A Saving Plan

[luca1073]

when you talk about dust would you consider 0.01 BTC dust? i don't think so but I ask.

It's not dust in the sense that it still has/had value at high fees. Last December, fees went up to 600-800 sat/byte (and shortly even higher). If/when fees go up that high again, each input would cost you 0.001BTC or more in fees, which is 10% or more.
Let's say you have 10 small inputs of 0.01BTC. If you consolidate them now, you can pay 1 sat/byte and get around 0.09998BTC as output. If fees go up to the peak again, you would get less than 0.09BTC. That's why it's so important to consolidate your funds while fees are low, it makes it cheaper to use your funds later on.

In case i wanted to consolidate you advise me for example to send 1 entire bitcoin from my ledger to an other address of my ledger and keep everything saved until now in a new unused address belonging to my ledger nano s? I never did that just asking if it is worth it to anybody that knows here

Will it take long for Ledger nano s to consolidate everything to 1 address?

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[LoyceV]

In case i wanted to consolidate you advise me for example to send 1 entire bitcoin from my ledger to an other address of my ledger and keep everything saved until now in a new unused address belonging to my ledger nano s?

I have no experience using a Ledger, so can't tell you the details. If it's possible to select which inputs to use, you can manually select just the small amounts. There's no need to put all your funds in one output, you can keep several larger ones in different addresses.

Will it take long for Ledger nano s to consolidate everything to 1 address?

It's just a normal transaction; it takes as long as any other transaction.
However, if you're not in a rush, it's worth using as low a fee as possible. It can take longer to confirm, but you pay less fees.

Just make sure to double check the address you're sending to, but that's a warning that applies to all transactions you make.

[Capt00]

I have a small plan and i would like to ask your opinion about it. I have already accumulated approx. 1 BTC by buying small amounts here and there (also through faucets) but constantly. I have approx 0.70 btc in other crypto(bought cheaply in the past) but i plan to exchange in btc later if needed and if worth it. My actual plan is to buy daily fractions of btc ad long as price stays below 10.000$ / Btc and stop if and when surely it will go above that level. Basically i' m taking advantage of BTC "cheap" prices to speculate on the future value (probably a few Years) for future spending, selling, or simply storing it. What do you think about it? I want to set a limit somewhere and i think if price stays above 10.000$ it will mean that banks and institutions will have entered the market already and i will simply enjoy the profits. Does it seem like a good plan? i really believe that Bitcoin will become very very valuable in the foreseeable future.

This is a very good plan, I personally do this when my salary comes I set aside an amount of money then invest with it.
Investing a small fraction until you made it 1 bitcoin is a good motivation to others especially in holding bitcoin in a long term.
Yes, no doubt with Bitcoin technology I also now starting collecting on this coin.

[luca1073]

In case i wanted to consolidate you advise me for example to send 1 entire bitcoin from my ledger to an other address of my ledger and keep everything saved until now in a new unused address belonging to my ledger nano s?

I have no experience using a Ledger, so can't tell you the details. If it's possible to select which inputs to use, you can manually select just the small amounts. There's no need to put all your funds in one output, you can keep several larger ones in different addresses.

Will it take long for Ledger nano s to consolidate everything to 1 address?

It's just a normal transaction; it takes as long as any other transaction.
However, if you're not in a rush, it's worth using as low a fee as possible. It can take longer to confirm, but you pay less fees.

Just make sure to double check the address you're sending to, but that's a warning that applies to all transactions you make.

Thanks!

[luca1073]

I have a small plan and i would like to ask your opinion about it. I have already accumulated approx. 1 BTC by buying small amounts here and there (also through faucets) but constantly. I have approx 0.70 btc in other crypto(bought cheaply in the past) but i plan to exchange in btc later if needed and if worth it. My actual plan is to buy daily fractions of btc ad long as price stays below 10.000$ / Btc and stop if and when surely it will go above that level. Basically i' m taking advantage of BTC "cheap" prices to speculate on the future value (probably a few Years) for future spending, selling, or simply storing it. What do you think about it? I want to set a limit somewhere and i think if price stays above 10.000$ it will mean that banks and institutions will have entered the market already and i will simply enjoy the profits. Does it seem like a good plan? i really believe that Bitcoin will become very very valuable in the foreseeable future.

