decide to let us take a look and make it look like it's yours".
Is really hard to tell who's saying the truth on the Forum.

Wow this is huge and congratulations on your first bitcoin! Keep holding and stacking and always hold the long term growth vision in mind. It is quite a roller coaster to be a bitcoiner, it won't be easy but it'll be worth it!

I know how it must have felt buying your first ever, that feeling is more than highest. I could remember when I also bought my first set of satoshi, all guide where given to me by this forum members when I came newly, they the best I've come to see so far when it comes to help, advise and guide. They don't get paid for it but yet they give the best quality advise. However op, congratulations ones more, hope you have already started using DCA? In as much as we are in a season of celebration, it's always good never to skip your DCA for the day, week or month. Keep holding and accumulate more.

Merry Christmas

Yeah, enjoy the roller coaster because this is where emotions are going to fill him but don't be moved when he's caught with that.
Congrats to OP and do more accumulation in time because when the halving comes, it's worth it that you've decided to start.

That's a pretty big initial purchase OP congratulations on that but of course you also have to know that this is just the first step for you because the next step is arguably more difficult because after all, maintaining will be very much more difficult than selling and buying.
So in this case when you make a big purchase now it would be great if you can hold it for a certain period of time and it would be even better if you try to add little by little to your portfolio.

One more thing that I think is quite important because if you look at the screenshots that you shared it comes from the exchange (binance) so in this case it would be better if indeed you want to be there for a longer period of time then you should move your assets because I think it is not too safe if too long to keep bitcoin on the exchange and it would be better to store in a wallet that feels safe for yourself.

Now the crowd was in the mind of holding,because the price of the bitcoin at the bull run.The trader who hold the bitcoin at the bull run can able to win the more dollars at the end.Since the year was beginning in few days.We need to hold the coin,So we can hold at the bull run was the brilliant move in the bull run.But many traders was behave like selling on demand at any price.They don’t know the value of bitcoin because they getting the bitcoin from the weekly payments and carelessness should be avoided.

So the bitcoin holding trader should hold like the bitcoin trader,because trading on the market should be deep analysis.So the trader only sell at the maximum value,they never sell their valuable assets at the small bull run in the market.Hold the bitcoin till next year for the more profit.

You seem to be referring to some kind of need or wiseness to invest into shticoins... @wallet4bitcoin, and surely that is not true.  It is probably dumb to be wasting time to be buying any  shitcoins at all, and if you have some kind of a gambling tendency, then maybe limit your investing into shitcoins to no more than 10% the size of your bitcoin holdings.. and that might even be too much.


To me, it sounds like OP decided to perform some kind of a lump sum and then to consider continuing to invest more into bitcoin in the future as his cashflow situation might permit.

Personally, I have nothing against lump sum investing into bitcoin from the start, yet the better practice would be to perhaps lump sum ONLY around 1/2 of the money that is immediately available, and save the other half for buying on dips, so in this case if there was around $1,400 spent on the first BTC purchase, then perhaps there would be another $1,400 for buying at various points on the way down if the BTC price were to go down, such as buy an additional $300 every time the price goes down $1,500 starting at $40,500 (or something like that).  It appears that OP made this particular purchase at around the highest price that the BTC has been in the last 20 months or so, but that still does not mean that the BTC price will correct or that the BTC price won't continue to go up from here.

Another thing that I would consider is setting up another ability to supplement the already purchase by setting up a DCA at around $50 per week for however long that it takes to reach whatever level of investment that is being targeted (whether that takes 4-10 years or longer or some other timeline that OP might have in mind), and maybe figuring out if there might be ways to increase the DCA amount by increasing income and/or decreasing expenses.   And, I am referring to $50 per week based on the amount that was already invested, since after 6 months, the DCA amount $50 per week would add up to nearly equal to the amount already invested in the $1,400 lump sum.  

In regards to the moving of the funds to a private wallet, I would not necessarily move $50 per week, but I would probably let it get up to around $500 to $1k before I would transfer it to a private wallet, since our latest in fees shows that it is better to attempt to practice better UTXO hygiene, and I think that it is better to keep UTXOs to $500 to $1k or more rather than having a bunch of small UTXOs.

As far as a private hardwarewallet.. sure there are ways to make electrum secure, but I am still nervous about those kinds of computer based wallets, and I am thinking that if you are able to get your hands on a decent hardware wallet (not talking about Ledger), then once your BTC are valued over $1k (which yours already are) then it seems to be necessary to start considering getting a hardware wallet.. and the more your value goes up, probably the more it is justified to consider some kind of hardware wallet.  This site is pretty decent in rating the hardware wallets, and this Athena site (https://www.athena-alpha.com/crypto-wallets/) has a broader list of hardware wallet features and shows their methodology (https://www.athena-alpha.com/crypto-wallets/rating-methodology/) for rating wallets. Bitcoinhole (https://thebitcoinhole.com/hardware-wallets) has a lot of wallet details too.

No one can tell anyone else how to invest, but we can tell each other what we believe to be good and/or better practices, and we can agree to disagree regarding if any kinds of supplemental practices are necessary in terms of ways to accumulate BTC, whether referring to a brand new bitcoiner or someone who has been into bitcoin for a while, and the case of the brand new bitcoiner is a bit more clear of a case, because he is starting from zero, but still we do not know his various particulars such as his timeline or his risk tolerance or his cashflow and expenses or if he might have some other investments, besides bitcoin.

Edit: I am just referring to your opening post in your earlier thread in which you announced that you were planning to DCA $50 per month, which would have had been right around 16% of your $300 per month salary/income.  So in other words, if this whole thing is true that you had $1,450 saved up so that you would be able to lump sum invest, you likely overinvested into bitcoin (which is largely gambling) because you likely seem to have no plan for down (besides HODL, perhaps), and you may well take more than 2 years to be able to match the amount that you already lump sum invested if you were to still be able to invest $50 per month.. and your numbers don't even really add up to appear as a very reasonable way to invest into bitcoin.... and then why would there even be a need to create a new thread in order to talk about this actual lump sum purchase rather than just posting in the original thread


How are you going to know it is a ATH?  You mean selling at $69k?  That would be dumb.

Can you imagine working up to have a long term investment in bitcoin and then you sell the next time that bitcoin reaches an ATH, and then you are left with nothing but an extra 2x in fiat...

Consider the people who sold their whole BTC stash at various previous ATHs of $1,163 in early 2017 or at $20k in late 2020?.. sure this particular time, in 2022, the BTC price did correct back below $20k again, but that seemed to have had been a bit of a fluke, and still had to wait a couple of years, and seems like selling way too early to have sold in late 2020 merely because BTC price got up to $20k again... but yeah, guys can do what they like, even dumb things of selling too much BTC too early and then not having any certain places in which to buy back their BTC at a lower price, if that were to be the goals of someone who might have had already decided to engage in long term accumulation of BTC...then why sell in order to accumulate BTC, unless you are a gambler and you enjoy purposefully putting yourself through the stress of no longer being in BTC accumulation mode.


The point still remains to buy as much bitcoin as you can as soon as you can, and the mere fact that you start to buy bitcoin does not mean that you are going to have enough, and having enough is a work in progress that you are ONLY going to reach if you start to buy and you are fairly persistent, consistent, regular and aggressive about it.. as aggressive as you are able to be given your personal circumstances, and if you do not earn any money and you are a student, then you might really struggle to buy bitcoin, and you might be disadvantaged by your delaying in the buying of bitcoin, even though I do agree with idea of investing in yourself and learning how to learn and the kinds of things that can be learned in schools (or universities), even though there may also be ways to do both.. be a student and also to figure out ways to buy and/or earn bitcoin...and so yeah some of those are personal choices that might relate to where anyone happens to be at in the current stage of their life.


You said a lot of smart things about bitcoin @Assface16678, until you mentioned trading.

Trading is not necessary to learn or to practice when it comes to investing time, money and energies into bitcoin.  Fuck trading.  It is not necessary, even if some folks might choose to engage in such trading/gambling practices, which might work against their abilities to actually accumulate bitcoin in a meaningful, consistent, persistent and aggressive way (be as aggressive as you are able to be without recking yourself).


It is not necessary to own a whole bitcoin.

Each person should invest in accordance with his abilities, and sure attempt to get as many bitcoin as you are able to get, up to a point... so OP has gotten to 3.3 million satoshis, and the next goal might be to get to 10 million satoshis, and then the next goal to get to 21 million satoshis, and then maybe to half of a bitcoin, etc etc etc.. and some people might not be able to reach a whole bitcoin, even if they started investing at $100 per week, they would invest $5,200 after a year and $52k after 10 years, and that still might not add up to a whole bitcoin.  Point is to do what you can, and sure be aggressive if you are able to be, and you likely need to aspire in stages and goals that are realistic and reachable.

I always find wisdom in your writings, no wonder I don't get bored while reading your lengthy posts. I have come arose some person here in this forum that thinks, the main purpose of investment is achieved when you have at least 1full coin, rather than having smaller denominations of that coin. This is the one of the reason we find people investing in altcoins rather than Bitcoin, they think bitcoin investment is already too expensive to accumulate a whole bitcoin. However they are wrong but if accumulating a whole bitcoin is what they want, then they need to become more aggressive than ever, but they should also consider investing based on their financial income and earnings, so that they'll not do more than their capacity, then latter fall back to their investment.

Thanks Mr JayJuanGee , you're #my biggest Inspiration.

Getting exposure is not when you're sleeping under a roof with fire on it, thay is obviously risk taking, considering what is as devastating as shitcoins for an investment is nothing but taking risk, if we are Investing, we must know that bitcoin is the cryptocurrency that we can have rest of mind in with it's Investment that will create no FOMO, the funny thing we have to remind ourselves about is that none of these shitcoins will first appear to is as being shit, they will make some weird performance to trick us for their short time profitability and then we make an investment in them.


You guys were all right, it's not everyone making an investment thst may have to come come onboard to share their achievement to the whole world just for making bitcoin Investment, instead i think this is another stage to pick up the challenge in learning many things required to Know for an investor, taking advantage in learning, knowing the security measures to take and what kind of wallets are best recommendable for their use, investing is not the end to the road map of having a successful acheivements will bitcoin, instead OP is just getting started.

