Young buck looking for adivce

[wannabefree]

Hey guys,

I've spent many hours researching Bitcoin after work and think that I'm finally ready to get onboard.
Just wish I'd been born a few years earlier to jump in, but it is what it is.
Unfortunately, my father is completely against it. He thinks it's like gambling and only a waste of time/money. But maybe I can prove him wrong! 
 
I would love to move out from my parents as soon as possible. But rental prices are very high where we live, and there is usually a long waiting list.
Got my wallet and everything ready. Just hesitating because the price is so high compared to a few years back and I only have money equivalent to 0.55 Bitcoin.
But as they say: "Time in the market beats timing the market." Still feels a little unfair, when I know it could have been like 9.5 BTC only a few years back. 
Feels like I missed the times where you could make money and it wasn't mainstream...

I'm happy for any adivce you guys can give me!

Greets

[BitMaxz]

Are you asking if this is the right time to buy BTC?
If yes, then there's no exact time or timing to buy BTC because no one knows what could be the price tomorrow or in the future.
So you can buy anytime, but my suggestion is to do it through the DCA method, meaning don't use all your money; split it to buy BTC at different times. This might not be the last lower price of BTC; we might still see $80k or lower, so doing it DCA every time the price hits the support zone, you can DCA and do it when the price drops until you accumulate a good amount of BTC bought at a better price than buying BTC when the price is already in the $100k zone, which is more expensive than the current price.

[PX-Z]

Unfortunately, my father is completely against it. He thinks it's like gambling and only a waste of time/money. But maybe I can prove him wrong! 

That approach won't work if their view on investments is unclear or uncertain. Every investment carries some level of risk since no one knows the future, but some assets have stronger fundamentals, making them more likely to perform well over time. Now that you have your own decision, it's late to start. Its even a good start now that Bitcoin is still at 90k. Because there is high chance it will  go back to 120k range than going back to 70k again.

To start with, make sure your wallet is safe to be used and your device is secured. Backup seed phrase should be offline to avoid getting hacked, make sure its safe from any physical thief as well.

[Potato Chips]

It be like that sometimes. Honestly, I think as oppose to younger people, older folks tend to be more closed off when it comes to newer ideas.

I would still advise you to take manage your risk (as with any investment). Don't put all or most of your money in BTC immediately as we don't know where life will take us, and you will be holding for a long run. Always set aside a good amount of liquid funds (fiat) in case of emergency so you're less likely to be forced to touch your investment.

I would agree with DCA. I've always liked the pros and cons here: https://dcabtc.com/

[ancafe]

I've spent many hours researching Bitcoin after work and think that I'm finally ready to get onboard.
Just wish I'd been born a few years earlier to jump in, but it is what it is.
Unfortunately, my father is completely against it. He thinks it's like gambling and only a waste of time/money. But maybe I can prove him wrong! 

If you say you've researched Bitcoin and are now ready to take part in the investment process, then your knowledge of Bitcoin should be much better so you can explain it to your parents. It's not a matter of whether it's too early or too late to learn about Bitcoin, because you still have the opportunity to achieve financial freedom through the investment process as long as you're consistent and continue to make purchases based on your capital. If you have a good knowledge of Bitcoin, explain to your parents that you've been researching this for a long time and that it might be time to take part.

[Asuspawer09]

It is surely a huge miss I mean if we are going to compare the possible profit when you invested a few years or when the time Bitcoin was just getting started the profit is surely going to be millions or even more.

But it was already done and there was nothing you could do about it, but one thing that I realize in the market is there are always opportonity that is going to come to make profit, I always says to a lot of beginners and newbies that the best time to invest is right now, as long as you know already what you are doing, you should start investing already because you need to actually experience investing in order to truely understand it, a lot of beginner get stack to analysis paralysis thinking that they need to learn everything first, but in my experience it wasn't always the case, you dont really need to put up a huge number from the start.

The best way to do it is DCA, slowly build your portfolio. I do not recommend started and investing huge amount, I suggest you pick crypto that you want to invest and do DCA on that token slowly building the foundation so that you could see how the market moves, and minimize your risk because market could drop easily because of the volatile market price, your not going to just loss a huge amount easily.

[Pressurizedem]

Hey guys,

I've spent many hours researching Bitcoin after work and think that I'm finally ready to get onboard.
Just wish I'd been born a few years earlier to jump in, but it is what it is.
Unfortunately, my father is completely against it. He thinks it's like gambling and only a waste of time/money. But maybe I can prove him wrong! 
 
I would love to move out from my parents as soon as possible. But rental prices are very high where we live, and there is usually a long waiting list.
Got my wallet and everything ready. Just hesitating because the price is so high compared to a few years back and I only have money equivalent to 0.55 Bitcoin.
But as they say: "Time in the market beats timing the market." Still feels a little unfair, when I know it could have been like 9.5 BTC only a few years back. 
Feels like I missed the times where you could make money and it wasn't mainstream...

