Does it take us a long time to reach 1 BTC

[ChocolateBitcoinK]

Not everyone enters with the same purpose. Many may be more interested in the possibility of profit in Bitcoin. Because there will be a hope of profit in investment. But we may be wrong if we say that the mentality of making money quickly is normal or harmless for beginners. Because the biggest mistake in Bitcoin usually happens here. In the beginning, some people enter with the hope of making quick profits, but when the price does not increase as expected and starts to decrease, they get scared. Even if the price increases, they rush to buy at a higher price. This aspect needs to be mentally clear in the case of Bitcoin savings. Bitcoin is not something that you can buy today and sell tomorrow to get a guaranteed profit. Even in my opinion, if you enter with a plan to make money quickly at the beginning, you may fail to follow the regular buying method properly. Because clearly then you will pay more attention to price fluctuations.
The main purpose of saving Bitcoin is not to make quick money in the short term. Rather, it is to understand your financial situation and strengthen your position. You may make a profit later, but it may not be right to worry about it now.

The mindset with which one enters the market is something we can't say for sure, because as you say, everyone enters with their own intentions. Many intend to make money quickly, but they're wrong if they think they'll make money instantly with BTC. It doesn't work that way; the key is to do it long-term, and as long as you maintain a good understanding of accumulating BTC, that's the best approach.

Every person always does whatever they do, whether they invest, do business, or whatever they do, they all do it to make a profit, and so those who are investing in Bitcoin are also definitely investing with the intention of making a profit. But the biggest difference here is only this one thing, and that is to realistically expect success and unrealistically expect success. You have long-term expectations through Bitcoin, invest correctly, ignore volatility without being afraid of it and maintain investment consistently. If you invest in Bitcoin in this way, then there will definitely be a possibility of getting something good from Bitcoin, but instead of these, if you enter Bitcoin with unrealistic expectations of getting rich overnight from Bitcoin, then the matter will definitely have a very bad effect on you, because it can then put you in big financial losses. And so investment always depends on the right mindset.

[Joeboy]

~snip~

There's no doubt about it, the best option for someone with limited income is to create a (DCA) trading plan for Bitcoin. Basically, it involves applying the method with a lot of discipline and enthusiastic, active effort to achieve the best results.

One of the tricks is that while using the DCA method, if there's a correction, make the effort and buy, even if it's a small amount. In the end, it adds up significantly, and only in the long run will the path to obtaining Bitcoin be shortened. But discipline and the habit of using DCA are key.

I wouldn't necessarily consider DCA to be a trading plan... Instead it is more of an investment plan, so you obviously made a mistake there.. If the goal is to reach 1 Bitcoin or any amut close to that, tha. trading cannot be the obvious way of growing your portfolio since traders are only well focused on selling just as much as they are buying while DCA is all about accumulating for longer term durations..

Also I very much think that it is purely a misconception to assume that DCA is only effective during corrections periods.. As a matter of fact, DCA dosen't support timing to buy.. Infact it is a strategy that encourages a consistent accumulation regardless the situation of the market.. And this very well implies that be it a correction or a dip or a pump, any of those period is possible to DCA...

[LUCKMCFLY]

I wouldn't necessarily consider DCA to be a trading plan... Instead it is more of an investment plan, so you obviously made a mistake there.. If the goal is to reach 1 Bitcoin or any amut close to that, tha. trading cannot be the obvious way of growing your portfolio since traders are only well focused on selling just as much as they are buying while DCA is all about accumulating for longer term durations..

Also I very much think that it is purely a misconception to assume that DCA is only effective during corrections periods.. As a matter of fact, DCA dosen't support timing to buy.. Infact it is a strategy that encourages a consistent accumulation regardless the situation of the market.. And this very well implies that be it a correction or a dip or a pump, any of those period is possible to DCA...

The goal is to reach 1 BTC. Yes, it's possible to achieve this through trading and market speculation, but the risk involved is enormous, and judging by the probabilities, the path is much more difficult that way. Reaching 1 BTC without these methods means having the money to buy 1 BTC immediately and HODL. It's up to the individual whether or not they want to nurture that investment.