This is a very good plan, I personally do this when my salary comes I set aside an amount of money then invest with it.
Investing a small fraction until you made it 1 bitcoin is a good motivation to others especially in holding bitcoin in a long term.
Yes, no doubt with Bitcoin technology I also now starting collecting on this coin.

Good i definitely don't feel alone in this

[greeklogos]

The plan doesn't seem to me as a bad one. I think I would do exactly the same if I would own as much crypto as now you do. I am totally agree with you that bitcoin's coming back to the Olympus may take couple years and we should to use every opportunity to earn on future's "moon" price.

[Dilerium90]

I have a small plan and i would like to ask your opinion about it. I have already accumulated approx. 1 BTC by buying small amounts here and there (also through faucets) but constantly. I have approx 0.70 btc in other crypto(bought cheaply in the past) but i plan to exchange in btc later if needed and if worth it. My actual plan is to buy daily fractions of btc ad long as price stays below 10.000$ / Btc and stop if and when surely it will go above that level. Basically i' m taking advantage of BTC "cheap" prices to speculate on the future value (probably a few Years) for future spending, selling, or simply storing it. What do you think about it? I want to set a limit somewhere and i think if price stays above 10.000$ it will mean that banks and institutions will have entered the market already and i will simply enjoy the profits. Does it seem like a good plan? i really believe that Bitcoin will become very very valuable in the foreseeable future.

In the world of cryptocurrency, as on other financial exchanges, you cannot be sure of anything and in any case you participate in high-risk investments, but I like your plan. I would do the same.

[South Park]

I have a small plan and i would like to ask your opinion about it. I have already accumulated approx. 1 BTC by buying small amounts here and there (also through faucets) but constantly. I have approx 0.70 btc in other crypto(bought cheaply in the past) but i plan to exchange in btc later if needed and if worth it. My actual plan is to buy daily fractions of btc ad long as price stays below 10.000$ / Btc and stop if and when surely it will go above that level. Basically i' m taking advantage of BTC "cheap" prices to speculate on the future value (probably a few Years) for future spending, selling, or simply storing it. What do you think about it? I want to set a limit somewhere and i think if price stays above 10.000$ it will mean that banks and institutions will have entered the market already and i will simply enjoy the profits. Does it seem like a good plan? i really believe that Bitcoin will become very very valuable in the foreseeable future.

It is definitely a plan that will work and since you have accumulated that amount of bitcoin for a long time I am sure you are not going to have any problem holding your coins unlike many members here, just remember to make an effort and remain constant, it is very easy to think the price will remain like this forever but when it begins to skyrocket again you want to have as much bitcoin as possible because it is likely the next time the bull run comes we will shatter the previous all time high.

[buwaytress]

Always good to come across people similar to myself, who accumulate as much as possible, in really modest sums, over the months and years. Left a professional career that lasted most of my adult life and this more or less coincided with my switching to earning in Bitcoin - so whatever coin I can set aside after paying the bills and putting food on the table, nice to see it grow (the price now is also a boon, I have faith that they're only a matter of time away from recovering some of their old value).

As LoyceV advises, take the time to consolidate these small amounts every now and then. Honestly, 1 sat/byte won't cost you much every 10 or so input consolidations (that's just my "bar).

Whatever you do, I'd say not to put everything in the Bitcoin basket. Set aside something tangible that you can fall back on and never hesitate using your coins when you need them. I'm a huge believer but unless you have no dependents, nothing is worth risking everything for.

