My Past nine months bitcoin journey

[ReiMomo]

I am following your method of saving in another crypto coin not in BTC. I separate a part of my income for buying a top most coin every month and happy to see the value has grown well now. I am not going to take them out in very near future, but going to hold them. I almost save just $50 every month. I have almost saved 150$ so far. Hope this practice will yield me huge money in the future.

[1713545630]

1713545630

[JayJuanGee]

I am following your method of saving in another crypto coin not in BTC. I separate a part of my income for buying a top most coin every month and happy to see the value has grown well now. I am not going to take them out in very near future, but going to hold them. I almost save just $50 every month. I have almost saved 150$ so far. Hope this practice will yield me huge money in the future.

This thread is not about shitcoins..

So likely the DCA method may well not work out..   

In other words, either get the fuck out of shitcoins, or take your conversation about what are the possible pros and cons or additional factors that you may well need to consider if you are going to have any value parked in any shitcoin.. including regularly investing in such nonsense.

[aysg76]

I am following your method of saving in another crypto coin not in BTC. I separate a part of my income for buying a top most coin every month and happy to see the value has grown well now. I am not going to take them out in very near future, but going to hold them. I almost save just $50 every month. I have almost saved 150$ so far. Hope this practice will yield me huge money in the future.

I don't know which altcoin you are talking about and really don't want to know because for me bitcoin is the only best option available for doing my DCA investment strategy and as @JJG pointed out this might not work with shitcoins.You are saving each month as you said so why not bitcoin to do so? If you can have fraction of it only and you could stack ubtc or mbtc or even lowest unit of btc that is satoshi with $50 also btc is best option.There are certain reasons for this :

Your shitcoin might not provide return in future

They are not at all secure like bitcoin and centralised control over the currency in most of them which is easy to attack and dump the coins

Your $50 might turn into $500 with it but after the crash it will be worth $5 only

So if you want to follow then do the exact because this thread will help only bitcoin maximalist.Hope you understand.

[aysg76]

Now you see how bitcoin DCA investment could be worthy and my small investment have yeild me high profits with bitcoin reaching new ATH of above $65k and more to come.This is the power of king Bitcoin.

The @OP thread is going to be updated with this month investment charts most probably tomorrow.Not going to close this so easily because i am the long term holder and will keep you updated about the same for small investors motivation also.

[aysg76]

As I was busy in other works and was not getting time to update you all with this month DCA investment strategy but now @OP has been updated with the 5 ^th month of bitcoin investments done by me by putting my extra funds into it and frankly speaking I am now enjoying this journey seeing my profits. There were two things like prices of btc reach its ATH above $65K and my profits increased the same way but on the contrary basis I accumulate less sats due to high prices but that's the beauty of bitcoin that you could buy it in fractions also.I was into putting money into it no matter what the prices are and will continue the same for future also.


HAPPY ATH TO ALL THE BITCOIN HOLDERS..... ( Especially written it in green for the green candles over the charts  )

[CDC AP]

What a nice and good for health strategy. You made so right decision when decided to invest in BTC money instead of wasting them on junk food and were really lucky to make this when the price were decreasing and even dumped to 30K.

[Masplanc]

This is so interesting. I'm gonna emulate you, it is not easy to be discipline to make  such investment. I am sure if can invest even the little I have with me it will be profitable. I'll make this a target as far as it's Bitcoin I'm good to go.

[The Sceptical Chymist]

This is what I miss when I have the Bitcoin Discussion section on ignore.  Sigh.

OP, this is a great thread for one.  It shows others that putting aside just a small amount per week (granted, it's not small for everybody) for bitcoin can add up in terms of BTC and its fiat value pretty steadily.  Imagine if you'd bought $25/week worth of bitcoin back in 2015 or at any point when it was worth, say, $10k.  That would have been a hell of a return--but who knows how high bitcoin can go at this point?

Second, I assume you're probably young, and cutting back on things like fast food delivery and using the money to invest for the future shows a lot of wisdom and maturity.  To all the young people here in their 20s-30s, I'd advise you to follow OP's plan or at least do something similar, even if it's investing in stocks, metals, or what have you.  You'll be glad you did when you're older and have a family--or even if you remain single.  There will come a time when you either don't want to work anymore or can't, and you'll be in deep shit if you don't have a nest egg.

Glad I saw this thread, OP.  Props to you.

[aysg76]

This is what I miss when I have the Bitcoin Discussion section on ignore.  Sigh.

