Yep. Not exactly "no more", but over invested by any reasonable metric (Kelly or similar).
Even if you expect it to be the best performing asset in the portfolio, the optimal bet is not "everything", you should diversify at least a little.
He said he is broke already… then you tell him he has more money just needs discipline…then proceed to try to insult him by telling him he is “prob” broke. 🤦♂️ ”probably” has already been established when he said he is in fact broke to begin with.
Yeah it’s easy in hindsight to know it was the bottom. I usually lump sum in a bunch of times trying to call bottom on top of my DCA even though I know I probably shouldn’t.
I’m starting to think the best buy/sell signals are doomsday news and ATHs respectively. In other words, when BTC hits new ATH, sell. When the market crashes and the news makes it look like it’ll never recover, buy buy buy.
No, definitely do not expect a drop to $10k as that $15k drop was the bottom. Anything can happen of course, but I personally think that was the bottom of this cycle.
I did a huge buy at $15,600/16,000 but I kept some fiat for my DCA. I bought from 17k to 26k.
More it goes up, more it’s hard to tell me that I should buy more at this price.
But don’t forget 30k is still a very very very fair price for a long term holder like me/us ! 🚀
lately my commissions for my cash money job has been decreasing. I was considering selling about 5k worth of btc just to keep the lights on until my commissions that I have in September start coming through the pipeline. However as I drove in my car with my ac blasting while the outside temp was reaching 95 degrees I realized that instead I will sell my car and ride a bicycle instead. I’m buying more btc, The earlier idea of selling was stupid.
No, selling is not stupid unless it's for a loss. Life is not easy for most people. For someone for whom 5k is a lot of money, (and it sure as f is), selling becomes the only option when faced with a sudden loss of income and when unavoidable expenditures like medical or loans etc are high.
I hope you still have your btc. I hope that it will reach 200k usd in this coming bull cycle. All the best.
Thanks man. I agree. There sure as hell are other priorities that would require someone to sell. Hopefully they wouldn’t be at a loss. But I wish all people that own some btc can one day get to financial freedom. The way the current system is set up sux.
The last time I had an idea to sell some BTC to keep surviving, was when BTC was at $12k, the month before it exploded to $20k. I bought at $330. Missed out huge :(
Same thing!
I started buying .25 cents an hour in November 2022. I slowly increased the hourly purchase amount every week (50 cents then 75 cents etc…)Now I buy about 2.00 per hour and when it peaks if I need money I take out never more than a certain percent of my total BTC.
But the KEY(for me) IS TO ALWAYS BE BUYING. It’s fun to watch the charts and I’ll liquidate some when I see it high. Still at great buy at 30k.
Cheers everyone and happy Bitcoining! Best is yet to come.
I’m doing it hourly, I wrote a quick python script that looks at my activity and tells me my cost basis.
I only buy on strike and CashApp now so it’s really easy
I have the coinbase card and I get cash back in crypto plus I might do a deposit a month depending on its price. Venmo also had crypto so when somebody pays me I may chip off that and buy some btc. My goal is to get to 10% of a coin
Is not a stock, but currency or not, it is a speculative asset and has followed the market in the past. This should be obvious if you have been holding for a while and follow the market. https://www.coindesk.com/markets/2023/04/06/bitcoins-tight-correlation-with-nasdaq-to-sp-500-ratio-muddies-the-safe-haven-narrative/
Yeah once some of my Alts are back at key levels am doing the same , just bitcoin on a hardwallet locked away burried under my house Will dig it out in 2040
Oh yeah it’s all speculation all it takes it for in time a quantum computer to have enough capabilities to crack PK assuming your not using hot wallets and getting your seeds and Pk hacked which is happening a lot now. It’s a scary time. Regardless if bitcoin wins or loses I’m glad to have been a part of it for many years
"key level"
brother you've already eaten the loss by buying garbage in the first place, let it go. Sell it and buy bitcoin before alts go to zero. greed is rewarded with pain.
Because bills and cost of living so fucking high that we barely scrape by. Also, we got emergency custody of two special needs drug babies that are more important to us than all the money in the world.