[Febo]

I have a small plan and i would like to ask your opinion about it. I have already accumulated approx. 1 BTC by buying small amounts here and there (also through faucets) but constantly. I have approx 0.70 btc in other crypto(bought cheaply in the past) but i plan to exchange in btc later if needed and if worth it. My actual plan is to buy daily fractions of btc ad long as price stays below 10.000$ / Btc and stop if and when surely it will go above that level. Basically i' m taking advantage of BTC "cheap" prices to speculate on the future value (probably a few Years) for future spending, selling, or simply storing it. What do you think about it? I want to set a limit somewhere and i think if price stays above 10.000$ it will mean that banks and institutions will have entered the market already and i will simply enjoy the profits. Does it seem like a good plan? i really believe that Bitcoin will become very very valuable in the foreseeable future.

For now you should buy until price reaches $50k. When it reach $50k in 2021 you just start spending money that you would use to buy BTC. Treat yourself. Then a year latter when price is around $100k you start buying again.

[luca1073]

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For now you should buy until price reaches $50k. When it reach $50k in 2021 you just start spending money that you would use to buy BTC. Treat yourself. Then a year latter when price is around $100k you start buying again.
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i have the feeling it will be more than 50 K $ in 2021 but i may be wrong .... or maybe it will be 50 k at the bottom of the next bear market

[3la9l_kolbaCa]

I have a small plan and i would like to ask your opinion about it. I have already accumulated approx. 1 BTC by buying small amounts here and there (also through faucets) but constantly. I have approx 0.70 btc in other crypto(bought cheaply in the past) but i plan to exchange in btc later if needed and if worth it. My actual plan is to buy daily fractions of btc ad long as price stays below 10.000$ / Btc and stop if and when surely it will go above that level. Basically i' m taking advantage of BTC "cheap" prices to speculate on the future value (probably a few Years) for future spending, selling, or simply storing it. What do you think about it? I want to set a limit somewhere and i think if price stays above 10.000$ it will mean that banks and institutions will have entered the market already and i will simply enjoy the profits. Does it seem like a good plan? i really believe that Bitcoin will become very very valuable in the foreseeable future.

It is definitely a plan that will work and since you have accumulated that amount of bitcoin for a long time I am sure you are not going to have any problem holding your coins unlike many members here, just remember to make an effort and remain constant, it is very easy to think the price will remain like this forever but when it begins to skyrocket again you want to have as much bitcoin as possible because it is likely the next time the bull run comes we will shatter the previous all time high.

All of us who felt the massive effect of bitcoin's bearish market, wanted another good news to happen but I don't think the skyrocket scenario will exactly initiate. Bull run expectations might be a struggles and yet many people has been frustrated for a long time, yet this year has not shown any good progress.

[StarofBTC]

The best exit strategy is to not exit. Why would you want to take your profit in depreciating fiat currencies instead of keeping it in Bitcoin, an appreciating asset?

Keep accumulating as much Bitcoin as you can and only spend it when you absolutely must. By all means spend some Bitcoin to buy enough fiat currency to trade for whatever goods or services you require but don't spend your bitcoins unnecessarily.

Agree 100 %

Only if people actually understand what an appreciating asset and a depreciating one is and they even understand the full disadvantages we have had in having to be in fiat over the years, then they will understand why bitcoin has a great value and will keep having huge value over time.

It will take someone who is well vast and have the basic knowledge and understanding of where they are investing in that will know that they have a lot of things to gain in the long run, by seeing bitcoin as a good haven for the storage of value of what they have and in the long run, what they should even expect more is an increase in value.

[rickadone]

All of us who felt the massive effect of bitcoin's bearish market, wanted another good news to happen but I don't think the skyrocket scenario will exactly initiate. Bull run expectations might be a struggles and yet many people has been frustrated for a long time, yet this year has not shown any good progress.

It is normal to keep being frustrated for as long as you can imagine if you are raising your hopes too high in the short term. For someone like OP, it is obvious this is someone who thinks more about the future than what is at hand at the moment, and even while considering what is at hand at the moment, he is more or less just trying to take advantage of it.

When you have a long term goal mindset, the idea of seeing great opportunities when others are seeing issues and whining, or the idea of having plans on how to approach the market when everyone is busying crying their eyes out over what they have lost is something that will always make you different over time. This is one thing that has made a lot of people different and made good plans for today and even still making plans for the future, and the truth is that some people have been here for a very long time now and they still do not have anything to show for it.

