Nobody is talking about trading here (or even selling)..

or alt coins (shitcoins)

or comparing bitcoin to shitcoins.

This thread is about ways to accumulate bitcoin and manage a bitcoin accumulation strategy.

I would characterize the distinction of investing in BTC versus trading a bit differently than how you have done aysg76.

Investing has more to do with both the timeline for how long you expect to hold your BTC and also the lessening of emphasis on selling.... Of course, you have complete discretion over how to think about your investment and to consider whether you would like to change your strategy or mindset about your investment at any time. 

The two concepts of investing and trading might have some overlap in the way you think about them or the way that you practice them, but there are ways to attempt to distinguish them in terms of investing having less emphasis on selling and more emphasis on holding for a longer timeline as compared to trading having more emphasis on selling (from time to time) and not necessarily holding for any kind of extended period of time.

With your example of having $500, and choosing how to invest it.  Whether you invest right away or you invest over time, investing all at once would be lump sum investing and investing over time could be dollar cost averaging (DCA) or you could also having a combination of DCA, lump sum investing and buying on dips, which would all be forms of investing.

Trading would end up including selling, and sometimes people sell some or all of their BTC while hoping to buy back lower, and that would be trading.. even though there are ways to argue that if they are accumulating BTC profits, then that could be investing if part of their portfolio is set aside.. but some people have difficulties controlling their gambling inclinations so they may end up selling too much too soon and then not buying back before the price goes back up (well, that is if the price dips).

Part of the reason that I ongoingly emphasize buying and holding and deemphasize selling is because ongoingly buying has tended to be a decently good strategy so long as there is holding of whatever is bought for 4-10 years  or more.. and there is no real reason to conclude that ongoingly buying bitcoin and accumulating of bitcoin is not going to continue to be a decently good ongoing strategy.  Of course, each of us has our own abilities to conclude that we want to sell some or all of our bitcoin position, and from my point of view there is some needs to be careful in terms of managing your own budget and cashflow in order that you do not end up NOT having sufficient amount of cashflow and/or emergency funds.. and also so that you are not tempted to dig into any or all of your bitcoin at a time that is other than your own choosing, but if you try to plan for the long term, such as 4-10 years out or maybe even set some targets regarding reaching fuck you status before starting to cash out... and of course, each of these assessments are individual in nature, and if you accumulate a decent amount of bitcoin, you will likely increase (rather than lessen) the number of options that you have... also the greater that you are in profits - maybe over one or two cycles, you will also start to feel that you have more options - but also hopefully, if you do start to trade or get tempted by other kinds of strategies, then hopefully you recognize and appreciate risks and do not play around with too much of your overall BTC stash.. perhaps less than 10%, but that is also up to each person to assess how to manage his/her BTC portfolio as it becomes larger and large (and presumably it will with time, even though there are no guarantees with that, either).

I see your update in OP.

Very nice 7th and 8th month.. averaging more more than $100 per week for each of those two months.. 

That's great.

And it would be a good thing if you are able to maintain that level of ongoing investment for the coming 4 years (or at least 3 years and 4 months), and yeah of course, if you are not getting close to fuck you status, you are likely advantaged by a certain period in which the BTC prices stay down... even for a decent period time.  And sure, you can reconsider your approach at various points along the way too if you want to change anything but at least $100 per week seems to be a very reasonable amount...

I do have my doubts about your ability to keep going for 4 years or even 8-10 years, but hey, you never know, we might be surprised, but it looks to me that even something like 0.1BTC may well be in the entry level fuck you status in 11 years.. and you are more than half way there in ONLY 8 months...  Look at this.

Of course, my December 23 post in this thread showed that it is quite possible that with something like $100 per month (or even making up for some of your past lower levels of DCA amount) you may well be able to get to 0.428 BTC by the middle of 2025... and gosh that would get you to fuck you status earlier, too - just to project out. .getting to something like 0.8 BTC might well put you at fuck you status in early to mid 2030... and it seems like it could be possible to do that with $100 per week-ish.. even though you feel bad about lower BTC prices, you are able to accumulate more BTC to help getting to some higher possible target levels of BTC accumulation.. which would also cause less pressures in terms of how much the fiat price might need to be for you to feel that you are getting into fuck you status.. as surely some of those measures will also change with the passage of time, too... and needs to continue to reassess along the way and stay more focused on the longer-term... which surely would not be bad for you or anyone else if you are able to get to some kind of close level of fuck you status in 10 years or so (and persistent and aggressive action, even during these dip periods) likely helps to get there faster.. so long as you continue to stay persistent and relatively aggressive - without going over board.. if you over-extend yourself, then you become more likely to panic, too.