I'm happy for any adivce you guys can give me!

Greets

We learn everyday, we don't relent but try out new strategies and also knowing deeply how the market works. Bitcoin can do more harming when you have no idea about the presence state of this project. There are more research to be carried out because Bitcoin have been a way to lured everyone to bottom, that's for those of us that are ignorant and don't know how to cope with the new phase of Bitcoin but for the patient ones, the sky is our limits in the market.

OP is not the only one who wished he enter the Bitcoin network space earlier. There are more to learn from the current phase of Bitcoin. it's been entirely different thing compared to years back when Bitcoin was common and cheaper, but today it's the top project in the crypto market.

[sleepfirefly]

Are you asking if this is the right time to buy BTC?
If yes, then there's no exact time or timing to buy BTC because no one knows what could be the price tomorrow or in the future.
So you can buy anytime, but my suggestion is to do it through the DCA method, meaning don't use all your money; split it to buy BTC at different times. This might not be the last lower price of BTC; we might still see $80k or lower, so doing it DCA every time the price hits the support zone, you can DCA and do it when the price drops until you accumulate a good amount of BTC bought at a better price than buying BTC when the price is already in the $100k zone, which is more expensive than the current price.

dca is also a great idea if you have not a lot of funds to start with but would like to continue to accumulate more bitcoin over time

basically buying regularly and if for example you earn every 2 weeks then maybe you can buy bitcoin every 2 weeks

[Die_empty]

I'm happy for any adivce you guys can give me

Welcome to the forum.

There is no need to regret lost opportunities. We must put them behind us and look forward to how we can capitalize on the ones we have now. Bitcoin still has the potential to keep growing in price, so no room for regret. It is up to you to know when you want to buy and how long you want to hold. The price of Bitcoin is unpredictable, you have to take risk just as other assets. Alternatively, you can decide to divide the money into several weeks or months and acquire Bitcoin using the DCA strategy.

I hope you also read about wallets and how to keep them safe. You would have to keep your funds in an open-source, non-custodial wallet. You should also learn how to keep your passwords and seed phrase safe.

[Rockstarguy]

I've spent many hours researching Bitcoin after work and think that I'm finally ready to get onboard.
Just wish I'd been born a few years earlier to jump in, but it is what it is.
Unfortunately, my father is completely against it. He thinks it's like gambling and only a waste of time/money. But maybe I can prove him wrong! 
 
I would love to move out from my parents as soon as possible. But rental prices are very high where we live, and there is usually a long waiting list.

Bitcoin shouldn't be the reason why you want to move out of your father's house. If you really want to make a decision like this, you need to be prepared financially, and you should be taking this decision at the right time.

Bitcoin investment is something you can do, and no one would know about it if you can keep it private. I don’t see any reason why you are blaming people for this because you can invest in Bitcoin quietly, but you can choose to shock those who doubted you in the end when you have achieved better results.

[hd49728]

I would agree with DCA. I've always liked the pros and cons here: https://dcabtc.com/

Another website that is practically helpful for investors who are applying DCA strategy or considering to use this strategy for their investment.
There it is https://costavg.com/

It has information of general investment performance and ROI of each DCA round. This site is helpful even for people who have never practiced DCA for their investment as they can add date of start and DCA Investment Interval, and see the results in given chart and table with many details as said.

[noorman0]

-snip-
Got my wallet and everything ready. Just hesitating because the price is so high compared to a few years back and I only have money equivalent to 0.55 Bitcoin.

For me, 0.55 BTC is a large sum, I have at least two expectations:
- You're not bragging
- This amount won't be a costly lesson because you started wrong.

so let's start seriously from...
I need your clarification, what kind of wallet did you get (software/hardware/web/extension)?

[Yablee0]

Feels like I missed the times where you could make money and it wasn't mainstream..

My guy i don't think you have missed out anything yet because the greatest thing is what you have just done by making the decision of investing in Bitcoin. However this is were we keep getting it wrong all the time by thinking to be late not knowing that their is no actual time to invest in Bitcoin meaning when ever you are ready by getting your discretionary funds intact then you are good to go.

Secondly another thing I noticed is that many investors are running away from investing in Bitcoin because maybe they think Bitcoin is too cost or it has already reached its peak, that is a very wrong conception so to speak because Bitcoin is still way beyond what we can even imagine, even though we are having a slight down fall in market price but in no distance time something big is coming up which am pretty sure of. So my advice for those aspiring in given it a trial, go for what you want regardless the financial or physical challenges involved because what Bitcoin hold in stock for us in future is something you wouldn't even wish your worst enemy to be left out.