Good luck to the OP, as I know he will most definitely do well in this space, with such brilliant mindset, but one thing for sure is never to stop accumulating as I know in the long run, we will be far more than where we are now, and some people would even wish they bought at $20,000.

[luca1073]

All of us who felt the massive effect of bitcoin's bearish market, wanted another good news to happen but I don't think the skyrocket scenario will exactly initiate. Bull run expectations might be a struggles and yet many people has been frustrated for a long time, yet this year has not shown any good progress.

It is normal to keep being frustrated for as long as you can imagine if you are raising your hopes too high in the short term. For someone like OP, it is obvious this is someone who thinks more about the future than what is at hand at the moment, and even while considering what is at hand at the moment, he is more or less just trying to take advantage of it.

When you have a long term goal mindset, the idea of seeing great opportunities when others are seeing issues and whining, or the idea of having plans on how to approach the market when everyone is busying crying their eyes out over what they have lost is something that will always make you different over time. This is one thing that has made a lot of people different and made good plans for today and even still making plans for the future, and the truth is that some people have been here for a very long time now and they still do not have anything to show for it.

Good luck to the OP, as I know he will most definitely do well in this space, with such brilliant mindset, but one thing for sure is never to stop accumulating as I know in the long run, we will be far more than where we are now, and some people would even wish they bought at $20,000.

Thanks a lot for your encouraging words. I really appreciate your input. Bitcoin is an everyday discovery for me as i ve looked into it more and more, its function,  its technology and the math behind it in the last couple of years. It fascinates me and i understand the potential and the opportunity behind it and yes i will not stop accumulating. The other day i said in a post (here in this thread) that " i believe in bitcoin" And i received a message from a moderator saying that my post had been deleted because it was not in line with the forum rules. My post didn't say.much , just that i truly believe in bitcoin, i didnt post any referral links so i don't know what really happened. I hope this post will stay instead, maybe it was a mistake or misunderstanding, don't know, thanks

[Febo]

For now you should buy until price reaches $50k. When it reach $50k in 2021 you just start spending money that you would use to buy BTC. Treat yourself. Then a year latter when price is around $100k you start buying again.

i have the feeling it will be more than 50 K $ in 2021 but i may be wrong .... or maybe it will be 50 k at the bottom of the next bear market

I did not said that Bitcoin will not be higher then $50k in 2021. I said that you should buy until it is $50k.

[xIIImaL]

For now you should buy until price reaches $50k. When it reach $50k in 2021 you just start spending money that you would use to buy BTC. Treat yourself. Then a year latter when price is around $100k you start buying again.

i have the feeling it will be more than 50 K $ in 2021 but i may be wrong .... or maybe it will be 50 k at the bottom of the next bear market

I did not said that Bitcoin will not be higher then $50k in 2021. I said that you should buy until it is $50k.

This prediction is just a expectation of Crypto hunters. Because last year many peoples are said it will reach 50k USD in end of 2019 but current market is totally opposite in last year pump so we never say when it will going to moon. I hope Butcoin will raise in next year so as soon as possible we must hold more Bitcoin in this bearish market.

[kominfo.id]

the plan to save cryptocurrency or assets that you have is the best choice because when you have that plan you can become rich in the future because of the influence of the increase in the price of bitcoin.

[luca1073]

the plan to save cryptocurrency or assets that you have is the best choice because when you have that plan you can become rich in the future because of the influence of the increase in the price of bitcoin.

Yes, there is definitely a potentiality of getting rich(or gain an important sum) with this, i'm actually excited at the possibilities. The best would be never to exchange the saved crypto into Fiat and spend it slowly only when it reaches very High prices.

[kateycoin]

Saving plans from bitcoin is a great strategy to make a good earnings a lot of us here in crypto is doing our best to make a good profit and your strategy is good buying in dips will bring you a great future when bitcoin will reach a highest price of all time.