Investing 1$ every day in bitcoin over the last five years

[ChrisPop]

Pretty mind-blowing if you think about it 

Opportunities come and go. The important thing is to be aware of the changes in the environment to catch these moments when you can really upgrade your financial game. In other words we must have an open-mind. I've noticed how old patterns and habits of our society are starting to change. Nothing lasts forever. That's why we must be flexible in our thinking and fast in our actions.

[Crptomagma]

If I knew these five years by now I should be having profit of above $20,000 by just investing $1 everyday in bitcoin. It’s never too late and I’m glad to be in these community. So I will be working towards that maybe double my daily savings into bitcoin. I don’t know much about bitcoin investment site please someone with a legit source should please help me out.

[carlfebz2]

Pretty mind-blowing if you think about it 

Opportunities come and go. The important thing is to be aware of the changes in the environment to catch these moments when you can really upgrade your financial game. In other words we must have an open-mind. I've noticed how old patterns and habits of our society are starting to change. Nothing lasts forever. That's why we must be flexible in our thinking and fast in our actions.

Would really be mainly needed because if we do tend to held up for that long then we would really be missing out those chances on making profits or benefits in terms of money earning.

$1 everyday over the last five years isnt really something that can be easily done by a certain investor or person.It does need a lot of patience and discipline because if we do try
to look at the market on very active manner then that will surely be molding lots of decision along the way.

Calculations will not be on precise because we have seen that the price now is already almost on the ATH which means if you do anticipated lesser on what you had saved..
Well it is a way more than now.

[JayJuanGee]

now is 2020 and bitcoin is currently priced in the range of $17K - $18K, if we go back five years back in 2015 bitcoin is around $ 500, if we invest $1 per day in 5 years maybe get a pretty good profit if from 2015

You can look at this website with a chart that compares bitcoin to gold and to the stock market (generally) for what it would have been over a 5 year period of time, or you can change the settings on the chart to see that the longer that you invested your $1 per day or the more that you put in the moar richie you would be in terms of both percentage and actual substantive amounts.

The bitcoin amount shows about 10x for a daily investment strategy over the past 5 years.

This is really an eye opener, no wonder they said " slow and steady wins the race" meaning if you are consistent with whatever you do, you will surely win. However, the reason why a lot of people won't consider this is, they see it as a small amount and probably a time wasting endeavour but this article has proved everyone with that mindset wrong. Also, I believe the main idea to get from this article is, investing whatever you can about Bitcoin at every slightest opportunity be it daily, weekly or monthly, will surely yield a lot at the long run. I have really learnt something today and will definitely put it to practice.

If you are doing a really small amount, such as a dollar a day, it may be better to lump it into weekly.. and sure there could be some playing around, even though set it and forget it can end up working better for some people once they decide upon the amount that they feel that they will not miss and hopefully have a timeline that is at least 4 years, but even better yet if the timeline is 10 years or more and if there are ways to be a bit aggressive about the investment amount without over extending your budget, then surely those kinds of investors are more likely to even be in a better position down the road 10 years or more (or something like that).

[Gotumoot]

I think this could be a good plan for my savings next year,
I don't know if it would count as a New Years resolution but I want to give it a try.
I wonder how much could I save in 1 year I would create a new wallet for it.

[Evasdiamond]

A beautiful concept but at this current state of Bitcoin, is it still a good idea considering the fact that Bitcoins future remains uncertain?

[JayJuanGee]

A beautiful concept but at this current state of Bitcoin, is it still a good idea considering the fact that Bitcoins future remains uncertain?

You ONLY should be dollar cost averaging into any assets that you believe have long term potential and that you believe are going to end up having such value that you would be able to cash out with profits.

If you do not have confidence in bitcoin's long term potential to be worth more in the future than your average cost per BTC, then you should not invest in it.

Have fun staying poor is the current expression.. but you have to decide for yourself and don't blame anyone if it does not work out.

