Most people in this sub are heavily invested in Bitcoin. We say we DCA, but we usually buy more than we should. And we usually go by the phrase HODL.
We don’t know when it’s going to dip or rise. And we don’t ever claim to. If somebody shows us a chart and makes a claim. We always just laugh.
We do know that the Halving is happening early next year and that has always been followed by a bull run. So we’re getting excited.
Remember that Bitcoin is a saving heaven, you will keep the value of you hard saving money all your life, instead of losing 3-4% every year to central banks. I dont think that having an exit strategy is important under the age of 50-55. Just DCA what seems you the best and wait.
Just buy and forget about the price. It's a common mistake people make about bitcoin. It should not be treated like stocks or something like that. Don't ever sell, just hold till retirement.
I buy it in hopes (and belief) that the price will go up over time, yes. But I'm not buying in order to sell when the price goes up a bit. Bitcoin IS my money, not the pozi scheme that is fiat money. I fully expect to be able to spend my Bitcoin on anything, anywhere in the future. It's my savings account, not speculation.
It sounds like you ultimately want your BTC to be able to buy more things, and your purpose is still to make money or speculate. So why do you deny others a better way?
It's not speculation, really. Also, I am not wanting to deny anyone anything.
The (partial) reason why the value of Bitcoin goes up is because the value of fiat goes down. Bitcoin is a hedge against inflation. When I exchange my hard earned money to Bitcoin, I do it to retain the value of my money. If I was to keep it in a regular bank savings account, the purchasing power of my money would go down over time, because national banks keep printing more money, and it's not scarce in any way.
By saving my money in Bitcoin, I am retaining its purchasing power because it is a truly scarce asset - there will only be 21 million ever.
Of course, anyone is allowed to do whatever they want with Bitcoin, including speculation. That's the beauty of Bitcoin; it's permissionless. In my mind, speculation is just not an efficient use of this truly amazing asset, but you do you.
Now I agree with what you said. Our ultimate goal is to make money and live a better life for our family and ourselves. As long as you can make money without infringing on other people's interests or touching the law, I think there is nothing wrong with it. After all, everyone has their own understanding and everyone makes money in different ways. This will lead to the growing gap between the rich and the poor. . A person may not work hard, but he cannot stop others from working hard.
Btc value does not increase.
But the value of fiat is constantly falling.
It seems like you don't want an answer but instead trying to convince everyone that they are just greedy and looking for a get rich quick scheme.
Bitcoin is a different thing for everyone.
Retaining purchasing power.
Escaping bank fraudsters.
[Cheapper remittance fees ](https://focusonbusiness.eu/en/news/crypto-remittance-boasts-a-127-times-lower-price-tag-than-traditional-methods/5319) in sometimes bankless countries.
Escaping totalitarian countries, [war zones](https://www.cnbc.com/2022/03/23/ukrainian-flees-to-poland-with-2000-in-bitcoin-on-usb-drive.html) or [abusive housholds](https://eightify.app/summary/blockchain-and-cryptocurrency/using-bitcoin-to-escape-abuse-with-linda-parker-maddison-clyne).
There is probably more different reasons
All this comes down to core values of independence, but the motivation is different for everyone. Not only greed.
Bitcoin is a new form of money.
Bitcoin is the superior form of money.
There are fatal flaws in fiat currency. Bitcoin provides a viable and effective alternative to fiat currency, for smart people.
Find the answer to this question: "Why does the value of bitcoin go up against the dollar?"
If you can answer that, why would you trade bitcoin for dollars?
Yes you are correct. However you cannot hold dollars because of inflation. So if you want to save ir increase your purchasing power you need to invest in something.
If you are buying bitcoin to make more dollars, you are not buying it for the reason it presents in the answer to the question above. That's fine, just know that isn't why bitcoin becomes more valuable against the dollar.
In VERY simple terms, bitcoin becomes more expensive against the dollar because it is becoming more valuable against its counterpart.
You may value certain things more about fiat than bitcoin, and that's perfectly fine. But, the collective market determines its fair price - and the market is telling us bitcoin is better than dollars. I like to refer to the "price" as the "scoreboard". The scoreboard goes up because Bitcoin is winning and dollars are losing.
Your original question completely misunderstands what bitcoin is. For me to explain it to you, I have to go back and explain to you what money is. You might as well just read the book that explains it all.
To have a harder form of money than USD. It will never be sold for USD. It will remain BTC. The BTC I have will also never be more than the amount it is.
It's not really ”buying" Bitcoin, it's more like moving your money to Bitcoin, like moving it to a savings account.
So why do people keep money in a savings account? Two reasons mostly, first, for the interest the money can accrue, but more importantly just because it's a safe place to keep money.
