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Advising someone to buy Bitcoin when they're feeling pressured might not be the best idea because of the risks involved. If someone is interested in Bitcoin and wants to become a holder, they should do it at their own pace. Rushing into buying it without understanding how to invest properly can lead to wasted time and money.
Many people are fearful, and humans often seek safety in numbers. Only a few daring individuals make decisions independently without relying on others' opinions. It's a part of our instinct to stick with a group, and it's natural to be cautious about going it alone.
Some folks spend their money on things like alcohol, entertainment, or other non-productive activities. Investing in Bitcoin doesn't have to be a high-pressure decision. If you plan to buy Bitcoin gradually, you can cut back on spending for short-term pleasures and instead invest in something that can provide long-term benefits.
No amount is too small or too large to start investing in Bitcoin. It's not something that should stress you out. You can DCAing to invest a consistent amount over time, and this way, you can accumulate a significant amount of Bitcoin in the long run.
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Because the overall market supply isn't expected to change significantly just due to the upcoming halving, the impact on the USD valuation remains the same, I suppose.
Here are a few other thoughts related to miners:
Miners don't always sell their Bitcoins, especially during a bull market, as they have strong belief in Bitcoin's value. This makes sense because they play a vital role in the network's decentralization. Some miners do sell a portion of their earnings to cover operational costs, but this doesn't have a substantial impact on the market supply during bullish or normal conditions when holding is more favorable.
Most of their selling pressure occurs during unfavorable times when they need to meet their expenses. This is why miner capitulation is linked to maximum selling pressure in a market cycle, and smart investors often look for opportunities to buy when miners are selling heavily. For instance, if Miner X is selling a fixed amount of Bitcoin every day to cover their costs, even if Bitcoin's price remains constant for a month, they would continue to sell the same amount of Bitcoin each day. After the halving, they might sell more of their newly mined Bitcoins if necessary to cover their costs. However, in terms of USD, the baseline depends on how much energy the current hashrate requires.
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The days of bounties and promised allocations that took 3-4 months to be paid are over. In fact, one downside of bounties is that you end up working mechanically without really using your knowledge and skills. I wouldn't recommend anyone to get into bounties.
There's a lot more to this forum than you might think. If you don't know where to start, look for more helpful threads on this board. Maybe you have a skill that you can offer to others on the service announcement board. It's a good way to earn money by showcasing your talents in exchange for payment.
I suggest reading the forum rules, understanding how it works, reading books about Bitcoin, and engaging in meaningful conversations here. You'll realize you know more than you think you do right now.
Don't get me wrong, I'm not saying all bounties are bad. What I mean is that a successful bounty campaign depends on the project's success, which can only happen if there are good team members involved and a competent bounty manager.
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It's a good idea to teach your children about Bitcoin if you're a Bitcoin trader or investor. Sharing your knowledge with your loved ones, especially your children who might inherit it someday, is important.
I've heard of cases where Bitcoins were lost because the owners passed away, or Bitcoin accounts have been inactive for years, and no one knows what happened to them. Remember, there's a saying that when there's less supply, there's more demand. Some people hope that all the past Bitcoin holders would pass away with their funds. They think this would reduce the supply of Bitcoin, and then they could make a good profit because the demand would be higher. But you don't want that for yourself and children.
If you want a brighter future for your children, it's a good idea to start educating them about Bitcoin early. If you're planning to save some Bitcoin for your children when they grow up, make sure you store it properly to avoid losing it or forgetting the access details. You wouldn't want them to inherit nothing when the time comes.
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It's annoying and this is why Bitcoin is different, I think nothing can really be decentralized as Bitcoin again.
Bitcoin had an advantage when it was just starting out. Not many people took cryptocurrencies seriously, and hardly anyone knew it even existed. This meant that Bitcoin could grow on its own, without a central authority, using a system called "proof of work, and not having other coin in mind at that moment. No company created and launched Bitcoin unlike many altcoins, this why it will remain fully decentralized forever. |
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Ultimately it is personnel choice of every individual to choose the strategy that suits his risk tolerance level and financial circumstances. While, your advice to be careful when exploring different investment strategies sounds good. However, investing in Bitcoin passively or aggressively is never akin to gambling. Over the long term, all investors who accumulated Bitcoin at various price levels, have fair chances to gain substantial profit.
