Not that I am deviating from this topic but this is one thing that holds some of our ladies remaining single that is wanting to achieve some specific investment or a desired dream before going into family mood. Usually when you work hard you can both achieved them all it depends on your personal arrangements how you wanna plan your life. Investing in bitcoin doesn't have anything connection as family woman or not the purpose of investment is for use after maturity and when there's need for investment and the investment is nor yielding any further results would you be still happy? No but then there's no family attached or involved into it, the main target is just pray for a better investment I have seen some single investment that turns people's life around and, In this you must not think of diversifying your investment to secure your money. A single luck of investment would end your 5 years targets of investment.
I doubt that we should be thinking about bitcoin in those kinds of ways of getting rich quick, even though bitcoin may well be amongst the best of investments... but if we are seeking to get rich quick and identify that kind of investment, then we may well end up getting lured into shitcoins.. and maybe that is not what you were trying to say... but it surely can be quite challenging for anyone to figure out how to identify good things to invest into, and bitcoin is available to an overwhelming number of normies.. but on the surface, bitcoin might not seem sexy enough.. as compared to some shitcoin.. so it seems that your way of framing the whole matter is a bit luring towards chasing around get rich quick schemes rather than seeing the value of bitcoin right in front of us that may or may not result in great appreciation of value in a short time.. even though we likely can see a lot of aspects of bitcoin that could cause it to 10x to 20x from here and not really end up correcting back down in any kind of meaningful way.. but we still cannot count on those kinds of things.
If we have $100k in our investment portfolio, and we currently have 10% in bitcoin (so $10k in bitcoin), then maybe we might choose to become more aggressive in regards to our bitcoin allocation... perhaps? perhaps?
If we are brand new to investing, and maybe we have $10k in bitcoin and $5k in various forms of cash.. and are there ways to be more aggressive? We still might not be rich, even if our bitcoin investment goes up 20x from $10k to $200k.. so I am not suggesting that I know the answer since each of us needs to make these kinds of balances from our own perspective (accounting for our finances and our psychology.. and of course other related personal considerations, including the
9 that I listed in my other post).
I am not sure if we can make that general of a statement regarding what a guy should do once he starts to feel that he no longer needs to DCA.. because there can be quite a bit of variance in regards to how much a guy might be cutting out DCA or ONLY doing DCA during certain kinds of BTC price conditions.
Maybe it would be helpful to give a couple of examples?
Hypo 1 (10-year BTC investor who came into bitcoin already with a decently large investment portfolio)
.
And, part of my point is that the time in which each of these person is going to feel that he has enough BTC is going to differ, and surely there are advantages in regards to having had started accumulated BTC earlier, and it may well be difficult for later comers to catch up.. and even the person with the worst situation (hypo 6) has a pretty decent advantage over a person who is brand new to bitcoin, unless the person comes in and is already able front load the investment and being able to buy a couple of BTC to get caught up to hypo 6.
I think person in Hypo 1 and 2 are comfortably placed with 300 and 115 Bitcoins with less investment and they can think of varying there investment ratio in Bitcoin. I got a snapshot of Bitcoin price in last 5 years and they are not as lucrative as price was 10 years back (from 2013 to 2018).
Defiantly those who are early into Bitcoin and investing for last 10 years have edge over the ones joining 5 years ago or today. In Jan 2013, price of Bitcoin was around 13$ and in Dec 2013 it was around 700$. So one can easily figure out how much Bitcoins one can have if he is accumulating in that ear with 100 dollars per week. If you back to 2011 then Bitcoin was around 1$.
Yeah, but why do you need to go there?
I already described pretty good situations with Hypo 1 and 2, with hypo 1 having an average cost per BTC of $750 and hypo 2 having an average cost per BTC around $1,130, so there is no need to even make the problem easier by suggesting that they bought at the bottom of various earlier time periods. Even if we go back 10 years from now, we still have BTC prices in the area of $1k per BTC, even though there was a dip in BTC prices for the next few years...
So why?
Why have to fantasize about getting even lower prices?
