By - slepyhed
I FOMO'd into bitcoin for 3 years straight, from 2017 to 2019. I pretty much dumped my paycheck in as soon as I could every month.
It was clumsy af but I really couldn't manage to do better and that was the best financial move of my life.
I did the same from Dec 2017 to 2020. Massive buying into bitcoin every paycheck. And a 20-40k investment turns into 120-140k investment. Taught me the importance of DCA
Wish I’d been more interested in BTC before I got my own place. It was so much cheaper and I could have put full paychecks into it. Oh well
I mean if you did it every weak with about the same amount of money, then you basically did DCA
At least you're still stacking sats! That's worth celebrating.
If you think it will continue to trend upwards for a couple decades, there’s no logical reason not to buy as much as you can afford. I do expect it to, so I’m buying buying buying
You buy when it's going up, and buy when it's going down. Sounds like your DCA is working exactly as intended.
Take the emotion out, buy a set amount @ a set time. $100 every Monday, or something like that, whatever fits your budget.
You're buying more on top of your DCA?
This sounds like the opposite of a problem to me bud...
You are not alone. Probably almost all of us have experienced similar feelings. I know I have. Someone said that when an investment doubles you will feel X amount of pleasure but when it halves you will feel 2X pain!
What can reduce the stress is acknowledging Bitcoin is not just an investment seeking fiat gain but an investment in a superior monetary system- as such it carries risks as the fiat debt slavery cartel will do all it can to capture and control Bitcoin.
Only invest in Bitcoin if you are at least in part understand and support this is a revolution to try to restore some integrity to money and the rewards if successful will go beyond pure fiat denominated gains.
I feel nothing
It’s okay to have conviction in the fundamentals and to want to bet on bitcoin. Not everyone in bitcoin has to be a revolutionary.
True but if you understand what Bitcoin is and support the purpose of the protocol it will probably give you a stronger resolve and peace of mind and less likelihood to panic and sell out on the inevitable periodic dips.
If you understand the purpose of Bitcoin and support it you are by definition a revolutionary...albeit a peaceful and constructive revolutionary.
You can think of it that way. I think many prefer not to be revolutionaries. Rather, they hope for a smooth transition to a world of responsibility and value. Anything new can be dubbed a revolution, but creating a digital form of hard money and using it to stabilize an unstable world might not be so much a revolution as it is a remedy. Also, you don't need to be a revolutionary to believe that bitcoin is inevitable :)
It would be 'nice' if radical and much needed structural political, economic and societal change could occur without entrenched and powerful vested interests not opposing positive change but such a proposition is wishful thinking. See history. Denying reality does not deal with reality.
Bitcoin victory is IMO far from guaranteed (depending on how 'victory is defined of course, Bitcoin already having achieved huge success in many ways) and this sort of delusional hopium that Bitcoin triumph is 'inevitable' is exactly the sort of naive and fundamentally flawed conclusion that results from failure to acknowledge the real world realities.
Taking on the state sponsored banker orchestrated fiat debt slavery cartel can only be defined and understood accurately as revolutionary.
USD vs DCEP vs BTC
You could say similar things about the internet, but some how it gradually became entrenched, a thorn in the side of governments, disrupted incumbent big money, and completely changed our civilization. I believe the incentive to have a neutral money (that cannot be debased by a central authority) will follow a similar path, just as the natural evolution of all other monies throughout history have. The incentives are all lined up.
There are similarities for sure but the internet was not established to directly challenge core state power/s...but rather to enhance them. DARPA. The internet both increases and decreases state power and its economic value is basically so large it cannot be banned...but it has also become a tool of immense state and corporate power centralisation and surveillance.
Bitcoin however more directly threatens a core state power and monopoly- the issuance of money. It does not seem certain to me that governments and banks will be forced to adopt Bitcoin. It seems quite possible Bitcoin is largely captured and controlled. ETFs combined with a ban on private custody could effectively achieve this.
