A Saving Plan

[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.

[peter0425]

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.

Well it looks like you have executed your plan into a "T" so I say that you already laid out the perfect plan for you. Don't bother about those institutional money coming in, as long as you purchased bitcoin at a cheap price then you are all set for having a good future. Your next target though is obviously go to 2 BTC and see how it goes for you. I would assume that others is also doing the same trick as you have been doing in the last couple of months so congrats on having that 1 BTC in your wallet.

[crairezx20]

What do you think about it?

Such a good plan but make sure that you already make a profit in other cryptocurrencies. 0.70 in BTC is a big amount of bitcoin if you sell all of your altcoins and convert it into bitcoin then you can have a total of 1.7 BTC am I right?

You can hold this amount bitcoin for a long time but I am sure you will regret selling other cryptos because there is a possibility that the altcoin you hold before can be increased more than bitcoin.

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?

No one knows if what will happen to bitcoin in the future but I believe bitcoin price will increase this coming 2020 after block halving.
It takes a long journey so I think much better to make a plan that you can multiply your bitcoin amount than waiting for years before you can make a high profit.
And honestly, we don't know if the price of bitcoin can be still increased in the future so it's risky if you are just holding them all.

[luca1073]

Yes as you pointed out it is (now i just checked) 1.73 Btc (0.95 in btc and the rest in other crypto). The number of btc is increasing daily due to my constant buying small amounts. As for the altcoins that is the reason why i haven't exchanged them into btc yet : i don't want to regret later... We LL see what i will decide about that but not now.
Thanks for the encouragment!

[YuginKadoya]

All I can say is a good job in thinking ways in accumulating bitcoin but the faucet part though seems like a waste of time but if you already have multiple referrals on your side then I think it is a worth shot keeping on doing it, And I do believe that bitcoin will have a value exceed the $10,000 USD in the future and it is great to keep on buying bitcoin while the price is cheap, I really think you can put a little amount on Altcoins that have a decent value to convert on bitcoin when the value surge up and always get coins or token that are free to sell in the future, I really think you are sailing a smooth ride.

[supermine]

Yes as you pointed out it is (now i just checked) 1.73 Btc (0.95 in btc and the rest in other crypto). The number of btc is increasing daily due to my constant buying small amounts. As for the altcoins that is the reason why i haven't exchanged them into btc yet : i don't want to regret later... We LL see what i will decide about that but not now.
Thanks for the encouragment!

Some of the altcoins are also capable of go towards moon when there is price increase in bitcoin but not all the altcoins will do that so you need to be careful about what altcoins you were holding.If you are ready to lose any amount from your capital then just hold all the coins as it is and if some coins were bumping too high make convert into stable or bitcoin because after sudden bump there might be a dump as well.

[roosbit]

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.

Wow so you have accumulated approximately 0.3 btc from faucets ? Man you deserve a medal! Back then when bitcoin was not so popular rising this much was a walk in the park ,today this is operation "MISSION IMPOSSIBLE"

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.

We have seen the price record an all time high which was way over your anticipated 10,000 dollars and many banks and institutions didn't enter the market, what makes you sure that this time they are backing crypto??? My advice would be short term this is not a good plan but if you are going in for the long term this can be a well crafted plan, Good luck mate!

[harizen]

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.

You will never know the output if you will not do it. Since you already made an analyzation, I think you are prepared now to execute your plan.

You successfully managed to reached BTC1 by following your own plan that is backed up with your own analyzation so I think you can properly handled your "small plan" on the way if you will execute it now.

Also based on your plan, it will be for long term purposes so accumulation is the priority.

Well then hoping your plan will succeed.

[luca1073]

Good and interesting answers, thanks guys

Today bitcoin is 10 years old.

I know Satoshi will probably never read this but he found this forum  so there is always a chance. in case you read this I want to thank you for everything you have done,

Happy birthday Bitcoin!

[adaseb]

In the future don't post exactly how much you own in Crypto. Because your account and computer might become targetted. Just make a thread in the future and don't need to give the exact amount of Crypto you own to ask any questions.

Right now you are better off holding those 0.7BTC of alts because alts are at ATL (all time lows) right now. Selling now is not a good idea because it might be the bottom and if they start to rally you can exponentially increase your BTC by selling the alts for BTC in the future. If the entire crypto market drops even further, then you will lose a little more than todays market value but at least you won't miss out on the crazy FOMO rally if it happens in the future.

[luca1073]

In the future don't post exactly how much you own in Crypto. Because your account and computer might become targetted. Just make a thread in the future and don't need to give the exact amount of Crypto you own to ask any questions.

Right now you are better off holding those 0.7BTC of alts because alts are at ATL (all time lows) right now. Selling now is not a good idea because it might be the bottom and if they start to rally you can exponentially increase your BTC by selling the alts for BTC in the future. If the entire crypto market drops even further, then you will lose a little more than todays market value but at least you won't miss out on the crazy FOMO rally if it happens in the future.

