My Past nine months bitcoin journey

[Ngewex Yuk]

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

Total 2^nd month bitcoin investment in my portfolio stood at :  : $200

How many btc were bought:  0.00558

3^rd Month Investments

Week     Investment    Bitcoin aqquired       At price

Week 1:  $45                 0.00132               $33855.33
Week 2:  $55                 0.0018                 $30456.06
Week 3:  $65                 0.00162               $40111.19
Week 4:  $75                 0.0018                 $41524.96

Total 3^rd month bitcoin investment in my portfolio stood at :  : $240

How many btc were bought:  0.00654

Total Bitcoins aqquired with $600 = 0.01617

I got bonus from my office this month for extra performance along with my paycheck so i decided to to go mile extra this time with bitcoin investment and invested another $100 from the same bonus to bitcoin investment and will make some bonus investments as I get them with my paycheck.

BONUS $100 INVESTMENT AT $43600 = BTC0.00229
 

I have doing this from past three months now and planning it to carry on for long time as i know that my returns will be high in long run and my wasting that money on my food items would have given me happiness and relaxation for few time but this investment at this time would be long lasting and give me pleasure and joy for lifetime. So I decided to compromise my that things for bitcoin investments as it will surely have more value in future when every other assest will be depreciated with inflation but my this investment will prove worthy at that time.

Speaking frankly I was happy at this dip as i was getting big share at small prices and they don't even matter for me because i was not into trading and my sole motive was to invest and hold for long time no matter what the prices are and will be.I have decided to follow this plan for atleast 6 months and will keep posting the updates on this thread. So i am constantly reducing my miscellaneous expenses and allocating that funds towards bitcoin and i will not panic with any price dumps and afford to loose that money(but it will not happen as i am optimistic) and will hold that coins until i need to use them.Till then my 6 months chart is on for investments  
EDIT: The thread has been updated with this month DCA investments and Bonus investments made by me and will keep this in same manner.

Looking at the current price of course you get a big profit, the highest price you bought was $41k and now the bitcoin price has reached $56k, but I recommend holding it because I believe that bitcoin will continue to skyrocket so you can get bigger profits.

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[JayJuanGee]

[edited out]

Looking at the current price of course you get a big profit, the highest price you bought was $41k and now the bitcoin price has reached $56k, but I recommend holding it because I believe that bitcoin will continue to skyrocket so you can get bigger profits.

If a person is investing in BTC in the long term, such as 4 years, or 10 years or more, there is really no need to get worked up about whether your BTC holdings happens to be in profits or not in the short term.  Of course, there can be some comfort to have some profits along the way, but there can also be some comforts of being able to continue to buy BTC and to accumulate more.

In other words, it can take years and years to get to a comfortable accumulation level, and for someone who might feel that they are are in the early stages of BTC accumulation, the feel good aspects of "being in profits" is likely to be more of a "paper tiger" concept rather than an actual dynamic that is likely to be acted upon.. a kind of double edged sword.

On the other hand, once a person feels that s/he has reached high and adequate levels of BTC accumulation, then at that point there might come some zen moments to sit back and appreciate the extent of the profits (whether they are going to be acted upon or not).... So one of the tough aspects of ongoing investing in BTC is that cashflow can take a real long time to come in and to allow for reaching decent amounts to be stashed into BTC... many of us older investors have felt such dynamics of having had largely reached target accumulation levels - and for sure the longer the time that your investment builds, the more comfortable the feelings about having had historically stacked to get there.

[BITCOIN4X]

If a person is investing in BTC in the long term, such as 4 years, or 10 years or more, there is really no need to get worked up about whether your BTC holdings happens to be in profits or not in the short term.  Of course, there can be some comfort to have some profits along the way, but there can also be some comforts of being able to continue to buy BTC and to accumulate more.

When target have been set in the long term then short term volatility may not have much effect on them. I've seen so many wallet that haven't sold their bitcoin holdings in 5-10 years and some of them are still active enough to collect more. I know that it is basically these people who will ultimately win in investing. There is so much investor confidence in bitcoin that they are willing to hold on to it long term and they will get a good return on this investment.

[chanler]

good experience, by investing bitcoin then you have chosen the right thing. Investing bitcoin and other cryptos in my opinion is a profitable investment as long as we can manage and utilize our assets properly, the results will also be satisfactory. a strategy in investing bitcoin is needed in order to get an increase in profit as stated above. so it all depends on someone to be able to manage their bitcoin assets well or not.

[amihada]

Now it has been proven that bitcoin investment in the long term can be profitable, if in 2018 yesterday I invested bitcoin then I would get a lot of profit, I will not repeat the same mistake I have invested in bitcoin in the last three months I will save bitcoin in the long term I make assets for the future.