Yes, of course, each holder has their own strategy and it is part of one's skill level in doing so. We can never force the strategies we use to be used by others, and perhaps we can only recommend them. Like me for example, I'm comfortable with what I'm doing, and I prefer to focus on one strategy only, because for me having many strategies might not be good for me because at some point we might be dilemma to use which strategy. I don't mean to say that people who work with multiple strategies are not good, they are still good. But for me personally developing one strategy is better. Yea I’m liking it so far. I think after reading the whole thing, I now have a pretty good understanding of everything you said. I’m taking it slow and taking notes to make sure everything I learn sticks to my head. I am convinced it will be smart enough to figure out a system that works with the will power to stick to it. As for now am pretty sure DCA works for me so ill just stick with that |
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The only way to do this is by sharing your private key with someone very trusted or just storing it somewhere secure and keeping it locked until the time comes. The way to retrieve your valuables from the lock/vault can be specified on your will. Maybe be use a bank value to store your private keys on the paper wallet. Two parts on two different banks? That way there is lower chance of your keys getting compromised. And I am sure there are other people that have found out better ways to giveaway your wealth to your heirs. Maybe a quick google might help.
or if you have 2 heirs then best to have them both half of the key? so if ever that you died in accident or even in natural death , then they can just share each other and then boom , take the funds out? though My wife and my children have idea what is crypto and yes i have split the keys to them 3 , (but of course I have my own funds inside my pocket) so if ever this happens then they can take it out without any issue. But then there is always this possible of someone actually misplacing their key and just in case this happen what do you think will be the alternative way to go about it. As Bitcoin becomes more valuable, people tend to be more careful, and fewer private keys are lost. If you've educated your heirs about Bitcoin, they should be more focused on keeping things secure and not losing their keys. Unless they don't really understand the value of your Bitcoin holdings. But just in case this happens, having a highly trustworthy attorney is crucial. However, since it's not always wise to rely entirely on another person, you can get creative with this. For example, you could go old-school and write a letter with a fancy wax seal on it. You can have your attorney hold onto this letter, and it should only be opened by the person you want to receive it. So that will serve as an alternative if any heir loses private key. |
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I don't think it's a good idea to let them learn the hard way. As you mentioned, he's your younger sibling, and you have more life experience. You've probably seen different scams like Ponzi schemes before and can recognize them. It's better to advise him and let him know that he could get hurt if he doesn't leave that Telegram channel. Sometimes, they ask for a withdrawal fee before you can take your money out, but we know it's a scam to take even more after you've already invested.
I get it you are implicitly saying I should tactically play the big brother role not to allow him fell the burns from the fire directly. If you check through my op you would read where I said to them that what they've invested their money in is a Ponzi scheme and could land them into loss eventually, buy that being said I didn't see them picking interest in what I said to them. Maybe a part of me really didn't want to get into an argument with them to avoid getting to have issues with a sibling, so expediently when he learns it the hard way he may come around all by himself. You know, what I've noticed is that many siblings can be really stubborn. Even when you try to explain that you've been through a similar situation and have experience, they won't listen. Sometimes, they think that your time has passed, and they want to make their own decisions. Or maybe it's because their close friend keeps telling them that they're on the right path, and they're in it together. They believe that if something goes wrong, they'll both face the consequences. |
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Easy demolition job for Liverpool this year, even the reserves are good enough for the group stages here.
Gonna be tough to win it, some great teams in it this season, all incredible hungry to win the title Only West Ham, Roma, Villareal and some others are going to be tricky. I'm not accounting for teams who will drop down from champions league though (Newcastle for example will almost definitely drop) but there's enough quality in our squad to dismantle them all too.Even Sevilla.
 It would be nice for Liverpool to win it though, I think its the only official competition Klopp hasn't won that he's managed in since he arrived. Brighton and Milan are the only credible threats generally to Liverpool in this picture. Obviously can’t still account for who’s gonna drop down from the CL but Liverpool are ahead than other team to win the title. |
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However as your holdings of Bitcoin grow and our goals evolve, other strategies such as buying on dips and lump sump buying start to appear more appealing.