Yeah of course, there are people who are way better off than those in hypothetical 1 and 2, but if we are trying to address questions regarding when the dilemmas exist in regards to whether it is worth it to continue to accumulate BTC and what circumstances might trigger desires to accumulate more BTC, even if you already have a lot of BTC, the 6 hypotheticals already show differences in the levels of dilemmas that any of them might have, and if we get into situations that are even better than hypothetical 1 and 2, are we being realistic in terms of considering whether or not they might have dilemmas?
Sure the ones who are even better off than hypothetical 1 and 2 still might have dilemmas, but they are not the kinds of realistic dilemmas of broader levels of appeal or anything that newbies to bitcoin or those who might have ONLY been in bitcoin for a few years should be feeling any needs to fantasize about situations that currently are not even close to being in front of them. They likely have to pass through variations of hypothetical 1 through 6 (in reverse order) before they are even close to being in those kinds of higher fantasy levels..
It is pretty doubtful that investing into bitcoin as aggressively as possible, even with investing a million dollars right now is going to get you close to the same levels of bitcoin that the ones who are better off than hypothetical 1 and 2 are facing.. so right now a million dollars is going to get you right around 23.5 BTC... so it could be a bit of a challenge to catch up to any of those in hypothetical 1 and 2 and even though there are abilities to get close to those in hypotheticals 3 through 5,.. but with way more upfront capital invested..
But even someone investing $100k right now into bitcoin will have had to struggle a lot more than the person in hypothetical 6, since the one in hypothetical 6 ONLY had to put $26k into his bitcoin investment over the past 5 years, and maybe the person in hypothetical 6 might not have had been in a position to invest more aggressively than the $100 per week that he was able to invest over the past 5 years.... so such a person would never be able to come up with $100k to invest into bitcoin even though his current BTC stash is getting to those levels of valuation...and he continues to buy $100 per week and to consider ways to increase his investment amount by increasing his income and/or reducing his expenses.
The person joining this year can surpass hypo 6 if he has lots of capital. With small capital you can't surpass even hypo 6.
I would not consider coming up with $85k right now in order to buy 2 BTC to be small capital.. and sometimes a person who invests over so much time, is way more empowered by having had spent that time.. even if the amount ended up ONLY being $100 per week, but maybe that could have had been as aggressive as he was able to be over the last 5 years... and yeah, maybe a person who is ONLY investing $10 per week is only at 0.2 BTC (valued at $8,500) after 5 years, but if that is as much as he is able to invest, then he is still quite a bit better off by investing into bitcoin rather than not doing so.. as long as he is able to safeguard his investment so he does not end up losing it.
Even investors in hypo 4,5 and 6 should not stop investing in DCA manner, as we still have to see full potential of Bitcoin.
Maybe, we cannot really know their circumstances, but you might be correct that it makes sense for them to keep building their stash, but if the are already getting into their 60s, they might be at a point where they are not really able to continue to build their stash and might have to consider ways to start to transition into either maintaining and/or even selling portions of their BTC stash to support or to supplement their living.
Fair enough.
[edited out]
Marriage is a new relationship between one family and another family. Marriage means the responsibility of a family falls on a boy. Life before marriage is same and life after marriage is same. Society says get yourself a good job first then get married but I have actually seen many couples who got married without any job got success after marriage. Many people's success comes late and many find their success early. Along the way I have also met people who got a good job after completing their graduation but left that job because they were exposed to Bitcoin while studying and have invested in Bitcoin ever since.
The person I'm talking about was a bank officer but he left the job due to overtime rules and is now running a household depending on the investments he made in bitcoins in the past and tedding as well. Not everyone gets success by just working, many get success by doing something else. The person who left the bank job believed that he would be able to manage the family through his investments and trading which is why he left the job.
Since he was involved with Bitcoin since his student days, I would call this a long-term investment even though he had no plans for this investment. He converted the money he was making from the crypto platform into Bitcoin and today he owns about two BTC.