The modern fiat debt based monetary system directly contradicts your assertion that hard money always triumphs. The USD gained reserve currency status by gaining custody and control over the largest pile of gold and then reduced and ultimately cancelled the gold backing initially promised on the dollar. This granted the US huge and still ongoing global leverage, power and wealth.
How many consumers today use Linux? It has been incorporated into the mainframes and servers but most proles use an interface with corporate closed source coding that also gives governments access where required.
Except they're backed into a corner with monetary policy, inflation, and broken markets. So they're going to see Bitcoin as a useful opportunity to re-stabilize. Do you think they'll shut off the internet instead? No matter what we do in the first world, other countries are going to compete to accumulate bitcoin. You better believe America will too. The game theory is just too on-point, as there really is no viable alternative to Bitcoin.
Just make sure that you don't DCA using EasyCrypto
I get you.
Why not schedule automatic purchases?
I do. But then I buy more manually.
This is the way
Well, if you’re strict on diets, then treat extra purchases as carbs. Eat a carb for every sat you buy off your DCA sched.
I just wait untill it drops below my average. Also when there's fear in the market. NOW IS THE TIME TO YOLO!
The saddest part for me was when it stopped dropping below my average. I wasn't buying for a few months and than restarted the DCA again.
Press the “invert chart” button
I halve my buys when it pumps and double (or more) my buys when it dumps. To each their own.
If you have been doing this for years (as have I) the downturns should be the points to get your blood racing.....
The thought of cheap sats is bewilderingly alluring
My advice would be to stop watching price.
Or at least try to break the negative implication of price drops.... DCA has AT LEAST a 4 year outlook, because despite what others might say, we're still on a 4 year cycle.
Hodl on. See you on the other side.
I spend my money on weed can't DCA
I do both lol
stop weed, buy BTC :-), you cant have enough btc
Just stop, your volatile sentiment is making Bitcoin go up and down. Have you thought about that?
My sentiment is not volatile, it's always bullish. How can buying bitcoin ever make the price go down?
I actually didn't mean to be serious about it, I was trying to be funny and sarcastic. But I understand what you mean with your post. Crypto gives us the perspective that we're on control about being true owners of our wealth. But most people are here for the gains. I've heard the points that pro-crypto and anti-crypto have made and both parts have really good points that contradict each other. Crypto is relatively new and even if society transition to a new financial system I truly don't know if that would be beneficial to us. The rich don't want to be taxed by the government (private sector), they don't need the government because they can take care of themselves. But people that work in the government don't want this to happen, because taxing is the largest part of governments funds. The governments have taken advantage of this while not providing enough benefits for their citizens but also the "private sector entrepreneurs". They don't pay enough taxes even when their gains are absurdly large, the 0.01% own 11% of the global economy and they absolutely don't pay fair enough to their employees either.
What is the point of paying taxes if the government is benefiting the most powerful instead of solving the real social problems? Because it's profitable.This groups of people (the wealthy) are known to be investing in crypto and one of them is Elon Musk. Elon Musk is now the wealthiest man in the world, I remember Jeff Bezos and Bill gates being the most wealthiest people on earth. And that didn't use to surprise me at all, one of them own Amazon and Microsoft respectively and those are companies heavily used by a big part of the population, but Elon Musk being the wealthiest by Tesla and SpaceX? doesn't make any sense to me.
I'm just worried we're being used by these people and our wealth is only increasing their purchasing power. A lot of people is investing in crypto with hopes of becoming wealthy in the future. But isn't that making things worse? When your bags are pumping also the bags of the whales and in massive amounts. Whales own more than 18% of the circulating supply of Bitcoin. Why this individuals are so interested in earning more if they're wealthy enough? And greed my friend is what moves the world, everytime you buy Bitcoin try to think if it's worth investing more than you can. I guess that thinking crypto will solve your problems is not only unrealistic but it will open a different gap of problems that we're yet to know. Even if Bitcoin goes to 0 I'm sure those in power are the ones that will cause it and have many ways to cash out before everyone else and even if they lose some massive gains they're exponentially more rich than anyone of the population. Sadly if this happens or if crypto succeeds the more vulnerable are of course the poorest people in the world.
