Yesterday I was talking with @resiliencia and he exposed me the idea of starting to make 'Dollar Cost Averaging' purchases (to 'DCA') again into Bitcoin.
Concretely about making somewhere between 50-150$ weekly purchases into a 'Hodling wallet' and don't touch it for any reason related to 'look at this shitcoin' or 'want a PS5 for Christmas?'.
Aiming for the 1 BTC dream mark or something. Well, it's a bit far, but we'll try anyway :)
We both feel enthusiastic about the idea (because I personally I'm 100% into alts and I feel bored about BTC pretty fast most of the time) and from their side because he probably needs a bit of extra motivation to not sell after a few weeks (something that happens to everyone from time to time tbh, you need the money for whatever reason 'mUh yIeLd FaRmInG sIr' and you end touching your precious BTC holdings).
The Perfect time is NOW!
I mean, what about an ATH of Bitcoin after roughly ~3 years to consider a challenge like this one? You probably heard about the typical 'But you got lucky to be in this early!'
What if I told you that I went in exactly at the 'worst' price point? (at least from nocoiner eyes). That would be an awesome experience and an even better experience to document.
How exactly would it look my BTC stash after exactly 1 year? What if we reach 100K$/BTC in a year? What if it's more? Or less (how much less?). Just for reference, this is how it would like our 'hodling wallet' if we managed to purchase 100$ worth of BTC weekly, starting December 1, 2019:
Wouldn't be nice to sit on a ~10K$ stash for only ~5,3K$ invested (86,69% profit)? Of course, the market from 1 year ago Vs the market of today is 'slightly different', but you just 'can't know' in advance (and this exactly is one of the best things about the experiment).
Have you ever asked yourself: ''What if it had started to accumulate bitcoin earlier?'' In a few years we'll be looking at the 20K$ highs like this:
Using Celsius to optimize (even more!) the returns.
Just because I'm a bit addicted to compound profits, I asked @resiliencia if he would be 'Ok' about accumulating in a centralized app like Celsius/Nexo/CDC. Decided to go with Celsius as I already had an account here.
Celsius (ref link inside) is one of those apps with the slogan 'unbank yourself' focused on giving loans with crypto as collateral.
You can basically get up to ~4% APY just for holding BTC with them, which maybe doesn't seem a lot*, but slowly adds up (not worth if you're holding big amounts, I would prefer the security of a cold wallet tbh).
I thought about accumulating like 1000-2000$ before moving to cold wallet and treat the APY's like a bonus, but given that we have weeks/months before accumulating that amount, we have time to decide.
This is how my account stands today.
I already added the first 0,0125 BTC as my starting balance and I'll do my best to add 50-150$ weekly as I stated before. I had 1,08 CEL there from ages ago (which I'll gladly compound).
I'll be receiving the APY in CEL to avoid distorting the BTC balance. And I'll do my best to report weekly my progress (usually with a BTC analysis + report of the last purchase).
Of course, I reserve the right of cancelling this challenge for whatever reason I want, but you're free to HODL and accumulate with me.
Happy Bitcoin ATH! What a great day to start such a challenge!
You can follow me on Twitter.
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Using Hive blockchain itself is Dollar Cost Averaging! There's post rewards with Hive, HBD, LEO etc. There's curation and there's rewards for just HODLing SP. I could say the same about my investing into @splinterlands @risingstargame @dcitygame where I slowly put in my crypto earnings to it over time.
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That's true, but HIVE and LEO still need to prove themselves and the only way is staying around for years.
I would never recommend HIVE/LEO to anyone who asks me 'in what I should invest?' because most people can't handle the price swings... not only that. You need to be aware of token swaps, hacks, dramas... not healthy from a 'passive investing' mindset.
But if you want to publish your content and work on it as a hobby... that's another story :)
I agree there is a massive learning curve for anyone who wants to have passive income with Hive, LEO etc. For those who are more active Hive and specially LeoFinance.io can be a great resource to learn more about crypto and even follow news. Microblogging is going to make this even better.
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I have seen you talk before that you are sort of alts maxi... I really cant tell whats right/wrong in this case and I think its probably not a good way to look at it from the right/wrong perspective.