[JayJuanGee]

Now it has been proven that bitcoin investment in the long term can be profitable, if in 2018 yesterday I invested bitcoin then I would get a lot of profit, I will not repeat the same mistake I have invested in bitcoin in the last three months I will save bitcoin in the long term I make assets for the future.

Past performance does not prove (nor guarantee) future performance.

[aysg76]

I appreciate the move that many of you are happy with me sharing this investment with you all and providing some kind of motivation to all not only newbies but the existing holders also that DCA could be boom to your profits if you hold them for long term and can cut your unnecessary expenses to divert them towards what will benefit you all.Yes i can order food online but what's the fun of it if i am regularly eating outside the money is not going to provide any return but can worsen my health conditions and then some diseases can cause healthcare expenses so better be fit and invest for future.

If a person is investing in BTC in the long term, such as 4 years, or 10 years or more, there is really no need to get worked up about whether your BTC holdings happens to be in profits or not in the short term.  Of course, there can be some comfort to have some profits along the way, but there can also be some comforts of being able to continue to buy BTC and to accumulate more.

When we set our short term goals with bitcoin price levels and it didn't reach our expected price levels than it could hurt our emotional sentiments and maybe we might not be willing to hold it further more.But if we have long term strategy short term fluctuations don't matter and you will be surprised to know i accumulated more in these dips opposite to those who Panic sell it.So you have to take risks with funds but long term is still better.Not saying the prices will be in millions but still after 5-6 years they will be more than double of current which is worth holding also.Instead of regretting later on be patient and enjoy your life afterwards.

[JayJuanGee]

I appreciate the move that many of you are happy with me sharing this investment with you all and providing some kind of motivation to all not only newbies but the existing holders also that DCA could be boom to your profits if you hold them for long term and can cut your unnecessary expenses to divert them towards what will benefit you all.Yes i can order food online but what's the fun of it if i am regularly eating outside the money is not going to provide any return but can worsen my health conditions and then some diseases can cause healthcare expenses so better be fit and invest for future.

If a person is investing in BTC in the long term, such as 4 years, or 10 years or more, there is really no need to get worked up about whether your BTC holdings happens to be in profits or not in the short term.  Of course, there can be some comfort to have some profits along the way, but there can also be some comforts of being able to continue to buy BTC and to accumulate more.

When we set our short term goals with bitcoin price levels and it didn't reach our expected price levels than it could hurt our emotional sentiments and maybe we might not be willing to hold it further more.But if we have long term strategy short term fluctuations don't matter and you will be surprised to know i accumulated more in these dips opposite to those who Panic sell it.So you have to take risks with funds but long term is still better.Not saying the prices will be in millions but still after 5-6 years they will be more than double of current which is worth holding also.Instead of regretting later on be patient and enjoy your life afterwards.

We are saying similar things, but I frequently suggest that BTC HODLers/accumulators do not set their expectations too high, whether short term or long term.  In other words, there are psychological benefits to setting pretty damned conservative expectations, so that it is becomes way more likely that in the end, BTC is likely to out perform your expectations .. even if in the short term, the BTC price could be going down, your BTC might be in the negative, but if you already expect that could happen, you just develop a strategy ahead of time to keep buying or to HODL through the difficult periods or some combination of strategies that seem reasonable, prudent and appropriate for your own circumstances (psychological and financial).

Part of the reason that it could take 4-10 years just to start to feel quite comfortable in your BTC investment remains that variations of the short-term can end up with the BTC price moving against you for a decently long period of time.. and then there also remains no guarantee that bitcoin will necessarily recover - even if the odds seem pretty damned good, it is never guaranteed, but in either event, you can stick with your BTC accumulation/HOLD strategy and even tweak your strategy from time to time to better suit what is happening with bitcoin and how you are reacting to it and if any of your information has changed about actual BTC fundamentals or your perception of such fundamentals has changed - which sometimes has required a bit of conviction and faith, too...  (and also sometimes you are going to make mistakes along the way too, and there are ways to attempt to recover from mistakes without necessarily doubling the risk or ending up compounding any mistake that you made  - which is sometimes another thing that people end up doing if they set their demands and expectations too high).

So I am not even saying that getting involved in bitcoin and building various strategies and following the various strategies while tweaking from time to time is going to end up being easy, but there are ways to attempt to tailor in ways that allows you to keep stacking sats whether it is cutting back your expenses in various ways, as you mentioned aysg76 or if there might be ways to improve your cashflow in various ways in order that you have more value that you are bringing in that you are going to be able to invest into bitcoin too.. without necessarily becoming too overextended either financially or psychologically.