Imagine you are holding more than how much i gather over the years  ;D well   i must 
admit that I have spent almost every coins I hold when pandemic happens when the world stops
and the work ends for couple of years and i have nothing to spend but my Holdings and that
sadden me though yes I am gathering much now as i started gaining again in the last 6 months.

yeah she is someone that we need to congratulate because as a starter she already have
that huge amount more than how much many of us has now lol.

Anyone with a gambling tendency who's also investing in shitcoins is practically double his risks because shitcoins are no different with gambling... And I'll prefer sticking to actually gambling only after investing in bitcoin which is the real deal, instead of adding shitcoins in spite of the % used addition to the gambling risks increasing your potential losses.

Newbies should know that there is definitely no competition with the owning of bitcoin as it can only lead to an unhealthy competition with investor's investing beyond what they can afford to lose because they are racing to meet up with someone else they are competing against whereas their income flow is nothing compared to who they might be racing with. AFAIK, the only competition that exists with bitcoin investors is the competition against any potential challenges that may arise along the way to hamper the investor's initial long term investment plan forcing to sell at a loss. That where your competition lies and one potent way to win is having multiple income source stead of a single.

For me, there is no difference between investing in shitcoins and gambling; they both carry the same level of risk. There are those who excel at both gambling and investing in shitcoins. But, if I had to pick, I would rather invest in shitcoins than gamble since you can reduce risk by having a strategy that increases the probability of success. If the investor is a novice, I recommend that they avoid shitcoins since they will end up liquidating their assets.

The journey of how you started your bitcoin journey, is supposed to serve as an inspiration to those who have still not gotten the encouragement to invest in bitcoin up till this moment, rather they prefer to procrastinate instead. Ignoring the fact that the longer people put off buying bitcoin, the more probable it is that they will lose an excellent opportunity to invest in bitcoin at a discount. That's by the way. You did noble to purchase your first Bitcoin. It is only a wise man that saves for the latter rain and that's what you did. Congrats to you for having your first bitcoin. You have just joined the league of bitcoin holders.

Yes.. we should try to be realistic and also appreciate that bitcoin is amongst the best of investments, if not the best investment, that anyone can make, even if they might never be able to achieve a whole bitcoin, which truly is an arbitrary amount.. since the unit amount is fixed and bitcoin is quite valuable, even though many earlier adopters likely did not realize the extent to which seemingly small amounts of bitcoin were going to end up having very large dollar prices.

So yeah, even someone who is new to bitcoin and who has a pretty decent ability to purchase between $100 to $200 per week in bitcoin, may well not even be able to achieve reaching 1 bitcoin in 5 to 10 years, and surely we cannot know for sure what the BTC price will do, but a person investing $100 to $200 per week for 10 years would have had invested $52k to $104k into bitcoin over those 10 years, and I am suspecting that even the person who invested at the higher $200 per week, might not be able to achieve a whole bitcoin in 10 years... and yes, we cannot know for sure, but the mere fact that one might not be able to achieve a whole bitcoin should not take away from the fact that each person who does not have any bitcoin (or has a low amount of bitcoin) should strive to be as aggressive as he is able to be in regards to accumulating bitcoin, but not so aggressive as to over do it or to reck himself because he failed/refused to establish and maintain an emergency fund... and so each person can figure out how much he is able to spend in order to be aggressive without over doing it.  Some people may ONLY be able to do $10 per week or month, and others might be able to invest in lump sums or even averaging out toward being able to invest $1k or more per week.


Anyone investing into bitcoin has to be careful to not overdo it, and to maintain an adequate and sufficient emergency fund as to be able to continue to invest (or buy btc) during bad times, or at least not sell any BTC during such bad times.  Easier said than done, but each of us should be striving to put good and sound practices in place so that we do not have to sell any of our BTC at any time that is not fully and completely of our own choosing.


Having an emergency fund that is 3-6 months worth of expenses is also good, and planning cashflow in advance, and surely a person who has a 6 month cash reserve is going to be able to be much more aggressive in his BTC investment approach as compared with someone who has 3 months or less of cash reserves.

If an investor has an emergency funds, that will also help the investor to hold for a long term and also help him or her to accumulate more Bitcoins without getting to think about whether to sell a little of his or her coins to sort out some personal issues at hand.

One of the things some investors do is to try to see if they can accumulate up to a whole BTC or more, but the interesting part of it is that they can not achieve that if they don't work hard to achieve it.

And some might end up half way and some might not reach even half because there might not be a steady cash flow or over-expense might be the cause of it.

Still, they can never achieve upto 1 BTC if they don't have a steady cash flow just like you already said, but even with steady cash flows, if they don't try as much as they can (like holding their guns and not looking back but always ready to fire more money into their investment,,, they can never achieve a whole BTC).

So, the best way to achieve a whole BTC or the little one they can get is just to stick to their plans and never get tired of accumulating it.

The future is more brighter than now, so if I managed to accumulate 1 Bitcoin I will be very happy because it is not a day story to tell but it is a mile stone and everyone will he very happt to achieve it.
Starting with $1400 is also not a bad idea if an investor is eiger to get involved into Bitcoin, I can constantly DCA $50 in Bitcoin monthly and I am rest assured that with time I might increase frim $50 to $70 or more in Bitcoin, if I manage to put $100 in Bitcoin, it will take me 8 years to achieve 1 BTC in this current price.
If one don't have a plan he or she can not get want they want, but as it is very hard to achieve a goal, one will need discipline to do so.

Perhaps if a person had come into bitcoin around the top of the 2021 market and had contemplated that he was able to spend around $100 to $150 per week, and he speculated that he might be able to accumulate 10 million to 20 million satoshis in the next coming 3-4 years, and maybe he might have thought that maybe he might be able to get up to 1 bitcoin in 10-15 years.. perhaps perhaps... but then when the BTC price ended up correcting two years ago, he may well would have considered that to be an opportunity to buy bitcoin at lower prices, and therefore his $125-ish per week for the last 2 years would have resulted in right around $13k invested and close to 0.55 BTC (https://dcabtc.com?sd=2021-12-27&sda=2_years&f=weekly&d=2_years&ac=12500&c=true), and so he might be considering that it could be possible to get up to the accumulation of 1 BTC in the next 3-4 years, especially if he might be able to increase his  DCA amount.  Of course, there are no guarantees in regard to his ability to reach 1 BTC, but it may well seem like a realistic goal, even if it is a bit of an arbitrary amount, and maybe any of us would be striving to accumulate as  much BTC as we are able to accumulate, depending upon our own personal circumstances, and even though the amount we accumulate can make some differences, we still just strive to do our bests, and sometimes like you suggested, there might be some needs to cut back the amount DCAing and other times, there maybe be some abilities to increase the DCA amount.

Currently the price of Bitcoin is still below the ATH with a $25k difference. And anyone who missed the opportunity of buying now would still make same calculations you made earlier and would still have considered now to be the best time to make his investment in Bitcoin. That is why the best time of investing in Bitcoin was yesterday and the second best is today. Those who complain about the price now and procrastinate buying, would still make complains and regret they didn't buy when the price was $43k. I think some times we just gat to leave our comfort zone and become more aggressive in our accumulation by trying to use other strategies. After securing our emergency fund that could last for about 3 months, using lump sum would be a great idea. Because how far you go in your accumulation is determined by the opportunities you took advantage of when the price was still low.

Very nice purchase, it's a big purchase friend you invested in Bitcoin it's very desirable. But Op if you don't invest at once, it would be best to invest following DCA method. Investing in Bitcoin with the DCA method will make you want to invest more, and you will always want to invest in Bitcoin. It's good that you invested now because even though the price of Bitcoin is a bit bullish at the moment, and the price of Bitcoin will continue to improve even more in the future. So I never consider investing in Bitcoin as a risk, I think investing in Bitcoin is a good decision.

There is no specific time to invest in Bitcoins, Bitcoins should be purchased only when there are no more deposits to be had. You buy bitcoins above about one thousand dollars it is most attractive for the present time. But your first investment will definitely be successful because there is bitcoin halving in the future, so the price of bitcoin will definitely increase and you will also get benefit. But I would like to give you some advice to make your investment period long. Bitcoin investment is definitely more profitable if it is long-term. You already noticed that Bitcoin price was very low last two months and has almost doubled in the current time.

Accumulating $100 per week from now till the next 10 years will be a good one because, from my calculations, I got $52000 in total and,, the price of Bitcoin is @$43000. But come to think of it, within 10 years, the price of Bitcoin might skyrocket above $150,000k or above $200,000, so the $52k that the investor accumulated might not be able to reach a whole Bitcoin or even half a Bitcoin.

But nevertheless, we should just constantly DCA the amount that we can and not to contemplate whether to reduce the amount we accumulate but we should only be thinking of increasing the amount we put in Bitcoin weekly or monthly.

However, achieving a whole Bitcoin can be so easy if an investor always keeps emergency funds separate from Bitcoin investment and still, also has a steady cash flow, and with time if he still increases the DCAing amount.

Although the OP did well as he purchased the amount he bought (above $1k), it would be better if he constantly bought weekly with the help of the DCAing strategy, as he already said he has a steady cash flow.

There are only few people that i believe when talking about bitcoin and as it is for Holding , one of them is JJG because His wisdom and thoughts keeps me becoming a more better in terms of believing and holding bitcoin.
In the past i kept having even shitcoin in my Folio but now things has changed and like yours , I'll keep filling my folio with bitcoin though i still have few altcoins but those are reserved for at least payment options specially when the network is congested and i need to release some funds for payments or at least to gamble sometimes but my bitcoin remain intact and ready for HODL.

Please Keep your funds OP as long as you can so you will never regret any decisions from here and in the future like what other does selling their funds and not readying for emergencies of life.

Congratulations once again and keep it there.

My office friend also really doesn't like investing in BTC, I once suggested to him to change your dollars into BTC during the last downturn (because he loves Altcoins) and as a result he just admitted that the increase in BTC prices was very significant even though the waiting period was almost a year.

What you said to the OP is correct in this case that Holding will provide more value than what the OP has currently invested by owning 0.033 BTC. and this is also one way to prevent losing our money in the market.

The important thing is to never get caught up in fomo or hype so that our position is at the smallest risk and remain patient, the key which will help us save assets when we see falling prices.

