Buy Buy Buy or Sell Sell Sell?

[GIF-JOBS]

Furthermore, as a Bitcoin investor, we should try to be stacking up our emergency funds the Same way we are buying weekly or monthly, so that our emergency funds will be big enough to carry what ever storm or financial crisis that may arise in the future.

You may be right when you talked about stacking up our emergency funds, I feel like an investor should be more interested in stacking up his/her discretionary fund so as to enable us buy in routine without  seizing, because is very rare Before emergency issues can come up, why expenses comes everyday and is through our discretionary income that we can use to make those expenses which is why our discretionary funds need to be more larger than that of emergency funds but our emergency funds need to be available at anytime because emergency is unforeseen" no one knows when it will occur.

You are mistaken discretionary income for something else and I will trying to explain so that you don't run into problems. When you receive some cash such as net salary after all obligatory deductions, from this fund you are supposed to remove the money for your basic needs such as food, utility bills and others. After removing the funds for your basic needs, what is left is called discretionary income. It is from this discretionary income you decide what to set aside as emergency funds, what to invest in Bitcoin and what to set aside as reserve funds if you want to go that route. The emergency funds is not necessarily for investment in Bitcoin but can best be described as a protection for your investment because that is what you will use to attend to issues that may come up which you did not plan for in the beginning. It will prevent you from selling your Bitcoin over minor such issues that is why it is very necessary.

Investors create emergency funds so that they can maintain continuity in their investments. People can experience economic downturns at times and when a person experiences an economic downturn, they will naturally not be able to invest in Bitcoin continuously. But those who are very serious about their investments never want their investments to be irregular no matter how much economic hardship comes in their lives. That is why when they have a lot of money, they keep a part of that money aside and consider that part as an emergency fund. However, it may not be possible for everyone to create an emergency fund because not everyone's financial situation is the same or everyone's income is the same. Those who create an emergency fund and invest will undoubtedly be much ahead in reaching their goals, but those who cannot do so try to reach their goals.

In an investment, it is definitely necessary to have an emergency fund, an emergency fund should be considered as part of an investment. If you want to invest in Bitcoin for the long term, then you need to think about this emergency fund as part of your Bitcoin investment, is reality not a Bitcoin investment, but I just mean it this way, so that an investor gives it the utmost importance to keep this emergency fund. Yes, not everyone's financial situation is the same, but there are many who, despite their financial situation good, but even that they avoid preparing an emergency fund, which is a very wrong decision, because the importance of an emergency fund to keep an investment in a long-term continuity is immense.

[Tungbulu]

[edited out]

✂️ ✂️✂️✂️

It seems to be that bitcoin does not have any specific marketing team, while at the same time, there seems to be a decent number of folks who are still spreading the word about bitcoin, and sure if we are holders of bitcoin, we can still benefit indirectly from the ongoing spreading and/or rippling effects of the spreading the word about bitcoin.

Fascinating right?
Yes, The decentralized nature of Bitcoin also means that there are no traditional marketing team responsible for the publicity of Bitcoin or helping to push its adoption. That is why this role is taken up by the collective effort of its community, particularly those who have really understood the technology and its underlying potentials and benefits, that also includes investors and enthusiasts.

Those who has acquired one or various knowledge and experiences about Bitcoin and decided to share it with others has in one way or the other contributed to Bitcoin's growing awareness and adoption. This approach has in one way or another created a ripple effect,  where even more people (who originally didn't know about Bitcoin or its potentials) now get the chance to learn about Bitcoin and it's potentials and are also inspired to explore the technology further without having to pay for it.

This organic growth can also have a direct benefit to those who are currently Hodling the asset because the more new people learn and venture into bitcoin, the more demand increases, the price is pumped and the greater the mainstream recognition. By participating in online communities such as this very one, real world conversations and even social media, investors now have the chances to in one way or the other amplify the Gospel and also use that medium to attract and win over new users, which of course is directly contributing to the ecosystem's growth and maturity.

[JayJuanGee]

[edited out]

✂️ ✂️✂️✂️

It seems to be that bitcoin does not have any specific marketing team, while at the same time, there seems to be a decent number of folks who are still spreading the word about bitcoin, and sure if we are holders of bitcoin, we can still benefit indirectly from the ongoing spreading and/or rippling effects of the spreading the word about bitcoin.