I also sometimes feel that there are some good threads on this section of forum piled under the load of other irrelevant ones and because of it started posting less here but few a times when i feel suitable to post or find some good discussion thread i visit this section and make posts not regularly.So this DCA thread fits here so made under this section.

OP, this is a great thread for one.  It shows others that putting aside just a small amount per week (granted, it's not small for everybody) for bitcoin can add up in terms of BTC and its fiat value pretty steadily.  Imagine if you'd bought $25/week worth of bitcoin back in 2015 or at any point when it was worth, say, $10k.  That would have been a hell of a return--but who knows how high bitcoin can go at this point?

I always heard people making various excuses like that bitcoin is very volatile which is true and others are saying the prices are too high and not affordable so it's just a lame excuse made by them and wanted to make them visualise that fraction of bitcoin can also be bought without going for full bitcoin and that's the beauty of bitcoin.The Lowest unit is Satoshi and you could also invest $10 minimum keeping the fees in mind.This is my weekly savings going for my future security.Like you said if we have done at an early stage then the time would be different for us but still it's not too late as if you cannot be a whale it's better to be coiner or say small fish instead of staying out and watching inflation and Governments robbing you up of last penny or we can say no- coiner is term for them.Although i have not set aside any price goals but keeping up it for long term and to accumulate more and more that i could till the time i Don't have surplus funds so whatever the prices are now only saving and who knows $100k is no more dream by the end of 2021

Second, I assume you're probably young, and cutting back on things like fast food delivery and using the money to invest for the future shows a lot of wisdom and maturity.  To all the young people here in their 20s-30s, I'd advise you to follow OP's plan or at least do something similar, even if it's investing in stocks, metals, or what have you.  You'll be glad you did when you're older and have a family--or even if you remain single.  There will come a time when you either don't want to work anymore or can't, and you'll be in deep shit if you don't have a nest egg.

Glad I saw this thread, OP.  Props to you.

Thanks for the kind words and yes maturity is when you realise that saving for future is must to enjoy your old age as saving don't always implies that saving for our upcoming generations.We waste so much money on different useless items and on junk food and i don't say it's wrong but just cutting your expenditure a little to divert the funds for some investment like bitcoin which will prosper your networth and health in future is must taking decisions.I personally don't want to be a guy who only enjoyed his teenage and now is working his ass off on job just for bread butter.I also made this thread with the intention of giving some motivation to people that it's still not too late and make your investment wisely even with low amounts you can but with consistency which will help you a lot.

This is so interesting. I'm gonna emulate you, it is not easy to be discipline to make  such investment. I am sure if can invest even the little I have with me it will be profitable. I'll make this a target as far as it's Bitcoin I'm good to go.

That's the spirit and you don't need to put exactly the same but just put on some or more according to your wish and as you said until its Bitcoin it's all good to go.But don't put for short term and don't get dispatched with Little dips or volatility and hold for long and you will see profits on your investment.

[DewiKirana]

A new habit that should be imitated by anyone. Setting aside the money you usually spend on junk food and then diverting it to buying Bitcoin is a smart move and requires high consequences. You can benefit from every investment in the future.

[aysg76]

A new habit that should be imitated by anyone. Setting aside the money you usually spend on junk food and then diverting it to buying Bitcoin is a smart move and requires high consequences. You can benefit from every investment in the future.

What i think is many people will appreciate this effort but only a handful of them will inculcate it in reality and follow my methods.See i am not forcing anyone to invest in bitcoin but you can make investment according to your choice but the main concern is to make them at an early phase so you won't regret later on.This is my way of motivating you all with my DCA investments and see i will be earning profits in long run but those who just ignore this will keep giving same excuses like they give today and will face some worse conditions.

[Kez1817]

Wow! Very inspiring post OP. It's difficult to hold bitcoins for a long term and also difficult to change your daily habits but you did it. This will help people here to follow your habit instead of wasting money in not necessary things or foods that can harm your health. It's really a good example for everyone and at this moment you already gain a lot of profit from your bitcoin holdings at the value of $60K above. Your example is a good motivation and I want to try it also.

[JayJuanGee]

Wow! Very inspiring post OP. It's difficult to hold bitcoins for a long term and also difficult to change your daily habits but you did it. This will help people here to follow your habit instead of wasting money in not necessary things or foods that can harm your health. It's really a good example for everyone and at this moment you already gain a lot of profit from your bitcoin holdings at the value of $60K above. Your example is a good motivation and I want to try it also.