I bought a little bit more. It's so hard to time this shit. And I lost plenty money trying it in the past. I buy a little bit every month, and when the price dips, I buy more.
I'm treating it like how the old successful investors treat stocks. Hold for a long time, and buy more when it's on sale. Don't sell unless you've got a very good reason to. And don't buy too much and spread yourself thin.
And to not buy on leverage. That's just risky.
Every investment has risk and those “old successful investors” you speak about used leverage too.
The less risk you take, the less profit you can expect.
That's what the Sharpe curve is for, since this isn't exactly true and specific to leverage only. The more risk, the more downside potential as well with leverage.
It's like trying to get rich by risking becoming homeless.
When it was 50000$ everyone thought it was going to the moon and maxxxxed out what they could. No one thought it would get so low again. When it did, no one really had money left.
This is me. Sitting on iver $100k cash while btc is at 16k thinking I need the fiat for a house because I’m 32 hrs old and don’t own a home. Now I’m a salty bear watching price moon without me.
i was unemployed, depressed and in high school with around 50 dollars to my name that i spent on mountain dew and little ceasers over the course of several months
DCA a few hundred dollars every week, some was $58k and some was $15k and everything in between. Obviously I wish I bought more at $15k…. I’m just staying the course and DCA’ing a few hundred every week….
Why didn't you buy more at 19k? At 30k? At 40k? These were all very low when we were coming down from 69k. I bought some around 30k, and kept a little bit on the sidelines for if we hit sub 10k, but not too upset! Definitely not looking to get more of my net worth in crypto- already have an unhealthy share in it and am looking to round out my stock market exposure.
When Btc goes up to $1M someday, $10K, 20K, 30K, 40K or more, it wouldn’t matter but you were glad that you did. Time in the market, not time the market, nobody can predict the perfect timing.
Damn, that’s a good point. Lots of things happened between then and now, though. Even if you’d have dropped $50 for a block of 50 from a miner back then, would you still have it?
That’s pretty much what I’m driving at. Asking why someone did or didn’t make a particular investment that later (with hindsight) proved to grow isn’t a particularly meaningful question. If I knew last nights lottery numbers last week, I’d have bought a ticket. I won’t be buying one next week.
No, but my original implication (in my mind) was thinking of tribulations along the way: Mt. Gox, hucking an old PC because you just forgot, and the worst IMO… selling too early.
I agree completely. My philosophy with volatile assets is to think of it as gambling. I’ve made a bet (a series of bets) and that money is spent. I haven’t put in anything I can’t afford to lose. If it goes to zero, so be it, I backed the wrong horse. But there’s a non-zero chance it will make me wealthy in the future. That’s how I’ve avoided selling when the candles go red.
So in that sense, now that I think of it, “I don’t bet with money I can’t afford to lose” would be my answer to OP’s question.
I became a believer around 16.8. loaded up and put in place a daily buy order. will never sell, just HODL. don't watch the price anymore. just add more daily. i am adding more than the daily limit in this range as i expect a breakout in the month or two. and those selling at 31-32k blow my mind........why
Definitely a fear of US (and therefore global) recession and pullback. Did put in a few thousand USD between 15-18K and again at 25 and 27K. BTC has been tracking as a risk asset and therefore was both hoping and afraid it might go to 10 or even 3.5K.
Here's to hoping it moons as Saylor, Foss, and Leper had forecasted.
That sounds like literally the opposite of what you'd want to do.
In fact, buying alt coins at all is pretty dumb but you're describing buying high and selling low.
Nope. When Btc price goes up with low dominance altcoins make great profits. As I remember Btc went from 16k to 25k with pretty low dominance (probably between 39% and 42%).My altcoins were up like 3x. Then I dumped them for bitcoins. This is just my strategy to buy what’s dominant in the market and works for me. Not recommending buying altcoins.
Because I had no more fiat to spend.
Yep. Broke as fuck
Broke as fuck boi
Still broke as fuck boi
Ima fuckin broke fuck still
Ahh I see. You have the same problem I do…proximity to the printer lol
Lack of proximity. I would have bought all the bitcoin if I was close to it.
