Buy the DIP, and HODL!

[Bravut]

And maybe because there are some shitcoins that are tempting, but if you don't do a thorough analysis and don't do it well and don't follow it from the start it will be in vain and very risky.

Come on mate, there are no amounts of researches that can be convincing enough to get involved in shitcoins, they are just there for distractions, Bitcoin has proven to be the best in all ramifications and there is no way we can make any form of comparisons or make it looks like Bitcoin irrespective of the level of researches and analysis. Don't forget that supply has a major role to play in the market, Bitcoin has a limited supply of only 21million,  Bitcoin stability and entrepreneurship are far better than any other coins or is it about it's network effects and security Bitcoin are far better than then all,  but however as JJG will always say that don't do more than 10% involvement in to shit coins as compared to the size of your Bitcoin investment which is a very nice advice at that. There is no degree of researches and analysis that will make shitcoins involvement any less risky as when compared with Bitcoin.

Even though shitcoins only exist to divert attention, they have given people the opportunity to own Bitcoin by trading Bitcoin altcoin pairs or stable coins so they can buy Bitcoin. However, Bitcoin has proven to be the best compared to altcoins, so Bitcoin is still someone's main investment target.

They can use shitcoins only for smaller portions or for daily trading while they invest in Bitcoin by accumulating it using DCA. They can use the profits from trading altcoin pair Bitcoin or stablecoins to buy Bitcoin. That is one way to own Bitcoin, and it can also be used to carry out the DCA method.

But we have to remember that using shitcoins has a big risk because we don't know which shitcoins can provide profits, even though we can analyze them one by one. Not many shitcoins are able to survive for a long time while Bitcoin has proven to be able to survive for a long time.

I know one can actually earn through trading , but trading is normally two ways one can either loss or profits And with too much risk attached to it . But one should not let his or her trading urge to affect their Bitcoin accumulation, in trading with just a slight mistake one can endup losing all his profit earn that period or even further lose all his capital in trading . That why I prefer to refer newbies to holding (Bitcoin) , because trading requires more time and skills before one can manage to be successful in it, while hodl once one have the basic knowledge of Bitcoin they can go into holding without more stress, maybe as time goes they would learn how to manage their holdings by having emergency funds and other related stuff. So even though you are trader and all that try as possible to have some stash of Bitcoin in your portfolio. And we advice that one should allocate more percentage of their earning , in accumulating more bitcoin.

Newbies should only focus on bitcoin, and leave shitcoins. Bitcoin is the main priority not a clone of it that, focus more on building a solid portfolio from the early start, buy, accumulate, hold as much bitcoin you can debunking every mindset of short term gain over long term range. As JJG will say accumulate the fuck out of bitcoin within your limit, this isn’t just a coin but a valuable asset one can ever invest in.

Using DCA, setting either weekly or mothly target will help dispense the weight. Trading is risky likewise investing. But holding minimizes your risk exposure, which for me is the proven way one can approach the bitcoin market.
But I won't utterly say anyone shouldn't trade, if you have a solid Trading approach you can trade, but newbies or novice shouldn't. I would suggest if anyone wants to trade he should have a different wallet for it, and shouldn't in anyway trade the bitcoin he is accumulating.

Nevertheless there is need to understand that including shitcoins in your investment plan, trading in the bitcoin market is not sustainable and involves big risks, only focus on what is trusted and build your portfolio, overtime you will be happy you invested in an asset like Bitcoin.
Act within your risk tolerance.

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[Justbillywitt]

And maybe because there are some shitcoins that are tempting, but if you don't do a thorough analysis and don't do it well and don't follow it from the start it will be in vain and very risky.

Come on mate, there are no amounts of researches that can be convincing enough to get involved in shitcoins, they are just there for distractions, Bitcoin has proven to be the best in all ramifications and there is no way we can make any form of comparisons or make it looks like Bitcoin irrespective of the level of researches and analysis. Don't forget that supply has a major role to play in the market, Bitcoin has a limited supply of only 21million,  Bitcoin stability and entrepreneurship are far better than any other coins or is it about it's network effects and security Bitcoin are far better than then all,  but however as JJG will always say that don't do more than 10% involvement in to shit coins as compared to the size of your Bitcoin investment which is a very nice advice at that. There is no degree of researches and analysis that will make shitcoins involvement any less risky as when compared with Bitcoin.

Even though shitcoins only exist to divert attention, they have given people the opportunity to own Bitcoin by trading Bitcoin altcoin pairs or stable coins so they can buy Bitcoin. However, Bitcoin has proven to be the best compared to altcoins, so Bitcoin is still someone's main investment target.

They can use shitcoins only for smaller portions or for daily trading while they invest in Bitcoin by accumulating it using DCA. They can use the profits from trading altcoin pair Bitcoin or stablecoins to buy Bitcoin. That is one way to own Bitcoin, and it can also be used to carry out the DCA method.

But we have to remember that using shitcoins has a big risk because we don't know which shitcoins can provide profits, even though we can analyze them one by one. Not many shitcoins are able to survive for a long time while Bitcoin has proven to be able to survive for a long time.

How can a newbie understand what you are saying? A newbie who is new into bitcoin investment should never be encouraged to trade altcoins and use the profit they generate to buy bitcoin through DCA. This is just like sentencing the person to death. What's the guarantee that they are going to make profit by trading altcoins? Why encouraged people to do something that you know the risk is very high and has every tendency of liquidating someone within hours. I don't support the idea of investing a penny in altcoins, there is no further in it.

[Obim34]

And maybe because there are some shitcoins that are tempting, but if you don't do a thorough analysis and don't do it well and don't follow it from the start it will be in vain and very risky.