You are correct Litzki1990.. it is very challenging to get rich, or get to fuck you status through various traditional means, and there has to be some kind of investments or even business related matters that end up way out performing regular investments.
Before I got into bitcoin, for more than 20 years, I had been using regular methods to accumulate wealth and those various investments performed on average about 5.5% per year, and they had some good years and bad years and really, I am calculating that performance in nominal wealth (and/or nominal appreciation) rather than in real terms, which would account for how the dollar debased during those more than 20 years.. .without bitcoin, those traditional investments have continued to perform in similar ways, even though in the past few years, it seems that the debasing of the dollar did end up going way higher (which is something that people of other currencies are more used to, but yeah even the dollar is getting debased more rapidly, which it still has the advantage of being the strongest of all the fiats.. which is not really saying a lot for the whole systems perilous status).
In other words, it seems more and more and more important to either put some money in bitcoin or to retain some of your value in bitcoin... even if you have plans to cash out some of the price appreciation of your BTC at various points as it goes up (if it goes up), and so therefore, you have to consider how many BTC are you willing to give up when you do end up selling at various points on the way up.. .and will you get them back.. perhaps yes, perhaps no, depending on how much you sell and at what points, so needs to be careful in terms of calculating any of the various selling on the way up techniques, especially if you do not have a lot of coins, yet.
I am not sure if we can make that general of a statement regarding what a guy should do once he starts to feel that he no longer needs to DCA..
There may be a closely look on the situation that may have warrant for him to have make such statement, we should believe that so many people started well but along the line couldn't push on to continue because of their presents challenge, life is not what is fix itself, we made decision today to find out that tomorrow we cannot longer continue in that due to the things we are having encounter with.
The first aspect may be through his financial challenge, we cannot say maybe he has tried all means to ensure a steady flow of income that could be sustainable for his DCA but couldn't achieve any difference, some may be their personal decision, family influence or any others related obstacles that can make an investor to quit DCA or even sell his asset completely which he hodl.
It sounds like you are trying to make excuses for the guy who sells too many BTC too early, and yeah, he may have regrets, and maybe he needs to invest an amount that is workable for him and not putting himself into stress by having so much of his value in bitcoin?
None of us can tell the solutions for anyone else, and so each person has to decide for himself how to balance his various
9 factors in regards to figuring out how much BTC he is able to buy on a regular basis and then the various timelines for managing those holdings in light of other investments that he might have..
To realise quick profit in Bitcoin, one can be so lucky to buy today and the next day the price rise giving unimaginable profits. The reverse can also be the case and the result could be a huge loss. In reality, this is pure gambling which can be avoided by simply adopting the long term perspective.
Quick profits in Bitcoin sound to be almost an impossible thing to achieve for small bitcoin investors, majority of those who benefits from Bitcoin price sudden increase are thise who buy a whole bags, those are the whales whi can buy Bitcoin i several units, sime time like 4 Bitcoins or above, that way, whatever the percentage of the price increase, you definitely have good amount as profits turn out.
Yeah, but even the person who might have had been struggling to buy $10 to $50 per week for many years may well end up in a very good position if the BTC price goes shooting up at various points during the BTC accumulation journey.
Sometimes the BTC price goes shooting up and it does not correct back down, and other times, the BTC price goes shooting up and it corrects back down, so it sometimes can be difficult to figure out the extent to which profits had been made or if the UPward BTC price move ended up being something that was not going to correct.
I still feel that long term approach gives bigger profits in addition to less stress Those who bought Bitcoin early part of the year and refused to sell might have seen good profits now far more than those who sold when the bull run started. Those they will hold into next year following the halving might even see more.
Long term approach is the best for mostly small Bitcoin investors those that buy small amounts of sats and hold for a long before selling and at the same time accumulate more Bitcoin while making good use of the DCA tools to gain long-term benefits.
Ok. that is something similar to what I am saying above too.. because we cannot really be sure whenever some kind of an upward price move will happen and no subsequent correction...and it is not even guaranteed to happen, even though we can look at bitcoin's investment thesis remaining strong and not really getting any weaker with the passage of time.