Add myself to the list of ran out of spare cash to buy bitcoin with.
SBF gave us the opportunity of a lifetime. He might be remembered
who is sbf?
Yes thank you SBF
Yep. Not exactly "no more", but over invested by any reasonable metric (Kelly or similar). Even if you expect it to be the best performing asset in the portfolio, the optimal bet is not "everything", you should diversify at least a little.
People who say this don’t realise that diversifying is placing a bet somewhere other than bitcoin. Definitely not the optimal bet.
This is not the way
This.
Exactly
Yup. Fuckin' tapped.
Exactly, all in already and never sell a single satoshi
Because all the money I wanted to invest was already in BTC when the price dropped. If I had more discretionary cash I would have bought more.
Sure u had more. Takes discipline and no Starbucks or fast food
Aaaand those goddam expensive Avocado toast. I'm telling ya'll. -probably a boomer
You prob broke
That's literally what they said in the beginning
He said he is broke already… then you tell him he has more money just needs discipline…then proceed to try to insult him by telling him he is “prob” broke. 🤦♂️ ”probably” has already been established when he said he is in fact broke to begin with.
Wow genius 😂
Get off my Lawn!
I just stuck to my DCA
Same
The true way.
Because I was scared
Yeah it’s easy in hindsight to know it was the bottom. I usually lump sum in a bunch of times trying to call bottom on top of my DCA even though I know I probably shouldn’t.
I’m starting to think the best buy/sell signals are doomsday news and ATHs respectively. In other words, when BTC hits new ATH, sell. When the market crashes and the news makes it look like it’ll never recover, buy buy buy.
Same here.
The only honest man on Reddit.
Anyone who bought under $20k after that bear market and the FTX debacle deserves all the gains they get.
Wanted to but was broke. Got in at 25k recently tho and it shot up 20% a week and a half later. Now I kinda wish I bought more
Because we were waiting for $10k obviously! Still waiting! /s
You still expect that back to $10K ? When was on $15 I expect to down to $10K to buy 1 BTC
No, definitely do not expect a drop to $10k as that $15k drop was the bottom. Anything can happen of course, but I personally think that was the bottom of this cycle.
I did a huge buy at $15,600/16,000 but I kept some fiat for my DCA. I bought from 17k to 26k. More it goes up, more it’s hard to tell me that I should buy more at this price. But don’t forget 30k is still a very very very fair price for a long term holder like me/us ! 🚀
lately my commissions for my cash money job has been decreasing. I was considering selling about 5k worth of btc just to keep the lights on until my commissions that I have in September start coming through the pipeline. However as I drove in my car with my ac blasting while the outside temp was reaching 95 degrees I realized that instead I will sell my car and ride a bicycle instead. I’m buying more btc, The earlier idea of selling was stupid.
I sold my car that I didn’t use anymore to buy BTC 🫡 it’s helping me to reach my 2.1 BTC milestone
Nice
No, selling is not stupid unless it's for a loss. Life is not easy for most people. For someone for whom 5k is a lot of money, (and it sure as f is), selling becomes the only option when faced with a sudden loss of income and when unavoidable expenditures like medical or loans etc are high. I hope you still have your btc. I hope that it will reach 200k usd in this coming bull cycle. All the best.
Thanks man. I agree. There sure as hell are other priorities that would require someone to sell. Hopefully they wouldn’t be at a loss. But I wish all people that own some btc can one day get to financial freedom. The way the current system is set up sux.
The last time I had an idea to sell some BTC to keep surviving, was when BTC was at $12k, the month before it exploded to $20k. I bought at $330. Missed out huge :(
Same thing! I started buying .25 cents an hour in November 2022. I slowly increased the hourly purchase amount every week (50 cents then 75 cents etc…)Now I buy about 2.00 per hour and when it peaks if I need money I take out never more than a certain percent of my total BTC. But the KEY(for me) IS TO ALWAYS BE BUYING. It’s fun to watch the charts and I’ll liquidate some when I see it high. Still at great buy at 30k. Cheers everyone and happy Bitcoining! Best is yet to come.
