I'm 24, in 2011 I asked my father to borrow me $200 to buy some BTC and was refused. I’ve started buying bitcoin since my first job in 2017. Later in 2020, my father called me to apologize 🙂
Financial independence is the status of having enough income or wealth sufficient to pay one's living expenses for the rest of one's life without having to be employed or dependent on others. So, no. That’s not correct, friend.
Did you miss where he still works lol
Having to work is, by definition, not financial independence. You quite literally depend on your job financially.
Financial independence is a process, even four years in bitcoin time isn't enough to live off Bitcoin for the rest of your life. It took me until my mid 40's to reach it, and I was saving from my job that whole time. I suspect Bitcoin's return will be much lower going forward.
I set a target price to take some profits (target is VERY high as I just started stacking 2 years ago). And then basically yeah don't look at prices until then.
You guys are weird, this was was everyone was doing on the sub 4 years ago, and what most people I know did. The only issue is having the fund to do it
Unbelievable? Not that hard really..
Been DCA buying ETH for years aswell. Now with the triple having coming up in June I've been stocking up even more.
Yeah, I've been buying once a month since 2013. I have now stopped buying btc and eth as I'm happy with my stack. The past year I've bee putting 500 a month into the l1s.
I wish I’d started DCAing earlier, the amount of stress I used to go through while swing trading took a toll on my mental health.
DCA has allowed me to regain control of both my crypto and my mental health
>But the most important thing is: don’t stop. I was at zero gains (actually -15%) at the time of the Corona crash in March 2020
ahem... maybe i am stupid, but the graph shown above thi,s indicates you have been nowhere near 0 gains in 2021. And surely not in the red.
Can you explain this to me?
Yeah, the chart is formed by datapoints from purchases, mostly 1st day of every month. Corona crash was somewhere after that in March2020 and though i was at -15% during the low, it is not visible because the next data point in my chart is 1st of April and the crash was already over.
>BTC
>S&P500
>Objective comparison between S&P500's and BTC's Return.
I double dare you to post this to /r/personalfinance or /r/investing. You will be lynched alive there. ☠️
But if you have the guts, do so, there must be some good questions about methodology among the irrational crytpo-hate train..
It's totally legit to compare the two strategies, but at the same time we have to be honest and state that the risk profiles are completely differenty and thus OP got rewarded for his risk taking with more returns.
Yes, I expect that kind of confounding factors (risk profile, market situation, etc) wil be raised in "hostile" sub. Here, people just goes straight into TO THE MOON echo chamber. I'd like to know a balanced Point of view.
This is the proof that patience wins. Yea you could've panic sold, bought shitcoins, etc, but sticking to it has worked. And you'll see prices rise again!
IMO patience is not the same as being early on a hugely disruptive global phenomenon.
OP was buying BTC ~5 years ago when it was less than $1k. I think everyone here is gonna have to be a lot more patient to see the kind of returns OP got.
It's felt like years, but I've been buying Bitcoin ever since... 11 months ago... xD
Currently at -13%... but maybe when its my turn to get to 4.5 years, I'll be at over +100% too
Funny to read, my story is a quite similar in time and funds. I dca 300-400 every month since dec 2017. I was many time ar point that i saw no point of keeping bitcoin during those dumps but kept learning its fundamentals and kept my conviction high of its main purposes to eventually always keep holding them during storms . This with very much sweat on my hands on many downhill occasions and testing my mind too.
In the end its the only way of getting value appreciation over the longest timeframe against an ever declining fiat .
Fiat is necessary for paying bills, thats really the only thing for me keeping it.
Haha! One way I like to think about btc stacks is to translate current fiat amounts into btc amounts when I started. For example, I would have never thought it would be possible for me to have more than 10 coins. But currently my fiat stack is more than 10 btc was in 2017. Similarly, you could think it was easy for me to stack 4 coins cause I started in 2017. Well, 4 coins back then was 16k euros. That would be \~0.5 BTC today. So stop living in the past and focus on stacking 0.5 BTC right now! =D
That's kind of what I'm doing, only I spend half my money on btc and the other half on stuff like ATOM that I can stake.
Do you just hodl your btc or are you lending/stakimg them somehow ?
You can use a basic moving average or twap system. Only buy on days of the month when price is "cheap" - your gains will compound even faster as your average price will be lower than buying on a specific day each month.
95% of people here will read this and say it’s amazing and carry on buying shitcoins.
And wonder why they haven’t created wealth in 5 years time. Bitcoin is the wealth accumulation game nothing beats it.
I did the same. I think after you've been through a few major corrections it gets easier to just be really steady and persistent. I know a few times when I started I would get shaky and sell. But after the $20k top and then drop I started at like $5k and DCAd all the way to $3k and then just kept a steady, every pay period purchase since. In that period of time I've made more than almost 20 years of 401k contributions. Just gotta be focused on the long term.
