Yatsan
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February 05, 2023, 03:31:29 PM |
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There's no need to compare. We have different capabilities as an investor. Bottomline is the amount you will invest should be an amount you can afford to lose if incase. Ofcourse what is ideal to have is bigger capital because it would simply generate bigger profit but also, it could yield to bigger loss. Risk will always be present. Even if you can invest 10BTC in an instant, but if you cannot manage the risks and will just hold for years, how long could you bear with it? Emergencies happen without any warning. Bottomline is, no matter how big or small your investment is, as long as you can make the right decision, you'd earn profit. And that is simply the same goal to each and every one of us here in this industry.
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Minecache
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February 05, 2023, 03:45:11 PM |
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Is 0.1BTC a lot and enough for long-term holding? I calculate my extra income that I use for DCA and I feel like this is the range of BTC I will end up owning on the long run, anything more will put me in a very tight position or maybe I need to upgrade my side job to earn more for investing into Bitcoin. What do you feel about this? 0.1 BTC good enough or not.
If you had a choice between 1 bitcoin and 10 bitcoins, would you choose 1 bitcoin? I believe anyone will choose 10bitcoin without any further thought. This means there will be no concept of enough or not, our greed is bottomless. If you still have the ability to accumulate more than 0.1 bitcoin, then why stop? Keep accumulating to the best of your ability because the more bitcoins you own, your future will be happier. Honestly, I'm holding more than 1 bitcoin, but I never feel enough.
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hatshepsut93
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February 05, 2023, 06:43:20 PM |
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Is 0.1BTC a lot and enough for long-term holding? I calculate my extra income that I use for DCA and I feel like this is the range of BTC I will end up owning on the long run, anything more will put me in a very tight position or maybe I need to upgrade my side job to earn more for investing into Bitcoin. What do you feel about this? 0.1 BTC good enough or not.
Pointless question without knowing cost of living in your region, your lifestyle preferences, family status and other needs. 0.1 BTC is nothing in the rich Western countries and a treasure in poor developing countries. 0.1 BTC is not enough if you have 10 children, but can sustain you for a long time if you are single and have no kids. Rent is usually one of the biggest points of spendings, so if you already have a house, you will need less money.
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pixie85
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February 05, 2023, 07:28:25 PM |
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Pointless question without knowing cost of living in your region, your lifestyle preferences, family status and other needs. 0.1 BTC is nothing in the rich Western countries and a treasure in poor developing countries. 0.1 BTC is not enough if you have 10 children, but can sustain you for a long time if you are single and have no kids. Rent is usually one of the biggest points of spendings, so if you already have a house, you will need less money.
Don't forget about his end goal for that 0.1. If OP's plan is to hold for another 10 years that 0.1 may ultimately become something big. We'd have to know OP's end game financial target as well. 0.1 BTC could be more than enough for a teenager whose plan is to buy a motorcycle and travel the country when he finishes school. It wouldn't be enough for someone who wants to travel around the world with this money. What is the price that you're aiming for OP? I won't touch my coins at least until we go beyond 100 thousand dollars. Anyting below 50 000 is a bargain for me and I'm buying. I have more than 0.1 because I live in Europe, where small house can cost you over $150 000.
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MoonOfLife
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February 06, 2023, 03:50:53 AM |
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Is 0.1BTC a lot and enough for long-term holding? I calculate my extra income that I use for DCA and I feel like this is the range of BTC I will end up owning on the long run, anything more will put me in a very tight position or maybe I need to upgrade my side job to earn more for investing into Bitcoin. What do you feel about this? 0.1 BTC good enough or not.
0.1 BTC is not much, but you can hold them even less than 0.1 you also can hold. Bitcoin investment is an investment according to each person's ability, if you do not have too much money, then invest little by little and accumulate them when possible. There is no rule about holding more or fewer bitcoins. Imagine that when bitcoin is worth 300k$-500k$/1 bitcoin, then 0.1BTC is also a huge amount.
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savetheFORUM
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February 06, 2023, 06:45:44 AM |
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If OP's plan is to hold for another 10 years that 0.1 may ultimately become something big. We'd have to know OP's end game financial target as well. 0.1 BTC could be more than enough for a teenager whose plan is to buy a motorcycle and travel the country when he finishes school. It wouldn't be enough for someone who wants to travel around the world with this money.