[syedzakir]

Great brother. I am new on bitcoin currency. I really impress with your profitability. I think you are a professional trader of bitcoin. And your profit is really massive. I am trying t know how professional traders do trading. So that I also follow them to earn profit. I am learning technical analysis from YouTube videos to increase my knowledge about trading

[JayJuanGee]

Great brother. I am new on bitcoin currency. I really impress with your profitability. I think you are a professional trader of bitcoin. And your profit is really massive. I am trying t know how professional traders do trading. So that I also follow them to earn profit. I am learning technical analysis from YouTube videos to increase my knowledge about trading

The strategies described in this thread are not about trading, and if you had read through any of the substantive posts of this thread (including OP), you should have been able to appreciate that there is a described set of strategies that involve ongoingly buying BTC and accumulating BTC with the passage of time.. That strategy is sometimes described as dollar cost averaging (DCA), and of course, anyone who employs such DCA strategies will come up with variations of such strategy, and surely trading is a different kind of strategy that is not specifically being discussed in this thread.. even though there could be ways that trading could complement DCA  -- but that is not what is being discussed here.

In other words, DCA is amongst the most basic of BTC accumulation strategies that historically have been employed in advantageous ways, and trading is a more sophisticated, complicated and advanced strategy - that could end up screwing up the more solid advantages of DCA if various kinds of risks are added including playing around with your BTC stash to sell and try to buy back BTC cheaper.. which has usually proven to be something that has not worked out as well as those who have historically followed a more pure DCA BTC accumulation strategy.   There is a familiar expression that "time in the market is more important than timing the market," and DCA allows people to ongoingly put money into BTC as aggressively as they are able to do.. which can help for getting time-in the market.. especially that some people are not able to lump sum invest into bitcoin, so they can just invest what they can on a regular basis.. which is DCA investing.

[Cookdata]

If horses are true wishes, I'd love to attempt your strategies of investing the little money I have from my job. There should be no excuses for not getting Bitcoin, regardless of one's position or financial stability.
Now that bitcoin is preparing to embark on another bull run, I believe it is now or never to conduct another cost average.

[JayJuanGee]

If horses are true wishes, I'd love to attempt your strategies of investing the little money I have from my job. There should be no excuses for not getting Bitcoin, regardless of one's position or financial stability.
Now that bitcoin is preparing to embark on another bull run, I believe it is now or never to conduct another cost average.

That's not how DCA works.

[aysg76]

If horses are true wishes, I'd love to attempt your strategies of investing the little money I have from my job. There should be no excuses for not getting Bitcoin, regardless of one's position or financial stability.
Now that bitcoin is preparing to embark on another bull run, I believe it is now or never to conduct another cost average.

That's not how DCA works.

You could probably explain him in detail how Dollar cost averaging (DCA) investment strategy works that could help us to stack more sats at the same funds.I have been doing it from past few weeks and ignoring the prices and not seeing that whether it's time that btc is embarked or not and continue to invest my funds in it without any expectations.



Make bitcoin investment but have long term goals and i agree with @JJG on that point.

[Lordshiva]

I have never thought of buying Bitcoin with such a small amount. Thank you for giving a demonstration and inspiration.
I used to think that it would only make sense to invest a lot of money.
This way of using pocket money to buy Bitcoin is easier to hold for a long time. Because there is no financial pressure.

[JayJuanGee]

I have never thought of buying Bitcoin with such a small amount. Thank you for giving a demonstration and inspiration.
I used to think that it would only make sense to invest a lot of money.
This way of using pocket money to buy Bitcoin is easier to hold for a long time. Because there is no financial pressure.

Of course, once you realize that you can buy small amounts, then it is a matter of shopping around for ways that you might not get too much gouge from various fees.. whether it is buying $10 at a time or $100 at a time, I tend to recommend attempting to buy at least weekly, but sometimes if you are only able to save around $10 per week, then it might make sense to do monthly purchases of $40 per month..

Fees are definitely going to vary, and let's say that you want to acquire bitcoin from peer to peer transactions using cash, sometimes the otherside won't even transact unless you are able to come up with a certain value, whether that is $300, $1,000 or some other value that they believe is worth their while in transacting.... there are several exchanges that allow small transactions, but their fees are going to vary.. even though we know that there are some initiatives to really bring down fees through some of the lighting apps (including like the Strike app and some of Jack Mallers work) and maybe those kinds of competitive initiatives will translate to the fees that are charged in various kinds of onboarding into BTC possibilities, too.  Shop around, and share.

[BITCOIN4X]

I have never thought of buying Bitcoin with such a small amount. Thank you for giving a demonstration and inspiration.
I used to think that it would only make sense to invest a lot of money.
This way of using pocket money to buy Bitcoin is easier to hold for a long time. Because there is no financial pressure.

You can save 20%-50% of your monthly income to invest in bitcoin if you want because that method won't hurt you financially in my opinion. I have this habit since I joined this forum but unfortunately I only started in the last 1 year because I previously invested in gold. I don't want to beat myself up as to why I didn't do it in the first place, it's a difficult decision to explain when we look at the fact that bitcoin can go beyond what most people think is impossible. Now I enjoy it.

