Currently, the price of Bitcoin is very low. And with the positive thinking about Bitcoin in the whole world and the increasing use of Bitcoin, I don't think that Bitcoin will ever be available at this price in the future. So now it is wise to hold on to Bitcoin as much as possible. I have decided to invest 40% of my income in Bitcoin. I am depositing 40% of my salary every month as soon as I get my salary, so I automatically have DCA because I am buying Bitcoin every month. I am thinking that if I get a chance to buy Bitcoin at such a price for 1-2 years, it will be a great opportunity for me. But I don't believe that I will get it for such a long time because I believe that Bitcoin will cross $100k again very soon.
Those who are still unable to think big about Bitcoin will regret it in the future but will not be able to afford to buy Bitcoin because we cannot even imagine that Bitcoin will be so expensive in the future.
Since 2020, I had been suggesting that newbies to bitcoin, who are serious about building a bitcoin stash, consider investing anywhere between 5% and 25% of their income into bitcoin depending on their capacity, and of course, what they invest into bitcoin has to be both within their discretionary funds and they also have to have extra money in their discretionary funds to cover savings (back up funds) and discretionary consumption.. so many times, it can be quite a struggle to just get to a place that their discretionary income is high enough to be able to reasonably get to the top of that 5% to 25% range.
Even in the west, so many normies have struggles to consistently save up to 10% of their income, so many folks will end up screwing up because they are not necessarily managing their income and expenses in a good enough way to be able to consistently save/invest 10% of their income.
Prior to 2020, I would suggest that newbies try to invest between 1% and 10% of their income into bitcoin, yet surely the events around 2020 contributed towards my increasing that range that I was suggesting and I also increased my suggestion that guys invest at least $100 per week (prior to 2020, I recommended at least $10 per week).. Of course, when guys are thinking about percentages versus actual substantive numbers, they have to figure out what works for them and they have to figure out that they are not spending all of their discretionary funds on investing (since they have to have savings and discretionary consumption funds), so ultimately they have to figure out the details for themselves in terms of what works and to make sure that they are not overdoing it.. since if they overdo it, they might not realize until it is too late that they had ended up putting themselves into a bit of a pickle and even potentially caused damage to themselves by their having had over done it.
Your assertion of your ability to be able to ongoingly invest 40% of your income seems a bit much, yet it surely is not impossible to achieve for guys who might either be able to sustain high income and/or low expenses...
By the way, I had frequently discussed situations in which guys might come to bitcoin and they already have other investments and/or a variety of resources, and I had frequently discussed fairly aggressive scenarios in which guys might be able to invest a couple of years of their income (or their expenses, which is a lower number) into bitcoin in a matter of 1 or 2 years, and that would be a form of front loading value into bitcoin and putting oneself into a position that they are quite prepared for up (and any upside moves in the BTC price that might happen and that we have historically seen in bitcoin), so you likely realize that if you are able to continue to invest on average around 40% of your income into bitcoin, then after 2.5 years you would have had put 1 year of your income into bitcoin and after 5 years, you would have had put 2 years of your income into bitcoin.. and I am not going to proclaim that those are impossible to achieve (even if they might not be usual kinds of levels that most normies are able to achieve). In the end, each of us are in a position to measure our own circumstances and figure out what we consider to be reasonably feasible, even if there might also be some aggressiveness in our plan design.
By the way, Z_MBFM, I see that you have been registered here for 3 years, so how long have you been following a 40% of income investment framework? Did you start out more timid? Were you trading and/or involved in shitcoins prior to focusing on bitcoin?.. I know sometimes guys will go through distractions before they are able to focus on bitcoin, and surely there can be a variety of ways that guys manage their cashflows and their back up funds depending on what kinds of resources that they might have available, so there can be guys who have various resources that they have as back up funds (or for emergency situations) that allow them to be more aggressive in their bitcoin investing since they can see that if they have problems with loss of income and/or increases in their expenses, they have some back up resources that they can draw from without having to tap into their bitcoin.
As a beginner I was told DCA has been the best in starting Bitcoin investment as it reduces risk and emotional mistakes. Bitcoin can be volatile which may cause people to panic- sell during dip but DCA disciplines how you follow a plan instead of reacting emotionally,
That's why it's good for investors neither it's beginner into investment or experienced investors to decide when to invest in bitcoin, secondly, before someone venture into bitcoin investment the investor should investigate properly or use a spare funds and invest, so that it will not be curious to invest...
You think that newbies need to "investigate properly" beyond figuring out the extent to which they have discretionary funds?
Why can't a newbie get started investing into bitcoin right away, as soon as he knows that he has discretionary funds?
From your perspective, what is the newbie investigating, exactly?
