My Past nine months bitcoin journey

[kawetsriyanto]

Not all people can invest big, for the OP, his strategy is working for him.
We have our own preferences when it comes to investments, and in this case, he opted for bitcoin only.

Yep, each person may have a different strategy or method of investment. We don't think that a certain strategy can work for all people and works every time. OP can choose a strategy that fits with him, and he also used it at the right time. I am not sure it can work as well as OP did when it is used by another one. Also, considering the current situation on Bitcoin and crypto market, not really sure it can be good to apply nowadays. A certain investment strategy can work well if it is used at the right time, but this time seems not a proper time to use it. Especially if it is applied by another person, not OP.

IMO

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[JayJuanGee]

Interesting story, according to you, the purpose of this investment is long term, however, I'm wondering how you considered Bitcoin as your best investment? Don't get me wrong, but, the amounts being invested are quite small, considering Bitcoin's value. I believe that sometimes, investing in some other reputable altcoin, such as Ethereum, Cardano, Binance and many more, is deemed more profitable than purchasing Bitcoin.

First of all, this thread is about bitcoin and not about various shitcoins, and surely if you are going to consider any investment you need to consider both upside and downside potential, and if you are investing blindly with a kind of DCA strategy then you are betting that in the long term the price is going to be higher than over the period that you had been buying into the coin.  Accounting for the fundamentals of those various shitcoins that you list need to employ some different calculations in terms of figuring out the various downside risks that each of them present.. including that each of those smoke and mirror shitcoin projects have way greater chances of going to zero than bitcoin and each of them is dependent on bitcoin's performance to have any value at all, even if they might have greater short term pumpamentals as compared iwth bitcoin, but we are not talking about short term here either... especially when talking about DCA, and even OP has mentioned that he has at least several years that he is considering keeping on injecting value into bitcoin.

In regards to the amount invested, of course OP had listed out his own personal budget, including how much that he believes that he has available to spare to put into bitcoin.  Historically relatively small amounts have paid off quite well, but surely we cannot expect future performance to necessarily be even close to as high as historical performance has been.

I think that in the end, people do what they can, and they should enter into bitcoin with at least a 4 year investment horizon and if they can consider their investment to be more than 4 years and maybe more than 10 years, then surely over that time they might improve their cashflow and be able to invest more into bitcoin if they are able to improve their cashflow or cut their expenses more.  There might even be some times in which windfall amounts of money might come available that can be injected into the BTC investment to add to the stash.. and surely if any of us is investing in the long term, then if we are continuing to invest into bitcoin along the way, we can assess our value and how long that we are ready, willing and able to let the investment to continue to ride.. Of course, if there develop desires to cash out some or all of the investment, then there would be considerations about whether that value is going to be used for other investments or for consumption.. and if the person is giving up the idea of investments or just considering that the investment has run its full course.

[KaliLinux]

I am away from my home working in an office and it is hard to manage both work and house at the same time for me as i came late from office. So most of the time I order food online say 3-4 times in week and was happy with that until the point i realised that i was wasting lot of money on junk food. So i decided to have my future plans as i was already investing in bitcoin so i decided to reduce my weekly budget for ordering online food and decided to invest that money into bitcoin despite the prices and just go on investing till the time being. But i made a plan that every time i would add on the fixed budget of $10 extra to btc investment and from next month increased my intial investment by $10 also.For example say my weekly budget or food expenditure was $40-$50 weekly on my 3-4 order i would reduce it to half and say invest $25 weekly and next week it would be turned to $35.Along with this I was also planning to buy some gaming stuff for my time pass but i dropped that idea for the same reason and decided that i would keep on investing in bitcoin only not any other altcoin also .So this was my plan and investment was done every week.

1^st Month Investments

Week     Investment    Bitcoin aqquired       At price

Week 1: $25                 0.0005                   $49150.53
Week 2: $35                 0.00094                  $37002.44
Week 3: $45                 0.00114                  $39294.20
Week 4: $55                 0.00147                  $37575.18

Total 1^st month bitcoin investment in my portfolio stood at : $160

How much btc were bought:  0.00405


2^nd Month Investments

Week     Investment    Bitcoin aqquired       At price

Week 1:  $35                 0.00093               $37345.12
Week 2:  $45                 0.00117               $38347.06
Week 3:  $55                 0.00163               $33723.03
Week 4:  $65                 0.00185               $35040.84

I feel this is a pretty good long term investment plan and I am getting an idea for my future, this long term investment habit is a pretty good habit, it doesn't give us returns in short term, but in the long run, it will definitely be a good future.