Sure, everyone feels good being in profits in the short term, but the short term does not really matter too much.

If your investment thesis allows for at least a 4 year time horizon, then you can look at where you are at in 4 years and perhaps give a bit of a congradulations, and likely even more of a congradulations 10 years after starting... .. even though I understand that short term might feel good too, but the short term should be considered as paper profits rather than actionable profits. 

By the way, if you are really considering getting to a kind of fuck you status before digging into your BTC, then perhaps even 4-10 years is not enough to actually do any kind of sales of bitcoin.. everyone has to decide for themselves in terms of how to manage their wealth and if they are going to change from DCAing into bitcoin and to start to employ techniques like skimming off the top  of their BTC profits or engage in other ways of managing their BTC holdings above and beyond DCA buying...   The tactics and strategies might become more clear once the 4-10 years have passed and at that time it will be more concrete regarding what kinds of new tactics to follow, if any changes are deemed to be changed..

For sure more options are available for those who have BTC holdings that are within larger levels of profits, so likely the longer the passage of time, the more likely that profits are going to become better, and surely DCA might be the best of the techniques for normies trying to manage cashflow, but also lump sum investing and buying on dips can also be used to supplement accumulation.. so when you get 4-10 years down the road, your options can be appreciated....

On my personal level, I am getting close to 8 years in bitcoin... , and even with a relatively modest investment of $10 per week would have gotten someone nearly 5 BTC by now, and of course a more aggressive investment of something like $100 per week would have gotten 10x those results.

Probably based on current money printer and other various irresponsibilities that are happening to debase fiat money (and maybe even the fact that bitcoin is in a later stage of price appreciation), it may well be better to aim at a more assertive BTC investment approach and go for investing $100 per week as a target, if you can... and then see 4-10 years from now how your BTC investment holdings are doing.. I would surmise that there are really good chances that you will be in a decent place 4-10 years from now if you are able to attempt to be as assertive as trying to put $100 per week into bitcoin every single week.

I understand that not even OP has gotten his investment into bitcoin to $100 per week, but he is coming very close to that, and I am not even going to poo poo smaller levels of investing into BTC because each of us can ONLY reasonably invest as much as we are able to spare.. so sometimes it might not be reasonable or possible to set aside $100 per week or $400-ish per month.. so we do what we can and we also try NOT to over extend ourselves because we do not want to overinvest into bitcoin to such an extent that we are forced to dip into our bitcoin savings/investment at any time that is other than a time that is completely of our own choosing.

[aysg76]

Wow! Very inspiring post OP. It's difficult to hold bitcoins for a long term and also difficult to change your daily habits but you did it. This will help people here to follow your habit instead of wasting money in not necessary things or foods that can harm your health. It's really a good example for everyone and at this moment you already gain a lot of profit from your bitcoin holdings at the value of $60K above. Your example is a good motivation and I want to try it also.

Sure you could also try it but you can change the investment according to your priorities and frankly saying it's not too hard to give up on extra budgets ans save for our future when you realise this fact that junk food or any unhealthy expenditure is just fun for matter of time but accumulation of bitcoin is the top most priority for us that could give high profits in the long run and you could easily enjoy afterwards.When i said you can change your investment is mainly because you should be consistent and invest for long term and then only you could have sufficient btc with you and short term volatility should not affect you at all.

On my personal level, I am getting close to 8 years in bitcoin... , and even with a relatively modest investment of $10 per week would have gotten someone nearly 5 BTC by now, and of course a more aggressive investment of something like $100 per week would have gotten 10x those results.

That's the return btc have provided to the holders and not any other asset is capable of providing such high return even at low amounts and that also in such a short period of time.Those who grabed the early opportunity to invest in btc through DCA are now having some big amounts with them.

I understand that not even OP has gotten his investment into bitcoin to $100 per week, but he is coming very close to that, and I am not even going to poo poo smaller levels of investing into BTC because each of us can ONLY reasonably invest as much as we are able to spare..

Yes you are right i am getting close to $100 and this month's investment will have that week probably and to save $100/week into bitcoin to accumulate some more and if the current scene (99%) continues there will be more and more bitcoin investments made by me as now my portfolio only consist of them not any altcoins.Keep enjoying.