Fascinating right?
Yes, The decentralized nature of Bitcoin also means that there are no traditional marketing team responsible for the publicity of Bitcoin or helping to push its adoption. That is why this role is taken up by the collective effort of its community, particularly those who have really understood the technology and its underlying potentials and benefits, that also includes investors and enthusiasts.

Those who has acquired one or various knowledge and experiences about Bitcoin and decided to share it with others has in one way or the other contributed to Bitcoin's growing awareness and adoption. This approach has in one way or another created a ripple effect,  where even more people (who originally didn't know about Bitcoin or its potentials) now get the chance to learn about Bitcoin and it's potentials and are also inspired to explore the technology further without having to pay for it.

This organic growth can also have a direct benefit to those who are currently Hodling the asset because the more new people learn and venture into bitcoin, the more demand increases, the price is pumped and the greater the mainstream recognition. By participating in online communities such as this very one, real world conversations and even social media, investors now have the chances to in one way or the other amplify the Gospel and also use that medium to attract and win over new users, which of course is directly contributing to the ecosystem's growth and maturity.

It is funny that with no marketing team, the recipient of the varying messages about bitcoin has to be able to sort the bad information from the good information, so if you ask any random person off of the street about bitcoin, some will have hardly any clue about it, and others won't know how to distinguish bitcoin from shitcoins, and even some folks who know about bitcoin are not able to distinguish it from shitcoins, which may well be part of the reason that a decent number of folks get burnt by shitcoins and/or by trading before figuring out that bitcoin is the signal and the variations of shitcoins, derivatives and/or trying to trade bitcoin is the noise.

The opportunities come to those persons who are able to sort through the information and act in such a way as to focus on the ongoing accumulation of bitcoin until they reach an overaccumulation status..,. but yeah, the free information does not necessarily put anyone on the correct path if they are not able to distinguish better information from worse information and also act in such a way to accumulate bitcoin, just like in the last 10 years, it did not end up doing anyone a whole hell of a lot of good if they failed/refused to take at least some reasonable measures to sufficiently and/or adequately stack bitcoin. 

Of course, investing 25% or more of their income into bitcoin would have been more than aggressive enough, even though 10% would have also been enough for anyone starting to invest 9 years ago or more.  For example a guy with a $50k per year income who started investing into bitcoin at $100 per week (which is 10%) in April 2016 would have had invested $47k, and would have had accumulated 11.67 BTC. 

11.67 BTC is currently enough to generate an income of nearly $55.5k per year based on a 200-WMA value of $555k and a BTC spot price value of $1.3 million.  Such guy could keep stacking and build a bit of a higher cushion or he could choose to start to withdraw at a lower rate so that his ability to withdraw greater amounts of BTC is growing faster than his withdrawal rate.  the guy has decent options with that level of accumulation, yet he surely is just at the threshold level of overaccumulation rather than having some additional cushion amount of extra, which might be what some guys would prefer prior to starting any kind of an attempt at sustainable withdrawal whether price-based or time-based, and surely the less of an overaccumulation status that a guy has achieved, then price-based withdrawal would be easier to justify carrying out rather than time-based sustainable withdrawal.

My own recommendations have been for more recent entrants to go more aggressive with their bitcoin accumulation, even though surely there are folks who are ONLY able to be so aggressive in terms of limitations in their own discretionary income, and if they merely have an ability to invest around 10% of their income into bitcoin, then these days and in recent times, it is likely going to take them at least 3 to 4 bitcoin cycles to get to a place where they might be able to start to live off of their bitcoin in a sustainable way, even though historically, they might have been able to achieve an ability to live off of their bitcoin from merely a 10% investment after 2 cycles and maybe even less.. and yeah, of course, bitcoin is not ONLY about number go up, even though surely number go up is a nice motivator that incentivizes normies to get started accumulating BTC. and then hopefully keeps them incentivized to continue to accumulate and hold the bitcoin that they had accumulated until they reach an overaccumulation status....

[Bitcoin.com97]

[edited out]

In our previous discussion I talked about how I have other investment that I make profit from, I would have like to describe in detail but since you said that I do not need to give my specifics, I think there would be no need to describe it any more for safety purpose since everything remain private here, I wouldn't want to describe any of my circumstances.

It is up to you regarding the amount of details that you might want to give, and sometimes it can be helpful to figure out what you might be weighing in terms of what you believe to be relevant factors - especially in regards to any of your personal factors, and it can take some time to flesh out your various personal factors and even to adjust them to circumstances as they change and also how your assessment of various circumstances might change..