I was told that I don't need to start with a large lump sum, at least 10 percent of my income weekly I can steady build position overtime.
It work best in you believe In long-term growth instead of chasing short-term gains, steady accumulate while the asset grow and lastly being consistent.
What is necessary for bitcoin investment, is for the investor to invest what it can afford to lose, and another important for everyone who is newcomers to bitcoin, should know that long-term investment is very preferable than short-term investment in bitcoin...
If a person has figured out their discretionary income, then from within their discretionary income, they can figure out how much of that they want to invest into bitcoin, versus savings (back up funds) versus discretionary consumption. .. so yeah, the amount should be an amount that they are willing to lose, so that they don't get attached to the amount, yet each person still has to figure out their chosen level of aggressiveness and how much priority they give to bitcoin investing, and I tend to recommend that newbies consider trying to achieve somewhere between 5% to 25% of their overall income, yet the amount that they choose to invest into bitcoin still has to be within the amount that they are willing to lose, leaving room for savings and discretionary consumption and also likely a plan that they are investing 4-10 years or longer, and if they don't have age or health limitations, they should be considering 10 years or more for their investment timeline.. so of course, guys who are in their 20s, 30s and maybe even 40s, should not tend to have issues regarding age/health that limit them to less than 10 years for their investment timeline, and in the end guys have to figure out whether they are investing in bitcoin or trading, even though they don't necessarily need to figure that out prior to getting started buying bitcoin. They can start to buy bitcoin without exactly knowing all of the details about their future plans and/or their exact timeline... yet as they continue to invest, it would likely be in their best interest to spend some time, perhaps a couple hours a week or maybe a few hours a month (or whatever works for their schedule) to learn about bitcoin and learn about techniques for building and strengthening their cashflow management systems/practices.
Investing in Bitcoin is the best but those with less money will not be able to make much profit from investing in Bitcoin. Because the current market is quite volatile. But we wanted to see altcoin season after halving in 2024 but unfortunately this time has not come yet. I would advise you to trade in addition to investing in haste, it will be another source of income. Now the whole world is in economic crisis, So to retain the resources something alternative has to be done. So if you want to increase your wealth, you have to choose Bitcoin and other good coins. This will reduce the risk of losing assents.
Will trade provide you with an additional source of income, or will it ruin your long-term investment? What guarantees that you will profit from trade? As we all know, the vast majority of traders lose money.
For those who have limited capital and want to grow it. What they should do is look for additional sources of income through part time work, saving...It is unrealistic to think you can easily increase your capital just by trading.
You are exactly correct with those questions Danica22. Many guys tend to be unrealistic in their expectations that trying to trade is going to put them into a better position (in relation to how they deal with bitcoin) as compared to if they did not try to trade with their bitcoin.
Frequently, I suggest that guys who are lured into trading to limit any trading that they do to 10% or less of their bitcoin investment size.. Of course, many times traders cannot resist or limit themselves to ONLY 10% or to come up with systems to make sure to limit themselves in their trading and they devolve into trading (gambling) with more and more of their capital. it is ONLY a rare trader (perhaps less than 5% of those trying to trade?) that might be able to figure out systems to outperform a long term bitcoin investment plan, especially if measured from 8 years or longer...and even if they end up being able to figure out some way to outperform a bitcoin investment approach, their systems are likely difficult to replicate and likely end up having quite a bit of luck contained therein.. so it seems a bit silly to incorporate some system of luck into any investment that we might do with bitcoin, unless we can at least limit our exposure to such luck system to 10% or less of our bitcoin investment size.
What I mean by limiting to 10% or less would be any amount of new money that is put into bitcoin might be 90% into bitcoin and 10% into trading and to keep those funds separate.. so then perhaps after 8 years or more the guy could compare how his bitcoin fund is doing as compared with how his trading fund is doing and are they still 90/10 or do they have some other ratio to show which portion performed better over the years (not that anyone can go back in time to change what he did, yet he could use relative performance information to figure out the extent to which he might want to change any of the ways he is treating either of the funds).
Bitcoin is the only good coin that I know, I don't know about any other good coins that you are talking about and I wouldn't buy the idea of advising anyone to be trading as a source of income, some newbies can be mislead with this to be thinking that trading is some kind of easy way to make money while it is very hard and involves high risk, if your advice is on diversification then people have to get into other investments or business that are not related to bitcoin after investing in Bitcoin.
If you have a small amount of money, will investing in bitcoins be very profitable? i know bitcoin is the best coin
but if you have less money you can invest in altcoin.
Your statement is retarded. Newbies can invest in bitcoin no matter how much money they have, and there is no justification to invest in shitcoins. Shitcoins bring more risk and they surely are not the same thing as bitcoin, so if you are buying shitcoins with an expectation that you are investing, you have no fucking clue... You likely don't even know what is bitcoin.