Having some BTC and ETH is probably like the most obvious when you are in crypto. Although I didn't had BTC for a long time myself, but always had some ETH. So I understand you a bit :)
Good luck!
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As you said, yes, I'm an 'alts maxi' :)
And also as you said, there's not a right answer, the solution IMHO is a combination of both, in my case I hold btc when 'I don't know what to hold'. BTC/ETH in your portfolio is always a secure bet.
Bitcoin isn't a 'speculation' movement anymore, I personally prefer to save in BTC/ETH rather than €.
Hope you're doing great Dalz.
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I've been the same way. An Alts maxi. Sooner or later I'll have to have BTC. It'll probably cost me. But with any luck, one of those Alts will skyrocket and make it not hurt quite as much.
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Make Bitcoin with alts, then hodl Bitcon forever. I like that plan :)
Hey buddy!
I like we are in this challenge together, this will put more pressure to be consistent and don't give up.
The best part is that we both are sure that this is a profitable strategy.
This year will end in just a few weeks and we will already have a bunch of sats to compound!
Cheers! :D
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At first will be a bit tough. But if we manage to accumulate a decent amount the next 2-3 months the rest of the year could be nuts.
I have been doing 150 a month for a few years now, I am sitting happy on BTC but the "wish I had done more" is there like with most
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If I count all my fiat purchases I'm more or less in that range. Keep the accumulation bud :)
Nice! It will be interesting to follow this experiment!
I often think about how amazing it would have been if I got into crypto earlier but then again - I'm still considering myself early because most of the world is still asleep to what cryptos are offering.
Peace!
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You'll be able to show them my post and how I made rich myself investing at 'the top'
It makes sense. Although it is not easy to buy during the pump and hold on to it with the possibility that it would dump again.
I am dollar cost averaging BTC and ETH and putting the sum on Celsius. Let's see where I will be in a year.
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I mean if not for the motivation to sell when it's high and buy at the lows then where's the fun in Bitcoin? CEL seems pretty good, the joy of tweaking your investment to even broaden your chances to earn. It's the first time I'm seeing it. I'll take a close look
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The motivation IMHO is to disrupt the old, corrupted, abusive and shitty financial system that our also corrupted schools taught to trust.
Check Celsius, it's a legit project, but don't hold big amounts there. Not your keys not your coins and all that stuff :)
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Of course I just want to try it out little nothing much or too significant, thanks a lot.
you're welcome :)
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I've done this monthly for a while - bought some crypto - but I'm like you, mostly into the alts - but I am now doing exactly the same, but that's more like $!00 a month rather than a week.
BTC to save, Hive to use.
Here's a challenge for you - write a post telling us about 5 coins you can 'do' more with than Hive, other than just staking for a return.
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I already shilled some of those, yay, challenge accepted!
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i've seen you posting about a few alts, a nice summary list would be great!
It just came up in a Discord chat the other day!
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Oh seriously?! I should be using discord a bit more. I'm more of a telegram guy...
Leo discord or where?
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Oh - just a little private chat group!
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I also started this a bit recently, I bought my first at 15k, though just a tiny worth, I plan to keep building it over time, but I'm not certain about the frequency, my long term goal is to build till 1btc.
So goodluck to your journey to 1 btc.
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Bought my first Bitcoin at 250$. Imagine if I had held on. Better late than never they say :)
It will be super great I mean one day to see and witness bitcoin hitting $100k one day but most time also I wonder can it really hit that figure in a year
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4%Apy is not such a good return if cel at normsl price. The price of cell will give more profit of btc stakers when it suddenly pump. That what more people invest in and stake their assets in yield finance or similar like that. What do you think if cell price jump to 100 % . That is the art of investing in crypto. You ma be lost but you can get high profit too
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Keep this things coming :)
I'm starting to like the Binance Smart Chaim more and more!
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Somehow this comment ended up here :)
Its for your latest post.
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Why chosen Celsius? is the APY on celsius is good from the rest of other options?
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Why chosen Celsius? is the APY on celsius is good from the rest of other options?
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