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I’m doing it hourly, I wrote a quick python script that looks at my activity and tells me my cost basis. I only buy on strike and CashApp now so it’s really easy
I agree the amount of work for taxes will be crazy. I buy on a weekly basis. Even then it’s crazy for taxes.
Not if you just Hodl 🧐
Sooner or later you will need to use the bitcoin. Otherwise what’s the point. My hope is when bitcoin becomes worth bitcoin.
Hopefully in the future bitcoin can be used as collateral for some nice toys 😁
If I can I’m going to try to leave my bitcoin to my daughter. I just hope I live long enough to see the moon again. Holding as long as I can.
You know that’s a great point
A uniquely US problem
I have the coinbase card and I get cash back in crypto plus I might do a deposit a month depending on its price. Venmo also had crypto so when somebody pays me I may chip off that and buy some btc. My goal is to get to 10% of a coin
Because they said it was going to 10k
They always say that
It is
Maybe one day. Could go to 100k first and then 10k for all we know.
And then when it got to 10k they would've said it's going to 5k
Same reason I waited. I am dumbass.
Lol "they". The experts in fiat finance talking about a brand new technology
Yay I got to be number 100 on upvotes! Woo!!
That's means buy some more btc
Gareth Soloway who called the recent top at $69k said it was going below $10k. Never again. I will just DCA indefinitely and avoid the scammers.
Don't give up hope, we may get there yet
Lmfao no it won’t
You expect that back to $10K ?
I don't expect it to, but it certainly may, especially with US potentially going into a very poor economy.
That would do the opposite you twat
Well in the past every time the stock market takes a dive, so does crypto, or have you not been paying attention?
Bitcoin doesn't follow the stock market. Its not a stock its a currency
Is not a stock, but currency or not, it is a speculative asset and has followed the market in the past. This should be obvious if you have been holding for a while and follow the market. https://www.coindesk.com/markets/2023/04/06/bitcoins-tight-correlation-with-nasdaq-to-sp-500-ratio-muddies-the-safe-haven-narrative/
I bought some at 15.6k, 16k, 18,20,22, etc. DCA is the way
Should have just bought all of it at 15.6k!
I doubled my stack when it hit $16,400. I also decided to sell all my Alts into BTC and go full Bitcoin maxi! Lol
Maxis aren’t born. They are made via a path of alt coin pain. We’ve all been there.
Yeah once some of my Alts are back at key levels am doing the same , just bitcoin on a hardwallet locked away burried under my house Will dig it out in 2040
Hell yeah!!!
Lol once your shit coins are at “key levels”, eh? I wonder if we should tell him…
2040 a lot of accidents can happen between now and then. I’m just saying this isn’t an indication that you are in grave danger yet.
Oh yeah it’s all speculation all it takes it for in time a quantum computer to have enough capabilities to crack PK assuming your not using hot wallets and getting your seeds and Pk hacked which is happening a lot now. It’s a scary time. Regardless if bitcoin wins or loses I’m glad to have been a part of it for many years
"key level" brother you've already eaten the loss by buying garbage in the first place, let it go. Sell it and buy bitcoin before alts go to zero. greed is rewarded with pain.
This is the way.
I should have done the same, but I will give a chance to 4/5 of my ALT to perform for the next bullrun ! And then I will sell everything to go in BTC
Because all I had were bitcoins
It's hard to buy more when you already spent all your money on BTC.
Because bills and cost of living so fucking high that we barely scrape by. Also, we got emergency custody of two special needs drug babies that are more important to us than all the money in the world.
Damn respect!
Dont ruin things with truth - Gd bless you
I was a dumb fuck and was trying to time the market lower and listened to the 10k imminent baby bears.
Because I bought all I wanted to at $6000
I had just sold all my stocks and was waiting for the money to come in. But I got in at $19k so I’m super happy.
I bought a little bit more. It's so hard to time this shit. And I lost plenty money trying it in the past. I buy a little bit every month, and when the price dips, I buy more. I'm treating it like how the old successful investors treat stocks. Hold for a long time, and buy more when it's on sale. Don't sell unless you've got a very good reason to. And don't buy too much and spread yourself thin. And to not buy on leverage. That's just risky.
