35 sats \ 17 replies \ @TNStacker 16 Nov 2023 \ on: deleted by author bitcoin
If one is converting to Bitcoin on payday, they are DCAing regardless. If one makes a lump sum with all their savings at a cycle top, they will be very disappointed in this method, and possibly negatively impacted for 2-3 years.
Not financial advice. Do your own research.
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I bought at 60k and I bought at 17k. I got a lot more Bitcoin at 17k.
That is all.
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Never go back to fiat. Once you convert all your fiat stash in BTC, just keep it as it is or use it as money.
If you regret because you bought at x price... you are anyways a loser because your mind is still thinking in fiat.
That's all.
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This. If your goal is to acquire as much Bitcoin as possible there's only two ways to do it.
You can either perfectly time the market and buy the bottom (which we all agree is difficult).
The next best thing is DCA (which is easy, even an idiot can do it and it doesn't require luck)
It's mathematically provable.
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That's not what DCAing means. Stop conflating terms and creating FUD like a fiat psyop.
They will be disappointed? Maybe they should just have a fiat savings account, you can too.
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What point do you make saying something is not DCA, and then not defining it?
Dollar Cost Averaging. The definition is in the terms. One averages the cost of dollar purchases/exchanges over time. Like with weekly or monthly paychecks.
What is YOUR definition?
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I agree. I don’t consider it DCAing if convert fiat into bitcoin as soon as you get the money. My thought is that if you got $10k bonus today, lump sum would be you go and buy $10k worth of bitcoin. If you instead got $10k but decided to spread out purchases to $1k a month, that would be DCAing. Everyone is averaging the cost of the dollar purchases unless you have no income or money coming in and truly do a single lump sum purchase with absolutely everything you have.
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Oh personally. I see. We should've using your personal definitions then. Got it. My bad.
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Sorry if this comes across as rude, but this is beyond fucking stupid.
I guess you must be super wealthy or something, and thus it's of no concern to you to be worried about how much Bitcoin you're actually getting when you acquire more of it.
Personally? I'd much rather have more Bitcoin than less of it. Very strongly doubt that I'm in the minority when it comes to having that preference, either.
I swear, some of you have allowed your hatred for fiat currency and your advocacy for Bitcoin to turn into a delusional fanaticism. People like yourself, with this kind of attitude: your elitism, your condescension, the smug self-righteousness -- all of it...you are ultimately doing a much better job of pushing people away from Bitcoin than bringing more people into the fold.
"Hey you, Mr. Joe Average -- yeah, I'm talking to you, fiat using loser pleb! You should take your entire paycheck, hell, take all of your savings and buy Bitcoin with it, right now. Sure, it might tank 10% in a day, but who cares? At least you're not using FIAT! You need to adjust your time horizon, newbie!"
Give it a rest, jesus.
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Going all-in is better than DCA-ing. It's just math. Read part 2 and wait for part 3 where i will go more in depth. If you don't get it after part 1, 2 and 3, then have fun staying poor.
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stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.
It is, but you don't have to call it that. You really don't. Call it Bitcoin cost averaging.
You can call 2+2 multiplication, but it is still addition, and it is still 2+2. However, you can call it 4.
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It is very obvious that it means when you have a chunk of savings whether to divide it across a number of regular periods, or lump sum. Obviously not related to "salary DCA"
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The source of one's dollars in dollar cost averaging is irrelevant
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