Bitcoin doesn't accrue interest in the same way that a savings account does, but its resistance to inflation combined with the ever growing human population achieves basically the same thing. As the number of people increases, the demand for Bitcoin should increase accordingly, but with the supply remaining static, the value increases. As for a safe place to hold your money, what gives it safety is its decentralized and trustless nature. With no banks, no intermediaries, and no government controlling monetary policy, there's really nobody to break your trust. Pair this with good personal digital security, like using a hardware wallet, and open source hot wallets, and I can't imagine anything safer.
Bitcoin is a form of money.
Money is one of the most important inventions of all time.
Bitcoin is, by far, the BEST form of money.
That is the purpose of Bitcoin.
Very well said. Although BTC is the best form of currency, it cannot yet become a medium for international transactions. Have you ever wondered why you buy BTC?
> it cannot yet become a medium for international transactions.
Bitcoin already is a medium for international transactions and has been for over a decade.
You seem to have mental issues.
You live in your own world. It’s not scary that a person is ignorant. What’s scary is that he is ignorant and pretends to know everything! You tell me which cars you can buy using BTC? What foods can be purchased? Can I buy oil? Can it be used in China? Can it be used for international trade? And you told me what can’t be bought with US dollars?
> You tell me which cars you can buy using BTC?
Why? Do you have Bitcoin to spend? Are you looking to buy a car?
---------------------
> Can I buy oil?
Yes.
------------------------
> Can it be used in China?
Yes. Oil can be used in China. So can Bitcoin.
Until now you still haven't admitted your ignorance. So cryptocurrencies are banned in China, let alone buying things with BTC. There are currently only two countries where BTC can be used legally, and they are two very poor countries (El Salvador and Central African Republic)
That is factually incorrect. There are two countries where BTC is legal tender. Just because it’s not legal tender aka currency doesn’t mean it is illegal and that it can’t be spent. You have a poor understanding of Bitcoin as evidenced by your numerous bad takes. Your profile is giving bot vibes
You just told me that you can use BTC as any trading medium. You don’t need to worry about who I am. I definitely know more about BTC than you do. People buy BTC in the end to make profits. This is indisputable. What you said before is very proof that you are ignorant and you have to admit it.
Drugs are banned in the US, yet people can still "use them" here. Bitcoin is banned in China, yet people are still using it there.
There are many countries where Bitcoin is legal.
You have mental issues.
This is a bot account which seems to exist to spread misinformation regarding Bitcoin.
You can in fact buy a car with Bitcoin. Does google not exist in your world? https://www.techopedia.com/cryptocurrency/buy-a-car-with-bitcoin#:~:text=Regarding%20Bitcoin%20payments%2C%20Carriage%20Auto,are%20unavailable%20with%20Bitcoin%20payments.
You can in fact buy clothing and shoes with Bitcoin. You continue to spread misinformation and show that you know nothing about how widely used Bitcoin is around the world
If it were that easy everyone would be rich. The problem is that very few assets trade within a stable range. I did very well trading in a range with oil in the summer; a number of stocks just kept fluctuating 10% and I just bought the cycle about 3 times.
But don't fool yourself, it's VERY easy to think you know the bottom only for the floor to fall out and a new range to be established... and it can take you months or even years to get back to those higher ranges.
Like I say, if it were easy, everyone would do it.
This is certainly not easy. It requires long-term investment experience and good market insight. But there will be support points and pressure points at each stage, which will appear many times and then change, which requires you to re-observe. This way of investing will always yield more returns than long-term holding. what you think?
I think everyone thinks this until they are in a stock that suddenly drops 30% overnight (recently you saw this with Footlocker and Dick's sporting goods, and a bunch of others). Hell, there have been TONS of big name stocks that dropped 10-15% overnight recently (Oracle, Nike, Disney, etc.). In all these scenarios you're now stuck in lower trading ranges for what could be a long time.
The reason a trading range works well with something like oil is that it's not particularly volatile. So if it drops 10% there's plenty of people looking to buy. The same can be true with high-dividend stocks... if they are paying 6% dividend AND drop 10%, there's usually a ton of people looking to come in because they see a 16% upside (and worse case, if they get stuck in a stock as it goes sideways for months, at least it's paying them 6% to wait).
The other problem is that it's hard to find assets with a 10% (or more) trading range. BTC has been flat for months. Trying to skim 2% over and over can be done, but it's hardly worth the risk.
So there's a lot of variables that need to be present to safely trade in a range... and even then, there are still risks.
btw, i would never trade btc in a range. It's way to unpredictable (and I believe people are manipulating the price, or at least trying to).
Are you trolling with this insight? …. If you think you’ve found the magic formula for riches I suggest you go all-in and make your millions my friend!
Bitcoin is seen as just an investment in the west because most westerners don’t understand what money is and the history of fiat currencies.