The Dollar-Cost Accumulation (DCA) method is the simplest and most consistent way to reach 1 BTC through accumulation. Furthermore, taking advantage of dips and corrections to buy, in addition to the DCA method, further fuels the investment. This strategy is the best option for reaching 1 BTC with low to medium incomes, and it's also a great way to do it with high incomes.

[Ojima-ojo]

I wouldn't necessarily consider DCA to be a trading plan... Instead it is more of an investment plan, so you obviously made a mistake there.. If the goal is to reach 1 Bitcoin or any amut close to that, tha. trading cannot be the obvious way of growing your portfolio since traders are only well focused on selling just as much as they are buying while DCA is all about accumulating for longer term durations..

Also I very much think that it is purely a misconception to assume that DCA is only effective during corrections periods.. As a matter of fact, DCA dosen't support timing to buy.. Infact it is a strategy that encourages a consistent accumulation regardless the situation of the market.. And this very well implies that be it a correction or a dip or a pump, any of those period is possible to DCA...

The goal is to reach 1 BTC. Yes, it's possible to achieve this through trading and market speculation, but the risk involved is enormous, and judging by the probabilities, the path is much more difficult that way. Reaching 1 BTC without these methods means having the money to buy 1 BTC immediately and HODL. It's up to the individual whether or not they want to nurture that investment.

The Dollar-Cost Accumulation (DCA) method is the simplest and most consistent way to reach 1 BTC through accumulation. Furthermore, taking advantage of dips and corrections to buy, in addition to the DCA method, further fuels the investment. This strategy is the best option for reaching 1 BTC with low to medium incomes, and it's also a great way to do it with high incomes.

There is no way someone with the right information and risk Management tolerance will ever want to optioning for trading and market speculation to accumulate 1 BTC, this wont work out because you can't gamble as capital investment to gain real asset like 1 Btc, since you will definitely lose a lot of time using that approach.


DCA approach is the best option even though so going to be hard if you don't have the capacity to buy in large sum at a go, and buying little fraction each time is going to take a long time but at least it guarantees your potential 1 BTC goal.

[Perfect-World]

If we consistently buy with a Budget of $50 per week, it seems like it will take us almost 32 years to reach 1 BTC. Is that too long to reach 1 BTC? Do we need to budget more Money to reach 1 btc in our portfolio?

Well, if we Buy with a budget of $500 per week, it might only take us 3.5 years to reach 1 BTC.

I think we should calculate how long we will continue buying bitcoin and when we will enjoy it. Because if we are 30 years old, it will take us 32 years to reach 1 BTC with $50 per week. By the time we are 62, We will have 1 BTC.
Do you estimate how long You have set aside to buy bitcoin?

Having a target is cool, but having 1BTC at an estimated year may seem too much pressure on the investor. And this may shapen his use of money and put him under serious neglects of some normal live because is targeting something. Remember that there is volatility and prices may not always remain the same.

From your example given above, it mean the price of BTC remaining the same for you to achieve that plan, which we both know it can never happen. So if you have planned to follow your $50 per week buy to reach 1BTC, and the prices climbs in the market, it means that even though you keep to your own bargain of same buys, at the end of 32 years, you will have short of 1Btc because the prices aren't the same again. The same thing also applies to any measure you would want.

I'm essence, it's just best you get a comfortable amount from your discretionary and keep chasing it, buying and HODLing. Wether the prices rises or is falling, you are sushi. What marjoly matters is that you are adding to your portfolio and it's growing.

[Grease5000]

Personally, I don't think reaching 1 BTC should come with a deadline. I just buy with whatever  discretionary I have after taking care of my needs. If it takes years to reach 1 BTC so be it. For me, consistency matters more than rushing to hit a certain number.

[Marvelockg]

I wouldn't necessarily consider DCA to be a trading plan... Instead it is more of an investment plan, so you obviously made a mistake there.. If the goal is to reach 1 Bitcoin or any amut close to that, tha. trading cannot be the obvious way of growing your portfolio since traders are only well focused on selling just as much as they are buying while DCA is all about accumulating for longer term durations..

Also I very much think that it is purely a misconception to assume that DCA is only effective during corrections periods.. As a matter of fact, DCA dosen't support timing to buy.. Infact it is a strategy that encourages a consistent accumulation regardless the situation of the market.. And this very well implies that be it a correction or a dip or a pump, any of those period is possible to DCA...