[Kadal Ijo]

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

4^th Month Investments

Week     Investment    Bitcoin aqquired       At price

Week 1: $55                 0.00115                   $47786.53
Week 2: $65                 0.00094                  $46389.44
Week 3: $75                 0.00114                  $49291.20
Week 4: $85                 0.00147                  $48989.18

Total 4^rd month bitcoin investment in my portfolio stood at :  : $280

How many btc were acquired this time : BTC 0.0058


5^th Month Investments

Week     Investment    Bitcoin aqquired       At price

Week 1: $65                 0.00152                   $42711.63
Week 2: $75                 0.00157                  $47675.47
Week 3: $85                 0.00154                  $54978.20
Week 4: $95                 0.00153                  $62034.18

Total 5^rd month bitcoin investment in my portfolio stood at :  : $320

How many btc were acquired this time : BTC 0.00616

Total Bitcoins aqquired with $1200 = 0.02813

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.

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Congrats, you deserve profit because of your patience to hold, seeing the current price of course many people regret not buying when the price is cheap, so as not to repeat the same mistake then buying now is an option that must be done immediately because I'm sure in December will pump up to $ 100 k.

[JayJuanGee]

I understand that not even OP has gotten his investment into bitcoin to $100 per week, but he is coming very close to that, and I am not even going to poo poo smaller levels of investing into BTC because each of us can ONLY reasonably invest as much as we are able to spare..

Yes you are right i am getting close to $100 and this month's investment will have that week probably and to save $100/week into bitcoin to accumulate some more and if the current scene (99%) continues there will be more and more bitcoin investments made by me as now my portfolio only consist of them not any altcoins.Keep enjoying.

At this point, I consider $100 per week to be a reasonably aggressive level, but I understand that not everyone can reach that level.  

In real life, I meet quite a few people.. mostly relatives, but surely some other people who find out about my investment and involvement in bitcoin, and almost every time that someone says something about the possibility of investing in bitcoin, they seem to get worried about bitcoin already having had some pretty decent price run up, and with almost everyone I tell them the same thing.. to get the fuck started, and hardly anyone actually follows through with doing something - even people who have been following my bitcoin journey for several years, and I had been telling them the same thing.  

So, yeah, I used to recommend $10 per week, and now I am into recommending $100 per week.  I do have one success case recently in real life of someone who is doing around $50 per week, and she is in her early 60s, so she does not have a whole hell of a lot of working time left, but I tell her that she should be able to get her shit together to be able to afford to invest more aggressively.  She does have property and some other investments like a 401k.. and presumably some kind of pension.. I don't really know her exact details, but I think that she already uses a lot of debt in various aspects of her life with whatever she is trying to achieve in the remainder of her working life.. so yeah, it becomes a bit more difficult to suggest to someone what to do if their investment timeline is short.. so in some sense even if I say you should invest $100 per week (to her) and she ONLY does $50.. well, she has to live with her choice, and surely her choice is much better than nothing.. which tends to be the outcome of the vast majority of people with whom I discuss the bitcoin investment matter in real life.... even if they are likely fairly easily afford up to $100 per week - especially if they have some kind of income already coming in or they are already having an established life in several regards.  

Younger peeps and newbies who have a decently longer timeline that is at least 10 years, might start out with $10 per week, just to get started, but to realize that $10 per week is not very aggressive to make much of any kind of meaningful difference, and they should be striving to move up to $100 per week as soon as they can get sufficiently comfortable to attempt to manage that level of ongoing injection of value into bitcoin.... and no matter what is the amount, they keep investing and see in 4-10 years how their investment is playing out and sure maybe along the way they can study the matter, reassess how much they are putting into bitcoin and reconsider other aspects of their investment and their lifestyle whether that is there expenses or their income and if they come to various reassessments along the way, they can also reconsider how that affects the amounts that they regularly put into bitcoin in a DCA kind of way and if they can supplement with other strategies like lump sum investing or buying extra on dips.  

[edited out]

Congrats, you deserve profit because of your patience to hold, seeing the current price of course many people regret not buying when the price is cheap, so as not to repeat the same mistake then buying now is an option that must be done immediately because I'm sure in December will pump up to $ 100 k.

You can ONLY act based on current circumstances.  So yeah, OP has several months worth of runway, and if we go by your forum registration date, we see that you (Kadal Ijo) have been involved here since late 2016 (nearly 5 years, no), so did you buy any bitcoin?  You have had a longer potential timeframe, no?  If you are considering getting started now because you anticipate a pump to $100k in December, then what you going to do?  consider that $100k to be a top.. or just keep buying whether a $100k pump happens or not?  If you had been already involved in buying bitcoin for 5 years, of course, you have more potential options about what to do.. but I believe that OP and his such early stages of his strategy that it likely is not going to help him very much to consider changing his strategy if there is a $100k pump because then the question might be to maybe hold back and wait for a dip.. or just keep buying BTC regularly whether there is a BTC pump or not. 