I agree with you but the problem has always been some of the investors today don't understand that Bitcoin investment usually is for the long term and doing DCA regardless of where the price also does pay off in the long run. I believe this small example has also shone some light on why DCA is one of the best ways to invest in Bitcoin for the long term.

[aysg76]

Interesting story, according to you, the purpose of this investment is long term, however, I'm wondering how you considered Bitcoin as your best investment? Don't get me wrong, but, the amounts being invested are quite small, considering Bitcoin's value. I believe that sometimes, investing in some other reputable altcoin, such as Ethereum, Cardano, Binance and many more, is deemed more profitable than purchasing Bitcoin.

Although @JJG already answered your questions and same would have been my said by me that for me bitcoin is the best in every perspective like prices, security, payment and guaranteed future growth whereas those coins you are taking about don't have a firm future ahead if there is any technical upgradation lag.Consider the ETH the gas is too high even after the London Hard Fork and so many coins have been burned till now but still there are lot of issues and compared to bitcoin memepool is sometimes empty and you can make transaction with low fees also.But for me there are some other reasons also and bitcoin is the only fisible option to me.

As @JJG said if you are planning to hold for long term like in my case then it's not an issue and you could easily put whatever amount you are willing to do so.The DCA have helped to accumulate more coins and as you are saying the investment is less then have a look and you will find till now i have put on more than $600 and still going on with the same and considering the prices owning a fraction of bitcoin is also worth it not full btc only.The prices have came far away and you could check price charts for it and even if it goes x5,x10, then imagine the retuns.

So for me I only prefer BTC

[OrangeFlavor]

First of all, this thread is about bitcoin and not about various shitcoins, and surely if you are going to consider any investment you need to consider both upside and downside potential, and if you are investing blindly with a kind of DCA strategy then you are betting that in the long term the price is going to be higher than over the period that you had been buying into the coin.  Accounting for the fundamentals of those various shitcoins that you list need to employ some different calculations in terms of figuring out the various downside risks that each of them present.. including that each of those smoke and mirror shitcoin projects have way greater chances of going to zero than bitcoin and each of them is dependent on bitcoin's performance to have any value at all, even if they might have greater short term pumpamentals as compared iwth bitcoin, but we are not talking about short term here either... especially when talking about DCA, and even OP has mentioned that he has at least several years that he is considering keeping on injecting value into bitcoin.

In regards to the amount invested, of course OP had listed out his own personal budget, including how much that he believes that he has available to spare to put into bitcoin.  Historically relatively small amounts have paid off quite well, but surely we cannot expect future performance to necessarily be even close to as high as historical performance has been.

I think that in the end, people do what they can, and they should enter into bitcoin with at least a 4 year investment horizon and if they can consider their investment to be more than 4 years and maybe more than 10 years, then surely over that time they might improve their cashflow and be able to invest more into bitcoin if they are able to improve their cashflow or cut their expenses more.  There might even be some times in which windfall amounts of money might come available that can be injected into the BTC investment to add to the stash.. and surely if any of us is investing in the long term, then if we are continuing to invest into bitcoin along the way, we can assess our value and how long that we are ready, willing and able to let the investment to continue to ride.. Of course, if there develop desires to cash out some or all of the investment, then there would be considerations about whether that value is going to be used for other investments or for consumption.. and if the person is giving up the idea of investments or just considering that the investment has run its full course.

Fully agreed. In my assessment, Bitcoin has the best Risk vs. Reward compared to the rest in the top 100 Cryptos. The majority of cryptos react to Bitcoin's shockwaves.
People shouldn't necessarily settle on alt-coins simply because their investment budget is small. They should learn to work with what they've built up and invest in the right network while building more active income. Many are investing in alt-coins because they want 100x but they don't realize that BTC can still 100x and there's dramatically less risk involved.