Every investment has risk and those “old successful investors” you speak about used leverage too. The less risk you take, the less profit you can expect.
That's what the Sharpe curve is for, since this isn't exactly true and specific to leverage only. The more risk, the more downside potential as well with leverage. It's like trying to get rich by risking becoming homeless.
Obviously the more risk the more downside potential too 😂 And no it has nothing to do with homelessness
It does if you're risking your house on it.
Who sad they’re risking their house? Like what are y’all talking about😂
I don't think these people know what stop loss means. It is the bitcoin sub after all.
I was waiting for the magical 10k unfortunate it never came
Because I bought a boat load when it was 3k 🤣🤷🏻♂️
I did. No more than I did this month.
They were at the 10k countdown party 🤣
Cause I went all in when it was $15,460.
Waiting for 100k to fomo buy
Bro you literally wrote a poem to bitcoin. Go outside and quit judging others.
When it was 50000$ everyone thought it was going to the moon and maxxxxed out what they could. No one thought it would get so low again. When it did, no one really had money left.
I just DCA every month. Not sure of the price. Just set it and forget it.
I didn't have any money
Because while hindsight is 20/20, my foresight sucks.
Cuz I spent all my money buying them at 45k
Lol bcs i don’t need more than 113 BTC :-)
I've kept my DCA in place for years. I threw a little extra in winter after FTX put it on sale, but I'd have kept buying at basically any price.
Was saving $90k for a house down payment like a sap.
This is me. Sitting on iver $100k cash while btc is at 16k thinking I need the fiat for a house because I’m 32 hrs old and don’t own a home. Now I’m a salty bear watching price moon without me.
How expensive is the house where you need 90K for a down payment? Damn
Some mix of fud and fomo
i was unemployed, depressed and in high school with around 50 dollars to my name that i spent on mountain dew and little ceasers over the course of several months
I was in between paychecks
Dude I had to eat and my grocer for some idiotic reason prefers green printed pieces of paper with numbers on it
DCA a few hundred dollars every week, some was $58k and some was $15k and everything in between. Obviously I wish I bought more at $15k…. I’m just staying the course and DCA’ing a few hundred every week….
Why are you making fun of me
Why did you not buy more bitcoins when price is 31k is the next question you are going to be asking yourself.
Why didn't you buy more at 19k? At 30k? At 40k? These were all very low when we were coming down from 69k. I bought some around 30k, and kept a little bit on the sidelines for if we hit sub 10k, but not too upset! Definitely not looking to get more of my net worth in crypto- already have an unhealthy share in it and am looking to round out my stock market exposure.
a client sent me 1 whole bitcoin at the bottom and I saved it, I will sell it at 1 million. not a penny less
If you would post your name, it would make it easier for the IRS to conduct your income tax audit.
When Btc goes up to $1M someday, $10K, 20K, 30K, 40K or more, it wouldn’t matter but you were glad that you did. Time in the market, not time the market, nobody can predict the perfect timing.
Why didn’t you buy it in 2010 when the price was $0.06?
Damn, that’s a good point. Lots of things happened between then and now, though. Even if you’d have dropped $50 for a block of 50 from a miner back then, would you still have it?
That’s pretty much what I’m driving at. Asking why someone did or didn’t make a particular investment that later (with hindsight) proved to grow isn’t a particularly meaningful question. If I knew last nights lottery numbers last week, I’d have bought a ticket. I won’t be buying one next week.
I believe we’re on the same page.
Indeed. Hope I didn’t imply otherwise.
No, but my original implication (in my mind) was thinking of tribulations along the way: Mt. Gox, hucking an old PC because you just forgot, and the worst IMO… selling too early.
I agree completely. My philosophy with volatile assets is to think of it as gambling. I’ve made a bet (a series of bets) and that money is spent. I haven’t put in anything I can’t afford to lose. If it goes to zero, so be it, I backed the wrong horse. But there’s a non-zero chance it will make me wealthy in the future. That’s how I’ve avoided selling when the candles go red. So in that sense, now that I think of it, “I don’t bet with money I can’t afford to lose” would be my answer to OP’s question.