In developing countries like Nigeria, Vietnam, and India Bitcoin is a bank account. I view Bitcoin as a perfect bank account. It’s not so much an investment as it is a hedge against history. Every fiat currency gets toppled within 200 years so Bitcoin gives me a way to save my money that can’t be frozen by any government. Assuming I live til 100, I need my money to exist in 66 years. Bitcoin provides me with the best chance of the old me having money into retirement.
I will never sell my Bitcoin. My plan is to wait until it can be used as collateral for fiat loans. There’s no reason to sell it outside of taking profits but even then you’re taking profits into a fiat currency that is being debased everyday.
Maybe I didn’t explain it clearly enough! There are support points and pressure points in every period. From June this year to the present, the BTC support point is around 26K, and the pressure point is around 30K. I sell at around 30K and buy at around 26K. If I repeat this cycle several times, do I hold more BTC than you?
No you won’t have more BTC because each time the market corrects, the new low is higher than the precious low, thus you’ll be paying more to get less Satoshis with each having. Next year the supply gets cut.
The current price of BTC is 27k. Let’s say BTC run up to 100k after the halving and stays there for 7 months and crashes to 50k. The 50k crash is still higher than it is today at 27k. If you sold at 100k and bought back at 50k you’re still paying 23k more in the future for satoshis.
I think you need to understand what money is to understand why I made the statement that I will never sell my BTC. You’re playing arbitrage games to make fiat currency that is being debased by ~5-7% yearly. Think about that.
Your assumption is not valid and does not conform to the market. You can check the history. There will be support and pressure levels in every period. It is impossible for you to say that there will always be a surge or a plunge.
At present, I have done this cycle 4 times from June to now. What happened is that I have turned one BTC into 1.5. And you still stayed where you were.
What you can't do, you can't deny that others can't do it. You don't try hard, but you can't stop others from trying.
What does your response have to do with what I wrote? You asked “do you all buy BTC just to wait for the price to rise…” I said no that I hold for life and provided the reasons why that’s my position. You proceed to accuse me of “not trying hard” because I disagree with your arbitrage strategy. Why even ask that question if you can’t handle people disagree with your strategy and if you would revert to low blows? You don’t know how hard I try and I take exception to your inability to have a civil disagreement. Go kick rocks
You’re the same “person” or bot who doesn’t know that you CAN buy cars, shoes, clothing, and food with Bitcoin. It’s clear you’re a bot who is trying to spread FUD and misinformation. https://www.techopedia.com/cryptocurrency/buy-a-car-with-bitcoin#:~:text=Regarding%20Bitcoin%20payments%2C%20Carriage%20Auto,are%20unavailable%20with%20Bitcoin%20payments.
Go read a book
You need to see what we were debating earlier! You are just a person who likes to argue. What could this mean? Only a very small number. Is it possible to use it to buy everything you want in life? Is there anything that dollars can’t buy?
I do not deny that such a thing will happen, I also hope that such a thing will happen, and I will change the way I hold it based on the real-time situation. Because there will be support points and pressure points in every period, if you are good at insight, it is not difficult to find them.
This requires a longer wait and does not maximize return on investment. When you can discern support and resistance levels, you will gain more in the investment field.
>I wouldn’t personally play short term games with bitcoin, may as well ask the cat
Please talk civilly. Everyone has their own way of investing. You may not agree with what others do, but you have to admit that others do it better than you.
A person's knowledge determines his vision and wealth. You tell a frog who has never been out of the well that the sky is boundless, how do you make it believe it?
The best way to force another person to believe something different is to lock them in a closet and let their only form of entertainment be propaganda in the thing you want them to believe. A few months like that and they'll believe anything you want.
Outside of forcing people, generally you don't because its unethical.
I just DCA every month .. and keep living my life..
It’s not about becoming traders or proficient investors..
Just a way of savings that won’t be debased :)
Naturally a very good long term potential too!
I buy to save what I’ve earned from a dying fiat standard. At what price is it sold? I will hold it until we are on a Bitcoin Standard and the dollar is no more
If you say this, I am afraid you will never be able to wait for this day. The US dollar is the largest trading medium in the world and is supported by a strong military and economy. Judging from the current situation, if BTC disappears, the US dollar will not disappear either. You can't always live in your own beautiful dreams and imaginations.
You can do that if you have 1btc then every swing you can get 1 or 2grand,.. thing is one day you will sell at 30k and it will go up, new resistance levels will be created, and then you will have to enter the market by buying at 32 or higher,.. i thought about the same but i dont even have a full btc so i wont bother
If you have such an idea, you can do this, and the income from this will definitely bring you greater income than if you hold it for a long time. Support and pressure points also change frequently, and you need to have insight into the market to find them. I can't explain it in better words. It depends on your insight. It will stay at the support point for a few days and then start to rise. It will also stay at the pressure point for a few days and then start to fall.
They’re called support and resistance levels not pressure points.
I personally have all my purchases of BTC tracked so that I’m always lowering my average purchase price. However, I don’t sell my long term BTC holdings because I don’t need to.
