[edited out]
It's true that saying something is more accessible than doing it in practice. But we are talking about investing in Bitcoin and following the DCA method. I don't think you have to know rocket science to follow some simple steps.
I don't know if that is what we are talking about.
We could be talking about financial management, risk management and even tailoring your approach in regards to howto get into bitcoin. Not everyone is going to follow a DCA method, even if DCA may well be amongst the best of BTC accumulation strategies for a lot of people, but DCA is not going to necessarily work for every person.. so I doubt that it is mandatory that everyone would follow the same or a similar strategy towards getting their BTC position or even attempting to maintain their BTC position.
Another thing is that not all people who are involved in this thread are involved in bitcoin as a long term investment strategy, and some members believe in trading, and so even if some of us might believe that various kinds of long term approaches and BTC accumulation would be best to strive towards meeting individually tailored goals, not everyone believes in that either.. including that if there might be some seemingly "simple steps" in regards to managing cashflow and expenses and figuring out other individual variables, there are a lot of ways that guys (and gal) can screw things up, even if screwing it up might not have had been the goal
Just as a reminder it is my point of view that when anyone invests into bitcoin, at minimum s/he should be attempting to consider cashflow, how much bitcoin s/he has already accumulated, other investments, view of bitcoin as compared with other investments, timeline, risk tolerance, and time, skills, goals (investment/lifestyle targets) and abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time to consider trading, reallocating, use of leverage and/or financial instruments.
It can take a long time to figure out each of the subcategories within the above-outlined individual considerations, yet no one has to figure them all out at one time or before getting started investing in bitcoin.. and accordingly any person could start by investing relatively small amounts into bitcoin or investing some amount that s/he believes to be reasonable and prudent - and continue to study his/her own circumstances along the way, and perhaps tweak his/her investing strategy from time to time along the way, as s/he is learning.
The first considerations within the above list are more basic, and the later considerations on the list are more advanced, so of course, on a personal level, each of us should be attempting to strive to get the basics in order (and understood - even if we believe them to be "easy peasy" before getting into the more advanced strategies and techniques.
Moreover, we are living an easy life compared to the old days. Remember how hard it was to use Bitcoin in the old days? The user had to run a node to use Bitcoin. We are doing nothing compared to them.
That seems to be a different point.
There has always been some geographical variation in terms of how easy (or difficult) that it might be to get BTC or exposure to BTC, and yeah of course, the very earliest days would have been more difficult than they are now, but even now, there can be some challenges in terms of getting BTC or getting exposure to price and/or making sure that you are not holding your keys in ways in which you might end up losing most of them if not all of them, and I am not even proclaiming to speak for the many variation in circumstances that any guys (and gal) might end up facing, including if there might be some desires to attempt to transact in it or just try to keep value in cold storage, there can also be various difficulties in terms of figuring out which ways to store (and transact) with bitcoin.
By the way, I got into bitcoin in late 2013, and I registered on the forum in early 2014, and it appears that you registered on the forum in April 2019, so I am not sure if you might be referring to some time prior to 2019 in terms of your reference to "the old days." In other words, I am not sure exactly what your time reference would be in terms of what you consider to be "the old days" or even if you might be referring to some specific geography (jurisdiction) too because even in the USA, there can be a lot of location variance that affects BTC acquisition choices and/or experiences, too... still is the case.
Perhaps one of the most frequent problems that people have is a kind of failure to invest that goes along with a kind of eagerness to either take out profits from time to time and/or failure to keep investing in order to be able to enjoy some of the benefits of compounding, which many of us likely realize that the compounding has exponential aspects that fold upon themselves, but still are likely to take more than just a few years to play out.. so compounding gets bigger and Bigger and BIGGER .. so the first few times that you might get a doubling of your investment portfolio (whether in nominal terms or in real terms) might feel good but then when such doubling comes down the road later, the amounts can become somewhat staggering, especially if you might have had several doublings stacked on top of each other.. and the mind becomes somewhat unable to recognize and appreciate how those amounts had ended up growing so much even though they might have had started out with ongoing small, persistent and consistent contributions that might not even have had been very noticeable while they were taking place in the earlier stages of the investment... so there are a lot of occasions that people will pull out way too much of their value from their investment(s) - whether BTC or otherwise - and pull out their principle too early and thereafter fail to experience the various doublings (or the exponential/compounding aspects of their investments)...
so that is the problem with failing to invest enough..
You have to know the management. I never suggest anyone invest a considerable amount. I suggest investing the amount that may not care too much.
Perhaps you are saying something similar to me, then? There can be a quite a bit of variance between people in terms of how much discretionary income that they might have, how much they have to invest (other investments).. and a lot of particulars along the way... that I had already mentioned individual particulars that can affect how guys (and gal) choose to invest into bitcoin, if at all (which might have presumed that they already gotten over the hurdle of seeing the value in investing and acting upon such information to choose to invest into bitcoin rather than investing somewhere else and/or failing/refusing to invest in bitcoin or anything else for that matter).