You consider it wisely because you are in the business already, but for those who want to participate newly, they might not know anything called DCA. This is why we should learn what we want to deal with financially before we do it so that all the information and purposefulness in them can be well utilized for our advantage. As it is now, there is no how the OP can make so much money through Bitcoin, that's just the truth, and you could imagine the purchase of about $44,000, it will take Bitcoin to get to $132,000 before the OP can make x3 of his money, and that is if Bitcoin will get to that level at all. Getting to about $100,000 in this bull run having moved so much already is what I am confident of. But getting far more than that is what I can't really believe would happen this time. Many are anticipating a very big move but I believe that cryptocurrencies are getting much more these days, and the money might be spread on all of them and not Bitcoin only.

This might limit the level at which Bitcoin would reach even as people are getting smarter to make more money and not believing in HODLing Bitcoin alone. However, if the OP follows your advice, it is never too late, he can liquidate it and try the DCA approach. After all, Bitcoin is still close to his striking price, but I don't think Bitcoin can significantly go lower again to make it make much difference.

Nice move man Congrats for finally having bitcoin my only advise for now "jus hodl" that 0.033 btc of yours can turn into a lot of profits someday don't be affected by incoming fuds  just continue to buy whenever bitcoin dips you can wait for the top of this bullmarket to take profit and wait for another buying opportunity.  

Sure he  will keep that coin for long , because it took him some time , effort and knowledge before finally buying this means how important to Him having this amount and for sure that is just the beginning and will extend more and more before the great halving happens ,
or maybe he will continue holding for more years readying for His future and His family as well.
Congrats to OP and happy Holding , welcome to the Gang  mate.

Honestly I understand what you are saying but there are other newbies that still understand what they are doing and what is called DCAing strategy (not all forum newbies are Bitcoin newbie) some of us here are not bitcoin newbies but me I am a bitcoin newbie.. however, I have invested in Bitcoin as a newbie but still I have learned some things about Bitcoin from this topic, (https://bitcointalk.org/index.php?topic=5132720.0) and am still learning, so I just try to continue learning while I am investing so I can gain proper understanding about Bitcoin (as the more I will accumulate, that's the more I will gain more understanding about Bitcoin).
It might take a while for me to understand Bitcoin in full as Bitcoin is not a subject or something one can learn in just a day, so learning while investing might be the best idea to do.

Happy Holding mate , we will always be proud of people like you that does not care about what others and social media says instead focusing on your goals of supporting and having bitcoin in your pocket.
I must say you are one of the best example of how the world will adopt bitcoin because of how you trusted this and how you are proud of having it.
Good luck to us Holding bitcoin for long.

I personally believe that it is best to get started investing into BTC ASAP, even if you might not have had sufficiently secured your 3-6 months of emergency funds.  Surely you can engage in multiple kinds of behaviors at the same time to get your financial and psychological house in order, and if you have really straight forward finances, and maybe even other investments that you could draw from, you might be able to get away with an emergency fund that is ONLY 3 months, but if you have a lot of complications in your cashflow and/or your expenses, you may well need 6 months of expenses saved up, and the more aggressive that you want to be in terms of your bitcoin investment, the more likely you will need a larger (or longer period) worth of emergency funds.


The fact of the matter (based on posts in this thread and in his other thread (https://bitcointalk.org/index.php?topic=5469290.msg62948934#msg62948934)) is that OP has disclosed that he likely blew his whole wadd on making a lump sum investment that he might not have had been in a position to afford.. or at least it is quite a deviation from his initial ideas, and he had not really saved for doing aggressive DCA and/or buying on dips, so he had largely been overly (perhaps gambling) on up, and he barely has enough to do $10 per week (which he said his plan is to do $50 per month, and yeah maybe he is holding some of that back for buying on dips?  perhaps? perhaps?), so it seems to me that he is not in any kind of a position to buy $100 per week of bitcoin unless he robs a bank or something like that (which I am not recommending), so it is really difficult to know if OP will ever reach 1 bitcoin - even in 10 years -  unless he is able to either increase his cashflow and/or to decrease his expenses... or if there also might be some other matters about OPs wealth that he did not mention.

Of course present cashflow and circumstances do not necessarily foretell future possibilities and/or limits in regards to cashflow and other wealth related circumstances, so it is possible that OP could improve (or increase) his cashflow circumstances and therefore increase the amount of BTC that he can buy whether he does more lump sum purchases, buying on dips, and/or DCA to attempt to accomplish such an aim for one bitcoin, if he is even thinking about the necessity to reach such randomly (arbitrary) and potentially unnecessary and/or inapplicable an amount.


But even JJG can be wrong.. so don't come crying to me when (or is it if?) you lose all your money.


Yep the default is mostly to say no to shitcoins, and if for some reason you cannot help yourself to gamble and/or experiment then maybe go up to 10% of your holdings in shitcoins, absent some kind of inside knowledge and/or superior information, which is mostly never going to be true unless you happen to be a scammer or teamed up with some scammer who is not scamming you, too.


4-10 years or longer. is a good starting point in the way of considering bitcoin investing, especially for any kind of lump sum investment.... and there may be folks who have shorter than 4 year timelines because of age, health and/or even some personal circumstances.. and those folks should be investing less into bitcoin rather than more... that is if they are wanting to attempt to play some kind of a wave, then they should be playing with less money if they are wanting to try to do that with bitcoin with money that they might need in less than 4 years.. and one of the ideas of the advise of not investing into bitcoin money that you cannot afford to lose is that you already have your shit together in such a way that you may well not even need the money in 4-10 years or longer and you are willing to ride your investment into bitcoin down to zero if that kind of scenario ends up coming to pass... so be as aggressive as you can be, while at the same time realizing and recognizing that there are no guarantees that you won't end up losing all the money that you put in.


Diversification for the mere sake of diversification is usually not a good idea, so hopefully guys are not so dumb to fuck around with shitcoins until they established their bitcoin strategy first, and then maybe if they are the gambling types then maybe they could dabble up to 10% in various shitcoins... but it might not even be wise or necessary... but hey people can choose what they like, even when they have amongst the best of investments in front of them (namely bitcoin) and if they want to either dilute that investment or to play around with shitcoins, then that's their choice... hopefully if they do end up playing around with shitcoins they realize it is an in and out strategy in order to get more bitcoin, so then why even go through a process of figuring out which shitcoins are worth your time, energies and monetary value to put into those kinds of snake-oil pump & dump type products.


It is not easy to get in and out of something once a lump sum investment is made, but I do agree that if someone recognizes that they had made a mistake, they might have to adjust their strategy in order to allow them funds for what they should have had done, which is being able to DCA and buy the dip with similar amounts... and there are no exactly strict rules regarding how much should be allocated to each category in regards to DCA, buying oin dips and lump sum.

So let's say that OP had $1,500 in cash and then he ONLY has around $50 to $100 per month that he could use to buy BTC (so let's call it $75 - so that would be right around $450 over 6 months.), and so even if we might say that his total budget over 6 months is right around $2,100, then for me that would be $700 in each category, but that does not even mean that what I am thinking is the best way to do it, but that would be my initial inclination and thinking point based on the information that I have, and if there is other information to change what I am going to do, then I might adapt that and maybe lean a bit heavier on the lump sum being higher than $700 but then that would end up taking away from the one and/or the other of the allocations... so for sure there are trade offs, and we have to be careful if we are going all in.. but if we do end up doing something like that, we have to be willing to live with the consequences that if the BTC price moves against us, then all we have left is $75 per month to make BTC buys.. and maybe that ends up being enough for whatever trade-offs that we were weighing.


When I first started investing in bitcoin in late 2013, one of my goals was to invest and also to study bitcoin for the next 6 months, and then I extended the same budget for the next 6 months, so then after a year, I had learned quite a bit, but I continued to study bitcoin and to tweak my strategies from time to time based on my learnings... and surely sometimes mistakes are made along the way, and frequently there are ways to recover from mistakes in fairly prudent manners, but it could still take a while to completely recover from some kinds of mistakes, yet it seems the longer that we are in bitcoin, the more likely we can put systems in place to mitigate mistakes and even to lessen their impact or the likelihood that they will happen.. but we still will likely continue to learn and to make some mistakes at various points along the way.. and one of our goals might be that when 4-10 years or longer comes along, we are still in the game and we have not been reckt in the process, and maybe even if we are fairly young, then we want to be improving our lives even 15-30 years down the road with some considerations that we are still going to continue to have BTC in our holdings, absent some convincing changes (or undermining) of its investment thesis.


That is a good point too, peter0425.  Even if we might be learning and we might be reading various ideas about bitcoin and bitcoin investing we have to come to our own conclusions in regards to what is best for our own situation, and then to own our decisions, including to make adaptations if we believe that we need to make them, but not necessarily to make any changes merely because someone on this forum made such suggestion(s).. 

If we have decided to hold Bitcoin for a long period of time of course we must have a good plan to be able to carry out what we have planned and it is also very important to have good knowledge to be able to hold it for a long period of time because if we don't have a good understanding about Bitcoin then we will be affected by bad news about Bitcoin, when we have a good understanding of Bitcoin of course we will be able to easily achieve the targets we have set and we also have to be patient before the big halving happens.

From what I understand, OP has been struggling financially with the passion to invest in bitcoin sooner. Until he was capable of saving a little to buy his first bitcoin. I am kind of certain that OP does not keep money for emergency funds. He sounds like an individual in that whenever he receives his income, he settles the housekeeping bills and thinks of where to invest his money next. So this made him save up regularly to start an investment.

If OP's monthly income is stable, I think the best thing to do to accumulate bitcoin faster is to DCA consistently, but if his income is not steady and it varies from different prices based on his work input, I will suggest saving up for 3 to 6 months and lump sum.

People often do this not having no knowledge about Bitcoin, they just know Bitcoin as one investment that can double their money with time without examining and understanding the strings attached to Bitcoin.

It is good seeing those who make it their greatest obligation to keep on getting acquainted with the use of Bitcoin and its  blockchain always ends up making good profits from their investment, simply those who invest with the intention of a long term holding.

Congratulations. Back in 2016-2017 I could have bought bitcoin for cheaper price but I didn't. Instead if bought some altercoins. I think I made a bad decision.

