Bitcoin Buyers Club

[grintsch]

But who will hold my bitcoin and ensure it is safe and I am the owner? If you have an accident or lost your wallet, who will compensate me for bitcoin?
I think this should only be done on our own and we should not work together to avoid bad situations.

You. I really don't want to touch or facilitate your money or your purchases :-)

[1713430473]

1713430473

[grintsch]

What is the purpose for compiling people who have been cost averaging all of the time? Isn't this just going to make a sort of database that anyone can benefit out of it? I have taken a look at the spreadsheet and it contains only two forms.

Is this just a sort of survey or study?

It's a bit of an educational purpose, combined with herd mentality arguments why more people should be buying Bitcoin. It was just an idea, seems it's being taken kinda controversially, but that's exactly what I was trying to figure out :-)

[jossiel]

What is the purpose for compiling people who have been cost averaging all of the time? Isn't this just going to make a sort of database that anyone can benefit out of it? I have taken a look at the spreadsheet and it contains only two forms.

Is this just a sort of survey or study?

It's a bit of an educational purpose, combined with herd mentality arguments why more people should be buying Bitcoin. It was just an idea, seems it's being taken kinda controversially, but that's exactly what I was trying to figure out :-)

Well, I understand that it's for good purpose but basically these kinds of forms have been popular in the forum. We're just curious asking about the purpose of it, nothing controversial with that.

Are you going to post the results here as well?

[grintsch]

Well, I understand that it's for good purpose but basically these kinds of forms have been popular in the forum. We're just curious asking about the purpose of it, nothing controversial with that.

Are you going to post the results here as well?

Sure, as soon as there's a bunch of people who have filled it in I'll be publishing it. So far traffic has been rather low ;-)

[jostorres]

It is a good idea though, but we don’t have to force people to make investment before they know they are meant to actually prepare for the future, and like you have advised in your post, people are at least meant to set aside what they will use to be making an investment on a monthly basis, but when they want to do that, they have to be very careful and be sure that they make investment when the value of bitcoin has bottomed.

Bitcoin is still a coin that is exceptional though because the value that bitcoin will get to in the future will be far greater than what we have ever seen, but the same time, we still have to be very smart in our investment. The amount you ask for here is actually nothing much that anyone cannot risk, and I think it may still be worth it to actually consider.

[Ridwan Fauzi]

Yeah that is good idea, but I'm still wondering the seller who will sell bitcoin for every months, is that you, isn't it?

It's just a kind of savings, at least everyone will open their eyes to save their money to the right place. If we compare with bank maybe bitcoin is really promosing rather then it. I'll keep this thread closely maybe next months I'll start it.

[TheCoinGrabber]

Instead of a monthly purchase I'd probably set a total annual amount I'd like to invest in Bitcoin. (I ain't that rich enough to regularly buy) Then I'd just sprinkle them out throughout the year during crashes.

Everybody should do whatever they think is best and what they feel comfortable with. I prefer the automation; if it's about long-term investing it's the equivalent of buying ETFs or stock regularly. However, never put any money in crypto that you can't afford to lose (at least up to this point).

Yes, I just put in what is basically spare change. You mentioned automation, so do you have it set up like a purchase is made using your credit card or something or you just set a reminder and then buy on that date?

[smyslov]

I've been tossing around the idea of starting a group of people who are committed to buying Bitcoin every month. Can be a small portion, like 5$, or however much people can afford (I suppose it would make sense to use higher amounts for fee reasons, though). I myself have set up a monthly wire transfer from my bank account to Coinbase and a recurring purchase of Bitcoin every 1st day of the month. This is really simple, and you keep investing and $-cost-averaging your BTC purchases.

To be clear: I don't want you to send money to me or anybody else, I don't want to make money decisions for you and this is not investment advice. What this is about:
1. Explaining the benefits of buying periodically
2. Showing ways to do so
3. Compile a bunch of people who want to display their commitment to buying Bitcoin

Also, I don't really care what you do with the BTC you purchase over time. Of course, in order to keep demand up you may want to HODL them or earn interest by lending them. Otoh, if you want to foster adoption, I'm also more than happy if you spend them. And, of course feel free to sell them after a bull run. I don't mind, so long as you keep buying every month :-)

If you already have set up recurring purchases or you plan to, feel free to fill in the Google form and I can link it to a spreadsheet. I might also prepare kind of a guide to give some background information.