[kojektea]

Millionaires usually have businesses whose finances come from non-crypto. Yes, not everyone can accept the existence of crypto directly. We have to slow down to introduce it. Because crypto currency is not to antagonize fiat. It makes finance more advanced in the future.

[noormcs5]

Interesting story, according to you, the purpose of this investment is long term, however, I'm wondering how you considered Bitcoin as your best investment? Don't get me wrong, but, the amounts being invested are quite small, considering Bitcoin's value. I believe that sometimes, investing in some other reputable altcoin, such as Ethereum, Cardano, Binance and many more, is deemed more profitable than purchasing Bitcoin.

I am sure that if he can invest in Bitcoin continuously with that kind of method, he will acquire many.
Let's see how he always invests every week for months.
He is always trying to add around 10$ in every week start and he continues it every month.
If he can do it continuously, he will accumulate more Bitcoin.
And well, for here, with that amount, I personally like how he chose only Bitcoin. I know that he said he wanted to invest in it for a long time. So, his purpose may be for long-term investment.

Dollar cost averaging is the best way to accumulate more bitcoins and keep them for long term.  I am also buying bitcoins on every month saving and keep them locked in my wallet.

[ropyu1978]

if we plant rice it is certain that the weeds will grow on their own, so are we in investing for sure, the risk will come to us, so never be afraid of risk if we invest, never look back, keep looking forward to get the benefits, if we invest in bitcoin there are definitely ups and downs, but if you want to invest in the long term, don't be afraid you will get profits, keep being patient, be strong, don't believe in negative posts,

[Dhoe]

if long term investment is your goal, I think the price drop in the last three months is not a big deal, it all depends on how you invest in bitcoin, and the extent to which you invest in bitcoin. rest assured bitcoin is the best investment for now, and for the future..

[dupee419]

Your plan is actually doing great, the first 3 months are actually critical when you're about to make a commitment, once you get used to this habit, you'll find other ways to be happy, good food and a gaming setup would be sick, but it would definitely be better if you gain a huge profit after years of hodling and investing or trading, it's definitely a worthy plan as soon as you realize that you've been holding for quite a long time, I also reas your data on your first three months, goodluck!

[S4VV4S]

I have been here for a very long time, not 1 or 2 months but it has reached the annual term, so for the time being the bitcoin price which is still not stable, I am already used to it, so in this case we do not become a very risky problem, because we very confident that the price of bitcoin will return to stable as it was a few years ago

[JayJuanGee]

You could've made some more with your money if you bought more when the prices were much lower, I am pretty sure that you would get more value out of it but I don't plan to poop your parade, it's not like I can do what you just did you know. Congratulations on making a lot of profit in your three month journey, hopefully you will get more profit.

Any person can ONLY do so much with his/her personal cashflow.  There are a lot of reasons that a person might have a tight cashflow and may well not have access to credit, either.  So making any kind of lump sum investment, as you suggest Obito, is really not a feasible option without going into some kind of possible gambling mode.

Let's say, for example, a guy has a cashflow of about $1k per month, and s/he has various expenses such as food, lodging, transportation, entertainment/recreation and other matters that cost him/her $900 per month.  So, s/he ONLY has $100 per month that s/he can invest, and I would not necessarily even recommend investing all of that in BTC.. maybe invest half or less in BTC and keep money for an emergency fund.  Once a person has an emergency fund that is sufficiently built up, then there is also more freedom to increase investments.

So, of course, any person investing into bitcoin with a 4-10 year time horizon or longer can work on increasing his/her cashflow and decreasing his/her expenses.. and even building some credit in order to be able to attempt to strategically employ debt to his/her advantage too, and each person has to consider his/her circumstances in terms of what might be feasible to potentially increase his/her investment into bitcoin, and even though I share your favorable view of lumpsum investing, not everyone is in a position to employ such a tactic - at least not at the time that they first hear about bitcoin or that they first start investing into bitcoin and/or attempting to get their finances and psychology in order in order to place some priority in building their BTC stash... which surely may well be a slow journey in the beginning... wealth building can take a very long time to accomplish, even for individuals who are very smart about their finances and psychology - especially if they are coming from a place in which they have very low level of wealth/networth that they are attempting to make better.