By "good knowledge" are you suggesting that holding require any special form of knowledge? Do you know that many Bitcoin tech experts may not even hold Bitcoin better than investors like MicroStrategy that are busy accumulating Bitcoin for years without selling. Basic knowledge of Bitcoin is all you need to be able to invest in Bitcoin and HODL.

In my local board, a lot of people started their Bitcoin journey this December as you can see in this newbies introduction thread (https://bitcointalk.org/index.php?topic=5121680.5600), these are people with little to no knowledge of Bitcoin and the tech behind it, but within a month or two from now, we would have guided them on how to start accumulating and holding Bitcoin while still acquiring more knowledge of it like I'm personally doing. If they have to wait till they get detailed technical knowledge of Bitcoin, a lot of them will be frustrated and will abandon it for other easier things. I don't think we should scare people with this knowledge thing because even in conventional career, people learn on the job.

that's how the trend will go and before you know what has happened, the number of Bitcoin holders will increase across the span of the world.

This goes to show that the message has been heard and people have started making great decisions regardless of whatever negative news and propagandise information that might have been flowing across on the internet and the resistance the part of some local government and authorities.

Kudos for not just making an audio claim to have accumulated bitcoin but for actually making it as a necessity to buying and posting it here, it has served as a source of motivation to people have the intention of buying but have not made an effort to buying it.

Welcome to the world of crypto investing, and congratulations on your first purchase. Out there, so many people are planning to buy their first investment. However, there are so many considerations behind that, such as waiting for lower prices, waiting for the market to stabilize, waiting for high prices, doubts, and so on, so they never start. After all, you have taken your first step, and the next step is to make subsequent investments little by little. However, be confident in the plans and decisions you have.

For long term holding not necessary with good knowledge about bitcoin, but some people more confusing when investing in bitcoin and afraid what is the right time entry until bitcoin get up to higher price. Actually knowledge is most important when investing in bitcoin but need decision without doubt when invest their money in bitcoin.
I know OP not know well with bitcoin but he has braveness for investing in bitcoin and learn later detail about bitcoin, first you need to make investment in bitcoin and then you can learn or get knowledge with bitcoin after having bitcoin investment assets, what for have more knowledge but still get doubt when investing their money in bitcoin.

Knowing the basics? An absolute must. Truthfully, though, you don't need expert-level technical knowledge to hop on the Bitcoin train. Did every gold prospector know earth geology? But they understood gold was valued. Similar to Bitcoin, recognizing its value is more important than blockchain technology. Continuous learning is needed, especially in a dynamic area like cryptocurrencies. You don't need a PhD in computer science to invest, but remaining informed and learning? Smart move. Knowledge is power and profit in Bitcoin. You must learn to swim, even the basics, before diving into the ocean.

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In your local board, you're doing a great thing guiding newbies. It's good. Remember that guiding is not overwhelming. It's not wise to scare folks with technical language. Finding that fine line between informing and intimidating. Keep curiosity, learning, and interest alive. Bitcoin is for everyone, not just techies.

What a nice gift for yourself before this year ends OP.

Just make sure you stored it in a wallet where you have your own private keys. Don't put it in a certain exchange platform for too long if you're not going to use it in trading. Also, don't let anyone else see or copy your private keys, because they might steal it and you'll regret it when that happens (let's hope not). Avoid panic selling and being FOMO. Good luck on your cryptocurrency journey.

If you had started investing in Bitcoin since then, it seems you would have been one of the lucky ones. Yes if you had invested in bitcoins between 2016 and 2017 you would have owned a lot of money by now.  In 2016 to 2017, the price of Bitcoin was much lower than it is today, when the price of Bitcoin was only between $963 and $1500. Since then, the price of Bitcoin has increased by almost 100% to its current value of $42,840. Bitcoin price will increase as time goes by. You can start investing in Bitcoin right now if you want. If you don't have enough money then you can start investing with DCA method.

That is not true.  You seem to be just making up your own facts..  Op had already created another similar thread, and he referred to that thread in the OP of this thread. Accordingly, in his other thread, OP already admitted that he had a cashflow of $300 per month (https://bitcointalk.org/index.php?topic=5469290.msg62948934#msg62948934), and he ONLY had been budgeting around $50 per month for the buying of bitcoin, so if we go by his own representations, then he did not all of a sudden save up the money because according to him, he ONLY has around $50 per month extra that he is able to earn for bitcoin, which would take around 30 months (2.5 years) to be able to save up $1,500.

Yeah, he might have already had that money saved up or maybe there were facts about his cashflow that he was not disclosing, but the mere estimation of a $50 per month investment plan is way different from what he said that he ended up doing.   


That could be partially true.. that he is erratic and spontaneous, and even the portion that he makes seems to have dedicated a pretty decently large percent (which is 16.7%) towards bitcoin.. and so he did mention a expenses of $100 and an emergency fund of $100, and $50 for personal (which would be a kind of reserved expenses).  So even if he had not been saving an emergency fund previously, and if he had been saving $150 per month, it would still take 10 months to save up to $1,500...

And, maybe I am being a bit too harsh, but I am using OP's representations - and likely he had something already saved up because otherwise it makes little sense to all of a sudden have $1,500 that he could buy BTC when he had previously been contemplating a mere $50 per month, and yeah sure people change their minds about how much they are going to allocate towards the investment in something, whether bitcoin and/or any other investment.. and maybe even sometimes we either receive extra unexpected money or we are able to juggle around our finances and realize that we have some money in some other location that we are able to reallocate towards investing in bitcoin or some other investment.


This comment does not make a lot of sense, either.  You should not be saving up an emergency fund and then plunking it all down into bitcoin, that defeats the purpose of the emergency fund... and whether OP has a steady income or not (which he described as $300 per month which sounds pretty steady to me as a way of describing it), he still would need to save up 3-6 months worth of expenses for his emergency fund, and if we consider his expenses to be around $150, based on his description, he could save up 3-6 months, of that which would be $450 to $900, and he could invest in bitcoin at the same time, and his having said that he was putting $100 per month into his emergency fund suggests that he would be able to save up his emergency fund in 4-9 months, and simultaneously buy $50 per month worth of bitcoin.

Once an emergency fund is established then it mostly could be maintained and drawn from here and there, but if it is drawn from then it is replenished soon thereafter, and if it maintained, then any extra income that had been used to build it would then be available for investment, so OP could start to use $150 per month for investment into bitcoin rather than just $50 per month once he reaches his emergency fund target.

And, if there is a possibility that his income is unstable rather than stable, as you suggest Dailyscript, then more likely that would justify building a greater emergency fund rather than saving in order to lump sum into bitcoin, and hey I don't have any problem with the idea of lump sum investing, which is used for buying upfront, or buying on the dip, which is used for when the  BTC price moves against you, presuming that you had already been investing, and yeah there are some people who don't want to buy BTC right from the start, so they save up in order to buy on the dip.. which may or may not work out for them, and is not a very good way of preparing for UP, if they have not already bought BTC in advance of their waiting for the dip, which means they might have ONLY prepared for one BTC price direction if they do not already own BTC.


Of course there is a bit of a balance, yet there needs to be an emphasis upon people getting started as soon as they can, which does not mean that they jump into bitcoin blindly, but instead almost everyone comes to learning about bitcoin, and they may already know if they have $10 that they could buy bitcoin or not... so they have basic understandings of their cashflow... if they do not know their cashflow very well, then they likely need to learn those kind of things, but still does not mean that they should not get started with some small amount.. setting up accounts, figuring out where they are going to buy it and to hold it, and then figuring out more things along the way in terms of their own discretionary income regarding how much extra that they have that they are able to spend each month (or each week) after accounting for their expenses... how much of their income is left?  Anything? $10? $100? $1,000? or some other amount?  Is their cashflow/expenses regular or erratic?  What about their personality?  Sometimes an investment style and even creating some investment plans (such as into bitcoin) might be able to help a person to better understand and manage his own financial and psychological matters.


Yep.. we cannot go back in time, so we have to start from the present, but we can see that investing even $25 per week into bitcoin since mid 2016 to present would have resulted in nearly $10k invested until now and nearly 2.5 BTC accumulated  (https://dcabtc.com?sd=2016-06-01&sda=custom&f=weekly&d=8_years&ac=2500&c=true)(current value right around $107k - so very close to 11x more valuable than the amount invested. 

I am so familiar with this kinds of statement of regrets and you will surely not be the last. Even now many people are still choosing shitcoins over Bitcoin siting huge ROI and fast profits as motivation. Just check how much funds people are injecting into Ordinals that messed up the transaction fees of Bitcoin, that should tell you how much people follow the hype, some of whom will cry later.

Now you still have the chance to correct that mistake, you can join the OP and those of us who are already building our portfolio. The chances of Bitcoin rising so high, following coming activities, is high and it will be bad to miss opportunities twice. I have my reservation with shitcoins because the risk is much. I don't want the founders to use my money and invest in Bitcoin for themselves  :D :D :D

You don't need to have any good knowledge before you can invest into bitcoin, all you need to know is the basics, which OP already know, which is to buy and transfer to your wallet. As long as OP has already made up his mind to hold for a long term, he will be learning along side with growing his investment.

Financial management, patience, consistency and discipline is what a newbie investor needs for him to be able to hodli his bitcoin for as long as he wants to hodli. Don't make it sound as if hodli is something that need market analysis or to know the technical aspect of bitcoin. If you know how to save money from young age, it wouldn't be a big challenge to hodli

If one is using emergency funds to invest in Bitcoin, that means the person is not really saving the money for emergency cases but investing it in Bitcoin. Meanwhile, if an investor is not saving for emergencies, that means the person can not hold his coins for a long time (they might even sell them off in just a month or a couple of weeks).

You are absolutely right, you know what I understand in the second phrase that you are trying to say. An investor must have 3 or 6 months of emergency funds even before he or she starts investing in Bitcoin (I see) because it will absolutely make the investor not think of touching his investment.

Let's imagine that before one starts investing in Bitcoin, he has been saving $200 per month in 6 months. That's about $1200 and the investor is still working and getting paid steadily (he has a steady cash flow), then on the 7th month he starts investing $100 weekly in Bitcoin (and still saving emergency funds too)... With all those savings he or she has, he or she will not think of tempering his or her investment for a long time.

