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10 sats \ 5 replies \ @grayruby 11 Aug 2023 \ on: Crypto accumulation and my personal journey thus far meta
Simple advice for you: Figure out how much Bitcoin you can afford to buy in a month and divide it by 30. Whatever that number is, buy that amount of bitcoin every single day for the next 5 years.
Yes it is boring. Yes it is simple. But 9 times out of time this strategy will have you way ahead of any trading, options, staking, defi yield strategy you will find.
Work hard. Save in Bitcoin.
Best of luck.
Thank you for the reply!
Agreed, it's the "itchy fingers" that can be the road to ruin (guess this is where the hard work mentality/ethic of building becomes the destination, rather than taking it out on your poor stack)
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We have all been there. I day traded commodity futures for a year back in 2011 when I took a year off after a contract job ended. I was supposed to take the year off growing my business (I did a bit) but I mostly degen day traded and travelled.
I have participated in markets for 20 years now, and at least for me, all the wealth I have obtained has come from long term equity in high quality assets (blue chip stocks like apple, real estate, and bitcoin). I have never made any sustainable money trading.
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I hear you, I see it frequently with traders who amass quickly to then lose it even quicker.
In my instance, I spent a lot of time with this friend of mine (myself with a few 100 at a time, himself towards 700k), they made it sound easy and a cake walk. Alas, liquidations galore and a shrug of the shoulders as their reaction was all that happened. Rough.
Hope your now enjoying some reward for that hard work!
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Ha, this is literally what I do! It helps to not have to think about it at all. Just do daily recurring buys w/ Swan. I think Swan is an incredible asset to the community, so I view the high fees as a donation to their outreach :)
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Heard good things about Swan, had some issues setting up an account for some reason, looked like an ideal platform to introduce some relatives/friends to the world of cryptocurrency.
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