What is the price that you're aiming for OP? I won't touch my coins at least until we go beyond 100 thousand dollars. Anyting below 50 000 is a bargain for me and I'm buying. I have more than 0.1 because I live in Europe, where small house can cost you over $150 000.
0.1 btc right now is over 2k dollars which is more than enough for a motorcycle but buying one only for the sake of traveling may not really be a good idea but it is if we will use it as a service for work because public transportation on our area is rare. To travel the world is not necessary. What can you get with it other than expenses? But, it's fine if you are doing it for the purpose of business. Traveling and relaxing can mostly be done by the elites right now and not by an average individual. It doesn't matter where you live. Poor or rich country but it's about your goals. If you are too ambitious then you will not limit your self but you will always aim for more.
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GeorgeJohn
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February 06, 2023, 09:50:08 AM |
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Is 0.1BTC a lot and enough for long-term holding? I calculate my extra income that I use for DCA and I feel like this is the range of BTC I will end up owning on the long run, anything more will put me in a very tight position or maybe I need to upgrade my side job to earn more for investing into Bitcoin. What do you feel about this? 0.1 BTC good enough or not.
From my perspective investment of long-term in cryptocurrency or bitcoin in particular doesn't have a specific price tag someone or investors can stake for long term investment. Because it's obviously known that Bitcoin investment is determine by your funds and mostly a spare funds if really you want to make profit via the investment of cryptocurrency, so i believe that any amount of value is due for your prospective objectives towards your investment duration.
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Lucius
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February 06, 2023, 10:50:26 AM |
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~snip~ For me, in bitcoin terms, enough would be the 1% of the network, so, if there are 21M BTC the 1% would be 0.21M BTC or 210,000 BTC.
Don't you think that 1% of all possible BTC is too much? Even at today's prices, 210 000 BTC is an amount that even the biggest Bitcoin bulls like Saylor or the Winklevoss twins don't have - and realistically nobody needs that much wealth. In some earlier days, there was some idea about joining the 21 BTC club, and I think that this amount for the future is quite enough to make everyone a millionaire in USD or EUR.
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buwaytress
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February 06, 2023, 12:19:09 PM |
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^ Ah, I remember this Club 21. It was 2016 for me and I said, sure, I'd love to try for that, but maybe 1 BTC first -- I wasn't to know 2017 would leave all those plans far, far behind haha.
I don't think most people, myself included, could ever hope for that membership even today, even at sub 20k, but I'd like to think that at some faraway but not too distant point in the future, even 1 BTC would be some hell of a fallback plan!
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CageMabok
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February 06, 2023, 01:04:35 PM |
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Is 0.1BTC a lot and enough for long-term holding? I calculate my extra income that I use for DCA and I feel like this is the range of BTC I will end up owning on the long run, anything more will put me in a very tight position or maybe I need to upgrade my side job to earn more for investing into Bitcoin. What do you feel about this? 0.1 BTC good enough or not.
0.1 BTC is not much, but you can hold them even less than 0.1 you also can hold. Bitcoin investment is an investment according to each person's ability, if you do not have too much money, then invest little by little and accumulate them when possible. There is no rule about holding more or fewer bitcoins. Imagine that when bitcoin is worth 300k$-500k$/1 bitcoin, then 0.1BTC is also a huge amount. For me 0.1 BTC is a huge amount right now even though the price of Bitcoin isn't very high right now. And it's true as you said that is a pretty decent amount to make an investment in the long term because that amount will also get bigger when the Bitcoin price hits the next ATH. This is the great thing about Bitcoin because it can be bought by everyone with such limited abilities and in this year I will also try to earn 0.1 BTC in order to be able to invest in Bitcoin in the long term
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Lucius
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February 06, 2023, 03:37:52 PM Merited by buwaytress (1) |
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^ Ah, I remember this Club 21. It was 2016 for me and I said, sure, I'd love to try for that, but maybe 1 BTC first -- I wasn't to know 2017 would leave all those plans far, far behind haha.
I don't know exactly when this idea was first mentioned, but I found a topic from 2017 in which you also participated, and at the time 21 BTC didn't seem like a big number to most people - although according to your calculation it only took about $40 000 to become a member of that club. I don't think most people, myself included, could ever hope for that membership even today, even at sub 20k, but I'd like to think that at some faraway but not too distant point in the future, even 1 BTC would be some hell of a fallback plan!
