Lest assume this senerio that, Mr A uses DCA uses DCA to accumulate bitcoin as his only strategy and he has an income of 2500$ and decides to allocate 10% to buying bitcoin weekly, so he buys at the first week at a price of 45,000$ and second week at 50,000, third week at 55,000$ and finally at 50,00$, he ends up buying at an average price of 50,000$ and accumulates a total of 0.05 bitcoin for his first month for an uptrend market.
Let say the same allocation with an down trend market of 49,000$, 45,000$, 40,000$ and 39,000$ price at each buying interval, he ends up accumulating a total 0.0578 bitcoin at an average price of 43,250.
i doubt that buying using DCA method is an automated system that auto buys the Bitcoin on a fixed week, month or year regardless of the rise in the price of bitcoin. Technically, the DCA method may not be an automatic system but in reality it is supposed to be approached as automatic system if you have to be effective in it's implementation. In other words, effective DCA should be that you buy the planned amount of Bitcoin at the appointed time irrespective of the price or anything, this is somewhat automatic even though you may not be using bot or automated systems to achieve it. So, until the terms of the DCA is adjusted like increasing the DCA amount or shifting from monthly to weekly or bi-weekly, the DCA implementation should take an automatic approach. Even if I'm using the DCA method to buying my bitcoin and after the first purchase I notice an increase and then another increase that Is way higher that the first price I bought my first Bitcoin, from a personal point of view, I would rather sell my holdings at the peak of the price rather than buying at that price. Their are range of price that if you buy at such price, you are very certain to have a loss or to hold your bitcoin for a very long time if you want to gain anything you of your investment.
Even though I'm struggling to understand what you are saying, I think what you are doing is not DCA instead you are trading... buying low to sell high. Besides, how do you know with certainty the peaks that you have to liquidate your assets? This method you posted may sound very convincing for your fellow traders and not long term investors. Like @JayJuanGee replied someone, you don't have to call trading investment. |
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I agree with you that buying a fixed amount of bitcoin will ruin his bitcoin accumulation plan because if he sticks with buying a fixed amount of bitcoin weekly or monthly, he will end up not making a provision for emergency funds. For instance, If he bought his first bitcoin of 0.003 BTC at $42700 and wants to buy another bitcoin with a fixed amount of 0.003 BTC and the bitcoin price is at $50k, he will have to pay more money to accumulate the 0.003 BTC, which will make him use most of his weekly or monthly salary to accumulate the fixed amount of bitcoin, and he will depend on his bitcoin investment to settle his financial needs because the strategy he adopted to accumulate bitcoin did not allow him to keep an emergence fund. I see this as gambling because he might miss out on owning a bitcoin.
I don't know if the DCA method can be calculated in terms of the Bitcoin quantity because what I do know is that it is based on dollar amount that is why it is called dollar-cost averaging. If an investor decides to buy a fixed quantity of Bitcoin per time irrespective of price fluctuations, that is possible and achievable as it may be that he would have set a target to achieve in terms of Bitcoin quantity. For instance, someone can set a target of owning 1BTC before his 20th birthday and may decide to be accumulating 0.01BTC weekly or monthly as the case may be. As expected, he would have made adequate financial preparations for this, bearing in mind that while following his plans he will also pay his bills and also set up some reserve funds. I do not see anything wrong with setting such personal targets neither does it mean that he would not have factored in price fluctuations in his planning. I look forward to seeing what others will have to say about such plans, if it qualifies as DCA or something similar to it. I'm with my pen and my note, time to learn something new. |
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I do not agree that Tesla initiate the last bull run, they simply cash in on the hype of it because the news was all over the place. Of course their entry also added fuel to the price of Bitcoin because Bitcoin thrives on fundamental. So while they cannot take credit for initiating the bull run, the play their role in sustaining the momentum just like every other key player.
In all, I was not impressed with their entry into Bitcoin because their overall activities harmed Bitcoin more than it helped it.