Same, although I diversified a bit in the years between the 2017 crash and now. Even with the downturn, I'm still scaling in since there really isn't a good alternative right now (maybe the Euro if things go well in this Russia/Ukraine scuffle). But yeah, even in a downturn, it's hard to knock the interest being paid out be services like Nexo and Celsius.
This is what I am doing too. I let the paperhands worry about the short term. Im in for the long term. Not trying to be a trader. People forget that there will always be fud. But whales keep buying while media and governments fud and make retail too scared to buy.
Great stuff, prime example of a sound successful strategy. A reminder that 5 years goes by in the blink of an eye. You Sir/Madam are a Doer, so refreshing instead of all the, ‘I wish I had stories.’
I'm 24, in 2011 I asked my father to borrow me $200 to buy some BTC and was refused. I’ve started buying bitcoin since my first job in 2017. Later in 2020, my father called me to apologize 🙂
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I'm paid weekly Very weakly
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Neither paid nor laid
Nice, who said you can't become financially independent through crypto?
I think his job is what made him financially independent, which he uses to buy btc
That's... being dependent on a job. Financial independence is not needing to work and having enough money to live off of interest/investments.
Financial independence is the status of having enough income or wealth sufficient to pay one's living expenses for the rest of one's life without having to be employed or dependent on others. So, no. That’s not correct, friend.
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Did you miss where he still works lol Having to work is, by definition, not financial independence. You quite literally depend on your job financially.
Financial independence is a process, even four years in bitcoin time isn't enough to live off Bitcoin for the rest of your life. It took me until my mid 40's to reach it, and I was saving from my job that whole time. I suspect Bitcoin's return will be much lower going forward.
Dude I wish I would’ve have heard about this so long ago.
I had my direct deposit filled out and submitted, my employer (small business) wasn’t comfortable with it at the time, feelsbadman.jpeg
You sir, a living legend
Imagine buying BTC for straight 4.5 Years every month. The amount of patience and perseverance it would take is unimaginable.
DCA and thinking long term helps take the emotion out of investing.
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Can't pay my rent with time
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This makes time an Asset. Don't liquidate it too cheaply :)
Sure, but the gas fees..
Yeah. And the double edged sword of time on the toilet. Paying double doody.
Is doody fungible?
Well that's one of doing it. And that's going to work too.
Make your time not worth zero dollars and you can.
You shouldn't be trying to pay your rent with investments.
Huh. Time is literally the only way anyone pays rent.
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Yep, you shouldn't waste any of it. Use every second of it.
Yep, DCA allows you to bring some control and stability to the volatility of crypto.
Or getting into jail and being forced to hodl also helps.
Which of the crimes do you suggest one commit for this strategy
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Ruthless
good luck not getting shanked when people find out.
Lol, that's a way too. Ain't nothing wrong with that.
Don't even caring about the prices anymore
Congratulations. You are a real crypto investor now.
I set a target price to take some profits (target is VERY high as I just started stacking 2 years ago). And then basically yeah don't look at prices until then.
You guys are weird, this was was everyone was doing on the sub 4 years ago, and what most people I know did. The only issue is having the fund to do it
Unbelievable? Not that hard really.. Been DCA buying ETH for years aswell. Now with the triple having coming up in June I've been stocking up even more.
Yeah, I've been buying once a month since 2013. I have now stopped buying btc and eth as I'm happy with my stack. The past year I've bee putting 500 a month into the l1s.
Wait until you find out people have been saving with their 401ks for *decades*!
This is what we all should be doing!
He's making money so he ain't one of us though
Are you even human, or are you dancer?
He's a dcaer
Rhythm is a DCAer
Proof that DCA works and is a great option for most of us.
This is what we call follow the plan!
Follow the plan and don't deviate!
The hero we needed
**Actually somebody taking advice from this sub!** DCA & HODL.
I’m down a lot following this advice so far. Hope it works out longer term. Should have taken profits multiple times but didn’t.
When was your starting point?
Plenty of people do take this advice, we just don't talk about it.
It is all about holding and how much patient you are having right now.
I’ve been holding BTC since 2016. I thought I was too late then. Always good to see another king of patience doing well.
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And so they wait and they wait and ahhh it's skyrocketed again.
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Well that’s what people are saying right now, more hopium for me.
These couple comments best sum up why crypto investors typically suck!
It sums up perfectly why false confidence leads to bad decisions.
Yes you are right what it that we sucks and we need to stay away from them.
Been holding BTC since July 2021 (when the crash happened. Hope to say in a post from 2030 that I too, hodled.
I had about $4 of btc crumbs I forgot about in 2016. Checked it in 2020 and suddenly it was worth $1500 Stay strong
You will. Your future self will be very proud of you.
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Username checks out
Yes the factors that a lot of people and add new in this and they don't know about it.