I created a Google Form where anyone who wants to express their commitment to BTC can do so: https://forms.gle/rjD81677yipAVhtaA

Again, I'm not planning on making money from that, just want BTC to have a healthy demand.

That's a good idea if we have thousands like you who are committed to creating a club like this and on every country we will have a good price movement, but not all people are the same, there are people who are weak investors and would rather wait, for the market to have a good news before buying, but the bottom line is always invest or buy what you can afford to lose.

[Getmon]

This is kind of hard to commit myself into. I might run out of money in the middle of my commitment. I cannot afford to buy Bitcoin regularly. In fact, I am only buying and selling altcoins when there are huge swings to make my Bitcoin grow. It is only when I make a good income and I have some spare money that I can think of putting it into Bitcoin. But the condition should be that the price is cheap. I don't buy during pumps.

[Obito]

This is good initiative. More will be interested in doing cost-averaging if they are seeing somebody getting successful or getting good profit in doing it.

I start to consider this one. I have no idea with this stuff around and it seems to be a trend before, or a norm I guess so. Well new tips acquired. Though as the man stated above how it would supposed to outweighed stock market. I love how bitcoin works in a sense of its nature that you could just invest and sleep, then waking up a millionaire.

I have just one concern. If it is going to be a club, some information might or will be exposed. I do not want to expose my identity or how much BTC I have. How do you propose to keep each individual anonymous?

Maybe he will be considering to accept anonymous accounts. Unique identity will be enough so.

This is highly need to be addressed specially those people who want to keep off-track to avoid unnecessary events.

[davinchi]

I have a coinbase wallet and I like the recurring purchase feature but I don't make use of their wallet due to they don't offer day trading to those that live in my country. So I have switched to making use of Luno wallet and there is also a feature to allow users who want to purchase bitcoin with their debit card or by making a bank deposit through paystack and PayU. It's not a recurring purchase and I still prefer it that way, and only buy when I want to and the rate I want. There are times I would like to less and there are times I would prefer to buy more, depending on the situation at hand.

I don't buy bitcoin all the time, I only prefer to buy when the price falls; I bought some when the price was at $4000 and also bought at $6500 and recently at $7400.

It is only when I make a good income and I have some spare money that I can think of putting it into Bitcoin. But the condition should be that the price is cheap. I don't buy during pumps.

Yep, you shouldn't but during pumps and there's no need to go for a recurring purchase. You should only buy it when you can afford it. I don't stress myself too much on this, I just buy when I can. That's why I don't have a recurring purchase because there are times I would have plans for other things.

[Google+]

if you can collect a lot of bitcoin buyers, I appreciate you that you are a very powerful influence because it can unite all the buyers of bitcoin with a very large amount and the good thing is that you can potentially control the price of bitcoin a little at the exchange.

[Ludmilla_rose1995]

I've been tossing around the idea of starting a group of people who are committed to buying Bitcoin every month. Can be a small portion, like 5$, or however much people can afford (I suppose it would make sense to use higher amounts for fee reasons, though). I myself have set up a monthly wire transfer from my bank account to Coinbase and a recurring purchase of Bitcoin every 1st day of the month. This is really simple, and you keep investing and $-cost-averaging your BTC purchases.

To be clear: I don't want you to send money to me or anybody else, I don't want to make money decisions for you and this is not investment advice. What this is about:
1. Explaining the benefits of buying periodically
2. Showing ways to do so
3. Compile a bunch of people who want to display their commitment to buying Bitcoin

Also, I don't really care what you do with the BTC you purchase over time. Of course, in order to keep demand up you may want to HODL them or earn interest by lending them. Otoh, if you want to foster adoption, I'm also more than happy if you spend them. And, of course feel free to sell them after a bull run. I don't mind, so long as you keep buying every month :-)

If you already have set up recurring purchases or you plan to, feel free to fill in the Google form and I can link it to a spreadsheet. I might also prepare kind of a guide to give some background information.

I created a Google Form where anyone who wants to express their commitment to BTC can do so: https://forms.gle/rjD81677yipAVhtaA

Again, I'm not planning on making money from that, just want BTC to have a healthy demand.

That is a very good idea. You have a strong commitment to buying bitcoin gradually every month. But the way I collect bitcoin is not by buying it using Fiat, but from every clothes I sell. Because my clothing store accepts bitcoin and ETH as payment.

[bearexin]

^^ Oh that is great, we need more people like you to actually get into the market because there is one thing that I keep on telling people, we can only have a sustained value every time there is an increase if the increase is coming from the demand for bitcoin based on payment and not based on holding, because holding usually make anyone dump their investment at any time when they get profit.