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Saka have redeemed his image by scoring after missing an open goal header. Now Arsenal is leading Liverpool by a goal to nil. Could it be that the lack of pressure at the Arsenal defence is due to the absence of Mohamed Salah? Its too early to say but the Guners are playing so well tonight, against the expectations of many. This is truly putting doubt to my earlier position on the match. Let's see what Klopp can do for salvage the match because he obviously need to win this match if he must win the title this season.
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The Arsenal vs Liverpool match will of course be very fierce, Liverpool is in top form at the moment but I will not underestimate Arsenal because they will play in front of their own supporters, I think there is a high probability that a draw will occur and that is quite fair in my opinion.
This is definitely the match of the day and the entire world is keen on seeing what Liverpool will do today. They have had such impressive results in the absence of their key player Mohamed Salah, we shall see if they are better of without him or not. A win tonight will really confirm that because Arsenal should be a better test of their seriousness than Chelsea who they humiliated 4-1 last week. A win today will bring The Reds a step closer to the title to the groaning of Manchester City who are 5 points behind them, although with an outstanding match. Both Arsenal and Liverpool have lost just one match at home and away respectively this season, meaning they are playing in the side where they command some form of strength. It would have been easy to expect a draw but the recent scoring record of Liverpool does not suggest that a draw is likely. I will narrowly give it to Liverpool, although they will face serious resistance. |
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Government recognition of Bitcoin will not kill Bitcoin, it will rather make Bitcoin more popular and acceptable across nations and add more legitimacy to it. The only challenge is that it could lead to Bitcoin losing some of its core properties such as privacy and anonymity. Government will surely want to control the entire thing as that is their main purpose,control.
The first crime of Bitcoin was taking power away from the government, we gave seen how they responded to that and they are still doing everything within their powers to change that. Chances are high that they will succeed because no one want to be in their bad book.
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I just met a friend while playing in a lottery called Keno. He is a good gambler and sometimes hits jackpots. As a pensioner with grown children, he is a heavy bettor. I noticed that he is a generous gambler. He uses half of his winnings to treat friends, neighbors, and relatives every time he wins. He does this to invite good karma and since he acknowledges his gambling addiction, people who know him don't question him. One of his friends asked him why he kept betting instead of saving so he would have something when he needed it. His answer was straightforward, 'I am betting so when I win I can share half of my winnings with my friends and relatives who need money like you. ' I was surprised by his answer. His friends felt guilty for asking him. Some gamblers are that generous to avoid questions about their gambling activities and to continue gambling. How about you? Are you generous and if so, why are you generous?In my case, I am a little generous because winning is a blessing that should be shared. However, I will not make people feel guilty when I give an amount from my blessing. Our reasons for gambling may vary but the ultimate goal is to make money. Being generous is not my sole purpose of gambling, rather it is to help myself financially so I will be able to help others. Generosity is something most people have in them that is why charities and orphanages are still existing. Of course I will increase my role in that regard when I get more winnings. The reason generosity is not part of my motivation for venturing into gambling is because I don't want get myself more burden and more reason to over leverage. I won't to gamble with a clear mind |
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My neighbor has tuberculosis and from the information I gathered from a reliable source, his case is so severe. He is at the lung cavitation stage of the disease and he has been advised to avoid overcrowded environments for his health and the safety of others. But my neighbor who is a responsible gambler will always visit physical betting shops. Some physical gambling shops in my area are poorly ventilated and they could be overcrowded and stuffy. Sometimes you could see that he is struggling to remain in the casino shop and such cases he would be coughing heavily. I have told him to focus on online gambling but he told me that he is more entertained in physical bet shops.
Betting with online gambling firms will shield you from contracting communicable diseases because you are all alone in a comfortable atmosphere. My neighbor's behavior has made me focus only on crypto casinos because I am scared of my health. Don't get me wrong there are many well-built and very comfortable physical casinos that offer quality services, but when you are an online gambler you will not need to worry about the health concerns of fellow gamblers.