Come on mate, there are no amounts of researches that can be convincing enough to get involved in shitcoins, they are just there for distractions, Bitcoin has proven to be the best in all ramifications and there is no way we can make any form of comparisons or make it looks like Bitcoin irrespective of the level of researches and analysis. Don't forget that supply has a major role to play in the market, Bitcoin has a limited supply of only 21million,  Bitcoin stability and entrepreneurship are far better than any other coins or is it about it's network effects and security Bitcoin are far better than then all,  but however as JJG will always say that don't do more than 10% involvement in to shit coins as compared to the size of your Bitcoin investment which is a very nice advice at that. There is no degree of researches and analysis that will make shitcoins involvement any less risky as when compared with Bitcoin.

Even though shitcoins only exist to divert attention, they have given people the opportunity to own Bitcoin by trading Bitcoin altcoin pairs or stable coins so they can buy Bitcoin. However, Bitcoin has proven to be the best compared to altcoins, so Bitcoin is still someone's main investment target.

They can use shitcoins only for smaller portions or for daily trading while they invest in Bitcoin by accumulating it using DCA. They can use the profits from trading altcoin pair Bitcoin or stablecoins to buy Bitcoin. That is one way to own Bitcoin, and it can also be used to carry out the DCA method.

But we have to remember that using shitcoins has a big risk because we don't know which shitcoins can provide profits, even though we can analyze them one by one. Not many shitcoins are able to survive for a long time while Bitcoin has proven to be able to survive for a long time.

I will not think I'm wrong judging from your own perspective as stated, you mean it is advisable to first fund into shitcoins as a source to increase one's investment funds before purchasing Bitcoin, I would not support the motion, knowing fully well even on the process of generating more returns through trading, their is higher chance of blowing out the funds during the process, why then should it be considered an option?

Bitcoin investment doesn't necessarily require a large amount of funds to be invested, so taking such risk should be out of the box, DCA approach has been set to strategically make purchases even with as low funds that a person could afford, instead of using that funds to trade shitcoins, one can easily and directly invest in Bitcoin by DCAING.

[MusaPk]

Yeah, but if you did not have any BTC, then how are you going to know to wait before you buy?

Even if you started buying $100 per week of BTC on December 19, 2017, by now you would have had invested $32,700 and you would have accumulated 2.66 BTC (currently worth about $186k), so you would be right around 5.7x in profits... so there is no reason to be greedy or to be trying to second guess these kinds of matters.  The main thing is to get the fuck started and to establish a position, and surely a guy with 2.66 BTC is in a good place right now, but he still might feel that he does not quite have enough and he might feel that he needs to continue to invest at $100 per week or maybe even to be more aggressive in his weekly DCA amount.

I just have a small point that today bitcoin price is around $70k and if we are comparing last 7 years DCA till today then it looks good. But few months back price of Bitcoin was under $20k and at that spot thing might not look as ideal as they are today.
There is consent that some investment is better then zero investment. If I talk about myself then if I have been investing into bitcoin since 2017 then I might be in some good position. But since I started investment quite late so I have to wait for a while to see my portfolio in good position.

[Troytech]

And maybe because there are some shitcoins that are tempting, but if you don't do a thorough analysis and don't do it well and don't follow it from the start it will be in vain and very risky.

Come on mate, there are no amounts of researches that can be convincing enough to get involved in shitcoins, they are just there for distractions, Bitcoin has proven to be the best in all ramifications and there is no way we can make any form of comparisons or make it looks like Bitcoin irrespective of the level of researches and analysis. Don't forget that supply has a major role to play in the market, Bitcoin has a limited supply of only 21million,  Bitcoin stability and entrepreneurship are far better than any other coins or is it about it's network effects and security Bitcoin are far better than then all,  but however as JJG will always say that don't do more than 10% involvement in to shit coins as compared to the size of your Bitcoin investment which is a very nice advice at that. There is no degree of researches and analysis that will make shitcoins involvement any less risky as when compared with Bitcoin.

Even though shitcoins only exist to divert attention, they have given people the opportunity to own Bitcoin by trading Bitcoin altcoin pairs or stable coins so they can buy Bitcoin. However, Bitcoin has proven to be the best compared to altcoins, so Bitcoin is still someone's main investment target.

They can use shitcoins only for smaller portions or for daily trading while they invest in Bitcoin by accumulating it using DCA. They can use the profits from trading altcoin pair Bitcoin or stablecoins to buy Bitcoin. That is one way to own Bitcoin, and it can also be used to carry out the DCA method.

But we have to remember that using shitcoins has a big risk because we don't know which shitcoins can provide profits, even though we can analyze them one by one. Not many shitcoins are able to survive for a long time while Bitcoin has proven to be able to survive for a long time.

I can't agree with you on this, shitcoins are risky to indulge in and I don't see how that is a good and reasonable opportunity to get profit from to invest in bitcoin, this is really gambling and as we know it gambling can be addictive and yeah someone might be delusional thinking that if he invest in shitcoins or trades it he would use the profit to invest in Bitcoin, he might also likely chose to continue in that path of getting quick profits and eventually wreak himself.

I don't know if you were trying to say that if we must indulge in shitcoins that it should be at most 5-10% of our portfolio and this was only suggested for those that can't bear to stay away from shitcoins and at times people can't control themselves and would also want to invest more and more until they may find themselves investing more to shitcoins than even Bitcoin.

I won't be advising anyone who is just starting out his investment journey to be induging in this kind of activities cause it could be a major distraction for him and also wreak him if not careful, a better advice would be stay away from shitcoins and focus on building a solid portfolio with bitcoin and if you hold for long term you could well get even more profits than you could have made from investing or trading shitcoins, although they is no accurate guarantee that it might work out, but least it has a better chance than any shitcoin.

[wmaurik]

I just have a small point that today bitcoin price is around $70k and if we are comparing last 7 years DCA till today then it looks good. But few months back price of Bitcoin was under $20k and at that spot thing might not look as ideal as they are today.
There is consent that some investment is better then zero investment. If I talk about myself then if I have been investing into bitcoin since 2017 then I might be in some good position. But since I started investment quite late so I have to wait for a while to see my portfolio in good position.