Let's say someone makes $100 per month. I won't suggest he invest more than $20. He might not care about this money. Always keep some fiat for emergencies so you don't have to touch your BTC when you need money. I mean, Why would you sell your coin at a loss? Of course, if you need emergency cash, You will likely sell your coins. If you sell your coins at a loss, it's an actual loss. But, if you keep holding, that's an unrealized loss. You will eventually recover your position.
Nothing wrong with those ideas, even though it is ONLY involves a few considerations that any person might have when both choosing whether to invest into bitcoin, how much to invest and even considering if s/he might have some kinds of investment targets, so it may well be pretty easy if the investment target is to invest $20 per month for the next 12 months, and then after that don't do anything, but it may be a bit more involved if the timeline for investing might be longer and there might be needs to reconsider budgetary considerations and even whether the investment targets (goals might have had changed based on having had acquired a bitcoin position as compared to a presumptively no coiner status that might have existed prior to getting involved in bitcoin investing).
and another angle is investing too much and getting too far over one's skiis.. and so over investing has to do with poor cashflow management (and sure sometimes bad psychology too), and if there are not enough preparations for safeguarding various times that cashflows can become short, and then there are times that these people are forced to have to cash out of some or all of their investment at a time that is not of their own choosing because they failed to adequately account for cashflow shortages down the road that might come from investing in bitcoin today... so then maybe the cashflow shortage ends up coming in 6 months because there was a failure to keep an adequate cash (liquidity) cushion or to keep some cash in locations that could be drawn upon during those later down the road cashflow shortage periods that are quite likely to come, and some aspects of the cash shortages might be foreseeable and some aspects might not be foreseeable.
Here, I would say the same thing as I said in already. It's all about money and risk management. Nobody knows your worth other than you.
Fair enough.
Don't take suggestions from anyone about how much you should invest and how much is not.
No problem regarding that, either, if you feel that you have enough information to make various kinds of decisions regarding what to do, and then to act upon such decisions, including the fact that you seem to be suggesting that the person has to take responsibility over his/her decisions, even if some of the ideas might have been learned from teachings of other people, unless the person just knew everything about life (and bitcoin investing) at the time s/he was born, then that would be a different story to have a genius that were to exist right from the time of birth.
Work on your money and risk management. It's not wise to invest high and then panic. If I know I won't have any issues if I lose thousand dollars, I can invest in Bitcoin without fear if I have patience.
Sounds like you got it all figured out.
That's good.
Many of us should be way more informed about what to do and how to do it after we have been doing it for 4-10 years, than someone who is just starting out, so then if we have been investing for 4-10 years or longer, then our accumulated position might contribute to our needing to revise our approach based on our having more assets (hopefully including a decent portion of BTC) to help inform us better how to continue to go forward from there, whether it is continuing to accumulate BTC or going more into a maintenance mode, rather than an accumulation mode... and even reallocation decisions might become more relevant for a 4-10 year (or more) veteran as compared to the beginner who might not have anything to reallocate because s/he has not built hardly anything materially meaningful yet... getting up to 1 year or more living expenses (or cashflow) into your investment portfolio starts to become significant/meaningful as compared to the beginner who might contemplate whether to invest 10% to 25% from one pay check that is hardly shit in terms of portfolio building... because 10% to 25% of one paycheck might only constitute somewhere in the ballpark of 1/100th to 1/500th of the annual cashflow... so even by itself, the one investment might seem like a large amount, but it is not really adding up to a significant/meaningful amount of money until it gets to a sizable amount in terms of what that specific person's annual cashflow situation is currently expected to be and then also accounting for what such cashflow expectations might be in the future as well.. There are quite a few places in which normies can end up making mistakes in these various calculations regarding what to do and how BIG of a position size might be reasonable in order to attempt to go in the right direction in terms of accomplishing their goals, whether that is merely to improve their living circumstances, get to fuck-you status or some variation of those kinds of considerations that might merely be to maintain their current living status but not having to work (which is actually an improvement.. hahahahaha.. keep the same living standard, but not having to work.. doesn't that sound good.. and easy peasy to accomplish?)..
Too many words, and I don't understand where to start. LOL.
Starting from the beginning might not be a bad idea... Just like in the Wizard of Oz.
I agree with what you have said. No, I don't think it's an
easy peasy lemon squeezy thing
. You know that little Kid
. Sometimes reallocation could fuck you up. But it won't last long if you can profit at a reasonable price. It depends on the situation. Buyback at a low price will surely help you accumulate more Satoshi!
So ? Now we are agreeing that the road to richie status
(or whatever might be our individual goal(s)) might not necessarily be easy-peasy?
Poll