At first I was finding it difficult to invest into Bitcoin since I don't have a good knowledge about Bitcoin, but Last week I invested $10 with the help of my brother, I plan to increase my investment to $20 and above as time goes on, but for now since I am new to Bitcoin and don't know much on how to buy bitcoin myself I will be learning on how to buy Bitcoin from exchange and send to private wallet, to get started with to avoid revealing my safety to a third party, I am just being careful to avoid mistakes.

As long as you have at least $10 per week of extra discretionary income that you don't necessarily need for other things (including expenses that might come up in the current month or into the future), then you can start out with $10 per week, and to potentially increase the amounts as you become more comfortable.  Depending on the exchange that you are using, you might be comfortable allowing your bitcoin holdings build up to $500 or more before you transfer to your own private wallet, and so surely you may have to consider which wallet that you are going to want to use .. while you are continuing to buy on a weekly basis.

It is hard to understand you correctly but If I get you right, you are advising me to keep accumulating Bitcoin in exchange UpTo $500 before I can send to my private wallet? If that is what you mean, then it will be good. It will save me the cost of transaction fee because I learnt that if I continue buying and sending to my private wallet it will cost me a huge transaction fee. But accumulating $500 in my exchange wallet before sending to my private wallet will be a nice idea. But to achieve that, it will take a little time maybe 12 months. And the private wallet I used the last time was electrum wallet. Maybe I will stick to it.

[sotelorene]

I just take the normal one but it has enough accuracy in this case, namely by looking at the Sentiment (Index) Fear & Greed Index so by combining them a Smart DCA strategy pattern was born.

Your comment makes little to no sense, since there is no need to look at market sentiment or other BTC price dynamics in order to engage in reasonable (or smart) DCA practices.  Your DCA practices do not necessarily get better based on your trying to time the market or to figure out BTC price dynamics, and instead you may well be screwing up your BTC accumulation practices by failing/refusing to consistently, persistently, regularly, ongoingly and perhaps even aggressively buy bitcoin.

Yes, this is so true and exactly my point from my previous post., It absolutely makes no sense for an investor whose initial strategy of investing in long term with the DCA method of accumulation and holding to be emotional about the market volatility and at such you turn to the sentiment fear and greed index. It will obviously have a great effect in your level of accumulation because at that time you make such harsh decision, you’re no longer going to be consistent in your accumulation either weekly or monthly and before you know it you might end up abandoning your investment because you’re now waiting to buy in the dip which is a very wrong approach for an investor with the mindset of investing consistently for a long term goal, such mindset is conceived by traders who only want to make quick profit and it’s a very wrong decision especially as it concerns the DCA method of accumulation.

The funny thing is that the recent price  is still early for long term investment, and the market literally create a lot of dip before this recent ATH . But still a lot folks didn’t grasp the opportunity to be aggressive then rather they where waiting for more dip and they end up missing out , now bitcoin around the range of $110k.

Though bitcoin will continue to do correction but there’s certain price it won’t fall back again so better you take abt opportunity you have now .

this is exactly the reason why it is not advisable  for newbies to be waiting for bitcoin to dip before they can get start accumulating bitcoin to hold for long term,  they will be disappointed just as those newbies where waiting and hoping that bitcoin will dip before them can get started, and those investors too who sold there bitcoin and hoping to buy back when bitcoin dip where also disappointed, bitcoin is already a store of Val with potential returns so why waiting for dips to get start, and selling to buy back cheap, this stage is to be accumulating bitcoin consistently using the DCA method and hold for long term and not the stage to sell to buy back cheap, because that price you are wetting for to buy back won't come.

You don't have to put it on newbie, not only newbie waits for Bitcoin to Dip before they invest some other investors that are not newbie also wait for Bitcoin to Dip before they invest and I consider these people as people that don't understand what Bitcoin is and how it works because anyone that understand how Bitcoin works won't wait for it to Dip because you can not predict what will happen the next minute or second, that is how volatile Bitcoin is and so waiting for it to Dip when the DCA method is available is totally a waste of time and a lots of opportunities will be missed out.

[Sticky Bomb]

Furthermore, as a Bitcoin investor, we should try to be stacking up our emergency funds the Same way we are buying weekly or monthly, so that our emergency funds will be big enough to carry what ever storm or financial crisis that may arise in the future.