The best thing for the very poor to do, is to completely ignore shitcoins and invest in bitcoin only.. perhaps 4-10 years and maybe later after they have built some wealth, then maybe they can fuck around with gambling with shitcoins with no more than 10% the size of their bitcoin investment.
Shitcoins are gambling or trading. They are not investing.
And you need to be careful enough to select good coins.
There are no good shitcoins. Do bitcoin first. Learn about bitcoin and invest into bitcoin, and if you want to spend 10% of your time, energy or value fucking around with shitcoins, they sure, you can do it, but if you are poor, you are diluting your time, energy and value on something that you apparently don't understand and you are distracted by gambling ideas or affinity scam ideas.
For this enter CMC and you can see the top ranking coins
The more you type, the dumber you get. You think that shitcoins are better if they are higher on the coin market cap list? Careful with those ideas, and careful with putting any more than 10% of the size of your bitcoin investment into any shitcoins and/or trading... but yeah, I know gamblers cannot stop their temptations.. and due to lack of patience and inability to focus on real value (such as bitcoin) they end up having fun staying poor.
but it is completely personal matter of who to invest in which coin.
Yeah... it is personal to the extent that guys get sucked into various shitcoin talking points and consider shitcoins to be comparable to bitcoin when they are not.
One of the ONLY things in which shitcoins are similar to bitcoin is the ease that they can be bought and also the ease in which they can be divided into small units so that generally, small amounts can be bought.. yet the mere fact that they are divisible and can be bought in small amounts does not make them an investment rather than a trade (or a gamble).. and we should not be gambling with our investments... especially poor people who might want to have a chance of advancing out of poverty and building actual wealth rather than fucking around and staying poor through bad habits and getting lured into gambling with whatever little time, energy and value they have at their disposal.
And new investors will never get confused if they have an understanding of the market.
You sound confused.. so if you are teaching (spreading information about) confusing things, yet you expect other newbies not to get confused by your nonsense proclamations? You don't even seem to know the difference between trading and investing, especially since you seem to believe that it is even possible to invest into shitcoins.
It's good to mix all three strategies. You have reserve funds to buy at the dip as your DCA is ongoing and lump sum whenever, you have extra funds that you didn't plan for.
Your assertion sounds quite incomplete, Ruttoshi, and perhaps even misleading to the extent to which many folks might not really find themselves in circumstances in which it makes sense to deploy any other strategy besides DCA... and sure, maybe a person who is brand new in his consideration of bitcoin, he might assess that he has a lot of discretionary funds available (perhaps other investments and savings), yet he still might not be in a very good position (based on his being brand new to bitcoin) to be fucking around with either lump sum or buy the dip, since he might need to get a bit comfortable with bitcoin before throwing large funds into it, even though surely there are exceptions in which some guys are already experienced in both their cashflow management and their investment history, so they might be able to invest large amounts into bitcoin right from the beginning.. yet it seems to me, those kinds of guys would be exceptions rather than being typical of an overwhelming majority of normies who are first starting to consider investing into bitcoin.
Sure, it is good to consider all three strategies of DCA, lump sum and buy the dip, when the circumstances might justify considering something other than DCA.. yet many times, an overwhelming majority of normies are going to be way better off to be figuring out various DCA strategies that are appropriate to their discretionary income and
other personal factors.. and surely within their considerations would be to consider how aggressive or whimpy they want to be (or are able to be) in their bitcoin investment and their starting out approach to bitcoin, in part, depending on their cashflow management systems/practices.
Yet, of course, anyone who has a regular income and regular set of expenses, they are likely to find, from time to time, they have variance in their income/expenses and they might even find themselves, from time to time, to have greater levels of discretionary funds available that would then justify considering the extent to which they might want to deviate from their DCA practices based on the amount of extra discretionary funds that they find themselves having available.
We understand that the method you use is a crypto investment strategy, as you mentioned here, it is certainly good.
Hopefully guys are not so retarded to believe that that investing in crypto would be a good thing.. .whatever the fuck crypto is.
Sure investing in bitcoin is a good idea, but fucking around with shitcoins is retarded...and surely it seems that Karl_3000 (in his OP and even the title of this thread) is talking about bitcoin not shitcoins.
How it works
From your 100% money you earn weekly, set 30% aside to buy bitcoin
From the 30% use just 10% from it to DCA
Use 10% to average
Use the remaining 10% which you have saved up for months to buy lump sum if bitcoin fall to like $70000.
However, you need to understand that many of my friends have speculated and carried out strategies like yours but to no avail.
I suggest simple advice on crypto investment strategies.