Your post is all about avoiding crowd, this I don't consider a big deal because gambling shop is one of the least crowded places I know. Stadium, schools, hospitals and Man other social gathering have more crowd. So I don't see why this should be a problem for a gambler. If it were other factors such as privacy, accessibility, etc, it will make sense that online casino preferable to physical casinos. At the end, it actually come down to individual preference because I know many people who still play in shops even though they have all that is required to gamble online. |
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What does that 99% sell tax mean? Does it mean token creator eats 99% of the sell price and only 1% hits the seller's wallet?
It means that if you connect your wallet to interact with their smart contract, they will drain your wallet from the tax and the other fees you see their percentages specified. Understanding the meaning ot that 99% I highlighted in the picture ( also other ones) is the main purpose of my thread: are you sure about the bolded part ? Because OmegaStarScream above you stated a different thing. I mean the way it is displayed there may induce a noob like e in thinking they will "drain" 99% ot the sell price but I cannot spot anywhere else they will drain all my wallet : or is there a way just by checking that dextool page? Read through this article [1] for more clarity on what I said. Some tokens contain a 99% sell fee which will steal all your money at the selling phase.
It is all about stealing your funds the moment you interact with their smart contract. MSD (MetaSwords) is another scam token created for the same purpose and distributed to over 93k people [2]. Any attempt to interact with the smart contract will result in loss. [1] https://research.checkpoint.com/2022/scammers-are-creating-new-fraudulent-crypto-tokens-and-misconfiguring-smart-contracts-to-steal-funds/[2] https://bscscan.com/token/0x6156a4372ffdf1c61c99f763d8e6b88795cb316f?a=0xef956b70dc23a84e7f96bb7dfb8fa291412095c2 |
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For yet another time I was added to a telegram pump/signal group which I usually instareport and delete but this time I was bored and got curious : of course I didn't invest any single cent in it but decided to stay in the group until their deadline would expire; it lasted a week during which they were periodically sending reminders in "mooning soon" style. No one can write or comment in the group.
When finally the token was revealed I digged into it a bit but I have never been involved so much in erc20 tokens/smartcontracts and therefore my knowledge is limited.
I will advice you change the privacy settings of your telegram to avoid random people adding you into groups. I have been scammed before through that means, so I learnt from it by adjusting the privacy of my telegram account to allow me join group myself and not be added by random people or even bots. What does that 99% sell tax mean? Does it mean token creator eats 99% of the sell price and only 1% hits the seller's wallet?
It means that if you connect your wallet to interact with their smart contract, they will drain your wallet from the tax and the other fees you see their percentages specified. It is definitely a scam setup to steal people's fund. Some go as far as delivering the token to your wallet and you could see the price through onchain data collected by Coinmarketcap. If you attempt to sell the token in PCS or any other DEX, they will drain your wallet. Therefore, I will advice you leave the group and never attempt to connect your wallet to interact with their smart contract. Finally, adjust your telegram privacy to avoid future recurrence. |
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Money is a very valuable thing in our life. Everyone has to work hard enough to earn money, very easy but never money. Since it is difficult to make money, it is natural for an investor to think about it when he invests that money. If an investor invests the entire wealth that he has accumulated over a few months or years, he must think whether he is investing his hard-earned money in the right place. Those who have prior knowledge of investing may not worry so much after investing but this problem is more common among those who are new to investing. In the initial stage an investor thinks a lot after investing but gradually he gets enough confidence in the investment and he gradually starts to trust the investment. If we invest then we must invest with confidence in the investment and if we don't have confidence in the investment then we can never keep that investment for long and we will never get our desired results from that investment.
The reason I so much cherish the DCA method of investing in Bitcoin is because it eliminates most of the concerns you have just raised in your comment. The DCA method helps stop you from worries and continual worries about your investment because you are putting just a little part of your income in a regular basis, in such a way that it will not impact negatively on your living condition. You can practically start investing in Bitcoin through the DCA method provided the basic requirements are met. Secondly, you don't have to be a pro to invest in Bitcoin through the DCA method, you just have to discipline to follow the principles. It is not like day trading where you need to have expert technical knowledge of the market neither did it require you to be an investor for several years, even a newbie can apply it just like most of us started using it when we have just little knowledge of Bitcoin. This is how simple and cool the DCA method can be and why it is the preferred method for little fries like us who are aspiring to build something significant for the future. |
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Real Madrid is still the strongest team in La Liga, maybe a decade ago we could talk about how Barcelona was better, and maybe last year Real had a bad year which was shocking considering they dominated the whole world of football a year before that, but at the end of the day we are talking about a team that is going to end up with a good result one way or another eventually and they always do end up at the top.