You may be right when you talked about stacking up our emergency funds, I feel like an investor should be more interested in stacking up his/her discretionary fund so as to enable us buy in routine without  seizing, because is very rare Before emergency issues can come up, why expenses comes everyday and is through our discretionary income that we can use to make those expenses which is why our discretionary funds need to be more larger than that of emergency funds but our emergency funds need to be available at anytime because emergency is unforeseen" no one knows when it will occur.

You are mistaken discretionary income for something else and I will trying to explain so that you don't run into problems. When you receive some cash such as net salary after all obligatory deductions, from this fund you are supposed to remove the money for your basic needs such as food, utility bills and others. After removing the funds for your basic needs, what is left is called discretionary income. It is from this discretionary income you decide what to set aside as emergency funds, what to invest in Bitcoin and what to set aside as reserve funds if you want to go that route. The emergency funds is not necessarily for investment in Bitcoin but can best be described as a protection for your investment because that is what you will use to attend to issues that may come up which you did not plan for in the beginning. It will prevent you from selling your Bitcoin over minor such issues that is why it is very necessary.

Investors create emergency funds so that they can maintain continuity in their investments. People can experience economic downturns at times and when a person experiences an economic downturn, they will naturally not be able to invest in Bitcoin continuously. But those who are very serious about their investments never want their investments to be irregular no matter how much economic hardship comes in their lives. That is why when they have a lot of money, they keep a part of that money aside and consider that part as an emergency fund. However, it may not be possible for everyone to create an emergency fund because not everyone's financial situation is the same or everyone's income is the same. Those who create an emergency fund and invest will undoubtedly be much ahead in reaching their goals, but those who cannot do so try to reach their goals.

You don't need lots of money to create and emergency fund and remember, it's built over a range of time, some people can even take up to a year to build out 3 months expenses worth of emergency funds and some can take more. A person who has $50 discretionary income can invest $30 periodically, use $7 for emergency fund and the rest to build out variances of backup funds and floating cash that he wants.

No matter how small your discretionary income is, you should always bring out a portion of it for Bitcoin investment, another portion for emergency fund and other backup funds. Consistently doing so would see your emergency fund accumulate to bigger amounts after a while and you still be expanding your portfolio with your consistent buys. Emergency fund is not an option in Bitcoin investment, it's a necessity.

[JayJuanGee]

[edited out]

In our previous discussion I talked about how I have other investment that I make profit from, I would have like to describe in detail but since you said that I do not need to give my specifics, I think there would be no need to describe it any more for safety purpose since everything remain private here, I wouldn't want to describe any of my circumstances.

It is up to you regarding the amount of details that you might want to give, and sometimes it can be helpful to figure out what you might be weighing in terms of what you believe to be relevant factors - especially in regards to any of your personal factors, and it can take some time to flesh out your various personal factors and even to adjust them to circumstances as they change and also how your assessment of various circumstances might change..

At first I was finding it difficult to invest into Bitcoin since I don't have a good knowledge about Bitcoin, but Last week I invested $10 with the help of my brother, I plan to increase my investment to $20 and above as time goes on, but for now since I am new to Bitcoin and don't know much on how to buy bitcoin myself I will be learning on how to buy Bitcoin from exchange and send to private wallet, to get started with to avoid revealing my safety to a third party, I am just being careful to avoid mistakes.

As long as you have at least $10 per week of extra discretionary income that you don't necessarily need for other things (including expenses that might come up in the current month or into the future), then you can start out with $10 per week, and to potentially increase the amounts as you become more comfortable.  Depending on the exchange that you are using, you might be comfortable allowing your bitcoin holdings build up to $500 or more before you transfer to your own private wallet, and so surely you may have to consider which wallet that you are going to want to use .. while you are continuing to buy on a weekly basis.

It is hard to understand you correctly but If I get you right, you are advising me to keep accumulating Bitcoin in exchange UpTo $500 before I can send to my private wallet? If that is what you mean, then it will be good. It will save me the cost of transaction fee because I learnt that if I continue buying and sending to my private wallet it will cost me a huge transaction fee. But accumulating $500 in my exchange wallet before sending to my private wallet will be a nice idea. But to achieve that, it will take a little time maybe 12 months. And the private wallet I used the last time was electrum wallet. Maybe I will stick to it.

Ultimately, you have to figure out your risk tolerance, since whenever you have your bitcoin with someone else, then there can be potential issues with your access to the coins, yet I do think that it is a good idea to NOT have a bunch of small UTXOs, and you can figure out if you are willing to tolerate keeping up to $500 of value of your bitcoin held on an exchange, or if you might want to transfer it off at a lower amount.

