Hahahaha
Remember Vinny Lingham from early 2017? For some reason Lingham had a lot of credibility at that time..
and lingham was predicting doom and gloom and sub $500 was inevitable blah blah blah.. .. saying that he was still bullish bitcoin.. but saying that too much negative price pressures and a need to go down before up..
O'Leary kind of reminds me of that.. .. trying to milk their reputations and act like they know fuck all.
Same thing happened in the us when trump supporters stormed the white house, Fun times indeed
When was this?
Well White House , Capital Building what's a few miles difference in location?
Yeah you get the point
Exactly.. somebody stormed something for some reason. and it was like a political thing.. or maybe not.. it was so long ago.. who can remember details?
Well.. the lump sum buying and just waiting can work, but it tends to make people nervous..
that is why lump sum might be better if it is supplemented with DCA and maybe even buying on dip..
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I've always lump-sum-bought and HoDLed. Except that the lump sums were coming every few months from 2015 onwards. Is that called DCA? I never really looked at the price, fiat never stayed in my hands or the exchange for more than a few days. Market buys only. Has worked out well for me. Average break-even price is under $2k.
It is a bit funny how each of the stick-with-it ones of us ended up tailoring a system that was comfortable for us, and frequently they do not fit any kind of exact mold, and sure some guys were way more sporadic than others, and it is not easy to create something consistent and to follow it.
I cannot even blame guys (and gal) if they had a lot of inconsistencies in their way of getting into bitcoin and sometimes figuring it out later (if they did). Most of my 20s, I had investment practices that were all over the fucking place - even though I thought that I was mostly DCA investing into things, but at the same time, I would cash out some of what I had been building and I did not always invest in good and consistent ways, but of course, there was nothing that really even came close to the bitcoin that we have now or even the bitcoin that we have had in the past 9 years or so.
I'm not really sure that it was so obvious that 2015 was perceived as the "opportunity" that retrospectively we realized it to be, but pretty much the whole year you could have bought coins in the mid-$200s, absent the last 2.5 months of the year... So the more that you were able to buy into BTC throughout the whole of 2015, the more that you would have been subsequently realized yourself to have been in a great price set-up location.
So I would call yours a variation of DCA, even though there is a bit of a spacing out of the buying increments, but of course, it does seem to have some lump sum aspects to it, and not so much buying on dip since you are saying that you did not really look at the price - which is kind of hard to believe that you might not attempt to at least be a wee bit strategic in terms of that.. but I can also appreciate the idea of once you authorize yourself to buy then you largely just complete the buy in the range of whatever it happens to be at the time.
I think that one of the more pure forms of lump sum buying is to put decently large amounts of money in to the investment (in this case BTC), and to just subscribe to some kind of a timeline theory in terms of when you might reassess at certain points whether to keep it in or even just to have a longer term timeline that you might let it ride for a year or two before reassessing. Sometimes such a lump sum practice can work - especially if it is bought on a dip and then there is some kind of vision regarding how to invest - even though I tend to think that some variation of DCA does allow for more of an active following approach, especially if there might have been an investment that was not quite at the bottom, and then either DCA on the way down or to at least carry out a few more lump sum investments when the BTC price is lower.. but at the same time sometimes the lump sum investor is so detached from understanding what they are investing in that they might not end up making the better decision, including that they don't have enough confidence to continue to buy more in case the asset continues to go down and they feel like they end up losing more than they had already put into the asset.
Remember we had AverageGlabella who came in and pretty much cashed in a variety of other assets in order to go all in at around $35k earlier in this year .. and so for that member there was a lot of thrill when the BTC price went up to the upper $40ks a few times, but then a month or so ago AG came back when the price went back below the bought price and was worried and maybe even excessively worried which is a sign of potential overinvestment (and even failure to have
more money to invest either financially or psychologically), and surely there is some level of radio silence from AG, even though I am pretty sure the member is continuing to hold, and we have a pretty good idea that AG's portfolio went pretty far under water (even now), and just like mindrust did not show any signs of mindrusting until it happens.. I would imaging that most members are not going to post when they end up mindrusting (if that ends up happening). We can never know, and only the member knows how to attempt to handle the situation and if they are able to buy more (psychologically and financially) of if some other action might be needed or desired (and sometimes members will do something that is quite contrary to recommended best course of action), and in those situations, if you believe in BTC, I get the sense it may well be better to continue to buy - even small amounts.. but I am in a different place and each person has to decide for himself/herself (considering psychology and finances).
I take it that you are still buying every few months... $2k is a bit of a high price for someone who got in at $250-ish.. but it is understandable too... we have right around 1.5 years of BTC prices higher than current prices.. Holy moley!!!
I guess I got lucky, going in at the deep dip of 2015. Thank you, Andreas Antonopoulos, that talk of yours that I watched was so enlightening that I did not sleep that night. I had to find a way to buy. And I did. At a local Bitcoin ATM. Great times.
tl;dr: There is no top. Seriously. Buy now. Buy Bitcoin. HoDL.
There seems to be luck, persistency, consistency, patience... and maybe some critical thinking and ability to control emotions.. but for sure, I am not going to discount luck.. we have had the conversation before, and there is a certain amount of luck in being in the right place at the right time.. and fuck none of us are likely so damned lucky that we bought at the bottom and sold at the top and the various other kinds of gambling luck set, but we likely have several mistakes along the way, but just enough luck that we are in a position that is likely way greater than it would be if we had not had some luck along the way.. even while we had some times of sweating our balls off too.. hahahaaha.. speaking for myself... and just imagining that there are some stressful times about what to do, exactly,... even when things are going relatively good and even when there is already a plan in place.. tweak or not.. let it ride or not.. .. and some people might be calling you dumb sometimes too.. hahahahaha. you should have sold at $69k.. or whatever..
What you going to do? what you going to do?
By the way, recently I just partially bailed someone out (a gambler.. too much with third parties.. and enticement of the "yield" with an asset that is designed to pump forever.. why you need to chase those systems? yields...).. .. I am not exactly cash abundant at the moment.. but it was likely the right thing to do.. fuck.. . I know another person too.. and I was afraid to ask.. that person did not say anything to me.. I did no say anything to that person..
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