If you have invested, a mere 100 dollars per month, 1st of every single month, then this July 1st would be your 1 bitcoin reach if you started back in March of 2017. So on March 1st of 2017, you buy your first ever bitcoin, 100 dollars, and today you have 1 bitcoin. In this period, you have invested 11300 dollars of your own money, and now you have 1 full bitcoin, which is roughly around 60k, but peaked at 125k as we know.
So, it was a great investment if you did, and we are not talking about something impossible, it's literally just 100 bucks. You could have gained that much on average simply from signature campaigns too if you wanted. Or you could have invested 200 dollars instead of 100 dollars, and could have started in much later and still reached it.
Personally, I prefer weekly rather than monthly, since weekly will reinforce the habit, yet surely guys who are able to continue to buy every week or even every month for more than 9 years, then surely they would have had made pretty decent progress.
And by the way, there are 4.33 weeks per month, and so a guy who had invested $45 per week since March 2017 until now would have had invested right about $22k and he would have had accumulated just over 2 BTC, and surely that would be a good place to be after nearly 9.5 years of persistency and consistency in buying bitcoin.
If you live in a third-world country and earn only a minimum wage, it will really take a long time to accumulate a whole Bitcoin.
Instead of focusing on how long it will take or how much BTC you can get, focus on growing your USDT instead. Don't lock yourself into a goal that you already know will take a very long time to achieve. You might end up missing other opportunities if you do that.
Explore and look for other ways to grow your USDT. That way, who knows, you might get lucky and reach a whole BTC much sooner than you estimated, or even accumulate more than that.
Saving up dollars to buy the dip is an inferior strategy as compared to just buying regularly and consistently without focusing on the price and/or focusing on the dip, even if guys might get psychological pleasure out of buying dips when they end up happening.
There can be ways that guys try to increase their bitcoin purchases by making sure that they are able to buy a certain amount of bitcoin every week, no matter the price, but then at the same time, figure out ways to increase their income so that they can increase their bitcoin buys each week, so maybe they do some side jobs and they are able to use large portions of the income from the side jobs to buy bitcoin, even though their main job would end up paying most of their regular expenses and the main part of their discretionary consumption and any savings (back up funds) that they might end up building up.
There's another path, which is saving the money and buying it at some point. When BTC falls. Just like this one. I think the only trouble when doing that kind of strategy is that we can be tempted to use the money for something else. So buying consistently every week is still a good idea. But again, we are not going to receive the same amount of satoshis with our $50. There's a chance we might reach our goal faster if we buy on the right day of the week when it is cheaper.
For others who are starting, in my opinion, you don't need to force it. Just keep some satoshis in your stock, and it will be valuable in the future. Add more if you have the opportunity.
If guys are thinking that they are going to reach 1 whole bitcoin in 20 or 30 years by investing $50 per week, I have my doubts, yet there is nothing wrong with attempting to invest as much as you are able to invest.
Also there is nothing wrong with attempting to strategize which days of the week that the $50 per week buys are made, as long as the guys are not overly holding back, so for example if a guy tells himself that no matter what he is going to buy $50 per week in bitcoin, and maybe he has $500 (10 weeks worth of buys) saved up so that he can buy $50 per week, even if he has some weeks that his income is down and/or his expenses are up.
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When calculating a fixed monthly amount and a time frame of several years, it may be wrong to assume that the future price is constant. Because the monthly income or future Bitcoin price will never be uniform. As you say, it may have been possible to get 1 Bitcoin with $100 in the past, but there is probably a big trap. We who are investors today cannot measure the future with the price of 2017 because doing so may be wrong.
If you start with $100 a month today, your purchase amount may remain the same every month, but the amount of Bitcoin you will receive will not always be the same. If the price of Bitcoin only increases for several years, then that same $100 will gradually receive less Bitcoin. So in my opinion, when you multiply the monthly purchase amount by the year to reach 1 Bitcoin, it may definitely be wrong or not realistic.
Don't get me wrong, 1 Bitcoin is not impossible. But you probably shouldn't expect the same numbers and timeframes from the past to repeat themselves in the future.
You are correct Charcol. There is no reason to be whimpy in your proclamation that maybe you won't make 1 bitcoin with $100 per month, since it is almost impossible unless the bitcoin price crashes back to 2017 levels, which is quite unlikely.
I would suggest that something like $1,300 per month, which would be about $300 per week, might have chances of reaching 1 bitcoin after 10 years, and even that is not guaranteed. So $300 per week is about $15,600 per year and $156k after 10 years.
What do you consider the odds of the bitcoin price to average less than $156k in the next 10 years? That seems quite low to me.. .but guys can wish, fantasize and be unrealistic, if they like. It seems better to try to be realistic, and surely 10 years is a reasonable timeframe, and guys may or may not be even close to being able to buy $300 per week in bitcoin. If guys are closer to $50 per week, then they likely should be considering that their income might be able to go up, but they likely would not even be close to 1 BTC after 10 years, but instead maybe in the ballpark of 0.25 BTC if they can get their weekly amount to be $75 or more per week (which is 1/4 the amount of $300 per week).