In the beginning of my bitcoin investment (late 2013 and into 2014), I used to have more than 50% of my bitcoin on exchanges, yet as my bitcoin quantity and value grew, I became more and more uncomfortable holding that much of my value on exchanges. Little by little I decreased the quantity of BTC that I held on exchanges and through third parties.

Currently, I hold around less than 5% of the total value of my BTC on exchanges (or with 3rd party custodians).  There also can be some value to have more than one exchange in case you have problems with one of your exchanges, but sure, if you are ONLY buying $10 worht of bitcoin per week, you are not dealing with high levels of value, so it might be understandable that you might not have more than one exchange until some point later down the road... so in that regard, the longer that you are in bitcoin then the more you might learn about various exchange options and to try to use other options, including just testing them out so that you know about them.

[Sonia_123]

[edited out]

In our previous discussion I talked about how I have other investment that I make profit from, I would have like to describe in detail but since you said that I do not need to give my specifics, I think there would be no need to describe it any more for safety purpose since everything remain private here, I wouldn't want to describe any of my circumstances.

It is up to you regarding the amount of details that you might want to give, and sometimes it can be helpful to figure out what you might be weighing in terms of what you believe to be relevant factors - especially in regards to any of your personal factors, and it can take some time to flesh out your various personal factors and even to adjust them to circumstances as they change and also how your assessment of various circumstances might change..

At first I was finding it difficult to invest into Bitcoin since I don't have a good knowledge about Bitcoin, but Last week I invested $10 with the help of my brother, I plan to increase my investment to $20 and above as time goes on, but for now since I am new to Bitcoin and don't know much on how to buy bitcoin myself I will be learning on how to buy Bitcoin from exchange and send to private wallet, to get started with to avoid revealing my safety to a third party, I am just being careful to avoid mistakes.

As long as you have at least $10 per week of extra discretionary income that you don't necessarily need for other things (including expenses that might come up in the current month or into the future), then you can start out with $10 per week, and to potentially increase the amounts as you become more comfortable.  Depending on the exchange that you are using, you might be comfortable allowing your bitcoin holdings build up to $500 or more before you transfer to your own private wallet, and so surely you may have to consider which wallet that you are going to want to use .. while you are continuing to buy on a weekly basis.

It is hard to understand you correctly but If I get you right, you are advising me to keep accumulating Bitcoin in exchange UpTo $500 before I can send to my private wallet? If that is what you mean, then it will be good. It will save me the cost of transaction fee because I learnt that if I continue buying and sending to my private wallet it will cost me a huge transaction fee. But accumulating $500 in my exchange wallet before sending to my private wallet will be a nice idea. But to achieve that, it will take a little time maybe 12 months. And the private wallet I used the last time was electrum wallet. Maybe I will stick to it.

It is not wise to keep your Bitcoin in an exchange, because it involves a third party, and if we can remember Bitcoin was not created to have a third party system, therefore it is risky keeping your coins in an exchange, and even if it's necessary it's should be a very small quantity that if denied access will not affect you.
It is better to keep your Bitcoin in your private wallet than in an exchange, where you can have access and control of it whenever you want it.

[JayJuanGee]

[edited out]

It is not wise to keep your Bitcoin in an exchange, because it involves a third party, and if we can remember Bitcoin was not created to have a third party system, therefore it is risky keeping your coins in an exchange, and even if it's necessary it's should be a very small quantity that if denied access will not affect you.
It is better to keep your Bitcoin in your private wallet than in an exchange, where you can have access and control of it whenever you want it.

It is problematic, also, to send many small transactions to private wallets, including that Bitcoin.com97 mentioned that he was buying $10 per week, and so how often would you suggest that he sends his transactions to a private wallet?  Every week?  Month?  Quarter?  twice a year?  what? If he is consistently investing $10 per week, then that would be $40-$50 per month, around $130 per quarter., $260 per 6 months and $520 per year.

[Gost ms]

Investors create emergency funds so that they can maintain continuity in their investments. People can experience economic downturns at times and when a person experiences an economic downturn, they will naturally not be able to invest in Bitcoin continuously. But those who are very serious about their investments never want their investments to be irregular no matter how much economic hardship comes in their lives. That is why when they have a lot of money, they keep a part of that money aside and consider that part as an emergency fund. However, it may not be possible for everyone to create an emergency fund because not everyone's financial situation is the same or everyone's income is the same. Those who create an emergency fund and invest will undoubtedly be much ahead in reaching their goals, but those who cannot do so try to reach their goals.