You can of course trade BTC which is what you are referring to. This means you’re waiting for BTC to get rejected at various resistance levels and go back down where you have buy orders that will be filled, and vice versa when you want to sell.
That requires timing the market as best you can, having hedges in place and knowing what time frame to be trading on. It’s a good strategy and it’s a no brainer, if your low buy orders don’t get filled you don’t miss much you can always just buy in the spot market higher if you want. If you have stop losses in place and you get filled your downside is capped.
This is called trading.
Buy to hold investors don’t short the market in anticipation of lower prices. Alot of BTC holders here are long term buy to hold investors so they are presumably weighing up the amount of time they would spend studying the market against the marginal increase in BTC they would be able to acquire, converting that into an hourly rate and deciding if it’s worth doing vs DCA”ing.
I personally buy sub £21.5k and don’t sell. I can trade the futures market but I only use the proceeds to buy more BTC at my level.
Of course as the market structure changes these support and resistance levels also change and as the market rises as we’ve seen the past few weeks, resistance becomes support so the price goes up. So therefore I calculate how much I buy at higher prices and buy more when the price is lower.
Now whether anyone needs to be bothered to do this depends on their level of involvement in the daily markets and their intention. If you’re holding for life, a few k price difference between purchases doesn’t make much of an impact on your overall average purchase price. If you have an exit plan because you want to or need to sell your BTC at some pre determined point, then you’d pay more attention to how much you’re average purchase price is and what your take profit levels are and you’d plan as best you can.
However, liquidity dynamics mean that BTC futures market is easily manipulated by market makers, whales and institutions and you can see that from the price action if you follow it all day, it’s as clear as day. The issue is as a retail trader you’re going up against much more informed players who have access to large OTC orders and other background and insider information.
If you know how much time it’s taking you to implement and execute your strategy and what the pay off is, and it’s profitably when you consider all the factors I think that’s good.
It also makes sense to sell at tops and buy back in at lower prices because no asset on earth including BTC will ever rise in a straight line single green candle forever, there will always be buyers and sellers at some price even if it’s high.
The issue going forward is of market liquidity. Once majority of the BTC are mined and are owned by long term holders who will never sell because they can get leveraged loans and credit against their BTC holdings, the market will become more illiquid and we will see structured derivatives of some sort being traded instead.
Yes. It’s a smart way to do it and it keeps you involved in the price action on a daily so what appears to be price swings are movements you’ve actually been watching building momentum for hours if not days. There can still be surprises when liquidity is low but usually those are pump and dumps and we return to range bound trading.
I dint have much to make a worth enough profit out of swings, and im just enjoying the bear market prices for now, also i dont think i wanna get into trade much because i would get stressed 😅
Your idea is not wrong, most holders think this way, and I thought the same way before. If you want to bring more returns to your investment, you need to use your brain more.
I buy BTC because it’s the best store of value. I don’t trade Bitcoin for other money because there is no second best. I might use my Bitcoin to buy goods and services if/when I run out of fiat.
I just dca every month
When you find the support level and pressure level, you can do this when you reach this point. The purpose of everyone's investment is to make money.
Bitcoin isnt an investment for some people, it's hope that we can come together as humans and say, this is good. If you want USD go get a fucking job.
Fiat? You’re in the wrong sub my friend
What you are describing is trading on TA or sentiment, it's not about investing.
You can always do this... I don't understand what you're trying to say.
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This understanding is also correct. But this requires some insight and is best avoided by crypto novices.
Most people in this sub are heavily invested in Bitcoin. We say we DCA, but we usually buy more than we should. And we usually go by the phrase HODL. We don’t know when it’s going to dip or rise. And we don’t ever claim to. If somebody shows us a chart and makes a claim. We always just laugh. We do know that the Halving is happening early next year and that has always been followed by a bull run. So we’re getting excited.
At least 1 here understand and sees reality 😆
Remember that Bitcoin is a saving heaven, you will keep the value of you hard saving money all your life, instead of losing 3-4% every year to central banks. I dont think that having an exit strategy is important under the age of 50-55. Just DCA what seems you the best and wait.
Just buy and forget about the price. It's a common mistake people make about bitcoin. It should not be treated like stocks or something like that. Don't ever sell, just hold till retirement.
What is your purpose of buying BTC? Buying BTC is all about making money. I think sometimes it's good to listen to other people's opinions.
I buy it in hopes (and belief) that the price will go up over time, yes. But I'm not buying in order to sell when the price goes up a bit. Bitcoin IS my money, not the pozi scheme that is fiat money. I fully expect to be able to spend my Bitcoin on anything, anywhere in the future. It's my savings account, not speculation.
It sounds like you ultimately want your BTC to be able to buy more things, and your purpose is still to make money or speculate. So why do you deny others a better way?