By the way, you may read my above description as being a young person as the newbie investor, and sure that young person status would give more abilities and brightness in terms of having a favorable timeline (so long as they do not screw matters up), but the circumstances that I describe could even be those of an older person or someone who may have not ever really been successful in building networth - including potentially putting his/her finances/psychology in very bad circumstances and figuring out ways to improve his/her finances from the negative situation in which s/he finds him/herself when first coming to bitcoin in terms of a possible investment.

Millionaires usually have businesses whose finances come from non-crypto. Yes, not everyone can accept the existence of crypto directly. We have to slow down to introduce it. Because crypto currency is not to antagonize fiat. It makes finance more advanced in the future.

Fuck crypto.

We are talking about bitcoin in this thread.  If you actually are talking about bitcoin, then start using the word "bitcoin" otherwise you are either off topic or spewing out pure meaningless gibberish by referring to such an amorphous concept such as "crypto"  whatever the fuck that is?

Interesting story, according to you, the purpose of this investment is long term, however, I'm wondering how you considered Bitcoin as your best investment? Don't get me wrong, but, the amounts being invested are quite small, considering Bitcoin's value. I believe that sometimes, investing in some other reputable altcoin, such as Ethereum, Cardano, Binance and many more, is deemed more profitable than purchasing Bitcoin.

I am sure that if he can invest in Bitcoin continuously with that kind of method, he will acquire many.
Let's see how he always invests every week for months.
He is always trying to add around 10$ in every week start and he continues it every month.
If he can do it continuously, he will accumulate more Bitcoin.
And well, for here, with that amount, I personally like how he chose only Bitcoin. I know that he said he wanted to invest in it for a long time. So, his purpose may be for long-term investment.

Dollar cost averaging is the best way to accumulate more bitcoins and keep them for long term.  I am also buying bitcoins on every month saving and keep them locked in my wallet.

I know that guys should do what they want, but I personally recommend buying on a weekly basis - unless your overall monthly amount is so small that you need to lump together your whole month's budget for once per month.

I understand that there are some folks who are only able to sort their cashflow once a month or they get paid ONLY once per month, so i do understand that there could be considerations of investing all of the allocated amount when it comes in rather than spreading it out for the whole subsequent month, so sure, even though I frequently proclaim a preference for weekly investing into BTC rather than monthly, I understand that the circumstances of some individuals might cause monthly to be more practical/prudent for their own cashflow (and/or psychological) situation.

Your plan is actually doing great, the first 3 months are actually critical when you're about to make a commitment, once you get used to this habit, you'll find other ways to be happy, good food and a gaming setup would be sick, but it would definitely be better if you gain a huge profit after years of hodling and investing or trading, it's definitely a worthy plan as soon as you realize that you've been holding for quite a long time, I also reas your data on your first three months, goodluck!

I don't really disagree with what you are saying dupee419, but investing in the long term can be a very grueling process, especially if we are looking at the small amounts that OP has been investing.  Surely, there could be temptations along the whole way in regards to building the BTC portfolio, seeing it rise in value and then considering using it to buy some consumption good or to divert it into some inferior investment.

I personally believe that if someone has a fairly aggressive BTC investment strategy, then surely s/he may well be in a better position to relax after a few years (maybe after 4 years), but if someone is investing relatively small amounts, such as OP, then there may well be a lot of temptations along the way including that the amount of value may take a few cycles before it really becomes considerable amounts of wealth... even though again, circumstances may change within the first 4 years of investing to allow more aggressive ongoing investments or even ways to manage the BTC investment in a way that allows for improvements in overall standard of living without necessarily cashing out any meaningful amounts of BTC and keeping up the ongoing investments into BTC (learning how to employ reasonable and prudent BTC portfolio /investment management strategies along the way.. and employing such learnings into such ongoing BTC investment strategies).

I have been here for a very long time, not 1 or 2 months but it has reached the annual term, so for the time being the bitcoin price which is still not stable, I am already used to it, so in this case we do not become a very risky problem, because we very confident that the price of bitcoin will return to stable as it was a few years ago

The idea of bitcoin prices being stable is a fantasy.

One of the almost inevitable guarantees of bitcoin in the coming years is that it is going to continue to be volatile for a quite a long time into the future.  There is a war going on, so you cannot expect stability in the midst of a war.