I think it is not a complicated problem for you to continue investing in Bitcoin and also for people who still want to invest in Bitcoin. Because from 2017 to this year it is almost seven years, in general you have seen a lot of things through the market, especially for the price of Bitcoin itself. But if you have spent just five years investing in Bitcoin, at this time your Bitcoin portfolio is also very good because you must have seen two ATHs that occurred in Bitcoin and there is still a possibility that it will happen again this year. So keep investing with whatever strategy you want without complaining about the current Bitcoin price.

[cxtreenal]

And maybe because there are some shitcoins that are tempting, but if you don't do a thorough analysis and don't do it well and don't follow it from the start it will be in vain and very risky.

Come on mate, there are no amounts of researches that can be convincing enough to get involved in shitcoins, they are just there for distractions, Bitcoin has proven to be the best in all ramifications and there is no way we can make any form of comparisons or make it looks like Bitcoin irrespective of the level of researches and analysis. Don't forget that supply has a major role to play in the market, Bitcoin has a limited supply of only 21million,  Bitcoin stability and entrepreneurship are far better than any other coins or is it about it's network effects and security Bitcoin are far better than then all,  but however as JJG will always say that don't do more than 10% involvement in to shit coins as compared to the size of your Bitcoin investment which is a very nice advice at that. There is no degree of researches and analysis that will make shitcoins involvement any less risky as when compared with Bitcoin.

Even though shitcoins only exist to divert attention, they have given people the opportunity to own Bitcoin by trading Bitcoin altcoin pairs or stable coins so they can buy Bitcoin. However, Bitcoin has proven to be the best compared to altcoins, so Bitcoin is still someone's main investment target.

They can use shitcoins only for smaller portions or for daily trading while they invest in Bitcoin by accumulating it using DCA. They can use the profits from trading altcoin pair Bitcoin or stablecoins to buy Bitcoin. That is one way to own Bitcoin, and it can also be used to carry out the DCA method.

But we have to remember that using shitcoins has a big risk because we don't know which shitcoins can provide profits, even though we can analyze them one by one. Not many shitcoins are able to survive for a long time while Bitcoin has proven to be able to survive for a long time.

I will not think I'm wrong judging from your own perspective as stated, you mean it is advisable to first fund into shitcoins as a source to increase one's investment funds before purchasing Bitcoin, I would not support the motion, knowing fully well even on the process of generating more returns through trading, their is higher chance of blowing out the funds during the process, why then should it be considered an option?

I agree with you because bitcoin only teaches you to make this investment in bitcoin, here is a waste of time investing in something else or trading. People who are used to trading enter the market with a short-term mindset and may exit with some profit, but this process is destructive to the business in the long run. It should be understood that short-term trading does not go with Bitcoin. DCAing is an ideal strategy to generate positive returns on your investment. But if you have extra funds it may be reasonable to dip with Bitcoin so that you can live comfortably and longer.

[JayJuanGee]

And maybe because there are some shitcoins that are tempting, but if you don't do a thorough analysis and don't do it well and don't follow it from the start it will be in vain and very risky.

Come on mate, there are no amounts of researches that can be convincing enough to get involved in shitcoins, they are just there for distractions, Bitcoin has proven to be the best in all ramifications and there is no way we can make any form of comparisons or make it looks like Bitcoin irrespective of the level of researches and analysis. Don't forget that supply has a major role to play in the market, Bitcoin has a limited supply of only 21million,  Bitcoin stability and entrepreneurship are far better than any other coins or is it about it's network effects and security Bitcoin are far better than then all,  but however as JJG will always say that don't do more than 10% involvement in to shit coins as compared to the size of your Bitcoin investment which is a very nice advice at that. There is no degree of researches and analysis that will make shitcoins involvement any less risky as when compared with Bitcoin.

Even though shitcoins only exist to divert attention, they have given people the opportunity to own Bitcoin by trading Bitcoin altcoin pairs or stable coins so they can buy Bitcoin. However, Bitcoin has proven to be the best compared to altcoins, so Bitcoin is still someone's main investment target.

They can use shitcoins only for smaller portions or for daily trading while they invest in Bitcoin by accumulating it using DCA. They can use the profits from trading altcoin pair Bitcoin or stablecoins to buy Bitcoin. That is one way to own Bitcoin, and it can also be used to carry out the DCA method.

But we have to remember that using shitcoins has a big risk because we don't know which shitcoins can provide profits, even though we can analyze them one by one. Not many shitcoins are able to survive for a long time while Bitcoin has proven to be able to survive for a long time.

You are making a difficult to justify argument michellee.

You are correct that in theory there could be opportunities available for some people to make money by trading shitcoins that would not otherwise be available to them in terms of their being able to earn money in other kinds of ways in terms of opportunities that might otherwise be available to them.

I am not going to say that it is impossible to build your BTC stash by trading shitcoins since there are likely some ways to accomplish that without gambling and/or risking too much of one's capital.. .. yet if there are ways that guys are able to earn money and put that into bitcoin, then that may well be a better way to continuously stack sats.. ..

Another problem is that if a guy might have figured out some way to stack sats, and maybe he has decided to use up to 10% of his bitcoin holdings, and so maybe he starts out with $10k of BTC holdings, and he is using around $1k of that amount to trade shitcoins, and so every month or so, he moves his profits from his shitcoin trading into bitcoin.. and so is this going to make any kind of meaningful difference to his bitcoin holdings versus getting some kind of job and trying to make as much as he can in order to buy bitcoin every month.. and yeah, maybe he can do both, but he is also engaging in various kinds of trade-offs in terms of how he is using his time (and perhaps to corrupt his brain) by fucking around with shitcoins.