[JayJuanGee]

I have never thought of buying Bitcoin with such a small amount. Thank you for giving a demonstration and inspiration.
I used to think that it would only make sense to invest a lot of money.
This way of using pocket money to buy Bitcoin is easier to hold for a long time. Because there is no financial pressure.

You can save 20%-50% of your monthly income to invest in bitcoin if you want because that method won't hurt you financially in my opinion. I have this habit since I joined this forum but unfortunately I only started in the last 1 year because I previously invested in gold. I don't want to beat myself up as to why I didn't do it in the first place, it's a difficult decision to explain when we look at the fact that bitcoin can go beyond what most people think is impossible. Now I enjoy it.

You are not necessarily wrong BITCOIN4X in your stated level of aggressiveness in terms of the amount that you want to invest on a regular basis from your income.  Historically, I had always shot for investing at least a minimum of 10% from my income, and sometimes there is not enough cashflow to go very much higher than that  - but surely individual circumstances are going to vary in terms of what is feasible, reasonable and prudent.

It seems to be bad advice to suggest investing 20% to 50% without really appreciating the variance that is likely to exist including that there are likely needs to consider having an emergency cashflow.. and bitcoin can be very volatile, so I would not suggest using bitcoin as an emergency cashflow resource, so in the end each person should be assessing all of his circumstances in deciding how much they are able to invest on a regular and ongoing basis which would include assessing their cashflow, their other investments, their timeline, their view of bitcoin as compared with other investments (and surely there could be an assessment to ONLY invest in bitcoin), their risk tolerance, their time, skills and abilities to plan, strategize, learn along the way and to tweak their plans/portfolio from time to time which may include trading and reallocating or the use of various financial instruments, and of course, the more basic systems would not include trading or the use of financial instruments until making sure to get all of the individually tailored basics in place first.

By the way, when I was in my younger career and college years, I frequently felt that I was struggling even to put 10% of my cashflow aside.. yet there were periods of time that came later down the road that I had gotten to investment levels that were quite a bit higher, even approaching 40% at certain times. .and at the same time, there may well be some needs to increase cashflows and/or decrease expenses to be able to accomplish higher levels of regular investing which would not be for the faint of heart or for anyone who is into spontaneous consumption or inabilities to delay gratification. 

[BITCOIN4X]

~Snip

JayJuanGee, I know that percentage may not match the financial condition of others considering that each individual has different need. Usually I need $200-$250 to make ends meet me and my family for 1 month and that amount is 50% of my total monthly income. So if I invest in the range of at least 20% to max 50% every month then I probably don't have a big problem. But I will not do it to the maximum extent because maybe I still need a reserve of money if needed at any time. 30% is the most likely number for each current month and the remaining 20% ​​is for reserves.

[aysg76]

I have never thought of buying Bitcoin with such a small amount. Thank you for giving a demonstration and inspiration.
I used to think that it would only make sense to invest a lot of money.
This way of using pocket money to buy Bitcoin is easier to hold for a long time. Because there is no financial pressure.

There is not too much financial pressure as i am cutting my junk food budget and investing the same into bitcoin but sometimes you can say i go above those level and invest my extra funds into it which i might need later on but you have to bear some financial problems not a big level but still little bit if you want to secure your future ahead and that's how bitcoin investment works.
This month DCA investment will be updated in @OP shortly as i am busy somewhere so unable to do it but will surely do it soon

[JayJuanGee]

I have never thought of buying Bitcoin with such a small amount. Thank you for giving a demonstration and inspiration.
I used to think that it would only make sense to invest a lot of money.
This way of using pocket money to buy Bitcoin is easier to hold for a long time. Because there is no financial pressure.

There is not too much financial pressure as i am cutting my junk food budget and investing the same into bitcoin but sometimes you can say i go above those level and invest my extra funds into it which i might need later on but you have to bear some financial problems not a big level but still little bit if you want to secure your future ahead and that's how bitcoin investment works.
This month DCA investment will be updated in @OP shortly as i am busy somewhere so unable to do it but will surely do it soon

Largely I had been DCA investing about 5% to 30% (with a more common amount of around 10%) of my income into various investments for about 25 years before I discovered (and got into) bitcoin, and I frequently found temptations to dig into my investment or even temptations NOT to invest (and to consume instead), so of course, there can be dilemmas about whether to live well today or to delay gratification into the future. I have never had any investment have returns even close to the numbers that bitcoin has returned... so I can say that some of the considerations will change once your portfolio gets really high into profits and you overly exceed your investment goals.. so you will move from accumulation, to maintenance and then to liquidation.. so perhaps I am in a stage of maintenance and contemplating further practices of liquidation...