My Past nine months bitcoin journey

[wiss19]

That’s the same thing with me, I have a job that I am doing and I can’t quit my job to be trading cryptocurrency when I know that I have lots of responsibilities to handle, so quitting my job to be a trader was going to affect me. And moreover, quitting my job to be just a trader never seemed right to me, I needed to just have a second means of income.

So, what I did was just started investing in bitcoin for a long term, and it did work out for me. I do research and analysis to know where the market might be heading to, and then I would invest to hold for a long term. I kept doing this and it has worked for me. I didn’t quit my job, I continued and also kept investing bitcoin and now I have two stable sources of incomes that I can rely on.

[1713863451]

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[JayJuanGee]

That’s the same thing with me, I have a job that I am doing and I can’t quit my job to be trading cryptocurrency when I know that I have lots of responsibilities to handle, so quitting my job to be a trader was going to affect me. And moreover, quitting my job to be just a trader never seemed right to me, I needed to just have a second means of income.

So, what I did was just started investing in bitcoin for a long term, and it did work out for me. I do research and analysis to know where the market might be heading to, and then I would invest to hold for a long term. I kept doing this and it has worked for me. I didn’t quit my job, I continued and also kept investing bitcoin and now I have two stable sources of incomes that I can rely on.

Are you saying that you have been DCA buying into bitcoin for a decent amount of time and it has paid off for you?  If so, how long have you been DCA buying into bitcoin?  Depending on your cashflow and how much you are able to invest into bitcoin, frequently it will take several years to build up a decently sized stash, and even if you build up a decently sized stash, it may not be enough of a reason to stop DCA investing into bitcoin.. so it depends on your circumstances in terms of how much you had already put into bitcoin and whether it is a prudent idea to keep investing into bitcoin.

Of course, this thread is not so much about either trading or crypto currencies.. except maybe that some people will consider other tactics beyond merely buying bitcoin in terms of their own ways to accumulate bitcoin or even attempt to maintain their position in bitcoin (or their overall investment portfolio above and beyond just the bitcoin portion).

[Slow death]

That’s the same thing with me, I have a job that I am doing and I can’t quit my job to be trading cryptocurrency when I know that I have lots of responsibilities to handle, so quitting my job to be a trader was going to affect me. And moreover, quitting my job to be just a trader never seemed right to me, I needed to just have a second means of income.

So, what I did was just started investing in bitcoin for a long term, and it did work out for me. I do research and analysis to know where the market might be heading to, and then I would invest to hold for a long term. I kept doing this and it has worked for me. I didn’t quit my job, I continued and also kept investing bitcoin and now I have two stable sources of incomes that I can rely on.

Long term is a strategy that requires patience and person needs to have a goal, I don't know how you are having stable source of income with long term investment. you are buying and then you hold temporarily until the price has reached a certain level then you sell and wait to fall and then buy and rise to sell to a certain level. Is what do you do?

[JayJuanGee]

That’s the same thing with me, I have a job that I am doing and I can’t quit my job to be trading cryptocurrency when I know that I have lots of responsibilities to handle, so quitting my job to be a trader was going to affect me. And moreover, quitting my job to be just a trader never seemed right to me, I needed to just have a second means of income.

So, what I did was just started investing in bitcoin for a long term, and it did work out for me. I do research and analysis to know where the market might be heading to, and then I would invest to hold for a long term. I kept doing this and it has worked for me. I didn’t quit my job, I continued and also kept investing bitcoin and now I have two stable sources of incomes that I can rely on.

Long term is a strategy that requires patience and person needs to have a goal, I don't know how you are having stable source of income with long term investment. you are buying and then you hold temporarily until the price has reached a certain level then you sell and wait to fall and then buy and rise to sell to a certain level. Is what do you do?

You seem to misunderstand and mischaracterize how OP says that he is accumulating bitcoin.

Op says that he is just buying regularly at any price based on whatever his savings might be, and he said that he was overall trying to increase the amount that he is able to buy to the extent that he is able with the passage of time and to either cut his expenses or to increase his cashflow.