What's the essence of waiting for the dip when the dip will not come so easy? However, such person might not even be aware of the dip rather.
As the OP didn't wait for the dip, I like it that way because maybe before the dip might come back he must have spent the money already if only he's one of those that can't deal with cash ;D.

Actually during that time it's nice to see and it's nice to compared cause in the year 2017-2018 the price of bitcoins is negotiable which means if you buy bitcoins those days then one thing for sure you will become a multimillionaire this days cause if we look in the price during 2017-2028  it is very low which is we can buy Bitcoins many more. But like what you said mate you did a bad decision cause instead of buying Bitcoin you didn't buy that but you by altcoins which pretty bad

I agree that a person should not be dipping into his emergency funds for BTC buys, but there could be situations in which it makes sense if there is variability in income and expenses, and there is also a decent sized emergency fund.  There also may be decisions to buy a certain quantity of BTC no matter what, so if the cashflow over several months is fluctuating, the income might not meet expenses, and yet there still might be expectations that the following months or the month after, the emergency fund will be able to be diminished with the short-fall, and part of the reason to have an extra large sized emergency fund is to be able to buy BTC every month/week. . or whatever might be the priority that is pre-established.


I was not trying to say that a person has to have an emergency fund prior to buying BTC.  I am frequently saying to start investing in BTC as soon as possible and also I am saying that sometimes more than one thing can be accomplished at the same time, and yeah, there may be risks involved if the emergency fund is not very strong, but there may also be preferences to make sure to invest into BTC on a weekly basis and to build the bitcoin investment, even if there might be an inadequate emergency fund and other ways that the person's finances are fucked up.. such as not having his debt under control...and so maybe he is paying off debt too... .. and sometimes the earliest days of getting your finances and psychology in order can take a bit of time, maybe even 6 months to 18 months, or even longer, but maybe at the same time there is at least a minimum amount of BTC that is bought.. and maybe there was a past practice of not having any emergency fund, so there was a past practice of always panicking and just the creation of an emergency fund is going to bring progress and the more and more that the emergency fund is built, the more aggressive the person likely is going to be able to become in terms of his BTC investing.


At the same time, we should not let the perfect be the enemy of the good, and we might end up having way too much cash.

So we have to find a workable balance, and if a person has expenses of $200 a month but a salary that varies too, then there might be months that he is not able to pay all of his expenses from his salary.. and he should be in the best position to figure out if he needs to have more saved up so that he can deal with the variability, but also there are other ideas of cashflow replacement, but also if an unexpected outside emergency comes besides the needs for cashflow, then he might need to have more than just 6 months worth of regular expenses saved up... so I am not going to be able to suggest in advance for someone, and each of us has to figure out how much cash to keep and how aggressive to be in our BTC investment, and if maybe we have been investing in BTC for more than 4 years, we might even be in a better position in terms of solidifying our emergency funds.. and maybe even having other categories of emergency funds besides cash..and maybe we would also have an order in which we would draw such funds and hoping to never have to dip into the BTC.... .


You can prepare for dips or not. That's your choice.

Since I got into bitcoin I have striven to be prepared for either BTC price direction, and I have striven to maintain such preparedness at all times.  That has been my own approach.

When you are brand new to investing into bitcoin, you might have some savings and maybe you have some kind of an investment portfolio of stocks or something, so when you first decide to start buying, maybe you have an aim to get at 10% of your investment portfolio will get allocated to BTC, and so if you own $10k worth of stock, and you don't want to sell any, then maybe the next 10 months you invest $100 per month into bitcoin and you thereby get close to being around 10% into bitcoin, and then after that you can reassess what is your next goal.

If you already have $600 in cash in the bank that you could allocate to buying bitcoin, but you don't want to spend it right away on bitcoin, you might choose to allocate a portion to buying bitcoin, but maybe at the same time you have to account for your income and maybe you have $100 per month coming into your income that could be spent on bitcoin, so if you add up what you have in the bank and what you have coming in, then that is $1,200, and so you could divide it up $400 to each category but then you don't have $400 to buy right away and $400 for buying on dips, so maybe you divided it $300 for buying on dips and $300 right way, and then you still would have $100 per month for DCA, and yeah, there can be a lot of scenarios to consider, but having money to buy on dips is part of something that I have always try to prepare myself, but sometimes when the BTC price keeps dipping, any of us can get to points in which we need to reassess or we might even run out of cash.

On the other side, yeah it can be uncomfortable if the BTC price does not dip and you have money waiting to buy on dips that does not get used, and you have to figure out yourself how you want to treat that money or to readjust your considerations of the setting of your buying price points from time to time in order to attempt to best prepare for what you believe that the BTC price might do in that portion of the money that you have available for that purpose, and at the same time it would not necessarily mean that you stop DCA buying within the terms that you have set for that category of funds..


I already stated how I would have dealt with it, and that does not mean that my way is either the best for OP or for anyone else, and OP has to decide, and once he decided and he already employed that strategy, then he likely is somewhat locked into that strategy, unless the BTC price goes sufficiently above his buying in [price and he decides to reassess based on that kind of a price movement...and sometimes people will take a loss in order to correct a mistake that they made, and there are surely trade offs in correcting mistakes by taking losses, but sometimes it might be the more practical solution, and I am not even suggesting that OP should do that. 

I have made some similar mistakes in the past, and frequently i have to make some tweaks in order to account for the mistake, and hope that the mistake is not too large... and so sometimes I have mistakenly bought when I meant to sell, and other times I have mistakenly sold when I meant to buy...and sometimes I don't realize that I made the mistake until several hours or even several days later.  I will usually have to figure out some kind of a solution that I consider to be acceptable to wait out a price move that might correct the mistake in one direction or another or I might force some kind of a resolution... and if there are likely fees to take into account, then that would also be something that is calculated into what can be done or should be done.

Sometimes it could take several weeks or even longer for the situation to resolve in one direction or another in order to get me back to where I should have been or could have had been absent the mistake.

On a normal position, I don't have a proper knowledge of Bitcoin but with the little I have gotten just this few days that I have been active, I have get to know some of the important things about Bitcoin investment, with that I can perfectly hold my coins and protect it with everything i have gotten.
As a Bitcoin beginner all I have I to do I to protect my wallet seed phrases.

There should be proper knowledge about Bitcoin before deciding to begin investing in it, not just buying and transferring to wallets but we need to consider other risk factors associated with Bitcoin. Most people who do invest with poor knowledge of what they are putting their money into always ends up with loosing due to panic of the price going down, getting involved with scammers or technical problems which will cost them loosing their Bitcoin.
All this are associated risk factors which if their is enough proper knowledge about Bitcoin can be avoided, then their will be no chances of becoming a victim.

I saw the price too that year and I didn't expect that it gonna reach this high today but there is no need to worry because, through those years, I have been accumulating bitcoins and ended up getting more balance in my investment and jobs and not fully expect my earnings on my investment rather I was using every opportunity to buy low and patiently waiting to sell it at a high price. This will only become possible if you have enough knowledge of crypto investment and especially how to secure and prevent your crypto from getting stolen by hackers.

Glad that you took the community’s suggestion and chose to be the part of Bitcoins family. I am 100% sure that you won’t regret this decision. If you have some funds for investing in long term, then Bitcoins are the best according to me. Its decentralised nature will definitely help you to save from paying unnecessary taxes. Just keep showing trust in the coin and you will never regret investing in Bitcoins. Wishing you all the best for your future mate.

Anybody that uses funds for emergencies to invest in Bitcoin is not a wise investor because problems can come at anytime when he/she will need some money that he will use to settle down some things that needs to be settled..
Having an emergency funds might make an investor to hold more longer than he or she planned to hold. Reasons are because when you are saving and still accumulating Bitcoin and on the other hand you have funds for emergencies, then what will the person want to sell his coins for? Nothing,,, unless they will want to use some of the profits to complete a project and other things that can be bring more money to them during the week or month.

There are some people who works in a company that don't pay workers salaries on time (delays payments) and those people if they are invest in Bitcoin and they are not saving some funds for emergencies and just saving for nothing, by the time month end and there is no payment they will want to sell some coins and use the money to support them self untill payment is made.

I have not seen anyone keeping funds for emergency. There is no special emergency funds in anywhere but the funds came out when the emergency arise. Nobody pray for bad omen or danger ahead, but emergency is unavoidable, whether we like it or not we must encountered it from one way to another  and emergency funds also comes unprepared. And at that time of the emergency, no responsible person would use that funds to invest in Bitcoin then the person does not value the sick person life. Bitcoin is not something we invest and reap within a second or hours. But a long term investment.

As I said nobody saves money for accident, law case and others but it is when the matters arise then money would come out from it hidden places to settle the problem.

Even though you are correct that if an emergency fund is not very robust, then a person probably should never use the fund for anything other than emergencies.

However, I doubt that there is any strict rule in regards to whether someone might choose to use his emergency funds - so maybe if I exaggerate the hypothetical a bit more, you might be able to understand how an emergency fund might be used in a floating kind of way. 

Let's say for example, a person starts investing into bitcoin, and at the same time he is building up his emergency fund, and so his regular salary ranges between $300 and $1,200, and most of the time, his salary is more $700.  His expenses are right around $500, and let's say that he has 2 months of expenses saved up in his emergency fund saved up ($1k), but he wants to get his emergency fund up to between 3 and 6 months ($1,500 to $3k)... and so maybe he will not really be comfortable buying bitcoin until he get's his emergency fund up to 3 months, but he does not want to forgo investing into bitcoin, so he decides that he is going to buy $50 worth of bitcoin no matter what, so long as his income for the month is greater than $550, which is $50  greater than his expenses, and if  the income for the month  comes in greater than $550, then he will split the extra between his emergency fund and buying bitcoin, so if he ends up earning $1k for the month, then he has made $500 extra, so he could put $250 into bitcoin and $250 into his emergency fund.

Maybe he also decides while his emergency fund is between 3 months and 6 months, he is going to buy $100 worth of bitcoin no matter what, and so there could be some cases in which, and sure there could be cases in which he has to dip within his emergency fund to accomplish that, especially if his income were less than $500 for the month.

So then maybe once he gets his emergency fund up to 6 months, he might decide to buy $500 in bitcoin each month no matter what, and there also could be cases that he ends up dipping into his emergency fund.