I think it's clear that people are making mistakes when they do not give enough attention to Real, and betting on them to win is a great way to make money, no matter who they play against, they end up winning. Odds are usually not attractive and the return is small, but it's fine to bet on them and get a little bit of profit anyway.
Real Madrid chances this season to win the trophy are quite big because they are only competing with Girona and I'm sure Girona will not be able to create fatal difficulties for Real Madrid. Today victory makes Real Madrid take over the leadership of the standings again where Real Madrid is already 2 points ahead of Girona. Slowly, I think Real Madrid will be able to widen the points gap with Girona. With the strength of the team being so perfectly integrated this season, Real Madrid will of course be the team at the forefront to win the title. Real Madrid are finally back to the top of the table after their 2 goals to nil win over Getafe. This is the true definition of focus, determination and resilience. Girona has put up a good fight however, I guess it is time for them to accept the reality on ground that it is over! I know some people will argue that the league is still open and that anything can happen; well those are the people not seeing the handwriting on the wall. Madrid came prepared this season and are not showing any sign of slowing down. I drew my conclusion the day the came from a 2 nil at half time to win Almeria, from then I know that everything is aligning for their favor and time is proving me right. |
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This quote is quite exciting for me, especially I have passed 1 year in my Bitcoin investment planning with the DCA strategy and this year is the second year of long-term Bitcoin investment planning. It wasn't easy, but I managed to get through it and there were a few problems, maybe just going through several stages of purchasing in the first year due to several factors that occurred. Because when the purchase was due, maybe my budget was needed for urgent life needs, but in the next stage I took the time to act to use double the budget for the next purchase to cover the gap due to skipping purchases in the previous stage.
For this reason, it is true that we need basic principles of preparedness when unexpected things affect our economy. As difficult as it was for me in the first year, I was determined and confident to close the first year of my investment planning successfully and that was a matter of pride for me. For this reason, I have advice for beginners to stay focused and have principles in planning Bitcoin investment because without principles, it will certainly be difficult for you someday. I mean if you don't have pressure to complete your investment planning perfectly then you will be left behind in various ways such as going through many purchasing stages and not being consistent with the investments you make.
At some point I have realized that accumulating says at regular intervals gives you some form of free air and preparedness for whatever that happens, because at some point I have gone through a lot of stages in my Bitcoin holding journey, and to a certain extent I have come to the realization that Bitcoin accumulation comes with a lot of pressure most especially when you pay attention to to the price of bitcoin and it volatilities at all time. When you are accumulating Bitcoin and you are facing a lot of pressures, chances are high that you are not following some of the rules that makes for peaceful holding of Bitcoin. Besides, a long term holder of Bitcoin does not regularly need to be looking at the price always because the price is irrelevant since you are not looking to sell and it is expected you already have a buying strategy in place like the DCA method or buying the dips which can be done with limit orders. Finally, Bitcoin is a volatile asset just like every major asset being traded in the open market however, since we are not scalping, the volatile nature of Bitcoin does not come into the picture. When I was not using the DCA method, I was spending hours daily just monitoring the charts and checking if my assets are in profit. It was a huge pain in the ass as there was no day I will not want to login unless when I do not have the opportunity to. Just imagine how challenging this could be and the joy that will come with anything that solves this problem for me like the DCA did. Now I know better and I'm taking advantage of the knowledge I have now to be investing peacefully and comfortably in Bitcoin. So for us to be in a fair position we need to pay more attention to the factors that help us to be in a better position to make the best of the decisions that place us on the safer side at all times because that is the only mean we can be at a stable level to make the best of decisions as regards to Bitcoin investments.