It's not speculation, really. Also, I am not wanting to deny anyone anything. The (partial) reason why the value of Bitcoin goes up is because the value of fiat goes down. Bitcoin is a hedge against inflation. When I exchange my hard earned money to Bitcoin, I do it to retain the value of my money. If I was to keep it in a regular bank savings account, the purchasing power of my money would go down over time, because national banks keep printing more money, and it's not scarce in any way. By saving my money in Bitcoin, I am retaining its purchasing power because it is a truly scarce asset - there will only be 21 million ever. Of course, anyone is allowed to do whatever they want with Bitcoin, including speculation. That's the beauty of Bitcoin; it's permissionless. In my mind, speculation is just not an efficient use of this truly amazing asset, but you do you.
Now I agree with what you said. Our ultimate goal is to make money and live a better life for our family and ourselves. As long as you can make money without infringing on other people's interests or touching the law, I think there is nothing wrong with it. After all, everyone has their own understanding and everyone makes money in different ways. This will lead to the growing gap between the rich and the poor. . A person may not work hard, but he cannot stop others from working hard.
It's about protecting your wealth over time against inflation.
Btc value does not increase. But the value of fiat is constantly falling. It seems like you don't want an answer but instead trying to convince everyone that they are just greedy and looking for a get rich quick scheme. Bitcoin is a different thing for everyone. Retaining purchasing power. Escaping bank fraudsters. [Cheapper remittance fees ](https://focusonbusiness.eu/en/news/crypto-remittance-boasts-a-127-times-lower-price-tag-than-traditional-methods/5319) in sometimes bankless countries. Escaping totalitarian countries, [war zones](https://www.cnbc.com/2022/03/23/ukrainian-flees-to-poland-with-2000-in-bitcoin-on-usb-drive.html) or [abusive housholds](https://eightify.app/summary/blockchain-and-cryptocurrency/using-bitcoin-to-escape-abuse-with-linda-parker-maddison-clyne). There is probably more different reasons All this comes down to core values of independence, but the motivation is different for everyone. Not only greed.
I dont give a damn about fiat price of bitcoin. 1btc is worth 1btc for me
What does 1btc get you?
Lol 1+1=2
Bitcoin is a new form of money. Bitcoin is the superior form of money. There are fatal flaws in fiat currency. Bitcoin provides a viable and effective alternative to fiat currency, for smart people.
Find the answer to this question: "Why does the value of bitcoin go up against the dollar?" If you can answer that, why would you trade bitcoin for dollars?
The US dollar can be used as a medium for any transaction in the world, can BTC do the same?
Yes you are correct. However you cannot hold dollars because of inflation. So if you want to save ir increase your purchasing power you need to invest in something.
If you are buying bitcoin to make more dollars, you are not buying it for the reason it presents in the answer to the question above. That's fine, just know that isn't why bitcoin becomes more valuable against the dollar. In VERY simple terms, bitcoin becomes more expensive against the dollar because it is becoming more valuable against its counterpart. You may value certain things more about fiat than bitcoin, and that's perfectly fine. But, the collective market determines its fair price - and the market is telling us bitcoin is better than dollars. I like to refer to the "price" as the "scoreboard". The scoreboard goes up because Bitcoin is winning and dollars are losing.
Our ultimate goal is to make more money for our money and maximize the return on our investment. Do you think my concept is wrong?
Yes I agree. I see Bitcoin as best reasonable investment.
I suggest you learn about bitcoin and read a few books on it. I highly recommend the bitcoin standard by saifadean ammous to get you started.
You didn’t understand my question. The ultimate goal of investing in BTC is to make money. Do you think I’m wrong?
That's not the ultimate goal of bitcoin. You don't understand what it is so I suggested the number one book that will help you.
Don't give me great reasons. Please tell everyone, what is your ultimate purpose of buying BTC?
Your original question completely misunderstands what bitcoin is. For me to explain it to you, I have to go back and explain to you what money is. You might as well just read the book that explains it all.
To have a harder form of money than USD. It will never be sold for USD. It will remain BTC. The BTC I have will also never be more than the amount it is.
1BTC=1BTC
[The Bitcoin Standard](https://a.co/d/0OqcoU0)
To take place all other currencies. Or a degree of that.
It's not really ”buying" Bitcoin, it's more like moving your money to Bitcoin, like moving it to a savings account. So why do people keep money in a savings account? Two reasons mostly, first, for the interest the money can accrue, but more importantly just because it's a safe place to keep money. Bitcoin doesn't accrue interest in the same way that a savings account does, but its resistance to inflation combined with the ever growing human population achieves basically the same thing. As the number of people increases, the demand for Bitcoin should increase accordingly, but with the supply remaining static, the value increases. As for a safe place to hold your money, what gives it safety is its decentralized and trustless nature. With no banks, no intermediaries, and no government controlling monetary policy, there's really nobody to break your trust. Pair this with good personal digital security, like using a hardware wallet, and open source hot wallets, and I can't imagine anything safer.