Due to some reasons was not able to update the thread with this month investment but have never thought of abandoning the thread as have promised to update it as long as i can along with my DCA investment journey.

Will prepare the chart soon and will send the progress report to all members here soon and boost some morale of the members that Bitcoin investment can be life changing for them and it's must for us to invest in it.Maybe tomorrow only the thread will be updated with the previous month investment and this time it was same.

I also cannot understand if OP has updated his journey or not, is the 8th month considered to be February? It's mentioned that he did not have enough time to update the starting post, but it's not clear when it was lastly updated. Kind of confusing, @aysg76 I'd suggest to use dates, at least mention month and year on each month that passes by (02/2022, 03/2022). Hadn't read an update for quite long and not sure where you left off, it's a shame that for such a petty mistake, makes it hard to comprehend how time progresses throughout your Bitcoin journey. It's an interesting approach, just make sure you mention which month is which in the starting post to make it more clear.

It's really not bragging, in the face of a powerful test, without exception, they all succumb to power. Only Bitcoin, withstood the test.

If you have already come to a decision (conclusion) that bitcoin is a good long term investment, then one of the best practices is to figure out some kind of way to buy in regularly, rather than waiting for dips that might cause you to frequently be waiting for dips without pushing the buy button and therefore not being prepared for UP when the time comes... frequently unexpectedly.

Of course, you can develop a strategy that combines regular buying (dollar cost averaging/DCA), lump sum investing and buying on dips.. but I will wager that you are going to fuck yourself out of a lot of psychological stake in the game by failing/refusing to regularly invest into bitcoin.. and furthermore your failure/refusal to put psychological stake in the game also results in your being inadequately prepared for UP when it comes and also contributes to your failing/refusing to actively pursue research into bitcoin in order that you can learn that it happens to likely be the best investment that you are likely to come across.. including its asymmetric UPpity nature and the ability for the poorest of the world to get involved into buying bitcoin - even though historically poor people have been locked out/excluded from a lot of investment types.  

So, yeah, you can choose to overthink the matter and attempt to nickle and dime your timing into getting into bitcoin, and I would wager that you are likely way the fuck better off to get started investing into bitcoin as soon as possible and figure out some kind of a budget and plan that is reasonable/prudent for yourself.. while considering your investment into bitcoin to be a long timeline of at least 4-10 years rather than considering how much or whether you might be profitable in such investment in shorter timeframes...

And by the way.. don't be screwing around, diluting your bitcoin investment or getting distracted into any of the so many shitcoins.  In that regard, stick with investing into bitcoin first, and maybe after you have been investing into bitcoin for a few years and studied what makes bitcoin different from other investments, including shitcoins, then you might consider exploring whether you might still want to research and invest into some other non-bitcoin project or coin.

I guess that one sign that you are being sufficiently aggressive is that you are having to struggle in order to continue to carry out the regular buying.

Of course, you do not want to end up in a situation in which you have over done it.. so you gotta make sure that you are otherwise managing your money and keeping sufficient funds for emergencies so you do not have to dip into your bitcoin until it reaches a decently high and profitable status..   That would be the better case scenario... so ultimately I am glad that you were able to reach $100 per week investment/buying levels.... and of course, only you know your personal circumstances and how much sacrifice that you are having to make in order to continue to dedicate your $100 per week to buying bitcoin..   Congratulations.

How is anyone going to know dips before they happen?  It seems to me that a lot of people who buy on a weekly basis will attempt to time their buys within each week, and if you attempt to move those buys out and spread them out during a month or something like that, aren't you going to run an equal risk of failing to adequately prepare for UP in case a dip does not happen?  

It's all fine and dandy to say that you "should have bought on the dip" but the vast majority of normal people really do not know these things in advance with any kind of reasonableness...beyond gambling.

Do you know the BTC price in advance?  What's your level of confidence?  what if you are wrong and the BTC price doubles rather than halves as you expect?

We might be quibbling about definitions in terms of what is sufficiently aggressive, here?

I would say that having a budget in which you are having to stretch your funds to make sure that you buy enough bitcoin every week while having some hesitations regarding if you have enough money including that you have your emergency fund and other expenses covered would be sufficiently aggressive.

If you are engaging in gambling and leveraging and taking from your expenses to hope that you have enough money 3 months down the road because you put a lot of it in bitcoin and you are worried about the bitcoin price going out so you can use that money to pay for your expenses, then I would say that is overly aggressive.

I suppose on the other hand, if you are holding onto a lot of extra cash and waiting for a dip, and each week you have several hundred extra coming in that you could invest into bitcoin, but you are ONLY investing $100 into bitcoin, then maybe you are too whimpy in your bitcoin investment..   