Agree, i think we may be at the bottom

[batang_bitcoin]

Nice plan, you are doing the right thing. Unlike other investors, they are just buying without any plan on what they should do after buying.

Your buying plan is a good strategy while its not yet above $10,000, you should keep on buying and exchange all of those alts for BTC. There will be a time that those alts are going to suffer when bitcoin comes back on bull. I'm only curious on how much time you've been allocating for accumulating with those faucets.

[luca1073]

Nice plan, you are doing the right thing. Unlike other investors, they are just buying without any plan on what they should do after buying.

Your buying plan is a good strategy while its not yet above $10,000, you should keep on buying and exchange all of those alts for BTC. There will be a time that those alts are going to suffer when bitcoin comes back on bull. I'm only curious on how much time you've been allocating for accumulating with those faucets.

I first heard of bitcoin at the start of 2015 (maybe even earlier but didnt pay attention to it enough) and clicked a lot on free bitcoin faucet that was paying very well in satoshi back then but i should have bought bitcoin back then when it was at 200$ . i bought some btc (0.49) and exchanged it For an altcoin that skyrocketed in value but i never sold it(maybe i should have done it in january 2018 but its like that). I came  back to crypto in 2016_ 2017 and used faucets a lot   but most of my btc are not from faucets of course. If i had clicked without interruption from 2015 (or earlier) it would have been another  story

I still click on free bitcoin and get paid from cryptotab where i have many referrals and use cointiply and surveys and get paid in btc but now but i know that now it is not really worth it.  I ve partecipated in surveys that pay 10000 satoshi but if they had said 0.60$ i would have never partecipated. In this period in buying 0.01/0.02 btc a day because i think maybe a bottom is close. We LL see

[JimboToronto]

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.

[pooya87]

unlike you i don't have any certain price in mind. for me $10k is just another number on the way up. it has no significance. what i do is to accumulate more bitcoin, as much as i can afford. it is not about the price and not about how and when i buy it. it is about how much money i am willing to risk with bitcoin. this is surely different for different people but the principle is the same. you always want to invest what you can afford to lose.

[Idrisu]

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.

Nice is a very nice plan you are having and if you have other sources of income then you are on the good root.  I believe that saving is what prosper us as according to clement stone "if you cannot save the seeds of greatness is not in you " we must endeavour to save and be able to keep to our savings plan.

[Pursuer]

going nearly 50-50 with bitcoin and altcoins is not a good idea in my opinion. you are taking a huge risk on your 0.7BTC worth which is in altcoins. and I would say that unless you are an experienced trader who is using that 0.7BTC to make profit from trading altcoins and using their pumps, then it is not a good strategy to get involved with them because the losses will be greater and the possible gains will be smaller than holding 100% bitcoin.
what I personally do is that I dedicate a smaller amount for trading altcoins and constantly cash out the profit and also I make sure to stay away from the altcoin market during times that I can't predict it or times that are generally considered "dumping season".

[davis196]

How much bitcoins have you gathered with faucets?This is almost impossbile.I guess that you are using faucets since the day they were invented(probably 5-6 years ago).
Anyway,I can't say that this is a plan,but it looks like a good tactic.
Do you have a plan B,in case the bitcoin and altcoins prices crash?

[luca1073]

How much bitcoins have you gathered with faucets?This is almost impossbile.I guess that you are using faucets since the day they were invented(probably 5-6 years ago).
Anyway,I can't say that this is a plan,but it looks like a good tactic.
Do you have a plan B,in case the bitcoin and altcoins prices crash?

To be sincere i don't know how much i ve gathered with faucets. I saw a comment above of somebody that said that i achieved missione impossibile by gathering 0.3 btc with faucets but i never said so lol. Anyway definitely less than 0.3 . in my post i just put the ( also through faucets) word, never said i gathered so much. Anyway if you had clicked on gavin (Andresen ?)faucet( i saw a post on reddit commemorating it) he was giving 5 bitcoin per your or per day in 2010(?) ( ahhhah)

Plan B? Not really ? Lol. I ve traded forex for a while so i can keep a floating loss for too long even if this practice is frowned upon in that world but this is not day trading anyway 

[luca1073]

going nearly 50-50 with bitcoin and altcoins is not a good idea in my opinion. you are taking a huge risk on your 0.7BTC worth which is in altcoins. and I would say that unless you are an experienced trader who is using that 0.7BTC to make profit from trading altcoins and using their pumps, then it is not a good strategy to get involved with them because the losses will be greater and the possible gains will be smaller than holding 100% bitcoin.
what I personally do is that I dedicate a smaller amount for trading altcoins and constantly cash out the profit and also I make sure to stay away from the altcoin market during times that I can't predict it or times that are generally considered "dumping season".

I know it is risky. Infact as i said those 0.70 in altcoins were bought at extremely cheap prices when i was unaware of everything crypto wise. I'm debating what to do in the near future but i will try to manage by finding a " solution"