The goal is to reach 1 BTC. Yes, it's possible to achieve this through trading and market speculation, but the risk involved is enormous, and judging by the probabilities, the path is much more difficult that way. Reaching 1 BTC without these methods means having the money to buy 1 BTC immediately and HODL. It's up to the individual whether or not they want to nurture that investment.

Obviously, these are the only two ways one can get to holding 1BTC in a lifetime and both ways are far from being easy because it takes a lot of work, discipline, failure and rising up to do before you can get to that height. trading is risking because you can start with as much as $10k hoping to end your trade at 1BTC only to find out that you are ending even at a loss. investing on the other hand is less risky and more realistic but at the same time, it always means that the investor must have a good source of income that can within a certain timeframe yield that returns for him. you have to decide what works for you and go about it patiently but investing is always a better option because t is less risky and has a more guaranteed outcome.

[LUCKMCFLY]

Obviously, these are the only two ways one can get to holding 1BTC in a lifetime and both ways are far from being easy because it takes a lot of work, discipline, failure and rising up to do before you can get to that height. trading is risking because you can start with as much as $10k hoping to end your trade at 1BTC only to find out that you are ending even at a loss. investing on the other hand is less risky and more realistic but at the same time, it always means that the investor must have a good source of income that can within a certain timeframe yield that returns for him. you have to decide what works for you and go about it patiently but investing is always a better option because t is less risky and has a more guaranteed outcome.

Well, the easiest way would be to buy 1 full BTC all at once, but for most people that's not feasible, nor do I have the full capital required to buy a complete Bitcoin in a single purchase. However, practically everything in life requires discipline and structured effort to reach a goal. Without proper order, any path becomes much harder.

Besides, the journey doesn't have to be as daunting as you describe it. The most rewarding achievements are often those built on hard work and consistent effort. In the end, the reward is always worth it, and you appreciate the true value of what you've earned much more.

[Awaisjanizz11]

If we consistently buy with a Budget of $50 per week, it seems like it will take us almost 32 years to reach 1 BTC. Is that too long to reach 1 BTC? Do we need to budget more Money to reach 1 btc in our portfolio?

Well, if we Buy with a budget of $500 per week, it might only take us 3.5 years to reach 1 BTC.

I think we should calculate how long we will continue buying bitcoin and when we will enjoy it. Because if we are 30 years old, it will take us 32 years to reach 1 BTC with $50 per week. By the time we are 62, We will have 1 BTC.
Do you estimate how long You have set aside to buy bitcoin?

If you really want to earn 1 BTC , what if we start investing money and try to increase our Budget and then try to buy with a budget of 50$ per day. It will take 4 years and 8-9 months . And if we increased our budget from 50$ to 100$ it will take 2 years and 4-5 months to buy 1BTC . And if you still want to shorten the time and increased your budget from 100$ to 500$ it will take about 6months to buy a BTC.

[cxtreenal]

Personally, I don't think reaching 1 BTC should come with a deadline. I just buy with whatever  discretionary I have after taking care of my needs. If it takes years to reach 1 BTC so be it. For me, consistency matters more than rushing to hit a certain number.

There is no need for a typical investor to set a specific time frame to reach 1 BTC as such a target can put extra pressure on them. Accumulating 1 BTC may be easy for a wealthy investor but it will not be easy for a poor and middle-income investor. In fact if you are a poor or middle-income investor you will need to do DCA regularly to build up your Bitcoin holdings.

Bitcoin is such a digital asset that the longer you stay in a long term accumulation strategy your chances of getting high returns will continue to increase. You will have a much better chance of succeeding in your investment if you regularly do DCA than if you buy Bitcoin using lump sum and stop.

[Comeacross]

Personally, I don't think reaching 1 BTC should come with a deadline. I just buy with whatever  discretionary I have after taking care of my needs. If it takes years to reach 1 BTC so be it. For me, consistency matters more than rushing to hit a certain number.