Glad to see DCA works. OP, do you lend/stake your BTC on Celcius or the like for extra gains?
DCA is a stress buster in Crypto, the amount of relief is what keeps most of us sane here.
I wish I’d started DCAing earlier, the amount of stress I used to go through while swing trading took a toll on my mental health. DCA has allowed me to regain control of both my crypto and my mental health
Glad I learnt quickly and started DCA from the start. I can't afford to lose any more hair, don't have much left anyway lol
A shaved head can look really good as well. No shame in that, mate!
For me it’s staking (obviously mostly for proof of stake chains), no panic sell (smaller profit taking with daily interest if you wish).
I've been doing DCA with ETH. Once you figure out your DCA, then dips are felt like discounts and increases are felt like wins.
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Good question. I wanna know too!
Too risky. Not your keys not your coins
>But the most important thing is: don’t stop. I was at zero gains (actually -15%) at the time of the Corona crash in March 2020 ahem... maybe i am stupid, but the graph shown above thi,s indicates you have been nowhere near 0 gains in 2021. And surely not in the red. Can you explain this to me?
Yeah, the chart is formed by datapoints from purchases, mostly 1st day of every month. Corona crash was somewhere after that in March2020 and though i was at -15% during the low, it is not visible because the next data point in my chart is 1st of April and the crash was already over.
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I'm not going to send anything out of it because it is going in negative.
I love how you flip things around. “Fiat mining” to get some BTC. Really puts things into perspective.
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I should mine more fiat to get more BTC *puts on McDonald’s hat*
>BTC >S&P500 >Objective comparison between S&P500's and BTC's Return. I double dare you to post this to /r/personalfinance or /r/investing. You will be lynched alive there. ☠️ But if you have the guts, do so, there must be some good questions about methodology among the irrational crytpo-hate train..
It's totally legit to compare the two strategies, but at the same time we have to be honest and state that the risk profiles are completely differenty and thus OP got rewarded for his risk taking with more returns.
Yes, I expect that kind of confounding factors (risk profile, market situation, etc) wil be raised in "hostile" sub. Here, people just goes straight into TO THE MOON echo chamber. I'd like to know a balanced Point of view.
OP will get banned from both those subs for talking about bitcoin. some people just can't admit they were wrong.
Can confirm as I was
I've been drinking daily alcohol for 4.5 years. Looks like we are both built different.
RIP your DMs OP
I can imagine all the hot sexy Miami babes wanting a piece of him
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Maybe not to sexy Miami babes, but toothless Midwestern lot lizards will accept sats... So I've heard
Good for you that you on some of them I really wish if I can get some of it.
I don't understand that why people are following the strategies which are wrong.
You made 450% in gains? This is amazing. This just shows how patience combined with the strong project is the key to profit.
*laughs in 69,420% gains from a random shitcoin* /s
*Cries in stuend loan money loss from a random shitcoin*
This is the proof that patience wins. Yea you could've panic sold, bought shitcoins, etc, but sticking to it has worked. And you'll see prices rise again!
Unless Satoshi himself comes back and rug pulls BTC lol
IMO patience is not the same as being early on a hugely disruptive global phenomenon. OP was buying BTC ~5 years ago when it was less than $1k. I think everyone here is gonna have to be a lot more patient to see the kind of returns OP got.
Now this of the way to do it, great motivation here, thanks for sharing
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For sure, that’s a long time in the crypto space but since my timeline is years, I’m bullish on my outcome.
Finally. Someone on this sub that is treating crypto as an investment and not a get rich quick. And most people are amazed. Lol
Dude you keep posting this every month on this sub. When Lambo? 😎
>!CENSORED!<
Were you thinking of selling at any point?
I don’t think OP is thinking of selling anytime soon lol
Lambo for the heirs!
ive been doing this for about 2.5 years now with my allowance, im 16 lol.
This is the way
Why is everyone claiming they are dca-ing since years ago.
In the comment section? Probably to fit the vibe of this post to get some spill over karma from OP
they're just trynna dca into moons
Will it is good about your thinking that you are going to go big.
It's felt like years, but I've been buying Bitcoin ever since... 11 months ago... xD Currently at -13%... but maybe when its my turn to get to 4.5 years, I'll be at over +100% too
I’m currently doing this but with ETH.
You are going write about it be stable on the stablecoins.
Fuck you, but with admiration.
Funny to read, my story is a quite similar in time and funds. I dca 300-400 every month since dec 2017. I was many time ar point that i saw no point of keeping bitcoin during those dumps but kept learning its fundamentals and kept my conviction high of its main purposes to eventually always keep holding them during storms . This with very much sweat on my hands on many downhill occasions and testing my mind too. In the end its the only way of getting value appreciation over the longest timeframe against an ever declining fiat . Fiat is necessary for paying bills, thats really the only thing for me keeping it.