Actually, there is a bit of a sliding scale here because I would not consider some kind of formula that is 1/2 or even 2/3 of the extra cash to be saved for buying on the dip to be overly whimpy.. but surely 2/3 would be getting on the borderline, at least for me, for considering that to be overly whimpy... so for example, you might have a certain budget for buying on dips, and maybe you have already allocated some of that money for buying on dips, but the recent BTC price action causes you to conclude that maybe you do not have enough for buying on dips.. so therefore, you allocate more for buying on dips as that money comes in.. so then the question becomes in the event that your BTC stash is not even close to fuck you status and is pretty damned small, then how much of that incoming cashflow are you actually spending every single week (right away in other words) to buy BTC... so if you are spending a lot of your incoming cashflow, then seems to me to be sufficiently aggressive, but if you are holding back a decent amount of your cashflow then you might be neither sufficiently aggressive and bordering upon whimpy status... hahahaahaha 



You likely do not need to convince me or too many other regular bitcoiners about the bullish case for bitcoin, and for sure, part of the reason to be aggressive with your regular BTC buys and even to be "sufficiently aggressive" is to attempt to better prepare yourself for those bullish case scenarios playing out and the risk that if you are less aggressive or even whimpy in your preparations, you will likely be kicking yourself when the bullish cases for bitcoin end up playing out.. and for sure, I am not even suggesting that the bullish case for bitcoin scenario is guaranteed.. but there is an angle to being sufficiently aggressive that allows the consideration that ongoing investing in bitcoin remains an asymmetric bet to the upside, and sufficiently aggressive investors are likely to feel much better in the years to come than those who had decided (or ended up) playing out whimpily or overly whimpy in their BTC investment/accumulation approach.



From your description, I would categorize your situation as sufficiently aggressive... when you are somewhat struggling to continue to maintain at least $100 per week, then those struggles are real...

Actually, you likely recall that I have been telling people about bitcoin in real life for years and years.. and I have a relative who has a pretty decent budget, and she is buying less than $100 per week, even though she could likely be quite a bit more aggressive based on her own finances and based on what bitcoin represents.. but she chooses to be less aggressive... and for sure there is some choice involved and for sure, it is better that she is investing something rather than nothing.. but for sure, she does not seem to really understand the bullish case for bitcoin very well.. ... and there are quite a few others like that who are just making token investments into bitcoin, and sometimes I wonder if some of those folks might be selling at a loss during times like this... I have not checked in with my relative since late November, so I am not really sure if she continued her previous regular DCA .. even through December, January and February... Sometimes I am afraid to check in because I am afraid of what she might tell me and it has to do with her seeming ongoing whimpiness.. but she did start around the same time as you.. probably around $50 per week or something like that.  Maybe you could have a little friendly competition with her?  hahahahahaha... see who does better?


For sure, your starting premise in OP has to do with cutting some of your expenses, and the fact that some of the expenses that you were cutting were likely NOT good for your health created another double benefit... but many of us know that there are likely a lot of ways that we can shave some of our expenses in order to be able to start some kind of investment into something else.. and surely, if we do not really have extra cash.. then it is likely that we have to make some kind of conscious effort to consider what we are able to cut in order to add our new investment into our regular weekly/monthly budget.

When I was quite young and first living on my own (moved out from my parents), I already figured that I needed to put 10% of my income aside and to save and invest with that 10%.. and so I started that kind of a practice quite early in life.. but I was not always successful in the ways that I ended up investing it.. and I felt like I was a bit of a ignorant person for my choices.. but for sure, there were not so many options that were available for relatively small investors..

and for sure, I can see why some currently young investors get attracted into shitcoins because they are options that are available that compete for attention that might otherwise go to bitcoin.. and so by the time that I got into bitcoin in late 2013, I had already established a pretty decent investment portfolio that I could just figure out a strategy to allocate into bitcoin, so I did not do the same kind of beginner levels of removing expenses.. because I had already been doing that for more than 25 years by the time that I got into bitcoin... but the removal and adjustment of expenses is a practice that any of us can do, especially if we might not want to change our investment practices in some other areas, and if we are wanting to add bitcoin to our investment portfolio..

 I understand that a lot of people (both young and old but probably particularly young folks) do not hardly have any other investments besides bitcoin and cash, so there only investments might be deciding whether to hold bitcoin or to hold cash.. but if they build the size of their overall savings, then they might want to try to have other assets too, such as property and equities but I have no problem if people first want to build their portfolio based on ONLY bitcoin and cash before diversifying into any other investments, and then once their bitcoin portfolio starts to get bigger, then they might want to consider other investments (not necessarily shitcoins) based on their own circumstances and comforts.