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Accumulating 1 BTC right now is like accumulating 1 kg of gold in 2010 (gold was very popular that year - many considered it a money-making machine due to its previous ROI). By doing so, you are always a step behind.
Apply the DCA strategy to assets that are
currently undervalued (not ones that were undervalued in the past). And don't say there are no undervalued assets these days!
I doubt that bitcoin is undervalued right now, even though its price is around 100x higher than what it was in late 2016 (about 10 years ago).
~snip~
If I were to calculate how long I’ve been in the crypto space, I might already own more than 1 BTC. I’m focusing on the best way to reach 1 BTC without being burdened by time constraints.
You registered on the forum before me (2014), and if you don't have at least 1 BTC today, you either made a big mistake somewhere or you gambled away what you've accumulated over the years. Today it is a hundred times harder (more expensive) to reach 1 BTC than 10+ years ago when you could do it in a few months through faucets, or you simply bought 1 BTC for $200+.
However, if you have a goal and if you are persistent, maybe one day you will achieve what seems difficult to achieve from today's perspective.
The timeline of when a guy started would affect how much bitcoin he could have had accumulated. Surely in 2015, most of the year, the bitcoin price was in the mid $200s, so a guy could have had accumulated 10 bitcoin or more for less than $3k, even if he had to spread the purchases out through the whole year.
Of course, in 2016 the BTC prices went up, yet they were still reasonably price throughout 2016 between $400 and $800 for most of the year, so there would have had been advantages to accumulate bitcoin before 2017, even though the 2018 crash back down did end up bringing bitcoin prices into the $3ks, yet even then a lot of the prices between 2018 and 2020 still tended to mostly be above $6k, even though there were surely some spikes below $6k, too.
Maybe we could proclaim that guys who both got into bitcoin before 2017 and who might have had achieved most of their bitcoin accumulation during that time, should have had been able to accumulate decent amounts of bitcoin for average prices that were less than $1k per coin, yet at the same time, some guys really did not figure out that bitcoin accumulation was important until after the 2017 price run, so they might have some bitcoin accumulation prior to 2017 and after 2017.. so their average cost per BTC may well would have had been a bit higher than $1k per coin and maybe in the $2k to $3k territories, which still seems like bargain prices these days, even though prior to 2021, the $2k to $3k costs per coin did not seem that great.
Ultimately, guys have to figure out what they have, and surely they can end up getting distracted away from bitcoin accumulation and not realizing that they had missed opportunities that had been available to them at those earlier times... similar as today, guys have to recognize value in ongoing accumulation of bitcoin... even though there aren't any guarantees that they will end up looking back after 10 years or more and being grateful for the coins that they had accumulated during these times.
I never set a time limit for how long it will take to reach 1 Bitcoin because during the accumulation process, I really enjoy every satoshi I manage to collect. During the investment process, I never thought about how long it would take to reach 1 Bitcoin, but I always prioritized how long I could consistently invest. I don't mind at all how much I can afford to invest regularly because no matter what the amount, I can still have Bitcoin. However, if your target is to acquire 1 Bitcoin before you turn 45, then you will need to increase your average purchase budget.
So far, I have always relied on my own formula for investing in Bitcoin. Each time I purchase, the amount depends on the financial strength I have at that time, for example $50/Week does not burden me, so the amount is very realistic. Every time I get additional funds, I always increase the purchase amount, I also prioritize targeting time, not the amount because it is more realistic for me to do DCA consistently in the long term of more than 10 years than having to target 1 Bitcoin.
Something is wrong with the picture that you are painting, since you have been registered here as long as me, so it seems to have taken you several years before you figured out that you should have had been stacking sats?
You already know the deal that if you had been accumulating $50 per week of bitcoin since early 2014, you would have more than 17 bitcoin by now... but yeah, if you got started a few years later, especially if you started accumulating after 2020, then you might still be struggling to get to 1 bitcoin.... so if you started to buy $50 per week in the beginning of 2021, then you would have had invested $14,500 by now and you would have accumulated right around 0.35 BTC.
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Having a set target as per the quantity of bitcoin that ones plan to invest within a time frame will help an investor to be able to stay consistent with there bitcoin accumulation. However, it is not a must that the target must be reached within the given timeframe. There is always for an investor to adjust or make changes if it happens they were unable to meet the set target. Most investor without having a target may often end up not being able to have a good bitcoin holdings.
I am not sure if it is necessary to have a target for the quantity of BTC that we want to accumulate (even though it does not really hurt to monitor), even though it is probably a good idea to try to figure out how much of our discretionary income that we are able to use to buy bitcoin each week, and of course, we can have a variety of budgetary plans that might not be exactly consistent, even if we might be attempting to place a reasonably high priority on ongoing bitcoin accumulation.
