@jjg..your comments about my holdings are a bit strange. I never disclosed it, so you basically circle-jerk yourself talking about this. The number you keep referring to was one of the hypotheticals that I posted to indicate that you didn't need a lot of money in 2014-2015 to have a decent sum now, but I never said how much I personally got, so let's just drop the subject due to the number being discussed being based on your vivid imagination and nothing else.
It is not based on any kind of vivid imagination, but it is used to attempt to illustrate reasons why you seem to have had so many defective ways in your thinking through the years in terms of your seeming desires to want to denigrate DCA and various kinds of appreciation of the concept of some guys having had overinvested. You have troubles with the concept of overinvesting in part based on your own emphasis on lump sum investing and buying on dips... so the example makes some decently good points that are ongoingly applicable.
Don't deny that you are inclined to emphasize both lumpsum investing and buying on dips, and for sure I don't have problems with those as potential complementary strategies - and I almost continue to assert that DCA is amongst the most powerful of strategies for normies.
Of course, many of us likely know that bitcoin's price history could have a certain amount of justification for lump sum investing, so for example, if a mature investor came into BTC in 2014/2015, and perhaps had an investment portfolio of $500k and was contemplating both how much to allocate, and how to go about allocating, such person might decide to lump sum invest at a certain percentage of 1% to 10%, which would be $5k to $50k, but that same person might decide to supplement such investing strategy with a DCA approach... which also could help the guy to study the matter while he is taking some initial position that might be of a lesser amount.. let's say $1,200 per month (or $400 per week).
We also likely realize that a lot of normies might not have a lump sum that they have available that they could just throw into BTC, so DCA also may well work pretty well for them for a variety of reasons - including that they might be willing to take a more aggressive position into bitcoin if they spread out their investment through something like DCA... so that had been one of my ongoing criticism of you too, because you seem to have been ongoingly criticizing concepts that involve attempting to follow somewhat blind systems such as DCA.. so you believe that there is a preference to to attempt to time the market.. and frequently I am contesting your various assertions in that direction and also pointing out that you seem so inclined to denigrate some of the most powerful practices in bitcoin, which would be acting without trying to time the market.. such as DCA would provide that...so yeah, an investment of a lump sum of 20 BTC remains a very good example of that... in which there are many ways to criticize such an approach as inferior to a strategy that also supplements with DCA.. even if there might not be any exact perfect strategy.. DCA remains quite powerful..
I also remember that at one point i was also referring to 0.03 btc being a decent number based on average per earthling being able to buy only 0.003.
I don't have any problem with people doing what they can, and surely if any person has been into BTC for 8 years like you (and me), there should be some attempts at figuring out various strategies, and sure I am not even assuming that mistakes have not been made along the way.
So, yeah perhaps in 2014/2015 there were a decent number of regular WO members who may have been shooting to accumulate 21BTC or more or even to keep accumulating beyond their initial goal, even it could have been 100BTC or more.. depending upon where/when such member started to accumulate BTC and what means might be available to the member to also figure out his own budget and psychological and financial circumstances.
In 2017 maybe many of the newbies had to reduce their initial BTC accumulation target to 10 BTC or less.. and sure maybe these days there have been reductions in the accumulation targets of newbies such as sub 1 BTC or even to start out with something like 0.21 BTC which also might be difficult for some members to reach, but they should attempt to do what they can and what is reasonably within their grasps.. if they start with 0.003 BTC or 0.03 BTC like you suggest, and maybe such newbies can still keep working on ongoing BTC accumulation, and sure it could take a while to get to their targets levels or to create new targets once reaching lower level targets that are hopefully reachable, and I will still assert that DCA is amongst the most powerful of strategies for the vast majority of newbies who may not even be close to sophisticated enough to figure out timing of tops and bottoms or other kinds of concerns that many folks cannot figure out, even if they have been in BTC for many years.
Although
aysg76 has only recently begun posting his weekly DCA strategy since July 2021.. that is relatively modest in amounts, but after only a mere 5-6 months, he shows that so far he has been accumulating BTC.. and sure it may well seem modest, and also those BTC cost way more in 2021 than they would have cost in 2015, 2017 or some time before September 2020.. but people still can do what they can do.. or they do whatever they are ready, willing and able to do.... which is going to differ from person to person, and surely I would argue that any amount of BTC accumulation is likely to put guys in more powerful positions 4-10 years down the road.. even without guarantees.. but surely some personal tailoring and learning along the way, too..
Examples are just this: examples. Do bots get it or it is too much to expect?
btw, your "peepered for Uppity" line is getting stale.
anything new?
I sense that sometimes it is good to repeat themes, and I would hardly even come close to admitting that I have not evolved some of my ways of discussing some topics over the years. Surely new for the mere sake would not necessarily be a good thing, especially if it is not based in decently solid facts, logic and even experiences and attempts at informed observations.
@jjg you outdone yourself here haha.."bitcoin is 1000X better than gold, so it has to cost 1000X of gold".
well, light microscope is 1000X "better" than a human eye to see relatively small objects, so it has to cost 1000X of the eye, right?
it's hilarious.
I don't know if you are misquoting me, yet I do not see anything wrong with what I had said. You do not need to agree with the various premises, but I believe that they are reasonable.. even if it could take 20, 50 or 100 years to play out.
In other words, if bitcoin is currently priced about 1/10 of gold, then if bitcoin is in the neighborhood of 1,000x better than gold, then there is some logic that bitcoin has a price potential to appreciate 10,000x from here.. again it could take 20, 50 or 100 years to get there.
The scenarios of BTC reaching gold parity or even exceeding gold's value by 10x or 100x are easier to get to, yet they are still not a given even if they could play out in this cycle or 2 to 3 cycles down the road... so if BTC were to reach 10x gold's value then that would be about a100x price appreciation from here.
Anyhow, maybe I am getting a bit repetitive, and seems that I already made my points and stated my various premises for arriving at the various numbers that I threw out there.
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