I respect your theory of dollar cost averaging and "investing" over time and all that stuff and would say that is quite a safe strategy, but your style/theory doesn't apply to everyone..
Trading is also NOT a way to accumulate BTC or wealth.
trading should not be a means to accumulate BTC
Trading is also NOT a way to accumulate BTC or wealth.
trading should not be a means to accumulate BTC
you should not be planning on building your BTC wealth based on trading
This is a good thing to tell newbs but I don't consider it true for me at all..
I have only ever bought $100 worth of BTC in my life!!! In 12/2017 at the same time I sold about .8 BTC for $$.. Thinking about buying some back..
I have NOT "bought in" to BTC/Crypto EVER.. Ever ever..
In 2014 I got 0.01BTC for FREE from a friend sent to my Cryptsy account.. That's all.. Just 0.01BTC worth around $5..
Between then and the time Cryptsy crashed I traded that 0.01 BTC into over 2 BTC.. Trading ONLY.. Thousands of trades bro.. I wish that never would have ended..
I sold a decent chunk of that for car parts like an idiot @ <$500/BTC.. So stupid..
Traded Polo mainly for a while after that.. Handle there was "SatSnatcher".. Scalping satoshis.. Always scalping satoshis..
Went into arbing altcoin exchanges for a while.. Made meager profits..
Then I made some nice profits TRADING XCP assets, lol..
Think I did about 400% gain on what I put into Huobi...
Dude I have probably LOST on 2,000+ trades easy across many many exchanges, but won more that I lost with a good risk/reward ratio..
99% of ALL crypto I have ever owned has ALL been made trading exchanges.. ALL OF IT!! I've never bought anything..
I got into crypto TO TRADE.. I didn't know shit about crypto, didn't know shit about trading either, but
I wanted to try trading, and I fell in love with Bitcoin..
You don't have to believe me but I'm telling you that that is the god's honest truth..
Check the date of this post I made..
I started with .01 BTC and made over 14,000% profit my first season (winter) trading.. Thousands of trades..
One of my first few posts on Bitcointalk..
And when I said that I meant that I increased my
BTC stash by 14,000%, not $$ or anything else..
I have always only traded to increase my BTC stash no matter what, no mater what that meant in $..
You can say all you want that "Trading is NOT a way to accumulate BTC" but that just is not correct 100% of the time..
Trading has been MY way of accumulating BTC and I am proof otherwise..
I have never made much of shit lending here or with signatures or anything.. Anything I have made on Bitcointalk is very insignificant.. I haven't been paid for a signature here in YEARS..
"Investing" $20 a week into BTC seems silly to me WHEN I SHOULD BE TRADING..
I am not very risk-adverse..
I have been poor, I have been homeless in a shelter, I have been to jail, I have lost everything, I've been there..
I look back on it now as a fun and adventurous time of my life.. It taught me that I can do almost anything.. I can bicycle through a city in a blizzard.. I can hike miles.. I'm confident that I could be dropped off in any city in America with absolutely nothing and figure out how to make it work..
I can hardly believe what all I can do if I just decide to do it.. I can come back from anything..
I have also worked some of the most demanding jobs imaginable.. I can go work 100 hours a week across the country if I want to, on remote well locations, and bank.. I've worked in the Detroit ghetto where few dare to go, and you eat lunch at bulletproof Taco Bells that have obviously been shot up a time or 2, shots all still in the glass.. I'm not scared to do it again if I need to, but I don't like to spend my life that way..
Just another excellent adventure, but it gets unpleasant after a while..
That is a good thing that you are able to live without a lot of expenses, and likely means that it should be easier to reach your goal.
I am a very self-reliant person.. What most people spend money on I do myself..
I can work on/fix almost F'n anything.. I'm a bit of a collector of tools..
I also don't waste my money buying trash..
I only like to buy things that last forever, are useful, and hold value, as much as possible.. I like classic/vintage stuff over modern junk anyway so it works well..
ideology should not be your central motivator
Some things are more important than money..
As far as Debt..
I have plenty of assets other than Bitcoin that could easy be sold to pay off all of my debt..
I could sell less than half my cars alone and be debt free.. I don't owe a cent on my property and it is worth many times what my "debts" are, or cars..
I could go work like a slave for a couple months and pay it..
No big deal..