[bitzizzix]

The method is simple but it gives good results and it looks like the OP believes in the value of bitcoin for the next 5 years, and it takes a lot of patience and discipline to reach the target and consistency as planned, and it's not easy because for five years there will be a moment when the price is in good shape and profitable.
it looks interesting, but in my opinion it is not easy to implement because I will definitely be tempted when the price of bitcoin rises in a situation that is quite profitable for me and will definitely be tempted to sell it.

[Sithara007]

A beautiful concept but at this current state of Bitcoin, is it still a good idea considering the fact that Bitcoins future remains uncertain?

You ONLY should be dollar cost averaging into any assets that you believe have long term potential and that you believe are going to end up having such value that you would be able to cash out with profits.

If you do not have confidence in bitcoin's long term potential to be worth more in the future than your average cost per BTC, then you should not invest in it.

Have fun staying poor is the current expression.. but you have to decide for yourself and don't blame anyone if it does not work out.

It is not an easy decision. Bitcoin is trading very close to the ATH levels, and at least some of the "experts" are claiming that it looks overpriced at current exchange rates. For new investors with limited maneuverability, it can be a tough decision. There is going to be a psychological barrier, when you want to invest in an asset at $18,000 per coin, after knowing that it was trading at $4,000 per coin just two years ago.

[Swopon]

Investing 1$ every day in Bitcoin is a huge bargain. I have contemplated and noticed that those who have invested in Bitcoin have earned reasonable profits. Regardless, it is not always profitable to understand. Because everything has ups and downs. It must be accepted. I also assume that at least Bitcoin is more profitable than the bank. So from my prior experience, I can explain that if the investment can be compelled here then something satisfactory will be waiting for me and my family in the prospect.

[shoreno]

A beautiful concept but at this current state of Bitcoin, is it still a good idea considering the fact that Bitcoins future remains uncertain?

You ONLY should be dollar cost averaging into any assets that you believe have long term potential and that you believe are going to end up having such value that you would be able to cash out with profits.

If you do not have confidence in bitcoin's long term potential to be worth more in the future than your average cost per BTC, then you should not invest in it.

Have fun staying poor is the current expression.. but you have to decide for yourself and don't blame anyone if it does not work out.

It is not an easy decision. Bitcoin is trading very close to the ATH levels, and at least some of the "experts" are claiming that it looks overpriced at current exchange rates. For new investors with limited maneuverability, it can be a tough decision. There is going to be a psychological barrier, when you want to invest in an asset at $18,000 per coin, after knowing that it was trading at $4,000 per coin just two years ago.

experts are actually buying more and predicts that btc can shoot up to 100k dollars while non experts are the ones that are worrying and thinks that price will now start to collapse and this discourage them to buy but this will also make them sold early . new investor can mean that they are new in crypto investing but they have experience in investing in other assets but there are also new investors that are literally new to every investment , which one do you mean by that ? experienced investors will forgot the past of the coin but will foccus more on its future .

[samputin]

For some people $1 is very small. But if it is to be invested in the long term, it will certainly generate a lot of money. Like saving in a bank without realizing the money we have collected is already a lot. But in bitcoin, of course, our money will double because the price is increasing every year.

That's right. $1 is actually a good amount when converted to our country's currency. I actually paused depositing on my savings account in our local bank here and just started on investing with cryptocurrency (bitcoin, in particular). And so far, I'm liking the result. Well, I'm investing those I earn in a sig campaign for now. Nex year, I'll try to save a portion of my salary to invest in crypto. Hope it goes well.

[Xinarae*]

Bitcoin is a very lucrative currency for investment. Bitcoin traders can invest as they wish no one has control here. At present people's confidence in the bank has decreased a lot. Bitcoin is holding their capital through investment banks do not have to pay interest instead of their currency. Bitcoin's price has to wait to rise and fall the number of investors, including the head of the economic regulatory body is also increasing. Gradually its price is increasing assuring the future of every human being.

[ChrisPop]

very good idea, but very difficult to do, because I prefer short-term trading do not like investing for many years.  I think waiting too long is very boring.  prefer to make profit every day.  Come to think of it, the result was a lot of saving over five years, but I'm not the type to wait for five years,

Yeah, man. We are all unique persons with different personalities and goals. Some like scalping, other ls tradiing while those who have other jobs and business will likely go for long-term investing.