I know people have different thought on bitcoin but I don't think it is necessary to focus our attention on getting one Bitcoin. The price of Bitcoin today is huge and everyone would be happy to own a complete coin but if everyone should own a complete coin, do you majority would ever own it at all? You would be desperate if you're aiming for a complete coin when you're not financially capable. Bitcoin is divisible and that make it easier for people to own at least a part of it. The aim should be on accumulating as much as possible without stopping with the amount you can afford instead of focusing on how long it will take you to get 1 whole coin. Not everyone can get the whole coin.

[m2017]

Personally, I don't think reaching 1 BTC should come with a deadline.

Of course not. It’s not a sprint, after all. Then again, wait. Considering the limited supply, and the fact that some has already been lost, while the number of people wanting to acquire this asset is growing, it looks like you’d better hurry; there simply won’t be enough of that coveted "1 BTC" to go around.

I just buy with whatever  discretionary I have after taking care of my needs.

Without even setting aside reserves for unexpected expenses? So, you’re essentially using bitcoin as a sort of savings fund? You’re quite the risk-taker, then.

If it takes years to reach 1 BTC so be it. For me, consistency matters more than rushing to hit a certain number.

Given the BTC's rising price (with a price curve shooting sharply upward year after year), it seems to me that, unless income levels can be increased, it will take longer to accumulate the remaining portions needed to reach "1 BTC" (and the accumulation process will be slow).

I know people have different thought on bitcoin but I don't think it is necessary to focus our attention on getting one Bitcoin.

There is no need to get hung up on this, but given what I wrote earlier (regarding the deflationary model), one should still bear in mind that this "resource" will be quite scarce (especially considering that companies and even nations will hold this asset in reserve, thereby creating additional market scarcity).

The price of Bitcoin today is huge and everyone would be happy to own a complete coin but if everyone should own a complete coin, do you majority would ever own it at all?

After a while, you’ll laugh at the idea that bitcoin is expensive right now. Of course, not everyone can afford such a purchase. In some countries, people don’t earn enough in their entire lives to match the current price of bitcoin.

You would be desperate if you're aiming for a complete coin when you're not financially capable.

Therefore, need to start by choosing more achievable goals. Fortunately, bitcoin divides neatly into sat..

Bitcoin is divisible and that make it easier for people to own at least a part of it.

That is exactly what I am talking about. And with goals like that, there won't be any disappointment over unattainable achievements.

Then again, what’s the fundamental difference whether you’re "hunting" for 0.05BTC or 5,000,000 sat.? Is it psychologically more satisfying to view 5,000,000 sat. as something impressive?

The aim should be on accumulating as much as possible without stopping with the amount you can afford instead of focusing on how long it will take you to get 1 whole coin.

Provided that this accumulation doesn't endanger your current financial standing. Simply put, you wouldn't use your last remaining funds to buy bitcoin.

Not everyone can get the whole coin.

Absolutely right. With each cycle, the number of people capable of doing this will decrease.

[Derekfunds]

Personally, I don't think reaching 1 BTC should come with a deadline. I just buy with whatever  discretionary I have after taking care of my needs. If it takes years to reach 1 BTC so be it. For me, consistency matters more than rushing to hit a certain number.

You are right and I think someone who don't have a source of income that gives him or her a huge money which in turn results to huge discretionary income, should be thinking of how long it will take them to reach 1 BTC because it can discourage them seeing after some years of accumulation they have not gotten a reasonable fraction of Bitcoin but if someone has a huge discretionary then it will not be wrong if they think of getting a Bitcoin because it won't take them long time since they already have a good discretionary.

[JayJuanGee]

If we consistently buy with a Budget of $50 per week, it seems like it will take us almost 32 years to reach 1 BTC. Is that too long to reach 1 BTC? Do we need to budget more Money to reach 1 btc in our portfolio?

Well, if we Buy with a budget of $500 per week, it might only take us 3.5 years to reach 1 BTC.

I think we should calculate how long we will continue buying bitcoin and when we will enjoy it. Because if we are 30 years old, it will take us 32 years to reach 1 BTC with $50 per week. By the time we are 62, We will have 1 BTC.
Do you estimate how long You have set aside to buy bitcoin?