I agree that it is an unattainable goal for most, especially if someone is starting from scratch, and even if you had 10 BTC it would still be a big challenge. In that case, selling those 10 BTC at the peak and then buying after a 60-70% correction would definitely be a ticket to that club.
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maydna
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February 06, 2023, 04:05:54 PM |
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Is 0.1BTC a lot and enough for long-term holding? I calculate my extra income that I use for DCA and I feel like this is the range of BTC I will end up owning on the long run, anything more will put me in a very tight position or maybe I need to upgrade my side job to earn more for investing into Bitcoin. What do you feel about this? 0.1 BTC good enough or not.
0.1 BTC is enough if the bitcoin price can get to the price of $ 60k- $ 100k, but that amount is still not enough, especially if you want to make big profits. At the very least, you should have 1 BTC to sell at peak prices. Currently, you can still do DCA because the price is still low. And to have 1 BTC is still possible as long as you regularly do DCA until you feel you have bought enough bitcoins or already have 1 BTC.
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LogitechMouse
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February 06, 2023, 04:37:50 PM |
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Is 0.1BTC a lot and enough for long-term holding? I calculate my extra income that I use for DCA and I feel like this is the range of BTC I will end up owning on the long run, anything more will put me in a very tight position or maybe I need to upgrade my side job to earn more for investing into Bitcoin. What do you feel about this? 0.1 BTC good enough or not.
My end goal amount of Bitcoin that I want is 0.01 BTC and it's enough for me already, and you're asking about that? Some might say yes it's enough. Some might say nahhhh it isn't enough especially for those who has many money to use to buy Bitcoin. Only you can answer that question. Is it enough for you? Do you feel happy if you reach that amount of Bitcoin? Will you be satisfied if you reaches that amount? For me, it doesn't matter if it's 0.001 BTC or 0.01 BTC or 0.1 BTC or even 1 whole Bitcoin as long as you are holding Bitcoin, whatever amount it is enough. The word "enough" is very irrelevant in a sense that, people might say that X amount is enough for them, but when they reached that price, they will think of a way again to increase that amount. The satisfaction isn't there. They want more after reaching that amount. That's most of the people is.
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adaseb
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February 06, 2023, 05:03:10 PM |
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Alot of people dont realise this but investing in bitcoin or ethereum will never make you rich anymore. It might 2x or 3x but this is not like buying bitcoin at $200 like in 2015 and having it go 345x times your investment. Don't belive all those articles which are saying Bitcoin is gauranteed to go to $1,000,000.
Many believed back in late 2021 that bitcoin will at least go to $100,000. So nobody sold at $69000 and look what happened. When the general population thinks something will happen usually its the complete opposite.
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Mpamaegbu
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February 06, 2023, 05:15:47 PM |
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Is 0.1BTC a lot and enough for long-term holding? I calculate my extra income that I use for DCA and I feel like this is the range of BTC I will end up owning on the long run, anything more will put me in a very tight position or maybe I need to upgrade my side job to earn more for investing into Bitcoin. What do you feel about this? 0.1 BTC good enough or not.
At today's value (currently) of $23,010, 0.1btc is $2,300+, that's more than enough a capital to start up trading. A lot of traders and investors have turned less than that amount to thousands of dollar. What's crucial in trading and investment is the knowledge and this surpasses the capital thrown into it. One can easily blow that same amount without having the basic knowledge of trading. It doesn't really matter the amount put aside for trading. Seek technical knowledge first. It's important.
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YOSHIE
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February 06, 2023, 05:31:36 PM |
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0.1 BTC good enough or not.
If you think Bitcoin investment speculation for the future or long term with a nominal value of 0.1 BTC is not enough, don't you think that the nature of the investment is unlimited. You have managed to collect 0.1btc at the moment, that is the best ratio, but it would be great if before the Bitcoin price reaches its highest point you already have 1 btc in reserve, maybe it is a perfect speculation for you. You already mentioned, the opportunity is still there, use the moment of the opportunity to collect and invest in Bitcoin as much as you can, I'm sure one day you will see perfect results in your investment, get rid of complacency with 0.1btc, opportunity only comes once.