There has been lots of times that ii have searched over the internet to actually see how many merchants that we have that is willing to accept bitcoin to be spent on their business, I found that we have little, we really need this number to actually grow with time which is even the best way to actually collect more coins like you are doing already.

[hello_good_sir]

I've been tossing around the idea of starting a group of people who are committed to buying Bitcoin every month. Can be a small portion, like 5$, or however much people can afford (I suppose it would make sense to use higher amounts for fee reasons, though). I myself have set up a monthly wire transfer from my bank account to Coinbase and a recurring purchase of Bitcoin every 1st day of the month. This is really simple, and you keep investing and $-cost-averaging your BTC purchases.

To be clear: I don't want you to send money to me or anybody else, I don't want to make money decisions for you and this is not investment advice. What this is about:
1. Explaining the benefits of buying periodically
2. Showing ways to do so
3. Compile a bunch of people who want to display their commitment to buying Bitcoin

So, it's basically a group of people that would invest in bitcoin each month, but with all different amounts and all the money all goes to their own wallets/addresses. Seems pretty safe and cool.

Also, I don't really care what you do with the BTC you purchase over time. Of course, in order to keep demand up you may want to HODL them or earn interest by lending them. Otoh, if you want to foster adoption, I'm also more than happy if you spend them. And, of course feel free to sell them after a bull run. I don't mind, so long as you keep buying every month :-)

If you already have set up recurring purchases or you plan to, feel free to fill in the Google form and I can link it to a spreadsheet. I might also prepare kind of a guide to give some background information.

I created a Google Form where anyone who wants to express their commitment to BTC can do so: https://forms.gle/rjD81677yipAVhtaA

Great motive mate, I appreciate people like you in the community. A cool sorta spin-off to this could be something where people buy BTC and are forced to spend it to promote adoption, and then showcase what they've spent it on the recent weeks.

[Getmon]

I've been tossing around the idea of starting a group of people who are committed to buying Bitcoin every month. Can be a small portion, like 5$, or however much people can afford (I suppose it would make sense to use higher amounts for fee reasons, though). I myself have set up a monthly wire transfer from my bank account to Coinbase and a recurring purchase of Bitcoin every 1st day of the month. This is really simple, and you keep investing and $-cost-averaging your BTC purchases.

To be clear: I don't want you to send money to me or anybody else, I don't want to make money decisions for you and this is not investment advice. What this is about:
1. Explaining the benefits of buying periodically
2. Showing ways to do so
3. Compile a bunch of people who want to display their commitment to buying Bitcoin

Also, I don't really care what you do with the BTC you purchase over time. Of course, in order to keep demand up you may want to HODL them or earn interest by lending them. Otoh, if you want to foster adoption, I'm also more than happy if you spend them. And, of course feel free to sell them after a bull run. I don't mind, so long as you keep buying every month :-)

If you already have set up recurring purchases or you plan to, feel free to fill in the Google form and I can link it to a spreadsheet. I might also prepare kind of a guide to give some background information.

I created a Google Form where anyone who wants to express their commitment to BTC can do so: https://forms.gle/rjD81677yipAVhtaA

Again, I'm not planning on making money from that, just want BTC to have a healthy demand.

That is a very good idea. You have a strong commitment to buying bitcoin gradually every month. But the way I collect bitcoin is not by buying it using Fiat, but from every clothes I sell. Because my clothing store accepts bitcoin and ETH as payment.

Both of you have great commitments to support Bitcoin in your own ways. But this one is particularly nice to hear. Would you mind to tell us whether your clothing store is making a bigger profit once it was opened for Bitcoin and ETH payments? Or was it originally accepting BTC and ETH from the first day? I also want to know if the crypto proceeds were also made to buy stocks of clothes or they were kept in the wallet for the bullish days.

[NewRanger]

if you can collect a lot of bitcoin buyers, I appreciate you that you are a very powerful influence because it can unite all the buyers of bitcoin with a very large amount and the good thing is that you can potentially control the price of bitcoin a little at the exchange.

its not easy to do dude,inventors or bitcoin buyer need strong reason why they have to follow us.make them believe to bitcoin price future very difficult since we were in bearish trend more than 1 year. Their confidence now in lowest level if they have to  buy bitcoin again as their Investment. the only thing we need just good news as trigger to increase demand for bitcoin. If there are good news  i am sure investors will buy it without our suggesstion.