@aysg76
So now it is almost going to be 6 months after your initial post of 3 months. How has it been for you since then? Your last edit was on August 11 so I guess you will be very happy over the past time to get more BTC at prices near to or much lower than your initial.
I envy you in many ways,,, for your situation to be able to do this but more for your spirit and freshness to this scene. I wish all the best!
Actually my last post for my DCA for the last month was made on 18
th Sep as it was made under a separate post in this same thread.I think you have ignored that post so you could probably have a look at it.Yes i was happy to accumulate more in the dips and for me dips are opportunity to stack more not a sign of panic sell because don't want to repeat same mistakes again.
Hopefully you can continue to add to OP in order that we can see all of the data in one place.
Of course, you do not necessarily need to show all of your investments if you have some preference for OPsec, but the extent that you want to maintain some aspect of your investment as a kind of real world learning tool, then it would be helpful to either put it all in one place or to have a reference to the places that it is located so that an overall and ongoing picture can be appreciated.
Strange isn't it? I know online there's been a steady (slow but steady) growth of gold buyers and communities who discuss how to get it, how to safely store, sell, trade, etc.
And no one there talks about how old the gold market's been (or silver, or other metals), how expensive it seems, how difficult it is to obtain (while guaranteeing authenticity), how it's already done 10000x or whatever. All the arguments people use as excuses not to get into Bitcoin, they don't seem to consider when buying gold.
And so they miss out on the next 5 years, just as I did when I missed out first hearing it in 2013 (my reasons were very different then, I simply wasn't investing or even putting time into anything digital after a horrendous experience years prior).
The gold buyer's are also substantially declining if we consider the market and make past comparison due to number of factors like diminishing returns over all these years as all other assests outperformed it this year as it has -7% return this year.People are now preferring some other options which might be risky like bitcoin but not all opt for bitcoin but some other areas of investment also.
The gold has build a community and from the past delusional world people have a faith in gold like the prices will always rise and it is termed as stable source of income for them.Second the gold is recognised as status symbol in many countries where women wear fancy jewellery in different occasions.They will not hesitate to buy it whatever the prices are and will try to store them.You are right they won't care how it is mined or how will it perform in future but for bitcoin they will always have some kind of weird excuses like it's risky,scam or bubble, don't have money to buy it.
For those who put on some excuses like it's expensive need to think it's slightly above than gold and if you make comparisons gold is not going to give them even profits in long run.The wars and disaster could lead to price fluctuations in gold but bitcoin is free from them.The boosting factor is limited supply of 21 million.
But people will have excuses and bitcoin community is fast growing with more and more realising that it's an exit policy from fiat and centralised zoo's that we all are trapped in from long time.
It may be helpful to look at a chart of the gold prices in the past 50 years in order to get some kind of idea bout what is going on in regards to performance that would thereby affect perceptions of possible future performance.
https://goldprice.org/spot-gold.htmlThe fact of the matter seems to be that in the past 10 years, gold is barely keeping pace with inflation.. so of course there were price spikes in the late 70s, there was a price spike from about 2002 to 2011 and then there was a recent price spike from about 2018 to early 2021.
In the end, gold seems to be both manipulated as fuck and also diluted based on its having outrageous quantities of paper gold that dwarf the size of its actual backed supply. One of the advantages that bitcoin has is its ability to be easily and quickly taken possession of - including being verifiable through such process.
Of course some of the same manipulation tactics are going to be attempted with bitcoin, but a BIG ASS question remains whether such manipulation can as easily be successful since bitcoin is not physical and can be verified and taken possession of.... so in some senses, individuals can tell the manipulative custodians to go take a flying hike.. and in the mean time the actual holding of bitcoin will be more valuable through individual holdings or through entities who verify that they are not diluting the supply by making extra copies on their ledgers.
Another aspect of bitcoin remains its early stages of adoption that surely contributes to its ongoing price appreciation through such early adoption process, and of course, early adoption phase does cause some aspects of bitcoin's price appreciation to be artificial, so it could take 20 to 50 years or more for the masses to really get into decent levels of BTC adoption levels, and even if that might cause BTC to be an unfair comparison as compared with gold or with other assets, it still justifies getting in early rather than either waiting around and/or complaining that bitcoin's outrageously current status of considerable price appreciation is not fair because it is still in its earlier stages of adoption. Seems better to jump on board rather than complaining about it... at least from my perspective, I doubt than bitcoin or bitcoin holders are going to feel sorry for those who failed/refuse to jump on board sooner rather than later... and if governments try to step in to redistribute, there may also be some challenges in that too, so in many senses, it is in each person's interest to act to attempt to preserve his/her own stake and to get a stake rather than waiting for anyone to help them or to attempt to make the distribution of bitcoin more fair.