If you really want to earn 1 BTC , what if we start investing money and try to increase our Budget and then try to buy with a budget of 50$ per day. It will take 4 years and 8-9 months . And if we increased our budget from 50$ to 100$ it will take 2 years and 4-5 months to buy 1BTC . And if you still want to shorten the time and increased your budget from 100$ to 500$ it will take about 6months to buy a BTC.

The longer your bitcoin accumulation period, the more you need to account for the possibility of the bitcoin's price changing during the accumulation period, so you have more assurance that the price will be the same or close to the same if the accumulation period is shorter.  Your longer periods of time seems to fail and refuse to account for the changes in the bitcoin price. 

Of course, if you accumulate $500 per day of bitcoin for 182 days, then you would have had accumulated $91k during that period of time, and there are chances that the bitcoin price would have had averaged at or less than $91 over the next 6 months... Not guaranteed, but if your timeline is shorter, then it becomes possible to accumulate with the boundaries of your plan in terms of how much BTC that you would be able to get for the quantity of dollars that you anticipate putting into bitcoin during that time.

[Chilwell]

Personally, I don't think reaching 1 BTC should come with a deadline. I just buy with whatever  discretionary I have after taking care of my needs. If it takes years to reach 1 BTC so be it. For me, consistency matters more than rushing to hit a certain number.

I will say it is even a disaster for someone to be rushing to reach a certain number, there is nothing good in rush in anything you want to do most especially investment, everyone are all  aiming for a bright future to get to that level requires a lot of patience. Having it as a target is very important because that alone will encourage you to maintain your consistency.

1 BTC in our own currency is a very huge amount of money which we will find it very difficult to get to that level, maintaining the right strategy will be best option when it comes to targeting a particular number, it is not a crime to target a number but maintaining the consistency is the most important thing because gradually you will get where you wanted.

[Ruttoshi]

You are right and I think someone who don't have a source of income that gives him or her a huge money which in turn results to huge discretionary income, should be thinking of how long it will take them to reach 1 BTC because it can discourage them seeing after some years of accumulation they have not gotten a reasonable fraction of Bitcoin but if someone has a huge discretionary then it will not be wrong if they think of getting a Bitcoin because it won't take them long time since they already have a good discretionary.

It's not a most for a low income earner to reach 1btc because you are only going to buy based on your discretionary income if you want to keep your DCA ongoing overtime. You are only to just buying bitcoin whenever, your discretionary income is available no matter how small it is, even as low as $10. Being consistent and persistent will take you far and you will have a good size of bitcoin stash beyond your imagination. If you can accumulate up to 0.5btc and cannot afford to continue, you are far better than any bitcoin investor that has below 0.5btc in future.

Normally, you are not suppose to put 1btc as your target but a low quantity that will motivate you to accumulate and if you have accumulated up to that amount, you can increase your bitcoin target again and continue accumulating provided you still have more time and resources to accumulate bitcoin

[Odusko]

I wouldn't necessarily consider DCA to be a trading plan... Instead it is more of an investment plan, so you obviously made a mistake there.. If the goal is to reach 1 Bitcoin or any amut close to that, tha. trading cannot be the obvious way of growing your portfolio since traders are only well focused on selling just as much as they are buying while DCA is all about accumulating for longer term durations..

Also I very much think that it is purely a misconception to assume that DCA is only effective during corrections periods.. As a matter of fact, DCA dosen't support timing to buy.. Infact it is a strategy that encourages a consistent accumulation regardless the situation of the market.. And this very well implies that be it a correction or a dip or a pump, any of those period is possible to DCA...

DCA is a sure way most especially when you buy in large sums, the difference between someone with high liqudities and the one with low cash flow is in the amount of Bitcoin they buy at a go through DCA.

The goal is to reach 1 BTC. Yes, it's possible to achieve this through trading and market speculation, but the risk involved is enormous, and judging by the probabilities, the path is much more difficult that way. Reaching 1 BTC without these methods means having the money to buy 1 BTC immediately and HODL. It's up to the individual whether or not they want to nurture that investment.

Trading can provide you with the unexpected accumulation of bits that can make your journey to 1 Bitcoin more easier to achieve, but the question on the other hand is if you are actually profiting all through your trades, but then you have some point that trading can give you the mechanism to reach that one Bitcoin target as fast as possible.