Yeah, surely this thread is not about trading and/or fucking around with shitcoins, so maybe we are already getting too off topic and too distracted in terms of delving into the practicalities that some guys might be tempted into thinking that they are able to leverage some of their value and to put into various shitcoins to be able to earn more bitcoin than they might have had been able to just buy bitcoin through more normal and regular income-producing practices (such as earning income from working - whether in your own business or working for someone else)...   

Yeah, but if you did not have any BTC, then how are you going to know to wait before you buy?

Even if you started buying $100 per week of BTC on December 19, 2017, by now you would have had invested $32,700 and you would have accumulated 2.66 BTC (currently worth about $186k), so you would be right around 5.7x in profits... so there is no reason to be greedy or to be trying to second guess these kinds of matters.  The main thing is to get the fuck started and to establish a position, and surely a guy with 2.66 BTC is in a good place right now, but he still might feel that he does not quite have enough and he might feel that he needs to continue to invest at $100 per week or maybe even to be more aggressive in his weekly DCA amount.

I just have a small point that today bitcoin price is around $70k and if we are comparing last 7 years DCA till today then it looks good. But few months back price of Bitcoin was under $20k and at that spot thing might not look as ideal as they are today.

Part of the idea of the asymmetric bet to the upside and the fact that there is a lot of ongoing and inevitable volatility in bitcoin, those people who are trying to be too smart about the situation and to fuck around with trying to play BTC's inevitable price waves, they likely are going to end up getting caught on the wrong side of one wave or another and they should have had just stopped fucking around and concentrated on accumulating bitcoin until their BTC holdings get to a largely unambiguous state of overaccumulation. .. and so it is going to be more difficult to valuate these kinds of matters by getting sucked into watching BTC's spot price rather than attempting to put into practice more sound ways of valuating your BTC holdings and making sure that you are ongoingly accumulating it rather than fucking around with price waves that might end up contributing to your selling way too many BTC too soon and then you are not able to get those BTC back.... and just think about how many folks likely ended up selling too many of their BTC too soon in the last 6 months or so because they speculated that they might be able to buy back cheaper, including that there are likely going to be guys selling between current prices and $100k and maybe even up to $180k and thinking that they are smarter than everyone else, and so they end up selling too many BTC too soon becuase they conjecture that they have BTC's price waves all figured out rather than spending more time concentrating on their own personal situation and making sure that they continue to stack sats in a more consistent and persistent kind of way, even if they might end up buying some of their sats for way higher prices than what they might have had otherwise been able to do.

If BTC prices get up to $200k, would you rather have 10 BTC with an average price of $100k per BTC or 2 BTC for an average price of $40k?

Maybe this example is not that great, but there are a lot of variations of the same example in which you are going to be way the fuck better off to be continuing to accumulate BTC rather than fucking around trying to play waves and trying to get better prices or to try to get some sats for free because you bought lower than you sold... Yeah do what you like, but it you are not able to keep your eye on the prize and to keep focused on accumulating BTC through persistent and consistent buying of it, then you are likely going to end up not helping yourself in terms of your own approach to BTC.. especially since there are so many examples of BTC accumulators (and HODLers) doing way better than guys fucking around trying to trade BTC price waves in which they may or may not end up getting lucky... when dealing with an asset like BTC that we already have some pretty decent ideas to be the best asset known to man, so why fuck around with it, rather than staying focused on persistently and consistently accumulating it?

There is consent that some investment is better then zero investment. If I talk about myself then if I have been investing into bitcoin since 2017 then I might be in some good position. But since I started investment quite late so I have to wait for a while to see my portfolio in good position.

Hopefully you are not waiting too much, but instead you are persistently and consistently buying.

Otherwise I agree with you that it tends to take a long-ass time to build up any kind of investment portfolio, and if you have at least figured out that bitcoin is a good place to concentrate your efforts, then you are likely going to be in a better position from having that knowledge, even though you also realize that there are no guarantees in regards to your efforts to invest into bitcoin, so you have to figure out ways to balance your own ongoing consistent and persistent investment into bitcoin in such a way that you are able to survive the various inevitable BTC price waves without putting your BTC at risk or being forced to sell any of it absent your having had already reached some kind of level of over-accumulation that is a reasonable assessment based on your own circumstances and hopefully coming up with some system to measure the value of your BTC from bottom prices rather than from top prices (such as using the 200-WMA) as a means of making such value assessments.

[edited out]

......I don't know if you were trying to say that if we must indulge in shitcoins that it should be at most 5-10% of our portfolio and this was only suggested for those that can't bear to stay away from shitcoins and at times people can't control themselves and would also want to invest more and more until they may find themselves investing more to shitcoins than even Bitcoin.

Exactly!!! Investing into shitcoins - and/or trying to trade for the purpose of generating capital in order to invest (or accumulate) bitcoin is such a slippery slope that we can question the extent to which those kinds of folks are delusional in terms of their supposed abilities to actually make progress in stacking sats rather than ongoingly putting their capital at risk which sooner or later is likely to bite them in the ass, especially if they attribute skill to luck and don't really know how to employ sound practices to ensure that they are sufficiently/adequately hedging their bets, which is not easy to accomplish even for folks who spend a lot of time developing various kinds of trading skills/practices.

I won't be advising anyone who is just starting out his investment journey to be induging in this kind of activities cause it could be a major distraction for him and also wreak him if not careful,

That is part of the problem of the nutjob folks advising trading.  They try to present trading as if it were either a sure thing or as if it were a great place to spend time, energies and resources, and even though I am not opposed to ideas of guys learning new skills; hopefully they do not get so lured into beliefs that trading (and/or getting involved in shitcoins) is a good way to spend their time, energies and values rather than approaching their bitcoin from a more realistic perspective that has way greater chances of building value with the passage of time and ongoingly investing time, energies and value into bitcoin.. and yeah none of it is guaranteed, so each of us has to figure out our own balances... and hopefully we don't end up being either too dumb and/or greedy in our own ways of reaching our personal balances.

a better advice would be stay away from shitcoins and focus on building a solid portfolio with bitcoin and if you hold for long term you could well get even more profits than you could have made from investing or trading shitcoins, although they is no accurate guarantee that it might work out, but least it has a better chance than any shitcoin.