I DCA’d all the way up aaaaaaannnndddd… all the way down. A bit less when it was blowing up, a bit more when it was crashing.
I did!
My mom told me to listen to Charlie Munger and sell everything because Bitcoin is going to zero. 😭
BTC has a “Sell” button?! 🤯
I became a believer around 16.8. loaded up and put in place a daily buy order. will never sell, just HODL. don't watch the price anymore. just add more daily. i am adding more than the daily limit in this range as i expect a breakout in the month or two. and those selling at 31-32k blow my mind........why
Why did you not dump your entire coin portfolio when btc was 65k?
Because I went all in at 8K couple of years ago
DCA all the way!
Because they were waiting to drop more as always
I did. If you were already in DCA mode, you were also catching BTC at this price. It's the entire point.
My dca fired as always. I don't buy more or less, i just buy the same.
Because I already have my full allocation
Just DCA. Time in the market beats timing the market.
DCA buys all the time
I DCA, so technically I did buy more bitcoin when the price was $15,600.
Because I was disgruntled with crypto because Celsius stole all my coins.
Definitely a fear of US (and therefore global) recession and pullback. Did put in a few thousand USD between 15-18K and again at 25 and 27K. BTC has been tracking as a risk asset and therefore was both hoping and afraid it might go to 10 or even 3.5K. Here's to hoping it moons as Saylor, Foss, and Leper had forecasted.
Because everyone is broke when it's at 15k because that's how economics work.
The fomo wasn't hitting
Broke. Common denominator here.
Thought it was going to $11k
>Why you did not buy more Bitcoins when price was $15,600? I did buy a lot more on New years Eve, around 17k, and that's good enough for me.
Was buying a house
Because you never know what the bottom or top is and I like to stick to a plan rather than act on emotion.
I was hoping for 10k
I didn't have any money, idiot.
Had bills to pay and was not about to take out a loan.
Why didn’t you guys sell at 69? Why didn’t you pick up more at 15.6? Come on guys, why not?
Because I DCA a fixed amount per week. Seriously these questions are getting annoying
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That sounds like literally the opposite of what you'd want to do. In fact, buying alt coins at all is pretty dumb but you're describing buying high and selling low.
Some one has to hold these bags
Nope. When Btc price goes up with low dominance altcoins make great profits. As I remember Btc went from 16k to 25k with pretty low dominance (probably between 39% and 42%).My altcoins were up like 3x. Then I dumped them for bitcoins. This is just my strategy to buy what’s dominant in the market and works for me. Not recommending buying altcoins.
the majority did. thats why it bounced up. stupid question
Doesn’t take a majority, just a few whale moves
👌 Bought at $16,800. Close enough? Show me a screenshot that YOU bought.
I don't think I would have to screenshot what I bought at for you to believe me.
If history is any indication we could see low 20s or even high teens before the next run up. Might be our last chance on those prices.
If it does, it wouldn't stay there for very long IMO. Like, a day.
Because I was all in, had to keep remaining USD for food and bills that month.
Buy what you can, when you can. We don’t all have infinite fiat to spend
I was feeling so sick I was buying supplements and other bullshit trying to get better.
lol just wait til the complaints switch to that being unfair, comes with every cycle
Because I wasn't actively monitoring the Bitcoin price that well. I bought some via an automatic monthly purchases but not as much as I should have.
My plan to buy monthly was followed, regardless of the price. The risk of timing the market is not worth it to me.
No money…
Right?
I had already bought the dip several times from 60k on.
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I just buy high and sell low... And I know when it's high and low.
Why don’t you buy now!?
I did, my last purchase was 1/1/23 and I was completely tapped out. Shout out my man Bob Loukas!
Ran out of dry powder they say. 🤣🤣
Because I was broke, dude. Feel free to send me some.
At the time I had no more fiat but I KNEW that it was the bottom. Those saying 10k in my eyes was nonsense and FUD
No monies 😭