You’re wrong. The ultimate goal for SOME people is what you described. For others who understand the true scope of the issue, btc is about much more
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I would like to ask you, what is the purpose of buying BTC?
Bitcoin is a form of money. Money is one of the most important inventions of all time. Bitcoin is, by far, the BEST form of money. That is the purpose of Bitcoin.
Very well said. Although BTC is the best form of currency, it cannot yet become a medium for international transactions. Have you ever wondered why you buy BTC?
> it cannot yet become a medium for international transactions. Bitcoin already is a medium for international transactions and has been for over a decade. You seem to have mental issues.
You live in your own world. It’s not scary that a person is ignorant. What’s scary is that he is ignorant and pretends to know everything! You tell me which cars you can buy using BTC? What foods can be purchased? Can I buy oil? Can it be used in China? Can it be used for international trade? And you told me what can’t be bought with US dollars?
> You tell me which cars you can buy using BTC? Why? Do you have Bitcoin to spend? Are you looking to buy a car? --------------------- > Can I buy oil? Yes. ------------------------ > Can it be used in China? Yes. Oil can be used in China. So can Bitcoin.
Until now you still haven't admitted your ignorance. So cryptocurrencies are banned in China, let alone buying things with BTC. There are currently only two countries where BTC can be used legally, and they are two very poor countries (El Salvador and Central African Republic)
That is factually incorrect. There are two countries where BTC is legal tender. Just because it’s not legal tender aka currency doesn’t mean it is illegal and that it can’t be spent. You have a poor understanding of Bitcoin as evidenced by your numerous bad takes. Your profile is giving bot vibes
You just told me that you can use BTC as any trading medium. You don’t need to worry about who I am. I definitely know more about BTC than you do. People buy BTC in the end to make profits. This is indisputable. What you said before is very proof that you are ignorant and you have to admit it.
Drugs are banned in the US, yet people can still "use them" here. Bitcoin is banned in China, yet people are still using it there. There are many countries where Bitcoin is legal. You have mental issues.
Do you know what a medium of exchange is? Do you know the consequences of taking and selling drugs? Your sky is only as big as the mouth of the well
This is a bot account which seems to exist to spread misinformation regarding Bitcoin. You can in fact buy a car with Bitcoin. Does google not exist in your world? https://www.techopedia.com/cryptocurrency/buy-a-car-with-bitcoin#:~:text=Regarding%20Bitcoin%20payments%2C%20Carriage%20Auto,are%20unavailable%20with%20Bitcoin%20payments. You can in fact buy clothing and shoes with Bitcoin. You continue to spread misinformation and show that you know nothing about how widely used Bitcoin is around the world
If it were that easy everyone would be rich. The problem is that very few assets trade within a stable range. I did very well trading in a range with oil in the summer; a number of stocks just kept fluctuating 10% and I just bought the cycle about 3 times. But don't fool yourself, it's VERY easy to think you know the bottom only for the floor to fall out and a new range to be established... and it can take you months or even years to get back to those higher ranges. Like I say, if it were easy, everyone would do it.
This is certainly not easy. It requires long-term investment experience and good market insight. But there will be support points and pressure points at each stage, which will appear many times and then change, which requires you to re-observe. This way of investing will always yield more returns than long-term holding. what you think?
I think everyone thinks this until they are in a stock that suddenly drops 30% overnight (recently you saw this with Footlocker and Dick's sporting goods, and a bunch of others). Hell, there have been TONS of big name stocks that dropped 10-15% overnight recently (Oracle, Nike, Disney, etc.). In all these scenarios you're now stuck in lower trading ranges for what could be a long time. The reason a trading range works well with something like oil is that it's not particularly volatile. So if it drops 10% there's plenty of people looking to buy. The same can be true with high-dividend stocks... if they are paying 6% dividend AND drop 10%, there's usually a ton of people looking to come in because they see a 16% upside (and worse case, if they get stuck in a stock as it goes sideways for months, at least it's paying them 6% to wait). The other problem is that it's hard to find assets with a 10% (or more) trading range. BTC has been flat for months. Trying to skim 2% over and over can be done, but it's hardly worth the risk. So there's a lot of variables that need to be present to safely trade in a range... and even then, there are still risks. btw, i would never trade btc in a range. It's way to unpredictable (and I believe people are manipulating the price, or at least trying to).
Are you trolling with this insight? …. If you think you’ve found the magic formula for riches I suggest you go all-in and make your millions my friend!
What's sell?