In this last paragraph, you captured the main thrust in regards to how any of us might want to attempt to focus ourselves.   

[Odohu]

Yeah, but if you did not have any BTC, then how are you going to know to wait before you buy?

Even if you started buying $100 per week of BTC on December 19, 2017, by now you would have had invested $32,700 and you would have accumulated 2.66 BTC (currently worth about $186k), so you would be right around 5.7x in profits... so there is no reason to be greedy or to be trying to second guess these kinds of matters.  The main thing is to get the fuck started and to establish a position, and surely a guy with 2.66 BTC is in a good place right now, but he still might feel that he does not quite have enough and he might feel that he needs to continue to invest at $100 per week or maybe even to be more aggressive in his weekly DCA amount.

I just have a small point that today bitcoin price is around $70k and if we are comparing last 7 years DCA till today then it looks good. But few months back price of Bitcoin was under $20k and at that spot thing might not look as ideal as they are today.
There is consent that some investment is better then zero investment. If I talk about myself then if I have been investing into bitcoin since 2017 then I might be in some good position. But since I started investment quite late so I have to wait for a while to see my portfolio in good position.

If I tell you that I understand your point, then I'm not being fair  to myself. Are you saying that applying DCA of $100 per week few months back might not look ideal? Well the DCA method does not really consider price rather the main consideration is the consistency in implementing it as it was planned. A DCA of few months back when price was around $20k would have made someone simply get more BTC than they would assuming the same DCA was applied today, the reason one have to start as soon as they are aware of it rather than dragging leg.

[Samlucky O]

Yeah, but if you did not have any BTC, then how are you going to know to wait before you buy?

Even if you started buying $100 per week of BTC on December 19, 2017, by now you would have had invested $32,700 and you would have accumulated 2.66 BTC (currently worth about $186k), so you would be right around 5.7x in profits... so there is no reason to be greedy or to be trying to second guess these kinds of matters.  The main thing is to get the fuck started and to establish a position, and surely a guy with 2.66 BTC is in a good place right now, but he still might feel that he does not quite have enough and he might feel that he needs to continue to invest at $100 per week or maybe even to be more aggressive in his weekly DCA amount.

I just have a small point that today bitcoin price is around $70k and if we are comparing last 7 years DCA till today then it looks good. But few months back price of Bitcoin was under $20k and at that spot thing might not look as ideal as they are today.

The statement "Things might not look as ideal as today" is a little bit confusing because things should have look so ideal then compeard to now. I think DCA by then would have been better because whoever that invest in btc few months ago  maybe $20 each week through DCA strategy would have yield alot of profit even if we know it will be saved for 10 to 20 years. you would have made alot of money.  I think you are trying to make a point but your Grammer turns to mean another thing.

There is consent that some investment is better then zero investment. If I talk about myself then if I have been investing into bitcoin since 2017 then I might be in some good position. But since I started investment quite late so I have to wait for a while to see my portfolio in good position.

You don't really need to see your portfolio look pretty much nice before accumulation. Accumulation should not be done aggressively but be done I a manner that would not affect us. You can invest as low or small as $10per week and you may not feel that you are investing. You may know the power of investment after an interval of 10 to 15 years.

[Mr.suevie]

And maybe because there are some shitcoins that are tempting, but if you don't do a thorough analysis and don't do it well and don't follow it from the start it will be in vain and very risky.

Come on mate, there are no amounts of researches that can be convincing enough to get involved in shitcoins, they are just there for distractions, Bitcoin has proven to be the best in all ramifications and there is no way we can make any form of comparisons or make it looks like Bitcoin irrespective of the level of researches and analysis. Don't forget that supply has a major role to play in the market, Bitcoin has a limited supply of only 21million,  Bitcoin stability and entrepreneurship are far better than any other coins or is it about it's network effects and security Bitcoin are far better than then all,  but however as JJG will always say that don't do more than 10% involvement in to shit coins as compared to the size of your Bitcoin investment which is a very nice advice at that. There is no degree of researches and analysis that will make shitcoins involvement any less risky as when compared with Bitcoin.

Even though shitcoins only exist to divert attention, they have given people the opportunity to own Bitcoin by trading Bitcoin altcoin pairs or stable coins so they can buy Bitcoin. However, Bitcoin has proven to be the best compared to altcoins, so Bitcoin is still someone's main investment target.

They can use shitcoins only for smaller portions or for daily trading while they invest in Bitcoin by accumulating it using DCA. They can use the profits from trading altcoin pair Bitcoin or stablecoins to buy Bitcoin. That is one way to own Bitcoin, and it can also be used to carry out the DCA method.

But we have to remember that using shitcoins has a big risk because we don't know which shitcoins can provide profits, even though we can analyze them one by one. Not many shitcoins are able to survive for a long time while Bitcoin has proven to be able to survive for a long time.

How can a newbie understand what you are saying? A newbie who is new into bitcoin investment should never be encouraged to trade altcoins and use the profit they generate to buy bitcoin through DCA. This is just like sentencing the person to death. What's the guarantee that they are going to make profit by trading altcoins? Why encouraged people to do something that you know the risk is very high and has every tendency of liquidating someone within hours. I don't support the idea of investing a penny in altcoins, there is no further in it.