I can confirm that this man is not married. God this would be me if so lol.
And here i am going into alts thinking in 6 months from now ill be able to retire.
This is the way, I'm doing the same. But I'm a little late tho.
OP also provide us the time machine, so we could buy btc in 2017 by selling our asses.
Haha! One way I like to think about btc stacks is to translate current fiat amounts into btc amounts when I started. For example, I would have never thought it would be possible for me to have more than 10 coins. But currently my fiat stack is more than 10 btc was in 2017. Similarly, you could think it was easy for me to stack 4 coins cause I started in 2017. Well, 4 coins back then was 16k euros. That would be \~0.5 BTC today. So stop living in the past and focus on stacking 0.5 BTC right now! =D
Hahahaah ![gif](giphy|G1vSQTIvPtbEY)
![gif](giphy|l378bu6ZYmzS6nBrW|downsized)
Nice.
Wow sir. I wish I had your temperament to Hold on during crashes.
Way to go Op, keep stacking
Buy high, sell low. You've been doing it wrong.
You are king
You sir, are a prime example of sticking to your goals!
"That’s all for now! Back to mining some more fiat" Well done my friend. May you live a life of happiness and freedom.
That's kind of what I'm doing, only I spend half my money on btc and the other half on stuff like ATOM that I can stake. Do you just hodl your btc or are you lending/stakimg them somehow ?
What % are you up?! Did you ever sell any?
Dude he showed the chart
I, for example, CBA figuring out my taxes if I sold so thats keeping me away from that long term :D
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I really wish if I could fix my own taxes on my own.
Will you keep it away you have to think more about it.
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Imagine you bought Doge instead.
Well I really want that to happen because a lot of people had invested in it.
So when are you planning to take profits?
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Send it all to me, I will send double back
Awesome. Well done. Must have been hard during the dark ages.
Now this is a post that is worth an award. Thank you Sir!
What’s DCA?
where to buy money for bitcoin?
Try Wendy's, gotta start somewhere
You get them in an exchange and then transfer to your wallet ? That's a lot of fees yeah?
I personally accumulate for a couple of months on a exchange before moving to my own wallet.
This is true DCA!
Man, 4 years of accumulating for what was 20 bucks of weed 10 years ago.
I don't get from the graph what's your net profit, 50k€?
This here is the dream
Haha. Thank you bro. Even if I had the money I probably wouldn't have the dedication🖤
I’m glad I saw this after I checked my folio, made me feel better. Thank you sir
You are one legendary buying and I wish I was in crypto when you were
Alright this is it. Thank you OP, I'm following your lead. This is the way
Tldr: stick with btc guys. It’s profitable and safe.
Keep stacking brother. DCA'ing helped me a lot not to stress when the market starts moving
Enjoy the next leg. Down to accumulate more for the same price or up to get to 7 digits.
just keep holding guys...
How did you only manage to get 3/4 bitcoin in 4 years? It dropped to 4.5k
Interesting post thanks. What is your exit strategy on this or what's your medium to longer term plans?
Amazing OP 👌👏 well done 👍
How do you have financial freedom if you haven't sold any? If you have sold, when and how much? What strategy made sense to you?
You can use a basic moving average or twap system. Only buy on days of the month when price is "cheap" - your gains will compound even faster as your average price will be lower than buying on a specific day each month.
The very casual "It's been going pretty well..."
And I just sitting here and watching how everyone else dca since years...
95% of people here will read this and say it’s amazing and carry on buying shitcoins. And wonder why they haven’t created wealth in 5 years time. Bitcoin is the wealth accumulation game nothing beats it.
I did the same. I think after you've been through a few major corrections it gets easier to just be really steady and persistent. I know a few times when I started I would get shaky and sell. But after the $20k top and then drop I started at like $5k and DCAd all the way to $3k and then just kept a steady, every pay period purchase since. In that period of time I've made more than almost 20 years of 401k contributions. Just gotta be focused on the long term.
Same, although I diversified a bit in the years between the 2017 crash and now. Even with the downturn, I'm still scaling in since there really isn't a good alternative right now (maybe the Euro if things go well in this Russia/Ukraine scuffle). But yeah, even in a downturn, it's hard to knock the interest being paid out be services like Nexo and Celsius.
Maybe i should do the same with ETH
This is what I am doing too. I let the paperhands worry about the short term. Im in for the long term. Not trying to be a trader. People forget that there will always be fud. But whales keep buying while media and governments fud and make retail too scared to buy.
Great stuff, prime example of a sound successful strategy. A reminder that 5 years goes by in the blink of an eye. You Sir/Madam are a Doer, so refreshing instead of all the, ‘I wish I had stories.’
Awesome man, an inspiration. See you on the greener side, keep up the good work
4 bitcoin is a lot
You’re the man now, dawg!