A Saving Plan

[luca1073]

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 %

[BitHodler]

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.

Don't set yourself such targets, because it will only work against you. By the time the price breaks through the $10,000 mark again, you can be sure that it will keep going up far beyond what you think is possible.

My target last year was to keep accumulating as long as the price was hovering below the $2000 mark, and it didn't take long before I realized how much of a fool I made out of myself. I won't make the same mistake again.

Continue to dollar cost average your entry points and you'll be fine, that's my advice to everyone here. Even if you bought last year's peak, if you buy at current levels you effectively lower your average buying price with at least 50%.

Instead of waiting for the price to reach $20,000 to break even, you'll break even around $10,000 or even lower.

[upsidedown75]

The best type of saving is always saving for something. Right now, I am saving for a game, red dead redemption 2 is out and it costs about 60 dollars or so to get the game which is a lot of money in my country (for comparison I am making about 80 dollars a week and barely survive) but I am trying to put money aside, not just 60 dollars to get the game but also enough to make sure if I buy the game it won't matter to me and I wouldn't be in big trouble for spending that amount.

If I was living in a country like USA or UK than I would probably get paid a lot more and than buying those types of stuff would have been easy but I am living in a third world country and those kinds of stuff are really expensive for me. You need to put a goal to yourself and save for it, that is the best way I have found to save money.

[Skyshark]

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's sure nice to have plans, be it small or big. Don't stop now, Looking at coinmarketcap, bitcoin is still valued below $10,000. If you still have the means to buy even by fraction, go ahead. A fraction a day, will naturally become one whole way ahead. You were absolutely right in believing that bitcoin will become very costly in the future.
Anyway, your's is a superb plan.

[luca1073]

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.

Continue to dollar cost average your entry points and you'll be fine, that's my advice to everyone here. Even if you bought last year's peak, if you buy at current levels you effectively lower your average buying price with at least 50%.

Instead of waiting for the price to reach $20,000 to break even, you'll break even around $10,000 or even lower.

In my case no i didnt buy at the 20 k level i only bought so far constantly since March 2018 every week or so and in the last three weeks/month i ve ben buying every single day without fault. Basically i only bought at the 6000-8000-9999 $ level since March. I bought half a btc in 2015 to exchange it but i should have bought way more lol but i didnt exchange it into Fiat. Back then i could have even invested way more than now but that's how things go. In 2015 bitcoin for me was just a rumour i didn't understand it yet
I think we are still the early investors in the space(even now in 2018).

[frchowe214]

At the moment you are holding more than half your crypto in bitcoin and the price is not moving. You could drop it down to 30% and do more alt trading to increase your profits, but it is more risky of course.

[el kaka22]

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!

You have a perfectly thought out strategy and it seems you are well informed, so I would not have much to say actually. I like it when people think like this for the long term and this is what always separates those who tend to do well over time from those who are just busy complaining of low prices. Buying below $10k is a very good plan and halting above it is also not a bad one either, considering the market will have a chance for a huge growth by then.

Also, with the altcoin plan, that is actually one sweet way to actually increase your bitcoin stash as well over time, considering that they are always into the game of short term huge fluctuations, and I have used this plan as well to increase my bitcoin over the years, so having such amount in this time in altcoins when it is in the bottom, shows pretty well the potential number of bitcoin you could be having in the long run.

[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!

You have a perfectly thought out strategy and it seems you are well informed, so I would not have much to say actually. I like it when people think like this for the long term and this is what always separates those who tend to do well over time from those who are just busy complaining of low prices. Buying below $10k is a very good plan and halting above it is also not a bad one either, considering the market will have a chance for a huge growth by then.

Also, with the altcoin plan, that is actually one sweet way to actually increase your bitcoin stash as well over time, considering that they are always into the game of short term huge fluctuations, and I have used this plan as well to increase my bitcoin over the years, so having such amount in this time in altcoins when it is in the bottom, shows pretty well the potential number of bitcoin you could be having in the long run.

Wow , thanks a lot for your words, really encouraging. Also i noticed that now i have become a Jr. member 

[carlisle1]

Buying bitcoin not exceeding the price of $10,000 or even when it goes higher is a good strategy,since the great coin had already reached $20,000 so its only normal to expect the next big thing in regards to your investments
And for me,you are good enough in making plans for the future of your hard earned money

[StarofBTC]

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 not a bad plan for you considering that it is more of a long term plan and you are seeing an opportunity in taking advantage of the dips which is always a good thing as far as I am concerned.

One thing a lot of people do not actually get to realize over time is that this space has been growing over the years, and basically it has not stopped growing at all and there is still more room to grow, so the best in most cases at times like this is to be taking advantage of the low prices and looking forward to the long term and this seems like a perfectly well placed plan.