Well some of these newbie won't really understand till they have witnessed the effect and risked involved in trading altcoins (shitcoins) first hand by themselves. For me I think it's really crazy and it's also like telling someone to go and gamble then after gambling use the profits that you might get ^probability because there is even more chances of you losing everything in that shitcoins trading because some of these projects are actually control and pumped by the so called project owners, I believe as a newbie what you should be open to is actually the basis of starting an investment which involves a good paying job, patience and the DCA strategy plus the fact that you ought to be discipline for you to be able to keep up with the actual DCA strategy.

[I_Anime]

I agree with you because bitcoin only teaches you to make this investment in bitcoin, here is a waste of time investing in something else or trading. People who are used to trading enter the market with a short-term mindset and may exit with some profit, but this process is destructive to the business in the long run. It should be understood that short-term trading does not go with Bitcoin. DCAing is an ideal strategy to generate positive returns on your investment. But if you have extra funds it may be reasonable to dip with Bitcoin so that you can live comfortably and longer.

One can decide to diversify their money in investing In other project when they have gotten to the point of having enough Bitcoin in their portfolio, and most time I prefer recommending diversifying your money in other project outside this crypto space, like real estate, and other related investment outside this space, but still is ones choice ( but just make sure you have enough Bitcoin already before thinking of diversification). So that you won't endup affecting your Bitcoin accumulation due to the act of diversifying your money when you haven't gotten enough Bitcoin stashed in your portfolio.

But if you have extra funds it may be reasonable to dip with Bitcoin so that you can live comfortably and longer.

yeah you're right, one can be using $100 to purchase Bitcoin weekly for DCAing. And the same time having some cashflow to coverup some expenses when he keep up with his DCAing . If such individual by any chances endup having an extra cash. He can decide to go lump-summing with that cash , to give himself some good headstart in his Bitcoin Accumulation.

[Mayor of ogba]

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It is just funny for you to say that my view is pointless. There is no way I said that buying bitcoin on a centralized exchange is bad for newbies or those who have been in bitcoin for years. You said in your comment that it will be hard for a newbie to make use of a decentralized wallet. I want to ask you a question: What do you understand by a decentralized wallet? 

Well without stressing this particular conversation too much I think what @Dailyscript is trying to state is that for those beginners who are just starting there investment it will be wise for them to maintain there investment on the centralized exchange in other to have a good understanding about the platform and how to secure there wallet before moving it to there private wallet. I think there is sense in what he is saying and I never realized it before posting about it earlier, so actually in as much as holding our Bitcoin is not advisable on Centralized exchanges but for the safety of the beginners we shouldn't expect them to buy and move there Bitcoin to there personal wallet immediately when they have no idea about what it takes to secure there personal wallet, so like @Dailyscript observed, at first they should hold it in the CEX till they are more knowledgeable on how to secure there private wallet.

it also has lesser to no gas fees attached to buying bitcoin off the exchange and this is good cause most beginners Don have huge capital and can be starting with as little as 10$, so imagine how discouraging it would be for them to be paying for gas everything they have to move their asset to their decentralized wallets

Mate, I disagree with what you said about buying bitcoin with a gas fee on a centralized exchange; bitcoin does not have a gas fee if you want to buy it on a centralized exchange. The only time you will pay a gas fee is when you want to withdraw your bitcoin from the centralized exchange to your noncustodial wallet or when you want to send bitcoin to a family member from your noncustodial wallet. If you are accumulating bitcoin on a centralized exchange, you can withdraw your bitcoin when you have accumulated bitcoin worth $500–$1,000, so you will pay for the withdrawal fee at a time.

[lalabotax]

Mate, I disagree with what you said about buying bitcoin with a gas fee on a centralized exchange; bitcoin does not have a gas fee if you want to buy it on a centralized exchange. The only time you will pay a gas fee is when you want to withdraw your bitcoin from the centralized exchange to your noncustodial wallet or when you want to send bitcoin to a family member from your noncustodial wallet.

In what exchange you buy Bitcoin without any fees? As far as I know, there is a trading fees for any coins we buy on centralized exchanges. It doesn't make sense if we buy Bitcoin with 0 fee. I have joined many centralized exchanges, I didn't find a centralized exchange that give 0 fee for buying Bitcoin. I think you need to check again the information related to trading fees on the exchange!! 

Sure, if we want to withdraw the Bitcoin, we need to pay some transfer fees. It is not only Bitcoin, other coins must also have some fees when we want to send them to certain wallets.

[JoyMarsha]

Bitcoin investment doesn't necessarily require a large amount of funds to be invested, so taking such risk should be out of the box, DCA approach has been set to strategically make purchases even with as low funds that a person could afford, instead of using that funds to trade shitcoins, one can easily and directly invest in Bitcoin by DCAING.

That's what I always tell newbies, rather than thinking about investing in Bitcoin with big money, is it not much better to start up a DCA method of investment than waiting until one has big money or trying to invest in shitcoin because they believe that, with small money, it will give them profits than Bitcoin if the market soars. However, many people have had this kind of mentality for long and it makes me feel bad about it, in the sense that, you leave the king of crypto to invest in shitcoin that can't stay up to a decade and it becomes a forgotten coin that once existed in the cryptosphere.

[Frankolala]

Yeah, but if you did not have any BTC, then how are you going to know to wait before you buy?

Even if you started buying $100 per week of BTC on December 19, 2017, by now you would have had invested $32,700 and you would have accumulated 2.66 BTC (currently worth about $186k), so you would be right around 5.7x in profits... so there is no reason to be greedy or to be trying to second guess these kinds of matters.  The main thing is to get the fuck started and to establish a position, and surely a guy with 2.66 BTC is in a good place right now, but he still might feel that he does not quite have enough and he might feel that he needs to continue to invest at $100 per week or maybe even to be more aggressive in his weekly DCA amount.

I just have a small point that today bitcoin price is around $70k and if we are comparing last 7 years DCA till today then it looks good. But few months back price of Bitcoin was under $20k and at that spot thing might not look as ideal as they are today.