[Jojo@6544]

If we consistently buy with a Budget of $50 per week, it seems like it will take us almost 32 years to reach 1 BTC. Is that too long to reach 1 BTC? Do we need to budget more Money to reach 1 btc in our portfolio?

Well, if we Buy with a budget of $500 per week, it might only take us 3.5 years to reach 1 BTC.

I think we should calculate how long we will continue buying bitcoin and when we will enjoy it. Because if we are 30 years old, it will take us 32 years to reach 1 BTC with $50 per week. By the time we are 62, We will have 1 BTC.
Do you estimate how long You have set aside to buy bitcoin?

I think you made a very good point.it not just About how much we’re buying each week, but also about how long we’re willing to keep buying and what our goal end is.$50 a week may seem small, but over time adds up.At the same time, we have to be realistic about our own budget and not invest more than we can comfortably afford

[JayJuanGee]

The goal is to reach 1 BTC. Yes, it's possible to achieve this through trading and market speculation, but the risk involved is enormous, and judging by the probabilities, the path is much more difficult that way. Reaching 1 BTC without these methods means having the money to buy 1 BTC immediately and HODL. It's up to the individual whether or not they want to nurture that investment.

Trading can provide you with the unexpected accumulation of bits that can make your journey to 1 Bitcoin more easier to achieve,

You are delusional if you believe that there is any meaningful chance that trading will accelerate (or improve) the ability and/or ease that you might be able to accumulate 1 bitcoin.

The best way to have assurance of advancing towards getting to 1 bitcoin is by ongoingly buying bitcoin and also by figuring out ways to increase your discretionary income so that you can buy more bitcoin with the higher levels of discretionary income that you would be able to reach.

but the question on the other hand is if you are actually profiting all through your trades,

You should assume that the odds of you being more profitable by trading as compared with ongoingly buying bitcoin is quite low, especially since trading means selling and selling means causing you to have less bitcoin, which also means that you are employing tactics that involve waiting to buy bitcoin rather than acting to ongoingly buy bitcoin, so then if you sell bitcoin with an expectation of being able to buy more, you are actually gambling on one set of events (the BTC price going down) and if the price does not go down and even worse if it goes up you end up with less bitcoin because you had been spending that time waiting rather than actually ongoing and persistently buying.

The odds are against traders to have more bitcoin than ongoing buyers, especially if we consider those kinds of behaviors on a consistent and persistent 8 year or more (2 cycles or more) basis.

You can look at the DCA charts yourself and see what the performance of a guy who had been ongoingly accumulating bitcoin for the past 8-ish years or more.  Do you really think that you can beat those results by fucking around trying to trade rather than staying focused on buying...

Look at it.  A guy who had been investing $100 per week in the past 8 years would have had invested $42k and he would have had accumulated 2.34 BTC.  You really think that you can beat that with fucking around trying to trade?  Why not take the sure results of ongoingly buying bitcoin rather than gambling with BTC prices maybe going down and maybe not and taking chances on the value of ongoingly waiting rather than ongoingly acting (through ongoing buying and ongoingly building up your discretionary funds to buy bitcoin)?

but then you have some point that trading can give you the mechanism to reach that one Bitcoin target as fast as possible.

You seem to be living in dreamlandia @Odusko if believe that gambling with your bitcoin is a good way to build it.. gambling is more likely to lead you to being more poor rather than getting lucky from having had been gambling rather than building.

[alankasman]

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I think you made a very good point.it not just About how much we’re buying each week, but also about how long we’re willing to keep buying and what our goal end is.$50 a week may seem small, but over time adds up.At the same time, we have to be realistic about our own budget and not invest more than we can comfortably afford

When we gain knowledge like this, and you think it's excellent what we have to determine is whether we can or are able to do it that way. This is because it concerns our consistency in doing it, not anything else. I think this is what makes it difficult to maintain consistency, especially in these times when the economy is so difficult to generate income our enthusiasm can sometimes decrease.

The amount we want to make for purchases isn't just about large or small, but also how we adjust it so we don't have to worry about problems whether we already have responsibilities or not. What's clear is that our income remains the primary source of our needs and beyond that, we can build assets for the future by making purchases with the amount of discretionary income we have.