Let's say that he continues to invest and build his emergency fund, and his emergency fund has gotten up to 9 months worth of expenses (which would be $4,500), so at that point, he might decide to buy $1k worth of bitcoin every month no matter what until his emergency fund goes back to 6 months, and then if his emergency fund goes back down to only 6 months, he will modify his approach to be more conservative at that time.

I am merely giving this as an example to show that there could be cases in which an emergency fund ends up being greater than it needs to be, so then there could be choices to dip into that emergency fund, based on the size of the emergency fund being greater and perhaps having a greater ability to float non-emergency type issues. .and so what you call it might be an argument about semantics rather than recognizing that there can be ways in which some portions of the emergency fund might be treated more strictly than other portions, especially if such emergency fund gets built up to be fairly robust in size relative to expenses (or expected expenses or even how much extra might be needed to keep in the emergency fund for unexpected happenings, which the punchline, like you said Su-asa is not to get to any kind of point in which you run out of emergency funds and have to dip into your BTC investment at a time that is anything other than your own choosing. .which depletion of your emergency fund would not be a good place to be... in part because it seems to be largely preventable.


Even if people are not accustomed to keeping an emergency fund, if they start to invest, there is a higher need to have an emergency fund in order that you do not have to sell your investment at a time that is anything other than your own choosing.  Anyone who invests and does not establish an emergency fund is gambling with his investment, and yeah there could be some folks who have developed some ways of cushioning themselves with various assets that they would sell first, so they might not call their funds or their assets to be part of an emergency fund, even if some funds might be serving that purpose, if they were to be the thing that is sold first, and anyone investing in bitcoin should not be putting himself into a position in which he has to sell his bitcoin first or at any point that is not of his own choosing, otherwise he is treating his bitcoin as part of his emergency fund, which is a plan that is likely to not have very good success .. it is a kind of gambling to treat your bitcoin as your emergency fund.


There are all kinds of emergencies.. not just sick persons.... but you raise a point in which there coudl be some kinds of cases in which it might be prudent to have an emergency fund that is larger than usual.. maybe more than 3-6 months but and might have some other funds that are for catastrophic situations.. and if you do no thave funds in other place, then your bitcoin would be serving that purpose.. which may or may not be a good idea and may or not be something in which you could attempt to plan for how many funds you hold in various places and what would be the order in which those cushion funds would be used for any emergency that was ongoing, persistent and of the magnitude that is draining your regular and then seemingly insufficient 3-6 months emergency fund.


You are assuming too much Mate2237.. people do have funds for emergencies, and sometimes it could take a long time to build up such funds, and sure some of that could be in bitcoin, but it could also be in other assets, so the longer and longer that you are in bitcoin and thinking about these kinds of things, the more likely you could be building up your emergency fund to be more and more robust.. .and some of the robustness can be planned in advanced, but some of the robustness might well be a thing that is built as you go.. ..

So, like the example that I already gave above, if a person knows that his regular expenses are usually around $500 per month, and his income is $300 to $1,200 but usually around $700, there still could be ways to attempt to cut expenses down and/or to build up income.. and so maybe once the emergency fund gets to 6 months, he might decide to build it up to 12 months, and perhaps some of the funds would be considered working funds.. so there could be various places to put the emergency fund and to build its size at the same time.  I would not presume an emergency fund to be futile, merely because you don't do it or no one you know does it, and I some people do decide  to keep some forms of money in cash even though it is not working capital, partly because the want to make sure that they have enough of an emergency fund.

Sure there are some cultures in which the money tends to debase so fast that it does not make a lot of sense to hold that money in cash, so there could be some ways that some of the emergency fund is held in non-yielding cash, and then there could be some other cash that might take a bit longer to get to but it is earning some kind of interest so that it holds its value.. and so there can be questions of trade-offs between liquidity and holding value.. .especially the larger it is, then if you are holding a whole year's worth of cash and it is losing value at 2-5% per year, you might believe it is not that big of a deal to keep adding value to it, but if it is losing value fastr than that then you may want to be able to earn some kind of interest on it.

That's the more reason why any Bitcoin investor should scrap out some money from their earnings that will stand as emergency fund should the need arises rather than tampering with their holdings because if they tamper with their holdings then their motive of accumulating more Bitcoins will be conquered because they gonna keep tampering with their holdings from time to time until they exhaust all their holdings so it is important to always plan ahead should in case things doesn't go as planned.


Depending on salaries alone is not enough to buy and hodl especially when you are using DCA because in the course of your salaries not coming at regular intervals it may affect your DCA so it is advisable to also have another medium of earning an income that you can be sure of at the end of the day so that it wouldn't affect your investment goals. Having external savings from your earnings is also very important so that in a case of your income being delayed, you can just go to your savings to sort out yourself.

If one can save bigger amount for emergencies in 9 months, he should just concentrate on the investment for some times until the emergency funds is low then he can continue saving for emergencies, like after removing the monthly expenses from the monthly salaries hes receiving then he should just put the rest of them into Bitcoin.

Well, we can only congratulate the topicstarter on his acquisition. For many people, buying Bitcoin is more of a symbolic act, because hardly anyone would argue that in the modern world Bitcoin is a cult item. It is correct to store Bitcoin in a cold wallet. But I would recommend storing your Bitcoin on a multi-signature wallet. For example, 2 out of 3. By the way, Electrum also has multi-signature wallets, but, in my opinion, they are hardly the best. It seems that multisignature on Electrum does not support Segwit addresses. You might consider Sparrow-wallet.

I think you can continue to update this thread in a few months or every year let's see how your savings are in the long term in bitcoin. Yesterday my friend also started buying bitcoin to save. I think in 6 months from now at least he will have more assets than saving in a bank. The best alternative for saving is in crypto by buying bitcoin. If it is long term and most trustworthy, I can assure you that Bitcoin is the most worthy of trust because it is very iconic in crypto.

I think this is a good idea, to see how OP funds are progressing. But I think if the price of bitcoin fall and OP have extra funds which are not emergency funds, it would be better to invest again to have more satoshi. Anyway, cryptocurrencies and banks is very different, and yes OP and your friends really right to save their funds in crypto especially bitcoin because it is profitable also safe and reliable.
@OP, Congratulations, you are on the right path because it is never too late to start invest in bitcoin.

That is a very good thought, but you also have to realize that not everyone can think like that, especially those who don't like Bitcoin. Even though many media have explained that Bitcoin is very good and suitable for long-term investment using savings that are not intended for emergency funds in life. Because if there are many people who want to think like that by putting more money into Bitcoin investments without thinking about selling in the near future, maybe the price of Bitcoin will experience price increases more often than corrected.

Since you have done that OP, expect the ROI profit that you will get; we just don't know if x2 or more can come back to you from the amount that you started OP. The good and important thing about this step is that you have made the first move here, and that will continue.

I congratulate you, and I can say that it is a good starting experience for you in this field of the bitcoin industry. I also admire you because you also know how to listen to the advice of other communities on this forum platform.

Firstly, congrats :) How much have you been able to add since OP? New Year bonus I hope :)

This is me, my Bitcoin is my savings which means only to be used in emergency or in retirement, I hope the retirement option kicks in if BTC is 1 million before I actually retire in about 25 years lol

My advice is to have no expectation. You just started so keep building for a whole 4/5 years (1 cycle). Bitcoin still too unpredictable to rely on it but I'm glad you already understand this is a longterm thing!

Yes mate Op will not regret once he invested in Bitcoin cause we all know how Bitcoin works if he invested Bitcoin then he can earn more profits in Bitcoin but it will happen for a long term cause we all know that Bitcoin is for long term investment , so he must wait for months or even years to achieve what others already achieved. Also Op don't need to worry about cause Bitcoin is one of the best coin for investment it's proven and tested so we can guarantee that 100% safe than other coins. So good luck Op for your Bitcoin.

Congratulations to those of you who have successfully made your first bitcoin purchase and we hope this is the first step for you to continue collecting responsibly. Everyone starts having difficulties when they first start because they may not have much experience and over time they will get used to it by themselves. But what you need to know is how to invest responsibly and don't need to force yourself to sell goods, cars and take all the money from business profits, because there is a monthly purchasing method that you can do.

That's much better because your bitcoin ownership is much safer than storing it on any exchange. This is quite important to pay attention to so that the investment you undertake does not pose a risk of loss. Stay consistent and you can continue to purchase bitcoin regularly using the DCA method and the important thing is not to force yourself to buy with all the money you have.

Dollar-Cost-Averaging (DCA) method has made it easy for everyone to invest now if anyone wants to invest in Bitcoin then they can start investing with a very small amount using this method. Dollar-cost averaging (DCA) is a special type of strategy where investors buy small amounts of Bitcoin regularly over a period of time as the price of Bitcoin fluctuates. This dollar-cost-averaging (DCA) method allows traders to take entries at the right time and right price.

There are many people who cannot buy large amounts of bitcoins at once but they are gradually increasing their bitcoin investment by investing in the dollar-cost-averaging (DCA) method. But one thing to keep in mind while investing in Bitcoin is that the amount of money you are investing in Bitcoin, if you need money at some point, you have to supply the money without selling your invested Bitcoin

You seem to be struggling with the idea of an emergency fund.

Yeah, of course, people are not used to maintaining an emergency fund, and surely many times such emergency funds are not easy to build or to maintain, especially if the money is tending to debase with such rapidity.

For sure, there is balancing going on, and you seem to believe that you are better off having an emergency fund a smaller amount so that your money can be working.. such as being in bitcoin, and sure maybe, if someone is new to investing, they may well choose to maintain a way smaller emergency fund because they hardly have any investment size....  and sure, part of the reason that a lot of newbies will end up getting recked out of their investment is because they did not maintain a large enough emergency fund to deal with unexpected circumstances.. and it happens all of the time, especially for newbies who have no other sources to draw upon if their cashflow dries up or is not sufficient to cover their expenses besides whatever small emergency fund they have and their investments (perhaps only into bitcoin), so they could end up getting fucked pretty badly to spend a significant time building their investment and not having enough reserves to cover short-falls in their cashflow.

Do I need to present another example?  