Again, a $100k pump does seem like a BIG so what for someone who continues in early aspects of their BTC accumulation stage... and maybe just a dilemma rather than some kind of place to take any reward.. even though some implications and even temptations will be to take reward.. which may or may not play out well.... but if such pump goes to $500k or even to $1.5 million, then there might be more logic in taking some off the table out of expectation of a correction.. but $100k is a bit more ambiguous regarding what to do.. especially for a newbie BTC accumulator with less than a few years of BTC accumulation.

[aysg76]

Congrats, you deserve profit because of your patience to hold, seeing the current price of course many people regret not buying when the price is cheap, so as not to repeat the same mistake then buying now is an option that must be done immediately because I'm sure in December will pump up to $ 100 k.

See i would like to suggest you not to quote full thread as it seems big text of wall and you can simply quote a part you want to reply to or if you want to have general conversation about the whole topic simply use this method:

Code:

 [quote] ~snip~ [/quote] 

Speaking about profits i have made them with the price increase but what actually profits are made when we cash out the investment but at this time in my case that's not happening as I am at accumulation stage only and will keep buying them even they pump upto $100k even after end of this year only.I have already Missed the opportunity to invest early but not going to wait even further for price to be low or dips because that's not happening so why wait even if you can put up such small amounts also for your future.But i would say that in case of an emergency if i am need of funds i won't have to go for any help to borrowers and my Bitcoins will help me in that case and i could cash out some portion of it because it is our financial asset to cover our back when we are down.But at this time plan for long term investment without thinking if it will go $100k we will be rich and spend all our coins but plan bigger and enjoy then.

[Mauser]

What an awesome success story, you started buying BTC at the best point in time, your initial purchases are up 50%. I wish I had started buying bitcoins again too but the high volality this year made me very cautious. At least I didn't sell any coins yet this year so I can still profit. What I really like about your strategy is that you buy coins weekly and not all at once. Like this you manage to get very good average prices. This is very inspiring for me and I will try to do something similar. With my Christmas money in December I will invest in bitcoins again and like you I will try to buy every week for some months. Do you have a fixed target for the bitcoin price when to sell?

[aysg76]

What an awesome success story, you started buying BTC at the best point in time, your initial purchases are up 50%. I wish I had started buying bitcoins again too but the high volality this year made me very cautious. At least I didn't sell any coins yet this year so I can still profit. What I really like about your strategy is that you buy coins weekly and not all at once. Like this you manage to get very good average prices. This is very inspiring for me and I will try to do something similar. With my Christmas money in December I will invest in bitcoins again and like you I will try to buy every week for some months. Do you have a fixed target for the bitcoin price when to sell?

Actually i consider myself late to the bitcoin accumulation stage but didn't want to go beyond this time limit and started investing money with all my savings to bitcoin for future safety and to counter balance the inflation rates and have no tension ahead.I heard about bitcoin in the past but was ignorant like others not to realise my mistake when prices were down but still i am doing it now so don't worry at all.You should not worry about volatility at all if you believe in it and keep investing if you have long term goal like me and this will surely be profits for you.Speaking of me i don't have plans to sell my coins as no fixed price target but at this time i am only at accumulating bitcoin as much i can to enjoy rest of the time and when i will need will sell them.So you should also try this by DCA and you will see gaining more coins at the same price through weekly or monthly investment like most of the companies do.This way average price is very much low compared to total investments.

[aysg76]

A good journey and now you can calculate profit, in life we must dare to do things that can make the future better, bitcoin investment is an easy way because the community and large companies are actively investing in bitcoin and this is the time we dare to take risks immediately buy bitcoins.

Yeah i am making up the whole things balanced and noted down to calculate the profits but will make depth analysis after 6 months of investment period to have an idea about the actual profits in that period and will take the fact how much average price it take my investment to reach that much btc accumulation stage.We all know btc is good source of investment and our funds will be safe so why don't we make our move? All the investments like stock and traditional markets have risk associated with it but we don't fear them but on the other side btc can make our inflation future secure with it's deflationary nature and we still make excuses about it.This is the time so take some motivation if you all can from me or anyone else but put some funds into it.