There is no selling involved, and even if OP did not say his exact target, it seems that there is a kind of goal to just continue accumulate for at least several years and to see how much his accumulated BTC may go up in value with time.

I do agree with you that it would probably be preferable to establish some kinds of more specific goals, even if it might take several years to accomplish, but I do not agree that selling bitcoin should necessarily be a goal.. at least perhaps not until after having had reached high level accumulation goal (perhaps over accumulation or exceeding targets).   

For sure, everyone is likely to establish these kinds of goals separately and differently, but it does seem to me to be a very first important goal to just get started and to act like OP has seemed to have done, and then just buy regularly and perhaps attempt to be aggressive to the extent reasonable .. and at the same time, perhaps to reassess if the goals need to be tweaked from time to time, or maybe even considering if there might be ways to increase cashflow in order to have more to invest in order to attempt to achieve higher levels of value appreciation to the extent that is possible.. .

From my own personal experiences, I have found that it may well take way more than 10 years to really start to build a sizable investment portfolio, even if you have a decent amount of extra cashflow that is invested, and of course, OPs amounts are not really large, so it may well take a decent amount of time to really start feeling that the size of the BTC investment is getting to a decently large size (and hopefully without being tempted into selling too much too soon or taking other rash approaches that could screw up maintaining and carrying out decent ongoing and persistent BTC accumulation).

[aysg76]

~snip~

You are right I am not into selling at this time and my only goal is to accumulate bitcoin without any target that i want to have 1 btc or more because my savings are being put into DCA investment strategy and maybe they can go up or low with time but my habit of putting funds into bitcoin is not gonna change.

Speaking frankly i don't want to build a huge bitcoin portfolio due to the prices at this time.With $48k per bitcoin at this time i would have to spend that much to have one full bitcoin and building huge portfolio for me is difficult depending on my salary, savings and future bitcoin prices which are going to be more high.

But the main point of concern is that it's not necessary to be a whale or big fish in bitcoin market but in coming time you should not be categorised under no coiner as that will be painful.So i would like to keep this DCA strategy going with whatever amount I am willing to do and maybe end up with big portfolio in end if we speak of 5-10 years.Anytime is good but don't wait too much for it as very less are to mined now.

[leea-1334]

@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!

[A891756]

I strongly believe is investing money in bitcoin is worthful. So I have been watching bitcoin price fluctuations for last three months. So I'm waiting to invest money safely. In August it touched around $39000 and on September 4 it touched around $49899 and yesterday we saw it touched again $49899. Two days ago it showed a uptrend mode . So wishing to reach $70000 soon.

[JayJuanGee]

~snip~

You are right I am not into selling at this time and my only goal is to accumulate bitcoin without any target that i want to have 1 btc or more because my savings are being put into DCA investment strategy and maybe they can go up or low with time but my habit of putting funds into bitcoin is not gonna change.

Speaking frankly i don't want to build a huge bitcoin portfolio due to the prices at this time.With $48k per bitcoin at this time i would have to spend that much to have one full bitcoin and building huge portfolio for me is difficult depending on my salary, savings and future bitcoin prices which are going to be more high.

We are not really going to know if these are currently high prices or low prices, and sure many of us suspect that we are on the verge of another upswing in BTC prices, so hopefully you are not really holding back on any of your BTC buying at this time.. and like a poster below stated that you have not updated your buys since August, which to me does not seem to be a good idea if you stop.. but it may well be an o.k. idea if you just maintain some kind of steady buying amount, and sure saving some extra in case the price dips, but not really stopping on the regular DCA buys.

But the main point of concern is that it's not necessary to be a whale or big fish in bitcoin market but in coming time you should not be categorised under no coiner as that will be painful.

If you keep buying, you may well become considered as a whale or a big fish down the road by merely accumulating a bitcoin or two.. a lot of it depends upon your timeline and persistency.. so of course, an even worse category would be a no coiner, so there are folks who had established decent stashes of coin and then they sell all or part of their coin because they want to buy back lower, which really just seems nutso to me, even though quite a people go down that path and end up with way fewer coins because they thought that they could time the market.