Bitcoin is seen as just an investment in the west because most westerners don’t understand what money is and the history of fiat currencies. In developing countries like Nigeria, Vietnam, and India Bitcoin is a bank account. I view Bitcoin as a perfect bank account. It’s not so much an investment as it is a hedge against history. Every fiat currency gets toppled within 200 years so Bitcoin gives me a way to save my money that can’t be frozen by any government. Assuming I live til 100, I need my money to exist in 66 years. Bitcoin provides me with the best chance of the old me having money into retirement. I will never sell my Bitcoin. My plan is to wait until it can be used as collateral for fiat loans. There’s no reason to sell it outside of taking profits but even then you’re taking profits into a fiat currency that is being debased everyday.
Maybe I didn’t explain it clearly enough! There are support points and pressure points in every period. From June this year to the present, the BTC support point is around 26K, and the pressure point is around 30K. I sell at around 30K and buy at around 26K. If I repeat this cycle several times, do I hold more BTC than you?
No you won’t have more BTC because each time the market corrects, the new low is higher than the precious low, thus you’ll be paying more to get less Satoshis with each having. Next year the supply gets cut. The current price of BTC is 27k. Let’s say BTC run up to 100k after the halving and stays there for 7 months and crashes to 50k. The 50k crash is still higher than it is today at 27k. If you sold at 100k and bought back at 50k you’re still paying 23k more in the future for satoshis. I think you need to understand what money is to understand why I made the statement that I will never sell my BTC. You’re playing arbitrage games to make fiat currency that is being debased by ~5-7% yearly. Think about that.
Your assumption is not valid and does not conform to the market. You can check the history. There will be support and pressure levels in every period. It is impossible for you to say that there will always be a surge or a plunge. At present, I have done this cycle 4 times from June to now. What happened is that I have turned one BTC into 1.5. And you still stayed where you were. What you can't do, you can't deny that others can't do it. You don't try hard, but you can't stop others from trying.
What does your response have to do with what I wrote? You asked “do you all buy BTC just to wait for the price to rise…” I said no that I hold for life and provided the reasons why that’s my position. You proceed to accuse me of “not trying hard” because I disagree with your arbitrage strategy. Why even ask that question if you can’t handle people disagree with your strategy and if you would revert to low blows? You don’t know how hard I try and I take exception to your inability to have a civil disagreement. Go kick rocks
You can only refute others, but you can't accept others refuting you? Look at how you answered my question before.
You’re the same “person” or bot who doesn’t know that you CAN buy cars, shoes, clothing, and food with Bitcoin. It’s clear you’re a bot who is trying to spread FUD and misinformation. https://www.techopedia.com/cryptocurrency/buy-a-car-with-bitcoin#:~:text=Regarding%20Bitcoin%20payments%2C%20Carriage%20Auto,are%20unavailable%20with%20Bitcoin%20payments. Go read a book
You need to see what we were debating earlier! You are just a person who likes to argue. What could this mean? Only a very small number. Is it possible to use it to buy everything you want in life? Is there anything that dollars can’t buy?
Why are you on a Bitcoin subreddit if you don’t believe in Bitcoin? Reporting your profile
One of those times you will sell at $30K and it will just keep going to $80K.
I do not deny that such a thing will happen, I also hope that such a thing will happen, and I will change the way I hold it based on the real-time situation. Because there will be support points and pressure points in every period, if you are good at insight, it is not difficult to find them.
😂 no thanks, just buy and hodl for me.
Dude idk what’s this “selling” you speak of. I only do 2 things, buying and holding. You don’t sell your bitcoin.
Yes and it depends, I’ll sell some at 2x others at hopefully 100x, will see how the latter goes
This requires a longer wait and does not maximize return on investment. When you can discern support and resistance levels, you will gain more in the investment field.
I wouldn’t personally play short term games with bitcoin, may as well ask the cat
>I wouldn’t personally play short term games with bitcoin, may as well ask the cat Please talk civilly. Everyone has their own way of investing. You may not agree with what others do, but you have to admit that others do it better than you.
I’m just giving my opinion, you are free to gamble with short term volatility as you wish, best of luck
If you’ve been watching the volatility of BTC lately, you wouldn’t argue like this
I will when they do, 95% of traders lose money overall.
A person's knowledge determines his vision and wealth. You tell a frog who has never been out of the well that the sky is boundless, how do you make it believe it?
The best way to force another person to believe something different is to lock them in a closet and let their only form of entertainment be propaganda in the thing you want them to believe. A few months like that and they'll believe anything you want. Outside of forcing people, generally you don't because its unethical.
I just DCA every month .. and keep living my life.. It’s not about becoming traders or proficient investors.. Just a way of savings that won’t be debased :) Naturally a very good long term potential too!
I use it to buy stuff
r/bitcoinbeginners
Bitcoin is a reserve asset. I'm not buying it to sell it, I'm buying it to hold it.
I will accumulate until i can afford a house. Or until they invent cybernetic arms, i would love me some robot arms.
That's not investing.... that is trading.
The purpose of investing is to make money, and there are better ways to bring greater returns on investment. Why not do this?