Trading has its own twists and turns. Not a piece of cake, but it can be done profitably with dedication and focus.

[JayJuanGee]

very good idea, but very difficult to do, because I prefer short-term trading do not like investing for many years.  I think waiting too long is very boring.  prefer to make profit every day.  Come to think of it, the result was a lot of saving over five years, but I'm not the type to wait for five years,

Yes have fun staying poor.

One of the ways to become rich is to invest over a long period of  time, and many people even are NOT able to accomplish such after 30 years because they believe that they are smarter and they engage in all kinds of smarter than everyone else tweaks along the way, such as trading.

The punchline is to accumulate over a long period of time, and the $1 per day is used as an example for someone who might not have a large cashflow.  I recall that when I was in college, my cashflow sucked to beat hell, and after i left college I had way too much cashflow, compared to what I had.  Some people squander away their excesses on consumption goods rather than engaging in solid investment and deferred gratification, DCA is definitely one of the better of ways to get there, whether we are talking about $1 per day or some amount that might be greater depending on potential excesses in your budget that can be shaved off and start compounding earlier rather than waiting until later when the compounding effect has less of an effect because time is one of the best of compounders and therefore one of the best friends of sound and prudent investing - even though it does end up causing deferred gratification, which it seems that you, Irdina, are struggling with such a deferred gratification concept.

[XZERO1]

That's a smart way of investing as it doesn't put much pressure on you financially since you're adding slowly to your stack, the other way to do this would be to always put some percentage of your monthly income like 5% aside for buying Bitcoin and keep it in your personal wallet, it's just like saving money just in the form of crypto.

One of the ways to become rich is to invest over a long period of  time, and many people even are NOT able to accomplish such after 30 years because they believe that they are smarter and they engage in all kinds of smarter than everyone else tweaks along the way, such as trading.

True, I really don't get why so many people still prefer to trade short-term instead of investing in what they believe in for long-term, specially knowing most traders lose money anyway and there are still some people that act like it's free money in trading everywhere.

[TedMosby]

very good idea, but very difficult to do, because I prefer short-term trading do not like investing for many years.  I think waiting too long is very boring.  prefer to make profit every day.  Come to think of it, the result was a lot of saving over five years, but I'm not the type to wait for five years,

been doing what you have mentioned above this year. 2-10% a day is enough for me. but every time I saw the price, I will regret some of my decisions. Because I can get more profit just by doing nothing, rather than pointing my eye to the chart. I think the most profitable way in this case still investing, not short-term trading.

however, it could be different if you talk about a different coin.
it could be more profitable for short term trading.
let say defi coin, since 2020 is defi year.
if you have early information at the early stage of defi this year, you could easily get at 3-10x profits for 1 project.
all people did a hit and run investment on most of the defi projects.

[error08]

That's a smart way of investing as it doesn't put much pressure on you financially since you're adding slowly to your stack, the other way to do this would be to always put some percentage of your monthly income like 5% aside for buying Bitcoin and keep it in your personal wallet, it's just like saving money just in the form of crypto.

Yes, it's true but not efficient, it's just an illustration of a way to accumulate bitcoin in 5 years which means $365/year multiply by 5 = $1,825. However, if you can spend $100-$200 per 3 months or 6 months to buy Bitcoin at a lower price will be worthwhile than $1/day. The main idea of course to hold bitcoin as much as possible and the challenge is to hold it for 5 years, trading is a good way to increase our coins but may be problematic for some people who buy or sell at the wrong time.

[OpenCryptoSystem]

What if you also not just invest any time but you try to buy the dips could it help ?

[Sithara007]

What if you also not just invest any time but you try to buy the dips could it help ?

If it was so simple, then everyone would have done that and become millionaires. Ideally, it is never recommended to purchase any asset, when it's price is falling. In the stock market, there is even a saying which goes like this: "Don't catch a falling knife". The purchase should be done when the recovery phase is going on, and not when the prices are falling like a rock. But then, there are several strategies, and purchasing for a fixed amount every day is one of them.