Let's say for example, you do not really have a lot of cashflow, but you are able to stack between $20 and $200 per week for the next 10 years, and sure maybe you ONLY stack one or two coins, but you still end up being in a very good position compared with someone who is trying to time the market and ends up making mistakes.

In the end, of course, you gotta do you, and so hopefully you figure out some methods that work for you and allow you to continue to be fairly persistent, even  if you might have part of your cash that you buy regularly at any BTC price and another portion of cash that you save in case the BTC price dips.. without being too greedy in terms of how much of a dip that you are waiting for because sometimes the dip that you are waiting for never ends up happening.. we have seen that a lot of times in bitcoin... think about $500 bitcoin in 2016 and people were waiting for lower prices that did not come, and $1k bitcoin in early 2017 and people were waiting for lower prices that did not come and $3k bitcoin in august /September 2017 and people waiting for lower BTC prices that did not come.... and $10k prices in September 2020 and people waiting for lower prices that did not come...  and seems like we had lower $30k bTC prices just recently and people waiting for lower BTC prices of either low $20ks or even sub $20k and those prices did not come.  Those kinds of situation repeat themselves over and over and over, and we do not really cannot know if todays prices are going to never be possible again, so we have to stack what we can to attempt to prepare for UP just in case further down does not happen... which we never know but we could be in one of those kinds of price situations again, even if prices are currently in the upper $40ks.

So i would like to keep this DCA strategy going with whatever amount I am willing to do and maybe end up with big portfolio in end if we speak of 5-10 years.Anytime is good but don't wait too much for it as very less are to mined now.

I think that there are still a lot of people who have failed/refused to get into bitcoin, and they are just going to be coming into bitcoin in 5- 10 years from now, and you are going to be looking like a genius in 5-10 years, especially if you keep on stacking whatever level of sats that you are comfortably able to do.. whether that is $20 per week or $200 per week or maybe once in a while you might get some extra cashflow.. and then you might be able to do more.. but even if you are not able to do more, it is good to make sure that you do not overly do it so that you do not have your regular expenses covered.

[buwaytress]

I think that there are still a lot of people who have failed/refused to get into bitcoin, and they are just going to be coming into bitcoin in 5- 10 years from now, and you are going to be looking like a genius in 5-10 years, especially if you keep on stacking whatever level of sats that you are comfortably able to do.. whether that is $20 per week or $200 per week or maybe once in a while you might get some extra cashflow.. and then you might be able to do more.. but even if you are not able to do more, it is good to make sure that you do not overly do it so that you do not have your regular expenses covered.

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).

[JayJuanGee]

I think that there are still a lot of people who have failed/refused to get into bitcoin, and they are just going to be coming into bitcoin in 5- 10 years from now, and you are going to be looking like a genius in 5-10 years, especially if you keep on stacking whatever level of sats that you are comfortably able to do.. whether that is $20 per week or $200 per week or maybe once in a while you might get some extra cashflow.. and then you might be able to do more.. but even if you are not able to do more, it is good to make sure that you do not overly do it so that you do not have your regular expenses covered.

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).

In 2013, when I first got into bitcoin, I was looking for a kind of dollar hedge investment, like gold, but I did not like some of the fees and other inconveniences of gold, like you mentioned... so when I came across bitcoin, it seemed to resonate with me right away, and I started a plan right away which involved investing for 6 months from late 2013 until about May 2014, and then to reassess my situation at that time.. which I did and I extended another 6 months, and by the time that I was investing into bitcoin for a year, I had pretty much established my position, and then just tweaked my strategy from time to time.

I do believe that there are going to be some people who look into bitcoin and it is going to resonate with them either right away or soon after looking into it (and maybe making a few mistakes, too?)... There are some people who consider bitcoin to be a good idea, but they are lacking in motivation to set up an account and to begin to take some action right away.. rather than waiting and/or not doing anything.

To me, it seem that if someone takes action right away and even just starts investing into bitcoin slowly, then they are going to start to get more comfortable with it.