I have adopted the generally accepted norm here which is get a source of income through which your basic needs can be met and some funds set aside for emergencies and then invest in Bitcoin from the remaining part and see how all the stress, fear of volatitily and risk and every negative energy will disappear. |
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Gambling loses can be very painful and frustrating, it can make you begin to imagine if you were born with hard luck. This was my case when I haven't taken control of my emotions, then if I lose, I increase the gambling amount thinking that will help me recover the loss only to sink deeper into loses. I hated myself so much but I couldn't help but come back again to gamble another day, not remembering the previous experience that left me in deep pains.
I'm glad that those dark days are over, now I plan my gambling, from game selection to maximum acceptable lose to target wins, everything is dutifully arranged.
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I learnt about Bitcoin and still learning the underlying technology. I must admit that Bitcoin have changed my life completely as I now look at the future with optimism. I've been applying a method of accumulating Bitcoin called the DCA method and through it I have been able to continue to build my Bitcoin portfolio, a way of saving for retirement instead of saving it in the bank. Least I forget, I'm being paid for the signature I wore and that is another great addition to what the forum can offer.
Words will fail me if I attempt to explain all the beautiful things I learnt from this forum, from writing skills to analytical skill and even ethical behavior, this forum is indeed transformational and I strongly recommend this forum for anyone willing to learn new things.
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Bitcoin investment is something we should not be in a hurry to start if we don't have a source of income. If you use the available fund to start your bitcoin accumulation journey without any source of income, you will tamper with your bitcoin holdings to survive when the available fund has run out.
In as much as I would agree on what you said but I think with a proper planning someone that doesn't have source of income could actually start accumulating Bitcoin, I don't agree with you on this because without source of income, what you call investment in BItcoin will be sold to meet basic needs in a matter of a short time. Bitcoin investment require that one should achieve some level of financially comfortability to be able to hold. How do someone without a source of income have money to meet his basic needs, set up emergency funds and still invest in Bitcoin. The desire to invest will be there but without a source of income, it will not work out well. however he could start by using the little money he has to start up a business and with time and consistent you will see that the business will start yielding a good profit for him to start the Bitcoin journey while his normal business will now serve him as his source of income
You are obviously missing things up. This is confirming that a source of income is a requirement to be able to successfully invest in Bitcoin. Anyone without a source of income should first and foremost work on getting one, it could in the form of a job or opening a business... the source of funds must be established else it will not be possible to hold Bitcoin for long. |
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Usually, I group my bets when the odds are very low. I use very because even if the odds is 1.50-- and that's already low enough-- I still think grouping them together in a parlay remains highly risky. If the odds are like 1.20 or around that, that's probably best to group together in a multi-bet. Also, I think a 5-leg parlay should be the highest. That's more realistic than having so many legs. Less risk, although less return as well. Of course, if you already won 4 and the cash-out offer is already good enough, you might want to take that option. Sometimes you need to weigh the guaranteed prize versus risking it all for a bigger money. In the end, don't take my word for it. I'm not a profitable gambler.  You have a beautiful strategy that is focused on making money but your admittance of not being a profitable gambler makes me wonder what could be the problem. Could it be with the event selection or fate? I know that odds of 1.2 - 1.5 is easy to come by and even if the win rate is low, surely it will happen once in a while and the multiplier effect of the accumulator could have put you in profits. Maybe you could review your event selection, that could be the little fine tuning you need to give you edge in the business. |
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When I saw a survey indicating that the majority of voters chose the player that only a handful of experts expect to win over the player that has proven to be more dominant, it blew my mind.
I am talking about the boxing match between former champion and big star Anthony Joshua and mma star Francis Nganou. However, I remember not long ago I refused to place a wager on Real Madrid because I desired Girona to win La Liga. In addition, wagering against the Los Angeles Lakers when matched with the best NBA teams is difficult for me.
I want to find out if there are individuals like me. What percentage of the gamblers in Bitcointalk are wagering and not wagering to their dearest star player, club and team?