Let's say that a person started investing $100 per week into bitcoin in October 2019... So he started at a pretty reasonable price and the BTC price largely went up from October 2019 until late 2021 and then ended up correcting a lot during 2022, but he kept investing into bitcoin and thinking that a new ATH would come, and BTC prices would reach $100k or more, but the prices were already in the lower $40ks and upper $30ks.  So maybe he ends up investing nearly $13k into bitcoin and even having right around 0.8 BTC (https://dcacryptocalculator.com/bitcoin/?start_date=2019-10-15&finish_date=2022-04-01&regular_investment=100&currency_code=USD&investment_interval=weekly&exchange_fee=0.02).. but at the same time he had not been maintaining a very large emergency fund... and so we know what ended up happening from May 2022 to December 2022, and if he might not have been able to cover that period, and he kept drawing from his cash, then he may well end up depleting large parts of his BTC stash.

So what happens if during that time (even in early 2022), he is already suffering from cashflow issues, and he believes that he can handle the matter and from our earlier hypothetical, his expenses are around $500 per month and his cash flow had historically been $300 to $1,200 with most of the time being around $500, but then maybe he is ONLY getting $300 or maybe even some worse circumstances, and some of his expenses are going up too.. due to the Emergency status.

So he has no choice but to start to dip into whatever emergency fund that he has left, and the BTC price keeps dropping? and so by May 2022 the price is dropping a lot, and maybe he would end up having to sell bitcoin at a time and price that ends up NOT being very convenient... and he is selling as little BTC as he can, but he does not have complete control over the situation and if his situation does not resolve and he keeps selling as little of his bitcoin as possible he could still end up with very few bitcoin and even inabilities to replace whatever he sold when the BTC price starts resuming up in 2023.  

I am not trying to say that an emergency fund is going to resolve everything, and surely there can be various backups that people have, but if you are working with the hypothetical, you should be able to figure out some reasons in which it may be a good idea having an emergency fund, even though maybe it is not a very high likelihood that you would end up using it.. but at the same time, having to sell any of your BTC during periods that you should be either accumulating or at least holding would not be helpful to your longer term prospects, and frequently poor people never are able to get rich in part because they fail/refuse to maintain a sufficient/adequate emergency fund, and they end up using their investments (such as BTC) as their emergency fund.

Congratulations on reaching your objectives! Keep working to improve your lives, as nothing good comes to those who do a sensible things that will make them happy in the long run. Since buying bitcoin is similar to planting a crop and waiting to invest, it indicates that you are prepared for the next bull run.

However, if you really want to take full advantage of the bull run, you can still buy more bitcoins as the more you buy, the larger your profits will be.

This OP's story reminds me of the first time I was able to buy Bitcoin, and at that time there was definitely a feeling of hesitation about buying it because it was a new experience and there was also a fear of losing or losing.
However, after buying it, not long after the price of Bitcoin rose and I made a profit from the Bitcoin and that made me feel happy and motivated which made me enthusiastic to be more active in making money and so that I could buy Bitcoin again.
And the money I earn to buy Bitcoin from my side job and not use the money I earn from my job or salary, and I buy it in stages or do DCA from the money I earn from my side job.
And OP has a car that can be turned into a business that can make money and that's good, because you have income that supports you to be able to continue buying Bitcoin. And my advice is that you should do the DCA strategy without having to save and you can buy it according to your ability after you get a profit from your business and do this for the long term then you will get big profits in the long term.

Ops congratulations to you on your Bitcoin purchase,  I don't know if this is your first Bitcoin purchase or a follow what you already started some time ago,  btw it is nice to see that you have taken that step to accumulate some bits of data as an investment,  I believe in the long term you will be able to accumulate more Bitcoin as your cashflow increases because the journey is still far from finishing and considering how little your amount in accumulation is it becomes obvious that you will need to make several and more Bitcoin purchase as a follow up if you want to starch up an amount that could yield good profits on the long run.

But then also it good to see that you are beginning to engage in discussions that can help you make a quick and flexible Bitcoin purchase journey to arrive at your Bitcoin accumulation point before your timing.

Lolz, he thought emergency fund is something one can save and be using it in the future. Well government might do that because they have enough funds to be used in the future but I don't think so for individual  I don't think so but in the cryptocurrency investment, emergency funds is the cash you have aside from the main investment funds and that will also  brought the clause I have been using since, "have something doing before you start your investment, you that you won't spend your investment funds, and what you are doing can be your emergency funds. But @JayJuanGee can explain more better for everyone's understanding because the "Emergency Funds" here is like giving extra meaning to the conventional meaning. And that might be the misunderstanding of some us because they might only understand it from the dictionary and general uses of the "Phrase".

And as it said earlier, emergency funds are not easy to save or keep because problem arise in human life every day so if you are keeping more to invest then you have to displayed yourself for some minor occurrence but even that is to not easy to bypass. But some people used to keep or luck emergency funds in apps to be use in the future, so when Bitcoin price low and you have emergency funds at that time then it is good for you to top up your wallet with good amount of Bitcoin if only you have enough emergency funds at that time.

I still think that since OP had overinvested in his initial investment, he might not be in a position to buy very many bitcoin, even though like he said it may be good to DCA some small amount.  But part of the problem is that OP seems to have such a small income, so it could take him a while to build up his emergency fund and maybe even to build up enough to have for buying on dips.. just in case or just to have that money available...

In the end, OP knows his situation better, and he did not really say where he got the money because it is way beyond the amount that he initially planned to in vest (maybe right around 30x higher).. so it could take a bit of time to get back into balance if someone engages in a behavior that is around 30x his normal budget an does not provide a context or explanation for how that is not overly doing it.

Don't get me wrong.  I am not poo pooing the idea of front loading an investment, and I am also not poo-pooing the idea of continuing to DCA, but sometimes if a person over does it and does not have an emergency fund, then he is not investing, he is gambling, so he runs the risk of the BTC price moving against him and also that he might not be sufficiently/adequately prepared for if some other issues might come from his using money that might have had meant to be his emergency fund.

Normal people (including gamblers) do these kinds of things all of the time, and sometimes it ends up working out.  I recall a forum member in around 2016 (or maybe it was 2015) who had sold his house and used much of if not all of the proceeds to buy bitcoin, and there were several months that the BTC price moved against him, so it took a bit of time before he was looking like a genius.. and there are other people who gamble in those kinds of ways and the situation does not work out as favorable.

We do have a nice set up for some ETF approvals and other various bullish events in the short term and maybe even in the next year or two, but surely none of that is guaranteed to play out favorably, which is part of the reason to try to prepare for either direction (even during times in which the price and circumstances seem favorable).


That could be.  Although I am the one that said that if your emergency fund is BIG enough, then you can float it.  He seemed to be erroring in the other direction of not needing to have an emergency fund.

Furthermore, in another post, he seemed to have had been describing emergency funds as something that you spend every month, so if you have a $300 budget, then you have $100 in expenses $50 in personal, $50 to buy bitcoin and the other $100 for an emergency fund.. meaning just extra things that you had not thought about.. .. so I am having trouble thinking that he has his emergency fund situation figured out... but if you are living with mom and dad, then maybe you don't really have to worry if they are going to bail you out, then you don't really need an emergency fund.


I think that there can be some flexibility in terms of how to treat an emergency fund, but it seems that 3-6 months worth of expenses would be the normal range that people think about, and surely I think that 3 months can be quite low, but sometimes people want to live dangerously and if there is work to build the emergency fund, from my own point of view, I think that you can sometimes draw on it and even be a bit risky, but if you are in the practice of doing that too much you are likely going to end up screwing it up, so that is part of the reason that I suggest a larger cushion prior to allowing it to float, so maybe the cushion would be closer to 6 months, but you might float between 6 and 9 months, so you allow it to build to 9 months, but sometimes you might draw it down to 6 months, and when you start going below 6 months, then you have to be more careful to be working on building it rather than drawing upon it... but surely guys are going to draw those lines in differing kinds of ways. .. which is fine as long as they don't end up getting burnt... and then regretting their lack of a sufficient/adequate cash cushion.


That's true.. sometimes we might get caught up in semantical arguments in which guys have differing understandings, and it seems to me that part of the way of really learning about these kinds of things is to put them into practice and to continue to try to learn how to balance them in light of your own personal circumstances, and trying to pay attention to your own comfort levels and various kinds of times in which you might be depleting your cash cushion.. ..

and everyone is likely going to have some float in his income, so for example, if someone  only get's paid once a month, then there are going to be periods around getting paid that everything seems fine, and towards the end of the month is the part in which there may well need to be a no matter what cushion that the amount of cash does not go below a certain amount.  Of course, getting paid more frequently will help the within the month possible short-falls, and so someone who gets paid only once a month likely has to keep a larger cushion than someone who gets paid more frequently...

..and part of my point that the lowest reserve is likely going to come at similar times each pay period or each month and you can monitor those periods, including figuring how you might treat different levels of reserve.. and how much tolerance do you have for your cashflow to get to certain low levels.. which surely I consider to be stress that is unnecessary because it is the kind of stress that you can avoid and/or minimize.. and other aspects of having an emergency fund will make it quite more likely that you will not experience emergencies as compared to the person who does not have an emergency fund or who has an inadequate emergency fund may well end up going through emergencies every one or two months.. which just seems crazy to me... but we know that people live like that and when you are a serious investor in something like bitcoin, there is no excuse to have those kinds of incidents.. there should be zero tolerance for such.. .and you should be able to go 15 or 20years without ever having any emergency incident because you always maintain a sufficient/adequate cushion.

Some people actually believe that it is normal to have emergencies several times a year and maybe even every month or two, and that does not happen with decently well organized people.. and part of the secret is the creation and maintenance of a sufficient/adequate emergency cushion (fund).


I would not call your float to buy extra BTC emergency funds, yet I do not disagree with the overall point that there can be all kinds of ways that extra funds are kept and that your emergency funds can be seeming to work for you in a variety of ways, while at the same time, you should be keeping track of them and not letting them drop below certain levels in the aggregate or even in various places that you might have varying categories of extra funds.

I love your aura for investing. It takes a million convincing from your crews to be able to take the bull by the horn. I wish I'm you, I envy your courage to invest. Kudos the sky is only just the starting point. You'll never regret this great journey of yours

Congrats on your first buy I still remember when I bought my first Bitcoin on a local exchange for fear of losing money but I still gave up everything I bought my first coin and from that year till today I am still stuck with Bitcoin & crypto market.
The biggest lesson I have learned in crypto is to store your coins in a wallet where you take ownership, of your keys, and your coins. Hence I suggest going with a Hardware wallet or paper wallet for better protection. Also, distribute your coins to different wallets.