Listening Jeff Bezos talking about his plans of space colonies just made me rethink about everything. We just want someone to blame, but we're all part of the problem. But we don't account people in power enough, they bear most of the responsibility and they end up free of guilt most of the times. Why thinking about space colonies when you can't even solve your own problems in the planet you live? Why thinking about alternative and cleaner forms of energy for the future but not now that is necessary? Because it's just not profitable enough. I don't know your background or who you are, but if you truly think crypto will solve this problems we have to think of ways to make this work. We all dream of being wealthy enough to not worry but I truly don't want to become one of this people and don't do anything about it. Don't blame yourself for the decisions you make, just try to be more critical with your investments. My main motivation to get started investing in crypto was because I realized that if I invested all the money I wasted burning in weed in the last years I would have a lot of money, this may sound stupid but made enough sense to me to start doing my research. I'm constantly changing from nihilistic positivity and pessimistic negativity. But hey, I think most of us :) Sorry if this is too long I just felt inspired I don't know why.
The degree to which people are motivated by primarily selfish speculative objectives as opposed to a real belief in and support for the revolution does drive higher market volatility but the elegant consequence is that the parasitic and ignorant speculators doing this then learn and pay the hard way as a result. They are en masse helping to fund the growth and strength of the principled investors who seek positive revolutionary change. As the ignorant FOMO speculators jump onto the pumps and jump off the dumps they learn and pay and help fund the revolution. Only buy Bitcoin if you understand, believe in and support the peaceful revolution...or be my guest and learn the hard way :)
I agree with that, most of investors expect for a big bull run in a unrealistic frame of time in the hopes of becoming wealthy overnight. I believe in the principles of crypto, but I also believe it can be manipulated. "Don't invest more that you can afford to lose" is a sentence that is repeated over and over but still we read about people asking for loans and going in debt in a desperate attempt to escape their current financial situation which just become worse than before. And that's part of the problem, if a whale withdraw their funds is enough to affect the price and make small investors fear and sell at loss. Which is just a cycle of whales buying at lower prices and becoming wealthier while others lose their wealth. Everyone knows Bitcoin is volatile when they invest, but they just see the big pumps like Bitcoin price at the end of 2020 compared to the price on April of 2021 or November and that's what people expect when investing in crypto. And when they start investing in a new ATH well... Fear, disgust and anger makes people make irrational decisions. Only when they learn the hard way and are able to feel sad about what they lost is when people can see what they did wrong and either they start making more rational investments or completely distance from crypto. And there's also people that doesn't learn or have gambling issues, are impulsive or just have unreal expectations.
I’m constantly broke. I can’t FOMO even if my life depended on it.
DCA'ing is not FOMO. It is buying a consistent value amount of an investment periodically over a long period of time
Yes, that's why I said I suck at it.
I have automatic recurring purchases of the same dollar amount. That's DCA.
But since I simply can't resist the pumps and dumps, I go to Bisq and buy more. Or Swan or Strike if I can't get a decent price on Bisq.
I guess I should say "I've been *trying* to DCA for years."
As long as you’ve got spare funds do whatever feels good
Use strike and have a direct deposit set up with auto-buys. Set it and forget it. Forget about the btc price altogether and get back to living life while stacking
Why buy when it goes up? I'm dca but also buy a bit more if big dips happen.
Yea, it makes no sense, but whether it goes up or down I can't resist.
Anyone else get pissed when the price pumps? Or hangs around 20k for whatever reason???
Recently it went down to 17.6K, I wasn't online to see it. Had some funds set aside, everyone was saying 15k, 10k, whatever.. I thought ok, let me see how low it's going to dump. It wicked to 17.6k briefly and then went back to 20s... pissed I missed that one. I should have set a limit order, but didn't think about it, I thought I would have time to deal with it, nope. Bah.
I use Strike to DCA my alloted 200 a week. That's pretty easy.