LOL.. this thread has an eerie resemblance to another thread, which was posted last year:
https://bitcointalk.org/index.php?topic=5298939.0That one dealt with an user from Turkey giving up on his smoking habit, and instead investing in Bitcoin. But unfortunately, he stopped posting in that thread after two months, and I assume that he relapsed on his habit. Now I don't want to compare junk food with smoking, but in both cases the user benefitted in the end from better health and more disposable funds in hand.
There might be some challenges in keeping on reporting - but surely whether the person stopped buying BTC might be another question too.. . Sometimes if you are a newbie to an investment, you can get considerably thrown off about what to do if the BTC price more than triples from the period in which such a plan was started.. and then maybe even giving up on the plan after the BTC price had doubled.
I see some shitcoin posting too in regards to the OP of that thread, so maybe he got distracted into shitcoins... which surely could cause anyone to lose focus if they get lured into that quagmire of difficult to decipher pump and dump baloney.
How long will you manage to continue this investment strategy mate? before the pandemic attack i almost do the same thing as yours, all of my Signature payments are indeed stays in bitcoin weekly.
I accumulate more than what you are having now but suddenly pandemic comes and all i need to do is withdraw all of the amount and put in real life investment in which i use to survive the lockdown and losing of my Job, now that i am recovering i start holding again and hope this time will continue till the next years of my bitcoin partaking .
One of the errors that people make is to overinvest, because you never want to withdraw from your bitcoin that is at a time other than your own choosing.
Accordingly, you have to maintain other funds that are to be used for emergency purposes.. sure, easier said than done, but there are ways to build yourself up to such a practice, which may well be to ONLY invest into bitcoin what you are not going to need for 4 years or longer and probably planning on NOT withdrawing from it for 10 years or more would be an even better plan in terms of building and managing your bitcoin stash.
Even if you are starting over, btc78, you are still likely going to be in a better place than a lot of people who have not started to do anything in regards to building a bitcoin stash.
How long will you manage to continue this investment strategy mate? before the pandemic attack i almost do the same thing as yours, all of my Signature payments are indeed stays in bitcoin weekly.
Not fixed time period for my investment strategy but will keep on doing till the time I managed to save funds to accumulate more and more bitcoin.This could be 6 month's or 3-5 years also.But will try to keep this as long as possible because of profits that will be served to my total networth.
Of course, one of the dangers of NOT having any solid goals is that you will get tempted into changing your BTC investing plan too soon and start to withdraw too soon or try to play around with too much of the value that is likely to appreciate within the cycle.
Largely what you are saying, aysg76 is that you plan to cash out upon the rise of BTC prices in this cycle,.. and you are going to see how the cycle plays out and then you are going to cash out some or all of your BTC in order to try to buy back lower.. blah blah blah..
yeah.. you did not say that, but your creation of a 6month to 3-5 year timeline shows a lack of clear longer term goals..
Better than nothing, but does seem to have some problematic aspects in terms of its lack of specificity..
I accumulate more than what you are having now but suddenly pandemic comes and all i need to do is withdraw all of the amount and put in real life investment in which i use to survive the lockdown and losing of my Job, now that i am recovering i start holding again and hope this time will continue till the next years of my bitcoin partaking .
This pandemic was a time when we all were locked inside and many face similar situations like you when the personal savings of many got consumed and bitcoin investments are also saving to help us and whenever we are in urgent need we can take out the funds and use them.Like we cannot hold btc for long knowing that we could not survive financial damage in real life because that's what we make investment for to gain profits as well use them when necessary aside from other sources of income.Not to worry you can still stack your btc as there is time and keep up DCA and you will again reach your goal.
I am not going to poo poo the potential level of personal financial issues that might have come from the pandemic situation, and some people are still adapting to such negative personal finances based on the extremes of that.
Actually my last post for my DCA for the last month was made on 18th Sep as it was made under a separate post in this same thread.I think you have ignored that post so you could probably have a look at it.Yes i was happy to accumulate more in the dips and for me dips are opportunity to stack more not a sign of panic sell because don't want to repeat same mistakes again.
I see it now,,, thank you. Every time I see this kind of thread it inspires me to think about myself (and also envy as I said in previous post). I never made a real calculation unfortunately,,, as the main site/wallet that I used to accumulate has closed down, but I might be inspired to open a thread to keep track of my monthly/bimonthly earnings too. Which is a different form of DCA I guess but in effect the same as buying every period. Good luck again, do not watch the markets and you will lose that panic.
Part of the establishing of a reasonable BTC budget is to make sure that you have your cashflow in order.
I personally like to attempt to plan out my cashflow for 2 years, and of course, my further out plan is more loose but the plan within 6 months is more specific and having to be more careful that it is specifically covered and not making any major mistakes. I have been in such practice for about 30 years, and I have used an Excel spreadsheet for that in about the past 20 years.