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STT
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February 06, 2023, 07:08:41 PM |
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Impossible to say really because BTC has no fixed price, really the only answer is to regularly be involved in BTC. I dont think its bad to ever sell BTC, you should be able to do both as the situation merits as a person would with any other asset. So 0.1 BTC might be far too much capital to hold here or it might be a silly small amount if BTC were to stay under 10k for years. Accumulate whenever you can and deploy and rebalance your capital to best minimize your costs when you can, most people try to reduce their rental costs by owning a house and thats highly arguable to rebalance capital towards if BTC were to out perform housing. Theres no simple answer sorry, markets will change over years but the ideal is to buy BTC on the lows having a better confidence then most are able to hold.
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buwaytress
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February 06, 2023, 08:44:49 PM |
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I don't know exactly when this idea was first mentioned, but I found a topic from 2017 in which you also participated, and at the time 21 BTC didn't seem like a big number to most people - although according to your calculation it only took about $40 000 to become a member of that club. I don't think most people, myself included, could ever hope for that membership even today, even at sub 20k, but I'd like to think that at some faraway but not too distant point in the future, even 1 BTC would be some hell of a fallback plan!
I agree that it is an unattainable goal for most, especially if someone is starting from scratch, and even if you had 10 BTC it would still be a big challenge. In that case, selling those 10 BTC at the peak and then buying after a 60-70% correction would definitely be a ticket to that club. The memories! $40,000 seemed completely unattainable to me back then, I'd just started out freelancing and accepting Bitcoin payments (but up till that year the majority of clients were only willing to pay in alts if you can believe it!). Can't remember myself when I first heard of it but fairly certain it was in a chat somewhere, definitely not the forum. I do look back wistfully having lived through 2 ATHs and not being able to take advantage, but no complaints. My last major liquidation was at the end of 2020, so effectively, I sold at 2017 ATH and that wasn't a bad thing at all, given I really needed the cash and I wouldn't have been anywhere close if I'd saved in fiat. Almost half a million dollars now to buy "membership"!
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pawel7777
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February 06, 2023, 09:26:42 PM |
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Alot of people dont realise this but investing in bitcoin or ethereum will never make you rich anymore. It might 2x or 3x but this is not like buying bitcoin at $200 like in 2015 and having it go 345x times your investment. Don't belive all those articles which are saying Bitcoin is gauranteed to go to $1,000,000.
Many believed back in late 2021 that bitcoin will at least go to $100,000. So nobody sold at $69000 and look what happened. When the general population thinks something will happen usually its the complete opposite.
I wouldn't recommend it, but technically speaking you could still get rich by trading bitcoin with leverage (margin trading). Or just by active trading, accumulating at the bottoms, and selling the tops - you don't have to time the market perfectly and it may take years (if not decades) to get 'there' - but wherever there's a market, volume, and some price actions - there's also an opportunity to make money. But yeah, the only way we could see another x300 is either in an apocalyptic scenario when fiat systems collapse and Bitcoin jumps in to replace them, or when it first drops to a few-hundreds range and shoots back up.
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darkangel11
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February 06, 2023, 10:48:23 PM |
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I wouldn't recommend it, but technically speaking you could still get rich by trading bitcoin with leverage (margin trading).
Depends on your starting money and what "rich" is to you. Or just by active trading, accumulating at the bottoms, and selling the tops
You don't have to do all that. Holding can still be very profitable, again depending on how much you invest and what your goal is. Holding 0.1 will not be life changing, even if your goal is $200k, but a few bitcoins can be. But yeah, the only way we could see another x300 is either in an apocalyptic scenario when fiat systems collapse and Bitcoin jumps in to replace them, or when it first drops to a few-hundreds range and shoots back up.
You're aiming too high. Let's be more down to earth and think what scenarios are likely to happen. People always tend to aim too low in bear markets and too high in bull markets which is why some traders are still waiting for 10k bitcoin while others who waited for 100k last cycle regret that they didn't sell. Is 100k possible this cycle? Of course it is. I'm almost sure that we'll see it by the end of 2024. That's a 6x if you bought last year during the FTX drama. For someone with just 1 bitcoin that can definitely be life changing. 10BTC bought at that time is going to be life changing for most people.
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