There are people who always play against their favourite star or team, they use it as a form of consolation incase their favourite loses, they make money. In soccer some people even play against their country so that whatever be the outcome of the match, they will be happy. I don't know how this work for them but I'm not really pursuing that momentary happiness so I don't do that. In gambling, I don't attach emotion, so I play the best possible option. If my favourite is to lose, I'll will go with the option that will give me the results I want and not really some form of happiness. You can say am not a loyal supporter, well that may be your opinion because I support for the fun of the game and nothing more... losing is actually part of the fun! |
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Knowing that investing in bitcoin is a long time investment, you should plan better and keep aside the money for investment as this will help you avoid anything that will alter your reasoning because as an investor you must be psychologically stable.
although the term HODLing tend to suggest that you have to hold it for a little while, investing in bitcoin isn't all that a long term investment as you suggest because the volatile nature of Bitcoin depict that you could have a reasonable returns even after a few month of investment unlike other asset like land that after buying, you have to wait for as long as five yeas upward before the value of the land will appreciate. We've seen the price of bitcoin rise to $42k this January and then dropped back to around $39k this same January so buying it now and after a week or two the price goes back to the $42k, if you sell it at that price, you've made your profit within the shortest possible time. You are probably not in tune with our discussion here. We are not discussing short term investment which is what you are referring to. Like the caption says, our target is to buy and HODL for long. If you are looking to buy low and sell high within a short time, then you are definitely in the wrong thread. To correct your impression that Bitcoin investment is not all that long term, we know there are people that invest for various purposes but to maximize the opportunities that Bitcoin offers, we suggest and encourage long term investment. The advantages of long time investment are huge and can never be compared to short term investment that have all the attributes of trading. Also, timing the bitcoin market earlier will give you an edge over the market as the higher chance of profitable investment will be there instead of investing late.
i guess what you are trying to say is that investing earlier will give you a better advantage over those waiting for the price of bitcoin to drop to as low as $37k before investing as anytime from now, the market will experience a bull that will make people without a single holding to regret their inactions and indecisive nature. This is actually true because this is actually the beat time to invest because you are certain that you wouldn't experience any loss from buying at this current price. If I got him correctly, he was saying that it will be difficult to get the real bottom, I mean the exact point the price will reverse so it will be better to consider buying when you see reasonable retracement and not wait for the perfect bottom. When price is correcting, you will agree that it is not always easy knowing the exact point it will turn or how long the correction will take. So it is better to consider buying as soon as reasonable discount have been offered by the market. This way you will not miss out on the major move because of waiting for the perfect bottom. For instance, when the post ETF retracement started, you will never know that price will go as low as $37k and even if you wanted and expected the price lower, there are chances you will not get into the market by now and price has already reversed and looking ready to go higher. This is a case of you missing out on the market because of waiting for the perfect bottom which cannot easily be known. |
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Hey, guys! Are any of you emotional gamblers who often lose because you can't control what you feel? When you lose, do you tend to double your bets or chase your losses, driven by a pride that can't accept defeat? Do you consider this a problem? If so, has anyone here been able to solve this kind of problem themselves, and if yes, how did you do it?
You will continue to lose as long as you are being too emotional with gambling. It has happened to me before so I know what I'm saying. I have done various funny stuffs such as even playing with anger after a supposed sure game cut my bet. There was a time it happened to me and out of anger, I decided to play with all the money I had in my account and I still lost it. Emotions and gambling should never go together because gambling is designed to mess with your emotion but the moment you are able to handle this, then the job is already done as you will enjoy winning gamble with ease while losses will be welcomed and accepted as part of the process. I have this problem, and based on my personal experience, I find that sometimes I get challenged but not too greedy because I don't have a problem quitting when I'm winning. However, when I'm losing, that's where my struggle lies.
That's why I shared it here; I feel that some of you may experience the same challenges, and I'd love to hear your ideas or experiences on how to win this battle so we can enjoy gambling.
To overcome this, always set aside the maximum you can lose before you stop gambling for the day. You must also develop the discipline to actually stop when you hit this amount. That way the feeling of hurt at the end of the day will be less. |
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