[ruykeri]

You have done a very good job of researching, studying, and learning about Bitcoin and then thinking that you will buy Bitcoin. There are many people who invest in Bitcoin without knowing the right way and in most cases they make mistakes. And there are many people who have negative thoughts about Bitcoin without understanding it, which has been seen of your parents. As time goes by, more and more people will come out of this kind of thinking. The main goal is to be able to invest in Bitcoin for a long time. Those who came to Bitcoin in 2017, 2020, and even 2023 have also said that if they had been able to do it earlier, they would have made more profits. However, since you are new, you need to understand your income situation and start investing through proper fund management. If you cannot hold Bitcoin for a long time, then the possibility of you facing losses will increase. If you have discretionary income, you can follow the DCA method and invest regularly with a long-term mind set.

[PrivacyG]

Others say that the best time to invest was yesterday and the second best time to do it is now.  Bitcoin becoming main stream does not mean it is not a good idea to start now even if you feel like you are late.  The question is not what happened in the past and what you missed.  The question is if you still believe Bitcoin can do even better.  If you do not believe in it any more, in my opinion it is not a good idea to throw as much as 50 thousand Dollars on it.  Instead, find things you believe in, but believe in them with real reasons and not just 'instinct' or because others say you should.  Look up other types of investments, other Assets you could get into and spread the risk.

You are on the Bitcoin forum.  No body here will tell you to not buy.  The least they will say is that you should wait for another drop, but most of us pretty much still believe it is not too late.

[knowngunman]

I've spent many hours researching Bitcoin after work

Hours? That's not enough research yet. You definitely won't find interesting things within that time frame. What have you discovered if I may ask? Research never ends, days, weeks, months and even years it continues.

and think that I'm finally ready to get onboard.

No! You're not ready to get onboard. You will only be ready when you stop thinking and make final decision. Enough research will determine for you to continue thinking or to make conclusion.

Just wish I'd been born a few years earlier to jump in, but it is what it is.
Unfortunately, my father is completely against it. He thinks it's like gambling and only a waste of time/money. But maybe I can prove him wrong! 

You can only wish, it's not happening. You can only get started from where you are and stop thinking about the impossible. Procrastination is a weapon fashion against success, if you don't start now, you'll regret later and wish you started earlier. As for your father, you don't need to prove him wrong. Allow him to his belief.

[Rashlyowl]

Stories like this happen a lot in our city, BTC & crypto are not common things, they are considered as gambling. So, if someone is looking at charts, it means to most people that he is gambling. Ultimately, people who believed in BTC from the start were too late to capitalize on the opportunity they had.

Correct me if I'm wrong, you're questioning what's a good strategy for you now?

I don't think you need to go all-out on BTC right now, you can accumulate slowly, BTC is too volatile & it could be detrimental to your finances if you go all-out.

[Nathrixxx]

I've spent many hours researching Bitcoin after work and think that I'm finally ready to get onboard.
Just wish I'd been born a few years earlier to jump in, but it is what it is.
Unfortunately, my father is completely against it. He thinks it's like gambling and only a waste of time/money. But maybe I can prove him wrong!  
 

As long as you remain dependent of your parents, you will continue to have words like this, and the way you only need for now is to sort for your freedom first, then take learning bitcoin a serious business and give all it may takes to acquire it, because it pays and you will be profitable at last in bitcoin, once you're able to invest and hold, the future is undoubtedly secured for your profiting, by this, you can proof your father wrong in doing the right thing, here's the forum, another opportunity or platform to learn and discover more about it.

[PrivacyG]

Hours? That's not enough research yet. You definitely won't find interesting things within that time frame. What have you discovered if I may ask? Research never ends, days, weeks, months and even years it continues.

You are exaggerating it.  I do not remember doing research totaling  'days, weeks or months' before I found out Bitcoin was the thing.  To know the basic stuff you need probably a few hours of constant focus at most, you do not need to know the technical part of it to understand how important it is as an alternative to Fiat.

[Dave1]

I would love to move out from my parents as soon as possible. But rental prices are very high where we live, and there is usually a long waiting list.
Got my wallet and everything ready. Just hesitating because the price is so high compared to a few years back and I only have money equivalent to 0.55 Bitcoin.
But as they say: "Time in the market beats timing the market." Still feels a little unfair, when I know it could have been like 9.5 BTC only a few years back. 
Feels like I missed the times where you could make money and it wasn't mainstream...

I'm happy for any adivce you guys can give me!

Greets

There's a lot of factors that we need to understand here, first where you from? I'm asking because in some countries, 0.55 BTC is already huge. At the current price it's more than $5,000. So again, depending on the place, that could be good enough to move or rent a apartment.

And after that, if you don't have work, then get one. So that you can continue to invest your hard earn money into Bitcoin while you are still in your own now. Get a decent to good job that can pay your monthly rent and bills and then some for your investment.