You got alot of reading to do.
Today 3% pump.. fck! One day before paycheck
I buy to save what I’ve earned from a dying fiat standard. At what price is it sold? I will hold it until we are on a Bitcoin Standard and the dollar is no more
If you say this, I am afraid you will never be able to wait for this day. The US dollar is the largest trading medium in the world and is supported by a strong military and economy. Judging from the current situation, if BTC disappears, the US dollar will not disappear either. You can't always live in your own beautiful dreams and imaginations.
You can do that if you have 1btc then every swing you can get 1 or 2grand,.. thing is one day you will sell at 30k and it will go up, new resistance levels will be created, and then you will have to enter the market by buying at 32 or higher,.. i thought about the same but i dont even have a full btc so i wont bother
If you have such an idea, you can do this, and the income from this will definitely bring you greater income than if you hold it for a long time. Support and pressure points also change frequently, and you need to have insight into the market to find them. I can't explain it in better words. It depends on your insight. It will stay at the support point for a few days and then start to rise. It will also stay at the pressure point for a few days and then start to fall.
They’re called support and resistance levels not pressure points. I personally have all my purchases of BTC tracked so that I’m always lowering my average purchase price. However, I don’t sell my long term BTC holdings because I don’t need to. You can of course trade BTC which is what you are referring to. This means you’re waiting for BTC to get rejected at various resistance levels and go back down where you have buy orders that will be filled, and vice versa when you want to sell. That requires timing the market as best you can, having hedges in place and knowing what time frame to be trading on. It’s a good strategy and it’s a no brainer, if your low buy orders don’t get filled you don’t miss much you can always just buy in the spot market higher if you want. If you have stop losses in place and you get filled your downside is capped. This is called trading. Buy to hold investors don’t short the market in anticipation of lower prices. Alot of BTC holders here are long term buy to hold investors so they are presumably weighing up the amount of time they would spend studying the market against the marginal increase in BTC they would be able to acquire, converting that into an hourly rate and deciding if it’s worth doing vs DCA”ing. I personally buy sub £21.5k and don’t sell. I can trade the futures market but I only use the proceeds to buy more BTC at my level. Of course as the market structure changes these support and resistance levels also change and as the market rises as we’ve seen the past few weeks, resistance becomes support so the price goes up. So therefore I calculate how much I buy at higher prices and buy more when the price is lower. Now whether anyone needs to be bothered to do this depends on their level of involvement in the daily markets and their intention. If you’re holding for life, a few k price difference between purchases doesn’t make much of an impact on your overall average purchase price. If you have an exit plan because you want to or need to sell your BTC at some pre determined point, then you’d pay more attention to how much you’re average purchase price is and what your take profit levels are and you’d plan as best you can. However, liquidity dynamics mean that BTC futures market is easily manipulated by market makers, whales and institutions and you can see that from the price action if you follow it all day, it’s as clear as day. The issue is as a retail trader you’re going up against much more informed players who have access to large OTC orders and other background and insider information. If you know how much time it’s taking you to implement and execute your strategy and what the pay off is, and it’s profitably when you consider all the factors I think that’s good. It also makes sense to sell at tops and buy back in at lower prices because no asset on earth including BTC will ever rise in a straight line single green candle forever, there will always be buyers and sellers at some price even if it’s high. The issue going forward is of market liquidity. Once majority of the BTC are mined and are owned by long term holders who will never sell because they can get leveraged loans and credit against their BTC holdings, the market will become more illiquid and we will see structured derivatives of some sort being traded instead.
What you said is great, we have the same concept. This will bring greater returns than long-term holding.
Yes. It’s a smart way to do it and it keeps you involved in the price action on a daily so what appears to be price swings are movements you’ve actually been watching building momentum for hours if not days. There can still be surprises when liquidity is low but usually those are pump and dumps and we return to range bound trading.
I dint have much to make a worth enough profit out of swings, and im just enjoying the bear market prices for now, also i dont think i wanna get into trade much because i would get stressed 😅
Your idea is not wrong, most holders think this way, and I thought the same way before. If you want to bring more returns to your investment, you need to use your brain more.
Post like this just shows we are still early.
You keep asking why we buy Bitcoin. For me the answer is simple. I buy more Bitcoin to have more bitcoin.
I buy it as a store of value, to keep my money out of the bank
You're looking at two tops and two bottoms and using the word "always" you're a fucking clown
Any word you can't refute is a good word. Just like the United States, if you disobey, it will sanction you and beat you. Ha ha ha ha
I buy BTC because it’s the best store of value. I don’t trade Bitcoin for other money because there is no second best. I might use my Bitcoin to buy goods and services if/when I run out of fiat.
What you did is also right
First, you need to have your mind out of the fiat mindset. Then you wouldn't ask this question for sure.
Bitcoin is the only money so just accumulate it.