The statement "Things might not look as ideal as today" is a little bit confusing because things should have look so ideal then compeard to now. I think DCA by then would have been better because whoever that invest in btc few months ago  maybe $20 each week through DCA strategy would have yield alot of profit even if we know it will be saved for 10 to 20 years. you would have made alot of money.  I think you are trying to make a point but your Grammer turns to mean another thing.

There is consent that some investment is better then zero investment. If I talk about myself then if I have been investing into bitcoin since 2017 then I might be in some good position. But since I started investment quite late so I have to wait for a while to see my portfolio in good position.

You don't really need to see your portfolio look pretty much nice before accumulation. Accumulation should not be done aggressively but be done I a manner that would not affect us. You can invest as low or small as $10per week and you may not feel that you are investing. You may know the power of investment after an interval of 10 to 15 years.

I agree with you on this idea of not looking at your portfolio before buying more bitcoin because as long as you are using DCA method to accumulate regularly, there is no need. What I do is that, I write down how many Satoshi I acquire everyday week and at the end of the month, I sum it up. This is how I do every month so that I don't start thinking that I have accumulated enough, or when the price pumps, I don't start thinking of the profit in my bitcoin investment.

Sometimes over looking at your portfolio, can give you false hope that you have accumulated some good quantity that you might be tempted to take a little profit, if you are not disciplined at stay focus on your bitcoin goal. As long as I am DCAing regularly, I know that my bitcoin portfolio is increasing weekly, and that is the joy of buying regularly.

[JayJuanGee]

[edited out]

Mate, I disagree with what you said about buying bitcoin with a gas fee on a centralized exchange; bitcoin does not have a gas fee if you want to buy it on a centralized exchange. The only time you will pay a gas fee is when you want to withdraw your bitcoin from the centralized exchange to your noncustodial wallet or when you want to send bitcoin to a family member from your noncustodial wallet. If you are accumulating bitcoin on a centralized exchange, you can withdraw your bitcoin when you have accumulated bitcoin worth $500–$1,000, so you will pay for the withdrawal fee at a time.

Fuck gas fees.

Bitcoin does not have "gas fees" under any circumstances.

That is stupid-ass shitcoin language.

When a person withdraws from an exchange, there can be exchange fees and transaction fees.

When bitcoin is transacted peer to peer and without any intermediary, then that would just be transaction fees.  

Of course, sometimes people might believe that they are transacting peer to peer, yet if they are using some kind of custodian, then there could be some fees that are coming from the custodian rather than serving as pure transaction fees.

The reason for waiting for higher amounts for withdrawal (such as $500 to $1k) is not merely for saving on possible exchange fees, but also to attempt to engage in preventative measures in regards to UTXO management.  Guys can choose lower amounts for their withdrawal amounts, yet they still need to attempt to account for their own ways of buying BTC, if they might be buying $100-$500 at a time, or maybe they are ONLY buying $5 to $50 at a time... so there may well be some value in terms of not withdrawing every time they buy BTC, especially if their transaction amounts are towards the lower amounts, yet each person needs to balance these matters for themselves and figure out the various trade-offs in regards to present UTXO management and also attempting to understand how UTXO management might evolve in future years, including when they might be wanting to transact with their UTXOs later down the road, and it might be quite costly for them if they were to have several thousands of dollars in BTC, yet many of them are very small amounts that cause them to be very expensive to either use or to move.

[edited out]

I agree with you on this idea of not looking at your portfolio before buying more bitcoin because as long as you are using DCA method to accumulate regularly, there is no need. What I do is that, I write down how many Satoshi I acquire everyday week and at the end of the month, I sum it up. This is how I do every month so that I don't start thinking that I have accumulated enough, or when the price pumps, I don't start thinking of the profit in my bitcoin investment.

Sometimes over looking at your portfolio, can give you false hope that you have accumulated some good quantity that you might be tempted to take a little profit, if you are not disciplined at stay focus on your bitcoin goal. As long as I am DCAing regularly, I know that my bitcoin portfolio is increasing weekly, and that is the joy of buying regularly.

Personally, I think it is a good idea to attempt to keep track of your costs per BTC, even if you are not going to be tempted into selling them, but hey guys can do what they like in terms of keeping track of various aspects of their BTC holdings.

[Mayor of ogba]

[edited out]

Mate, I disagree with what you said about buying bitcoin with a gas fee on a centralized exchange; bitcoin does not have a gas fee if you want to buy it on a centralized exchange. The only time you will pay a gas fee is when you want to withdraw your bitcoin from the centralized exchange to your noncustodial wallet or when you want to send bitcoin to a family member from your noncustodial wallet. If you are accumulating bitcoin on a centralized exchange, you can withdraw your bitcoin when you have accumulated bitcoin worth $500–$1,000, so you will pay for the withdrawal fee at a time.

Fuck gas fees.

Bitcoin does not have "gas fees" under any circumstances.

That is stupid-ass shitcoin language.

When a person withdraws from an exchange, there can be exchange fees and transaction fees.

When bitcoin is transacted peer to peer and without any intermediary, then that would just be transaction fees. 

Of course, sometimes people might believe that they are transacting peer to peer, yet if they are using some kind of custodian, then there could be some fees that are coming from the custodian rather than serving as pure transaction fees.

The reason for waiting for higher amounts for withdrawal (such as $500 to $1k) is not merely for saving on possible exchange fees, but also to attempt to engage in preventative measures in regards to UTXO management.  Guys can choose lower amounts for their withdrawal amounts, yet they still need to attempt to account for their own ways of buying BTC, if they might be buying $100-$500 at a time, or maybe they are ONLY buying $5 to $50 at a time... so there may well be some value in terms of not withdrawing every time they buy BTC, especially if their transaction amounts are towards the lower amounts, yet each person needs to balance these matters for themselves and figure out the various trade-offs in regards to present UTXO management and also attempting to understand how UTXO management might evolve in future years, including when they might be wanting to transact with their UTXOs later down the road, and it might be quite costly for them if they were to have several thousands of dollars in BTC, yet many of them are very small amounts that cause them to be very expensive to either use or to move.