[luca1073]

Yes definitely excited about the plan, maybe having traded forex helped me not to get nervous or care about price swings lol. Bitcoin is clearly creating higher highs and higher lows if we see the weekly or monthly chart . bitcoin so far has demonstrated to be the best investment in the history of humanity if we only consider its price during the years and not counting the good that it will bring to the world in freedom, banking, blockchain applications to our everyday life and more

 

[UNOE]

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.

I really like your plan, and I recommend to you to stick with it. Set your goals in mean when and at which price do you want to sell Bitcoin and you are ready to go. For example sell a little portion around 20k USD, then near 30k USD and so on, that depends mostly on your aspiration.

[Whosdaddy]

At the moment you are holding more than half your crypto in bitcoin and the price is not moving. You could drop it down to 30% and do more alt trading to increase your profits, but it is more risky of course.

Probably, he sounds like someone who is actually ready to live with that and he is simply looking at the long term and not the short term which a lot of people in this space who are new tend to look at the most.

At this stage, as long as he is not sure of where he wants to take advantage of, he should not attempt it at all. Like you said, what you have asked him to do is a lot risky, but you still ask him to do it anyway. Anyone who is looking to trade or take advantage of altcoins growth should also understand the risk involved, but I understand basically well that it is actually a very good move if you can handle yourself.

[Insanerman]

Wow, this is a great read and I am very sure that you are a very knowleageable about bitcoin. Continue doing the good work and I am surprised that you have a well out plan in cryptospace.

I have read a thread created by LoyceV, where it says that the bitcoin is somehow being manipulated by a group of whales that is why it stays in the price range of $6k-7k. For some investors this price range is still the best time for buying. You are well informed mate keep reading and updating yourself in crypto space.

[Adriano2010]

Nice job OP. I think if you are 100% the coins you hold will grow then hold that coins and sell after some time. I think you can still buy bitcoin under 10,000$ but make sure you not buy large sum of bitcoin when is high 8000-10,000$ range. I wish you good luck with your plan.

[Cacingkemi]

A good plan to save your BTC for a predetermined period of time,I hope other investors also plan the same thing so that there is no problem losing the money they always talk about.I think your investment in ALT will increase your profit so I think later not only 1BTC but more than that.

[LoyceV]

My actual plan is to buy daily fractions of btc

How are you storing your Bitcoin?

• If you add small amounts to your wallet each day, you should read Fees are low, use this opportunity to Consolidate your small inputs!. Not so long ago, when fees were high, I've seen people who literally had worthless Bitcoin dust, despite it being worth hundreds or thousands of dollars.
• If you're keeping your coins at an exchange, you should get yourself a more secure storage method.

As for the altcoins that is the reason why i haven't exchanged them into btc yet : i don't want to regret later...

It's virtually impossible to time the market. I regret not selling most of my alts, only a few went up long-term. I still hold on to them, and sell a small amount once it goes up to a price I like.

[luca1073]

My actual plan is to buy daily fractions of btc

How are you storing your Bitcoin?

• If you add small amounts to your wallet each day, you should read Fees are low, use this opportunity to Consolidate your small inputs!. Not so long ago, when fees were high, I've seen people who literally had worthless Bitcoin dust, despite it being worth hundreds or thousands of dollars.
• If you're keeping your coins at an exchange, you should get yourself a more secure storage method.

As for the altcoins that is the reason why i haven't exchanged them into btc yet : i don't want to regret later...

It's virtually impossible to time the market. I regret not selling most of my alts, only a few went up long-term. I still hold on to them, and sell a small amount once it goes up to a price I like.

I had them in paper wallets now i have them in a ledger nano S

about the dust i have a few transactions of 30000-50000 satoshi that i got from faucets , the smallest being 10000 but they are not many now because i had passed them to the ledger nano s by sweeping a complete address(through electrum wallet used by me only for sweeping some time ago and sending everything to ledger nano)  where most of my faucets proceeds were

i still claim from a few famous real paying faucets, feeling greedy for satoshi lol

when you talk about dust would you consider 0.01 BTC dust? i don't think so but I ask. i buy BTC from wirex(very good rates) through their app and keep them in their hot wallet until i reach 0.03 BTC  and then i send the BTC to the ledger nano s. fees now are a minimum of 0.03 Euro to max 0.26 euro (thats what i have paid on wirex (blockchain fees, wirex doesn't charge anything they make money only in the exchange rate of bid/ask)

[LoyceV]

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.

[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.

True i had heard about it maybe i should do it , will think about it