I do personally believe that bitcoin is eating some of gold's lunch, and many people are realizing that, but surely there are some people who are already comfortable with gold because they have been investing into it for a while, but it also seems that some of those folks are going to see the light, after a while, especially if they are really trying to pay attention and study into bitcoin rather than failing/refusing to appreciate that bitcoin is actually around 100x or 1,000x better than gold (while bitcoin has a market cap that is about 1/10 of gold.. so there should be some ongoing appreciation of the upside potential of bitcoin), but there are going to be some people who consider the physicality of gold to be a positive attribute rather than really not being as positive as they are making it out to be.. so many of them are going to come around to bitcoin.. even if it takes 5-10 years or so to play out.. not sure how long it will take.. but one or two more cycles in bitcoin is going to be harder and harder to deny its ongoing solid investment thesis.... and more and more people are recognizing such strong bitcoin investment thesis and getting ahead of the game.. including OP and his strategies seem to be decently good in terms of ongoing investing into bitcoin (even if seeming to be relatively modest amounts.. it adds up.. and surely going to put him ahead of his peers (not just gold bugs) who are failing/refusing to see the light and/or failing/refusing to act which is almost the same level of failure).

[buwaytress]

In 2013, when I first got into bitcoin, I was looking for a kind of dollar hedge investment, like gold, but I did not like some of the fees and other inconveniences of gold, like you mentioned... so when I came across bitcoin, it seemed to resonate with me right away, and I started a plan right away which involved investing for 6 months from late 2013 until about May 2014, and then to reassess my situation at that time.. which I did and I extended another 6 months, and by the time that I was investing into bitcoin for a year, I had pretty much established my position, and then just tweaked my strategy from time to time.

I do believe that there are going to be some people who look into bitcoin and it is going to resonate with them either right away or soon after looking into it (and maybe making a few mistakes, too?)... There are some people who consider bitcoin to be a good idea, but they are lacking in motivation to set up an account and to begin to take some action right away.. rather than waiting and/or not doing anything.

To me, it seem that if someone takes action right away and even just starts investing into bitcoin slowly, then they are going to start to get more comfortable with it.

I do personally believe that bitcoin is eating some of gold's lunch, and many people are realizing that, but surely there are some people who are already comfortable with gold because they have been investing into it for a while, but it also seems that some of those folks are going to see the light, after a while, especially if they are really trying to pay attention and study into bitcoin rather than failing/refusing to appreciate that bitcoin is actually around 100x or 1,000x better than gold (while bitcoin has a market cap that is about 1/10 of gold.. so there should be some ongoing appreciation of the upside potential of bitcoin), but there are going to be some people who consider the physicality of gold to be a positive attribute rather than really not being as positive as they are making it out to be.. so many of them are going to come around to bitcoin.. even if it takes 5-10 years or so to play out.. not sure how long it will take.. but one or two more cycles in bitcoin is going to be harder and harder to deny its ongoing solid investment thesis.... and more and more people are recognizing such strong bitcoin investment thesis and getting ahead of the game.. including OP and his strategies seem to be decently good in terms of ongoing investing into bitcoin (even if seeming to be relatively modest amounts.. it adds up.. and surely going to put him ahead of his peers (not just gold bugs) who are failing/refusing to see the light and/or failing/refusing to act which is almost the same level of failure).

Regarding this failure to see the light, I've been there so I might understand.

I really wish it had been a different time for me, or that previous iterations of digital currency didn't exist before then. Bitcoin definitely resonated with me at the time. Only, the resonance then was as I mentioned: a prior shitty experience with something called e-gold. Some similar concepts of independent money, libertarian finance, p2p economy, etc. Was heavily invested in it for years, practically revolving my work and business around it, and DCA-ing regular fiat into e-gold.

Long story short, it all collapsed when they and their holdings were seized by our good friend the US government. Lost all my business, savings, almost overnight. That was my chastening money lesson of the mid-2000s.

So in 2013 when I learnt about Bitcoin, I just couldn't stomach it. I failed to understand properly then that Bitcoin was fundamentally different, a complete animal separated from everything else I'd seen. But the earlier nightmare of e-gold blinded me to that. Thinking back though, I was in such serious debt anyway I may not have been able to buy any (although mining could have been an option but anyway, I think it's pointless to speculate on a past that didn't happen!).