Of course, as bitcoin price (and market cap) likely continue to go up, it becomes more and more difficult to move its prices, but if you are expecting BTC prices to become "stable" at any time in the short to medium term (even less than 10 years) you are living in a fantasy - even if the percentage of BTC price moves have likely been becoming less and less with the ongoing increases in its market cap over the last 11 year or so (at least since 2011-ish) since bitcoin first started to have some price finding that has grown and grown and become more sophisticated (also referred to as increased financialization) with the passage of time.

[BobK71]

I welcome your strategy first. It is really incomparable. In my opinion, you will benefit from various aspects. First of all, you have reduced your eating form junk food. Your financial situation has improved after that invest in cryptocurrency in your future work plan. I think you are ahead from all sides. Another aspect is that you have engaged yourself here as a real holder. It's really awesome. I corroborate your journey and wish you success.

[tazmantasik]

This is very interesting to me . If everyone could reduce the bad things in themselves and start thinking about saving for the long term this would really help their future. Especially maybe someone who likes to smoke or drink, if it can be reduced slowly and even don't consume it anymore.. this will actually be a useful savings for retirement later.

[mr500]

Honestly I have said last three months not saficieant invest to crypto so my profit down.I regulate a sophisticate chanel but there are some issues change the pattern of my plan . But I am happy now because everything in my control and also optimistic that last three months lose will recover in the next month .

[JayJuanGee]

Honestly I have said last three months not saficieant invest to crypto so my profit down.I regulate a sophisticate chanel but there are some issues change the pattern of my plan . But I am happy now because everything in my control and also optimistic that last three months lose will recover in the next month .

Huh?

you are talking about bitcoin or something else?

To the extent that you are talking about bitcoin, there are no guarantees in the short term, especially if you are talking about few month increments, like you seem to be doing.

[Imran232]

This thread is really impressive and inspiring too. First of all this threads for those who continuesly say that we don't have soo much money to invest in bitcoin. Bitcoin price is huge we can't able to buy bitcoin and its really hard for me. I am from poor family, i do daily lowest amount pay job, or i got lowest monthly salary. Look this thread prove that all are is excuse nothings else. If you can't afford car but you can afford bike that why you buy bike. And those person who can't afford bike they buy bicycle and those bicycle is not enough they are going with public transport. Then investment is quite same just invest atleast 3-5% from your earning. Then after a long time just see how much you made.

Hope those excuse giver will learn something from this.

Congratulations and thanks  for this amazing post.

[watergold]

Interesting story, according to you, the purpose of this investment is long term, however, I'm wondering how you considered Bitcoin as your best investment? Don't get me wrong, but, the amounts being invested are quite small, considering Bitcoin's value. I believe that sometimes, investing in some other reputable altcoin, such as Ethereum, Cardano, Binance and many more, is deemed more profitable than purchasing Bitcoin.

I am sure that if he can invest in Bitcoin continuously with that kind of method, he will acquire many.
Let's see how he always invests every week for months.
He is always trying to add around 10$ in every week start and he continues it every month.
If he can do it continuously, he will accumulate more Bitcoin.
And well, for here, with that amount, I personally like how he chose only Bitcoin. I know that he said he wanted to invest in it for a long time. So, his purpose may be for long-term investment.

indeed it would be very good to do this and from an investment and profit perspective it would be huge, but not everyone can do that and maybe only a handful of people are able to do it.
not without reason, because indeed this is a long-term investment project and if you want to do a strategy like this at least you need a lot of money and the money must be unused for daily needs.
apart from that, everyone has a different perspective, especially in investing, what the OP does is that he only focuses on bitcoin and maybe I, you or someone else will do different things because if you see this, I personally also want to do the same thing. same but finance doesn't allow that and indeed I prefer to invest in bitcoin and some altcoins.

[v3liana]

What a great post, a genuine thank you for writing this down. Sounds like you’ve done well, and righfully so if you can hold out this long. It is a great thing that Bitcoin will teach many people how to both successfully invest long-term and trade short-term before even turning to typical traditional assets like stocks.

[Helen-cty]

This is a very wise choice. This is often what we lack. It is wiser than any other kind of investment to invest the wealth that can be saved in life into Bitcoin to obtain more wealth, because this kind of investment is not Affect your quality of life, and will not be panic and too much psychological pressure!