Well, honestly speaking, I don't remember which of the posts I posted here on the forum gave you encouragement, OP, but anyway, thank you, and you appreciated whatever I posted that encouraged you to buy Bitcoin.

At the same time, I am also glad that you have taken one step first, and I am sure that you will take one step after another in the decision that you have made about holding bitcoin in the long term.

Congratulations on your investment. I'm also happy I took a bold step last year to invest from the money well-wishers gave me and my baby after delivery. I got that idea also from this forum. Indeed Bitcoin talk is giving us amazing ideas. Everyone who joins this forum should endeavor to read and gain knowledge about Bitcoin investment because this should be the sole purpose of everyone who joins this forum.

The ease of investing in Bitcoin provides a way for anyone and this is why there is no reason to say that he cannot be involved in investment. DCA does not require the right time to take the accumulation of purchases because this strategy can be done at any time in accordance with the specified period. Keep in mind that relying on this strategy must have consistency because when someone does not do it regularly, the bitcoin they have will never increase. The price of bitcoin is still high enough to accumulate a large amount of purchase and this is sufficient to affect some people who do not have a good and stable financial structure.

DC is a strategy that can be run and we do not need large capital during consistency to do regularly, Bitcoin can increase slowly. Regarding the need for money and does not need to sell bitcoin it can be adjusted, therefore we do not need to invest all the money possessed and can be made percentage so as not to affect the investment we are living.

 Congratulations, mate! This is a huge archivment, I'm so for you, you were able to buy what you had been wanting for a very long time. I know you'll have more fantastic wins in the future. This is still the right time to purchase bitcoin. Those who encourage you will be very proud of you for your efforts, as you believe in and purchased bitcoin based on their motivations. If it weren't for the personal problems you've been dealing for the past months, you should have done so in October. Given the current price of bitcoin, just make sure your investment is for a long term to gain more profits. I'm not sure how much money you have, but if you want to take opportunity of the bull run, you can still buy more. Once more, congratulations, and best of luck for future success.

Yes even though the DCA is good for everyone to invest, the investor will need constant income probably weekly or monthly if not even the DCA can't be effective for the investor. Because the person is using that method because he does not have enough funds to invest at once so what has to do is to look into his income and plan to invest according to the income. And as you said there must be a persistent top up of the DCA to increase the portfolio.

Invest what you can afford to survive and not all the money at once. You can divide the income into two and use one part for the investment and the other part to do things in the family to avoid quarreling. Invest wise.

I hope that he wont do that because I have read some newbies that did invest and did the wrong decision of investing what they cant afford to lose. And when they are in need of money, they were forced to sell the bitcoins that they have bought. While the situation of the market was unfavorable, instead of making a profit, they have made a lost that they have regret. That is why you are right that he shouldn't invest all that he has got.

Actually, it is not a good idea to do so, but if Incase any one is in such position whereby his or her emergency funds if very very big like $10k or $15k , he might as well use $1k from it just ones, then not try that again.

Okay,,, now I get the point, like we all know that Bitcoin is heading to the top and looking at the price today, Bitcoin is about $46700k and yesterday it was $47k, this shows that Bitcoin is rising and people should start investing instead of waiting.
Like now, if one is accumulating a $50 Bitcoin weekly it will not be a bad idea but it might be a bad idea if the person just stop accumulating because he or she might not have money to keep accumulating. Sometimes, a lot of people encounter such situations because they don't have a constant cash flow, and for someone who don't have a steady cash flow to safe for emergency cases he or she will also find it very difficult to hold and accumulate Bitcoin.

Perfectly said,

That's one thing I don't ever want to experience that's why I have to keep one building up the investment instead of waiting for the dip that might no even get dipped.
Ones one have the one to buy there is no need to wait for dip, although everyone have their own ways of investing, just like the way I am using the DCAing method, others might not 2ant to use it like I do.

Interesting.
However, everyone has made a mistake already and most time mistakes are meant to be made because it will help us to learn more about what we made the mistakes for, so that next time will be more careful.
If mistakes are to mode then a lot of people would have not learned what they have learnt today.

Investing according to our respective abilities is wise enough in any condition because everyone will never disturb what they have invested when they suddenly need money in their own lives. So that the investment will continue without any obstacles or sell immediately when you need money, but beginners who often make wrong decisions when investing can also learn by themselves through the wrong method so that they can have the right mindset with their next investment in the future by not using all the money just for investment.

Personally, I am not so much focused on short-term BTC price moves, even though surely some of that can be taken into consideration; however, the main idea with any investment, including bitcoin is to get the fuck started and don't be diddly daddling around, and sure to do so in a kind of practical and reasonable way.

Sure, if someone's finances is in so much of a mess that every day is emergency mode, then he should get his finances in better order prior to getting started investing; however, it seems to me that an overwhelming number of people are not constantly operating in emergency mode, but instead they have some kind of understanding of their own finances in terms of knowing how much money they generally have coming in and how many expenses that they have, so right from the start they will have a general framework for understanding how much money that they have available each month or each pay period.

However, on the other hand, many people do not really study and practice their personal finances in a detailed kind of way, and when they invest, they likely need to get into better practices regarding both how closely they look at their financial situation but also in regards to both building and maintaining an emergency fund if they had not been in the practice of creating an aggressive emergency fund.. .. so most likely a lot of people know that they keep a certain amount of a float in their finances so that they are not always panicking, so they already know how to do those kinds of things, yet if there is a desire to seriously invest into a volatile asset such as bitcoin, there needs to be more seriousness in terms of buttressing an emergency fund that goes beyond their regular practices.. .. so that building of an emergency fund can be accomplished at the same time as building of the investment, so their is no need to delay getting the fuck started in bitcoin (and I am not talking about FOMOing in merely because the BTC price happens  to be going up, but instead it is always the case in regards to bitcoin that getting started is the thing to do rather than waiting around.. and finding insubstantial reasons to delay).


For sure people have to figure out their own situations, and if they are fairly new to bitcoin and maybe they are investing around 10% of their salary into bitcoin, which maybe is around $50 per week, like you suggested, then it is going to take them around 10 years to have reached a whole year's salary invested into bitcoin.

On the other hand if they had been more aggressive and they are investing around 25%, then they would have a whole year's salary invested in 4 years.

So what they do and how they manage their cashflows in order to make sure that they are able to continue to invest no matter what has to do with various aspects of how regular their income and expenses are and they may find ways to establish minimum amounts that they invest every week and maybe being able to max out at higher rates depending on how much money comes in that week or month or whatever is their pay period.

I frequently suggest to be as aggressive that you are able to be without overdoing it in such a way that you end up losing your bitcoin.. ..... so some of that may have to do with how much cushion exists in an emergency fund that can be being built and maintained at the same time that the BTC investment portfolio is being built.

BTC price is only one of the 9 factors to consider.


Note: price fits within number 4.


The more instable (or irregular) the cashflow, then the more need for a larger emergency fund, but the mere fact that someone has a unstable or irregular income does not necessarily mean that he cannot invest into bitcoin.   However, if he does not have enough money to cover his expenses, then he does not have disposable/discretionary income, so he does not have money for investing, and one of the first principles that we already established is that investment money should be coming from funds that are not needed in the next 4-10 years or longer... so if someone is taking money from his expenses or that he would otherwise, need, then he is gambling rather than investing.


Well, you might not be in a position to have that problem; however, after you invest 4-10 years or longer, there might be a point in which you are starting to feel that you can change your strategy.  You have to be the one to figure out what is the best strategy for yourself in terms of whether you believe that you have enough BTC or too much BTC or if you might need to balance things out, and I had already mentioned that if you have less than 25% of your annual salary saved up, then you likely do not really need to worry about diversifying beyond having some cash and/or an emergency fund, but maybe once you start to get up to higher levels of BTC accumulation, such as 25% to even 2x of your annual salary into bitcoin, then you might start to want to consider some other strategies and/or variations on your already established strategies, and the level of BTC accumulation or the size of the BTC accumulation that you establish prior to adjusting strategies is likely going to differ for people.. and maybe some people will want to adjust their strategies once they get up to 25% of their annual salary accumulated into bitcoin, and others 100% and others 2x.. and there can also be considerations regarding whether you are changing your strategy based on the amount that you had invested or the current value of your BTC holdings, whether you use the 200-week moving average to value your holdings or if you use the BTC spot price, and personally, I have already argued many times that it is better to value your BTC holdings based on the 200-week moving average rather than BTC spot price, even though you surely can do both.  (you can see some of my discussion and the website in my sustainable withdrawal thread (https://bitcointalk.org/index.php?topic=5475347.msg63213914#msg63213914)).


Some plans are better than others - both in terms of their practicalities but also in terms of their attempts to tailor the practice to the individual circumstances, and generally, it sounds to me that you are doing the right thing, especially if you are in the earlier times (or years) of your BTC accumulation, your building up of an investment portfolio that maybe is mostly focused on BTC for now. 


Of course some mistakes are greater than others, and we don't always completely learn from our mistakes or even realize our mistakes in a timely manner, but yeah, if we are trying to improve then we should be figuring out ways to make sure the levels of our mistakes are with our tolerance levels and we perceive ourselves to be making progress, and maybe when you are in your first few years of being involved in bitcoin, you do not have as many experiences or you might not be venturing out, but there are several kinds of parts of bitcoin in which any of us could choose to experiment with various kinds of wallets or various exchanges or various ways to directly interact with people in bitcoin and maybe to figure out if we are going to wait for confirmations before we give bitcoin for cash, and there can be differences if we are a vendor with an established business versus if we are meeting a stranger in the parking lot of a Starbucks.


A lot of the win or lose scenarios can be ameliorated in regards to position size.... so for example if a guy usually has $200 per month extra that he could invest or do whatever he likes with, and if he is brand new to bitcoin then maybe he would choose to invest $10 per week while he is learning, rather than investing higher amounts, and as he becomes more comfortable, he might start to feel that he can invest more and more and maybe some day even reaching the max amount, which is $50 per week in this hypothetical.