I have to credit becoming deathly ill (literally) in late 2015, being bound to bed for months for the opportunity to really dig down into Bitcoin and learn about it. By the following year I was doing my best to switch all my freelance clients to Bitcoin, and that's how my DCA began. IT didn't seem like much at all in 2016 but it's turned out to be a modestly healthy amount today.

I think you're right, if (when) gold bugs apply the same diligence they do for gold into Bitcoin, they'll realise quite easily it's a superior investment product, or at least, worthy of sharing a seat at the same table as precious metal.

[aysg76]

@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.

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.

[bryant.coleman]

LOL.. this thread has an eerie resemblance to another thread, which was posted last year:

https://bitcointalk.org/index.php?topic=5298939.0

That 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.

[btc78]

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 .

[aysg76]

LOL.. this thread has an eerie resemblance to another thread, which was posted last year:

https://bitcointalk.org/index.php?topic=5298939.0

That 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.

I have also read this thread in the past and the user you are referring to gave up on updating the thread after two months and his last post on forum was in February 2021 although he is still active today but not posting.So don't know his reasons for doing that but surely my case is entirely different from him as i am going to update the thread on regular basis and gave up my junk food and put DCA till the time i feel it's all good.

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.

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.

[leea-1334]

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.

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.

[buwaytress]

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.

All fair points, but only time and Bitcoin market maturity will dislodge gold bugs from their stance. We've to remember retail gold buying and investing (not considering traditional gold hoarding with jewellery) also took a while to show up and shed the arguments of "too expensive" and "too complicated to own".

They're definitely not losing their fanbase any time soon, but when banks are already discovering how difficult it is to obtain gold, that squeeze on retail availability will force people to look hard and long at Bitcoin as the very visible, increasingly viable alternative.

[JayJuanGee]

@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.html

The 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=5298939.0

That 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 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.

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.

[Baskeyairdrop]

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.

I am sure with time, when you get addicted to investing into bitcoin, you would loose count of calculating your investment. Nevertheless, investing in this short period sounds like savings to me because the rate at which the price of BTC fluctuates might turn out not to favour you if you intend to get your funds withdrawn when you need them to do something.

[aysg76]

All fair points, but only time and Bitcoin market maturity will dislodge gold bugs from their stance. We've to remember retail gold buying and investing (not considering traditional gold hoarding with jewellery) also took a while to show up and shed the arguments of "too expensive" and "too complicated to own".

They're definitely not losing their fanbase any time soon, but when banks are already discovering how difficult it is to obtain gold, that squeeze on retail availability will force people to look hard and long at Bitcoin as the very visible, increasingly viable alternative.

The time will make gold and other all financial assets an alternate to bitcoin and more and more people who like to keep the gold bars in bank lockers and in jewellery form will find that it was not worth.Imagine the people who bought gold in recent years and now if they have some research not dumb minded ones who completely rely on gold is heaven can find out it is worth $995 for an $1000 investment and that's how they call it future guaranteed investment schemes?

You are right on the point that community is not going to lose fanbase easily but they are witnessing breakdown.The gold has been here for years and before the fiat also so it has trust over the people and moreover government and mainstream media is not portraying it under illicit usage and people can hold it easily due to legal status.But slowly and gradually this all beliefs will be washed away and bitcoin will be the priority for them but it might get too late as boat might have left the harbour.

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.

Will merge all the reports of my DCA investment in one place for sure as it will have proper clarity to all the members and they don't need to surf through all the pages to find about the next investment.This months updates will be made to @OP only and thanks for suggestion @JJG.

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.html

The 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.

It is now performing worse than even dead stocks which managed to rise 1-2% after some time and give the holders a little hope but on the contrary basis nobody talks about it and people are not panic selling it at this time.But the thing is now the investors are smart and not preferring gold bars that can't cope up with the inflation also.But bitcoin has grown 62000% in period of only 13 years and just imagine the world is still to recognise it's importance and in coming year's when all will  accept it the prices will skyrocket to new levels.Still who get a chance to have btc at $40k were lucky.