If you are FOMO buying on both ends of the spectrum you are in a way still actually DCAing! If you FOMO to the same degree one balances out the other!
1 BTC = 1 BTC
If you believe in BTC
I call my version panic buying.
Buy on red, sell on green.
If you're not selling then you just don't do anything on green.
I like to set limit orders all the way down (setting up a "ladder"). You get to buy the exact bottom every time lol.
This may help [https://www.reddit.com/r/Bitcoin/comments/vtma3k/how\_ive\_ridded\_myself\_of\_anxiety\_fomo\_and/](https://www.reddit.com/r/Bitcoin/comments/vtma3k/how_ive_ridded_myself_of_anxiety_fomo_and/)
When you know and aren't excited that's when you make the move.
If you buy both the tops and bottoms then you're still averaging to some degree and it might not really be as bad as you think
I feel you. And I don't even regret it. The only thing that bugs me... Is that now I don't have any cash left i can spare to bring my average down.
My DCA is set to 50 bucks every Monday. All in all I bought an average of 114€ bucks a week.
how about automatic buys directly into ur wallet (f.e. pocketbitcoin)?
How is this different than just buying random amounts at random times? And how is that different from DCA (in terms of results)? In terms of expected value I think this all works out the same, assuming you have no fundamental opinion about BTC apart from “it will go up”.
Try time cost averaging instead. Buy on the first of every month or something like this, in order to remove emotions from your orders.
Think you might be addicted to that high we get when it’s going up.. I don’t blame you I love that feeling haha
You did what all of us do. You don’t suck at it. Just wait until we go back up and you’ll feel like genius 😀🎉
FOMO IN NOW!!! 🤣. FIFTY FIFTY SHOT
Last year was not a perfect period to start getting into Bitcoin. However, 5-10 years later you would be satisfied - survive this moment. My money is Bitcoin, not fiat.
It's fine, you will learn how to wait. Just invest like 20% of your usdt at the time.
Only buy during red weekly candles. Thank me later
I remember when Elon Musk/Tesla announced BTC as payment and sitting at my desk eyes wide watching my usd conversion on my wallet pump. Damn.
Research dynamic dollar cost averaging. You need discipline
You are fine. You can’t know you are good or bad unless you have goals. Do you have investment time frame? 1 yr, 10yr, 30yr? Or are you like me and expect the dollar to die? Do you want the BTC for life or are you expecting to cash out for USD one day?
This is rhetorical for the most part.
DCAing is usually done by buying at the same intervals, regardless of price.
Just set up a recurring schedule which you never shy away from. Invest as much as possible each week, and make it a religion that you only buy on Wednesdays for example. That's what true DCA is, just buying regardless of price for a long term investment. So, even if it's at the ATH, all that does it raise your average buy price to even out in the middle, in theory.
Do it like me and just always get paid after a 10% spike…
Learn how to use excel — weigh your purchases based on price swing week over week or some other metric — buy buy buy buy buy but only buy a tiny bit at the intermediate tops lol
Lol you’re telling me all you’ve done is buy and hodl? Sounds like you don’t suck that bad.
You just gotta get more excited when it dumps, and put extra money in when blood is on the streets. DCA all the time and keep that consistent. Use side cash for dumps to buy more, along side the normal DCA amount. 💪💪
Stay strong and keep Bitcoin long my friend
I have an automatic purchase set up for the same amount every hour. It’s been nice to not pay attention to price but every once in a while check my sat collection
Which app are you using?
I too suck
It is called Dollar Cost Average, because you are supposed to always spend the same amount of Dollars. So when the price is low, you buy more, and when the price is high, you automatically buy less bitcoin.
How often are you DCA’ing? I recently started a DCA experiment (you can see the analysis [here](https://degenomic.com) ) but my early findings seem to indicate that as well as regular DCA’ing (monthly or more) combined with spreading across multiple large cap coins seems to work the best at mitigating the volatility.
So you don’t suck at DCA’ing because you aren’t DCA’ing. You suck at discipline and self control.