With your continued use of the term "crypto," do you even know what bitcoin is? If you are actually talking about bitcoin, do you believe that it makes you sound smarter to use the term "crypto"?
In fact, it makes you sound like you don't know what the fuck you are talking about if you are choosing to use vague and misleading language - to the extent that you are doing it on purpose.
You adjust your monthly income to your expenses, at least you do it for 3-6 months, if you pass the strategy you immediately start investing, you need to calculate your income and expenses, If you save 20-30% of your money until you receive your next salary every month, that's an investment, but on the other hand, if your expenses are not enough, 20-30% is impossible and very difficult to invest in crypto.
You are speaking gobble-dee-gook, YOSHIE.
Why is there some need for a certain amount to be put into bitcoin in order to count as investing? You make no sense.
Generally if you want to distinguish between investing and trading, then that would be based on a timeline rather than an amount.
So for example, if you come to bitcoin and you start to put $100 per week into bitcoin with an intention of building your bitcoin for 4-10 years or longer, then that is likely investing.
Yet, if you don't intend to stay in bitcoin, and you plan to sell whatever you put into bitcoin as soon as it becomes a certain percent of profits, then that would be trading.
You might not have a clear idea what investing means, even though first getting involved in bitcoin and even buying bitcoin on a regular basis (such as weekly) whether it is $100, $10 or some other weekly amount, you don't necessarily need to establish from the start of your involvement whether you are investing or trading, yet hopefully if you are regularly putting money into bitcoin (such as on a weekly basis), then hopefully you would be spending some of your available time to better learn about the thing that you are buying on a weekly basis.
Even though you have been registered on the forum for more than 7.5 years, you still seem to be a bit confused about both what is bitcoin (how to talk about it) and/or distinguishing between ideas of investing and trading.
In your 7.5 years on the forum have you built up a bitcoin stash or you fucking around with trading and/or shitcoins during that time?
This is despite the price of Bitcoin going up and down......! That's a different story.
I would think that it tends to take guys a considerable amount of time to build up a bitcoin stash, and it should not take very long to recognize that bitcoin is quite a volatile asset, so I am not sure how much value comes from getting distracted by the price, and so in that regard, the early investment approach to bitcoin would likely involve ongoing buying of bitcoin for several years, perhaps 4 years and beyond before maybe considering whether some adjustments in the buying strategy might become appropriate to consider.
Surely guys may well differ in their approach to either building a bitcoin investment and then what to do with their bitcoin investment as they build it, yet I would think that the longer that they are involved in bitcoin, then the more inspired they would become to at least trying to learn about both bitcoin and about strengthening their own cashflow management systems/practices (to the extent that they need to strengthen their cashflow management systems).
As long as you have a long-term goal investing in Bitcoin will always be profitable.
Even if Bitcoin is amongst the best (if not the best) place to put time, energy and value, bitcoin is not guaranteed to be profitable.
In fact with a small amount of capital it's better to avoid altcoins, because choosing the wrong one can result in losing your money or incurring losses.
Hahahahaha
You seem to be implying that it is possible to "choose the right" shitcoin? That is a bit ridiculous of a presumption - even if some guys might still play around with shitcoins with a small part of their time, energy and capital.
I don't know where you got this mindset. If you have little money and invest in Bitcoin, it's not profitable in my opinion. Investing in Bitcoin can still be very profitable if you set aside a percentage of your income to buy using the DCA method. As long as you have a long-term goal investing in Bitcoin will always be profitable.
In fact with a small amount of capital it's better to avoid altcoins, because choosing the wrong one can result in losing your money or incurring losses. I'm the opposite. I invest in altcoins when I have extra money after investing in Bitcoin, because investing in Bitcoin is a priority and then investing in altcoins.
Anyone can invest in altcoins but the person should keep it in mind that he is only gambling. If the money is a little amount but with no DCA, some people may decide to gamble.
What I will not like is the person to DCA with altcoins and later see how the altcoin will disappoint. I have seen some coins that I thought will increase again but they will increase more and fall back to a very low price. Example is filecoin that got to over $200 in 2021, but now it is around $1 or $2. Some coins even went from shit coin to dead coin.
Yes. It tends to be good to understand that any shitcoin involvement is likely better considered as an in and out kind of a proposition rather than an investment, and when folks DCA then there tends to be some presumption that the underlying asset being DCA'ed into is going to ultimately go up in value at some point, and with shitcoins, it becomes quite problematic to identify any one of them that has decently good odds of going up over time like an investment should have good odds of such upward trend.
Guys still may well still choose to put some value in shitcoins, and it seems that as long as they are limiting their exposure, such as 10% or less of the size of their bitcoin holdings, then they are at least mitigating some of the risk involved in playing around (gambling) with shitcoins.
