In your recent posts, even skimming through your ramblings, you seem to have been somewhat in agreement with the message that there is value in gaining some stake in bitcoin... so for sure, any newbie in bitcoin has to determine how to get started exactly and then to create a somewhat reasonable approach towards building such BTC stake based upon his/her own assessment of his specific individual circumstances.
I doubt that anyone of us can push anyone towards how they engage in such early stages of BTC accumulation, even though DCA seems to be amongst the best of place holder approaches, and for sure lump sum investing and buying on dips can have some risks in terms of the possibility that the BTC price could go down before it goes up. There are ways to balance all three approaches, but likely ONLY after some internal assessment of ones own individual circumstances which includes looking at cashflow, other investments, timeline, view of bitcoin as compared with other investments, risk tolerance and time, skills and abilities to plan, strategize and to learn along the way, which also may well involve tweaking strategies along the way, too.
There's also an element of determining establishing initial BTC stake - and then once achieving such initial BTC stake - which also could take a year or more to establish... then to determine how to manage such stake.. or to perhaps adjust the stake upon reassessments. An initial stake could also involve putting 1% to 25% of overall investment portfolio value into BTC, and for sure the amounts are quite discretionary including that each individual might well end up having quite a different approach from another individual based on some minor differences in the individual circumstances (as I have already mentioned above).
Capisce?
"owning BTC is a winning strategy" fuckin' aye it is... 100% , zero argument from me..
I am pretty much a permabull
longterm for BTC, in case anyone forgot or didn't know, or it was not clear... but then , it is not religion, and it is ok to discuss what it is, isn't, could be, wont be , etc
It is ok, for someone to point out that someone is currently down on their investment, such is the nature of the beast, especially this beast, volatility is its middle name.... and one of the reasons we love it, embrace that shit.
ps, for all we know the buyer was one of the sellers in the $67K+ region
One thing you'll notice, unlike over on /wallstreetbets where the ape knuckle draggers actually whine and revel in being down/losing on their stupid bets, we .... don't do that here on the WO. Because investing in bitcoin is all about long term #winning. It's all about sucking it up, putting on your big boy pants, and playing the long game.
I am not in complete agreement here. I do agree that whining is not productive, because surely we need to take responsibility over whatever approach that we took.
I would imagine that anyone with a lot of capital who heavily invested in BTC with a lump sum approach upon a price rise (or near our current ATH) should realize that there is quite a bit of risk in that kind of an approach.
I am guilty of starting my BTC investing towards the top of the late 2013 BTC price rise, so I know how it can feel to start investing towards the top.
For sure, I got razzed a lot about my initial BTC purchase in late 2013 that was at $1,200 (and the BTC price on stamp had ONLY gone to $1,163, so I had started buying at higher than the top - based on fees, etc).
For me, when I first got into BTC, I had established an initial 6 month budget, so I had a limit in how much I could spend each week on bitcoin purchases (which was about 1/26) of the whole 6-month budget, and I will admit that when I was first examining getting started with my first BTC purchase, I was a bit anxious about getting some kind of a stake in BTC, so on that first BTC purchase, I spent more than 1/26 of my whole budget, and in that first BTC purchase, I had spend close to 1/20 of my whole 6 month budget just to make that first purchase, which would have been spending more than 1 weeks allowance (authorization to buy 1/26 of the 6-month budget per each week). because to some extent, I wanted to frontload a little bit of my initial investing into BTC approach in order to get some kind of a seemingly meaningful and significant stake in the BTC game (get off of zero, in other words)....
So there are ways to deal with some level of overexuberance that any of us might feel from time to time (which has been come to be known as FOMO), and of course, I would be able to understand that even for me, it would have been more stressful to have had lump sum invested into BTC and for example, if I had blown my whole 6 month budget in late 2013 at around $1,200 per BTC right from the start. and not had any cashflow available to buy more BTC for that whole time that BTC prices continued to go down until after the 6 months had passed.. .which sometimes it is the case that if you spend all the money in your authorized amount, you have no more money to spend (absent some kind of a rethinking and reauthorization - which might be another hurdle to get passed for anyone with either rational thinking or anyone who may actually have physical/fisical limitations in the action money/credit that they might even be able to get at any point in time), and then at that point if I would have blown my whole 6 month wadd, I would have to reassess if I have more in my budget or not for the subsequent 6 months (if that were the case that my initial investment amount was my whole investment budget for those 6 months)....
Living with consequences of decisions surely should be a part of any reasonable adult investor's disposition, and formulating back up plans surely would be better than whining. Whining surely is not a very respected trait in these parts, even if many of us realize (even through personal experiences) that sometimes mistakes are made along the way. I get a bit skeptical of some of the posters who actually attempt to present their own BTC investing history as if they had not made any mistakes along the way, and maybe mistakes are as inevitable as BTC price volatility.. hahahahahaha.. Actually, I might be exaggerating, because there is a whole hell of a lot of variance in the level and kinds of mistakes that are made - and I suppose part of my argument remains that there continue to be ways in which any of us should be able to plan and to strategize in ways to lessen the magnitude, frequency and even impact of the mistakes that we do likely inevitably make along the way in order that we do not reach the level of "whining" when we are assessing what we did, what we are doing, what we could have done better and how we might tweak what we are planning to do in order to learn along the way, including learning from our mistakes - and hoping that our mistakes our not so BIG that we get put out of the game - or are irreversibly negatively impacted from them.
Edited: Added some clarification and substantive fleshing out - especially in the last two paragraphs
Poll