I'm not necessarily endorsing any of these types of strategies, I'm more of a dollar cost averaging/long term holder kind of a guy, but if you do insist on gambling trading then you should be more careful. Maintain a unique strategy would be a good idea but when you think you want to adopt other kind of strategy because you feel your good at DCAing you might lose what you have accumulated for years.... ITS NOT ADVISABLE! |
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OP, there are many things' people do for fun but later ended in what has been generating income for them. People get paid to play games online using Xbox or PES, most content on YouTube are also fun content but YouTube get them paid. I do not advice that gambling is good and all that what am saying is that it is a choice and if a person gets his income from there then it's obvious his good at it and he can continue.
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The only things I've learned from the previous cycles is that bitcoin is the king and all the rest are shitcoins that come and go and that there's no bad moment to buy bitcoin, as it eventually surpasses all earlier highs in a perpetual uptrend. There's really no special plan or anything, but being stubborn and patient when it comes to my bitcoin. My strategy is to buy as much as I can of this great thing and hold it for as long as I can because... It's going up up forever Laura. This is my focus today, to accumulate as much as I can and do DCA whenever I can. That way, when everyone else is selling and making decent profits, surely I'm also having a great time as well. I am impressed with the fact that you and I have similar thought. I have entered in various discussions on speculating bitcoin and one strategy that has really worked well for me is DCAing. TBH I have little experience on bull market because I was a late investor. But I have accumulated a lot in this bear market and am curious waiting for the next bull run. Even then, I'll stick with the strategy I've learned so far. |
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This is pretty fascinating. Bitcoin has been growing really fast, and it's likely that by 2030, there will be twice as many people using Bitcoin. But here's the thing, even though there will be a lot of addresses holding Bitcoin, only a few will be holding it for a long time.
About three years ago, Bitcoin's total value went up to around $80 billion, which was even more than Facebook's value. It jumped by almost $100 billion in just one week. During all this time until now, many Bitcoins have been lost and can't be used anymore. So, the traditional market cap numbers are not very representative of what actually exists.
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I don't think it's a good idea to let them learn the hard way. As you mentioned, he's your younger sibling, and you have more life experience. You've probably seen different scams like Ponzi schemes before and can recognize them. It's better to advise him and let him know that he could get hurt if he doesn't leave that Telegram channel. Sometimes, they ask for a withdrawal fee before you can take your money out, but we know it's a scam to take even more after you've already invested.
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Thanks for accepting me sir, I have successfully wear the signature  |
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Sorry if it disturbs your discussion, lately I often hear how almost every time I meet my friends talk about investing in Bitcoin in the DCA way, I am curious and finally know the general description of DCA, which is to allocate a certain amount of money to invest regularly as you said. Does DCA here have to be supported by stable finances? for example, having a steady income from work which can later be used to invest more regularly.
I say that because my friend's discussion with his financial condition was clearly inappropriate. I mean, their income is unstable but investing the DCA way.
What do you think the ideal DCA looks like? I really need advice because I have been studying Bitcoin for a long time, my income is quite stable for now. It would be very profitable if this financial allocation was invested in Bitcoin. As long as I know the risks, I believe Bitcoin will be useful in the future and institutional adoption is also currently increasing. As someone who is interested in investment strategies, you definitely need the right method.
Its interesting you ask for advice. During the previous bull cycle I was kicking myself for being too conservative DCAing and not just trusting my instincts about Bitcoin. Now, during this bear cycle, I'm thankful I was prudent and didn't go balls deep buying Bitcoin, so I still have plenty of water in the tub to DCA at these lower prices. So basically, in my experience no matter what you do you'll have some regrets after the fact with the benefit of hindsight, but I think the safer more conservative route probably results in less extreme regret... So I'd say steady, sustainable DCA is the way to go. |
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Are you buying dips? Are you DCA'ing? Are you lump sum buying? are you just waiting? or some combination of those? Pray tell. DCAing is my best options, Always better buying in these times than in ATH territory tho. I bought the dip last night and going to buy some more tonight. I know it ain't that much but I can't miss these bargain basement prices. At times every time I buy it dips a lot more. What I am just learning is to just buy much smaller amounts that way I am not losing as much as I was before, am not really bothered tho because am holding for long |
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I wouldn't like to repeat a similar comment that I already shared on a similar topic. The best thing for me to do is to provide you with the link to my previous response, so you can familiarize yourself with the tips I mentioned. Link to the commentGoodluck to you buddy! |
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