Thanks for the correction at JayJuanGee. I wanted to say one can only pay an exchange transaction fee when he or she wants to withdraw his bitcoin from a centralized exchange. I appreciate your effort in guiding us to the right part of bitcoin.

[JayJuanGee]

[edited out]

Mate, I disagree with what you said about buying bitcoin with a gas fee on a centralized exchange; bitcoin does not have a gas fee if you want to buy it on a centralized exchange. The only time you will pay a gas fee is when you want to withdraw your bitcoin from the centralized exchange to your noncustodial wallet or when you want to send bitcoin to a family member from your noncustodial wallet. If you are accumulating bitcoin on a centralized exchange, you can withdraw your bitcoin when you have accumulated bitcoin worth $500–$1,000, so you will pay for the withdrawal fee at a time.

Fuck gas fees.

Bitcoin does not have "gas fees" under any circumstances.

That is stupid-ass shitcoin language.

When a person withdraws from an exchange, there can be exchange fees and transaction fees.

When bitcoin is transacted peer to peer and without any intermediary, then that would just be transaction fees. 

Of course, sometimes people might believe that they are transacting peer to peer, yet if they are using some kind of custodian, then there could be some fees that are coming from the custodian rather than serving as pure transaction fees.

The reason for waiting for higher amounts for withdrawal (such as $500 to $1k) is not merely for saving on possible exchange fees, but also to attempt to engage in preventative measures in regards to UTXO management.  Guys can choose lower amounts for their withdrawal amounts, yet they still need to attempt to account for their own ways of buying BTC, if they might be buying $100-$500 at a time, or maybe they are ONLY buying $5 to $50 at a time... so there may well be some value in terms of not withdrawing every time they buy BTC, especially if their transaction amounts are towards the lower amounts, yet each person needs to balance these matters for themselves and figure out the various trade-offs in regards to present UTXO management and also attempting to understand how UTXO management might evolve in future years, including when they might be wanting to transact with their UTXOs later down the road, and it might be quite costly for them if they were to have several thousands of dollars in BTC, yet many of them are very small amounts that cause them to be very expensive to either use or to move.

Thanks for the correction at JayJuanGee. I wanted to say one can only pay an exchange transaction fee when he or she wants to withdraw his bitcoin from a centralized exchange. I appreciate your effort in guiding us to the right part of bitcoin.

I think that there are some exchanges that allow more flexibility than others in terms of how fast to send BTC and also what methods to use, so exchanges are not all created equally, just like some wallets have more abilities to engage in coin control than others, which can really come in handy when we might be trying to figure out how to spend or send our coins in ways dealing with privacy and/or choices about fees that we might want to pay with trade offs regarding how long it might take to get confirmed, including that we could end up making mistakes if we select fees that are overly high or overly low..

[FinePoine0]

[edited out]

Mate, I disagree with what you said about buying bitcoin with a gas fee on a centralized exchange; bitcoin does not have a gas fee if you want to buy it on a centralized exchange. The only time you will pay a gas fee is when you want to withdraw your bitcoin from the centralized exchange to your noncustodial wallet or when you want to send bitcoin to a family member from your noncustodial wallet. If you are accumulating bitcoin on a centralized exchange, you can withdraw your bitcoin when you have accumulated bitcoin worth $500–$1,000, so you will pay for the withdrawal fee at a time.

Fuck gas fees.

Bitcoin does not have "gas fees" under any circumstances.

That is stupid-ass shitcoin language.

When a person withdraws from an exchange, there can be exchange fees and transaction fees.

When bitcoin is transacted peer to peer and without any intermediary, then that would just be transaction fees. 

Of course, sometimes people might believe that they are transacting peer to peer, yet if they are using some kind of custodian, then there could be some fees that are coming from the custodian rather than serving as pure transaction fees.

The reason for waiting for higher amounts for withdrawal (such as $500 to $1k) is not merely for saving on possible exchange fees, but also to attempt to engage in preventative measures in regards to UTXO management.  Guys can choose lower amounts for their withdrawal amounts, yet they still need to attempt to account for their own ways of buying BTC, if they might be buying $100-$500 at a time, or maybe they are ONLY buying $5 to $50 at a time... so there may well be some value in terms of not withdrawing every time they buy BTC, especially if their transaction amounts are towards the lower amounts, yet each person needs to balance these matters for themselves and figure out the various trade-offs in regards to present UTXO management and also attempting to understand how UTXO management might evolve in future years, including when they might be wanting to transact with their UTXOs later down the road, and it might be quite costly for them if they were to have several thousands of dollars in BTC, yet many of them are very small amounts that cause them to be very expensive to either use or to move.

Thanks for the correction at JayJuanGee. I wanted to say one can only pay an exchange transaction fee when he or she wants to withdraw his bitcoin from a centralized exchange. I appreciate your effort in guiding us to the right part of bitcoin.

I think that there are some exchanges that allow more flexibility than others in terms of how fast to send BTC and also what methods to use, so exchanges are not all created equally, just like some wallets have more abilities to engage in coin control than others, which can really come in handy when we might be trying to figure out how to spend or send our coins in ways dealing with privacy and/or choices about fees that we might want to pay with trade offs regarding how long it might take to get confirmed, including that we could end up making mistakes if we select fees that are overly high or overly low..

Here if you want to send bitcoins to exchanges then you must definitely pay the cost, and you can complete the transaction according to your mempool which will be of great benefit.  Because Bitcoin Mempool is so important that they provide the right information at the right time, there is no doubt that you will benefit from using it.  If you use Mempool then you will save your time and be able to do Bitcoin transactions properly and you can benefit from every aspect.