It doesn't take a lot of money to build an emergency fund. If you want, you can build an emergency fund over a long period of time along with investing. For example, you can invest 80% of your discretionary income and create an emergency fund of 20%. You can build an emergency fund gradually and you need to keep 3 times your stable income in the emergency fund.

I think there is no greater fool than a person who does not build an emergency fund after investing. Because by doing so, he is putting his holdings at risk. Because if he does not have enough money to face a financial disaster, he will be forced to sell his holdings.

[Moreno233]

Investors create emergency funds so that they can maintain continuity in their investments. People can experience economic downturns at times and when a person experiences an economic downturn, they will naturally not be able to invest in Bitcoin continuously. But those who are very serious about their investments never want their investments to be irregular no matter how much economic hardship comes in their lives. That is why when they have a lot of money, they keep a part of that money aside and consider that part as an emergency fund. However, it may not be possible for everyone to create an emergency fund because not everyone's financial situation is the same or everyone's income is the same. Those who create an emergency fund and invest will undoubtedly be much ahead in reaching their goals, but those who cannot do so try to reach their goals.

It doesn't take a lot of money to build an emergency fund. If you want, you can build an emergency fund over a long period of time along with investing. For example, you can invest 80% of your discretionary income and create an emergency fund of 20%. You can build an emergency fund gradually and you need to keep 3 times your stable income in the emergency fund.

Emergency is not built differently dear, it is estimated from your income after you have removed funds for your basic needs and investment money. You are at liberty to estimate what you should use for emergency. Don't make it look complicated that one have to build emergency funds separately before even getting started with Bitcoin investment. As long as you have discretionary income, you don't have a problem. investing in Bitcoin, start with any convenient amount and then keep the rest as emergency fund to cover for cases of emergencies where you need to spend money not planned for when you are holding your investment. This is the whole idea of emergency funds.

If we go with the idea of building emergency funds separately, people may think that there must be a fixed amount you must have as emergency fund before buying Bitcoin. This can even make some people give up the idea of buying Bitcoin thinking that they may not be able to get the emergency funds.  We must make it clear that emergency funds vary from individual to individual. For instance, someone married and with children may need bigger emergency funds than a single person who have little responsibilities. Just check your spending habits and your cashflow to get idea of what your emergency funds should be and you will be fine.

[Futurexxx]

[edited out]

In our previous discussion I talked about how I have other investment that I make profit from, I would have like to describe in detail but since you said that I do not need to give my specifics, I think there would be no need to describe it any more for safety purpose since everything remain private here, I wouldn't want to describe any of my circumstances.

It is up to you regarding the amount of details that you might want to give, and sometimes it can be helpful to figure out what you might be weighing in terms of what you believe to be relevant factors - especially in regards to any of your personal factors, and it can take some time to flesh out your various personal factors and even to adjust them to circumstances as they change and also how your assessment of various circumstances might change..

At first I was finding it difficult to invest into Bitcoin since I don't have a good knowledge about Bitcoin, but Last week I invested $10 with the help of my brother, I plan to increase my investment to $20 and above as time goes on, but for now since I am new to Bitcoin and don't know much on how to buy bitcoin myself I will be learning on how to buy Bitcoin from exchange and send to private wallet, to get started with to avoid revealing my safety to a third party, I am just being careful to avoid mistakes.

As long as you have at least $10 per week of extra discretionary income that you don't necessarily need for other things (including expenses that might come up in the current month or into the future), then you can start out with $10 per week, and to potentially increase the amounts as you become more comfortable.  Depending on the exchange that you are using, you might be comfortable allowing your bitcoin holdings build up to $500 or more before you transfer to your own private wallet, and so surely you may have to consider which wallet that you are going to want to use .. while you are continuing to buy on a weekly basis.

It is hard to understand you correctly but If I get you right, you are advising me to keep accumulating Bitcoin in exchange UpTo $500 before I can send to my private wallet? If that is what you mean, then it will be good. It will save me the cost of transaction fee because I learnt that if I continue buying and sending to my private wallet it will cost me a huge transaction fee. But accumulating $500 in my exchange wallet before sending to my private wallet will be a nice idea. But to achieve that, it will take a little time maybe 12 months. And the private wallet I used the last time was electrum wallet. Maybe I will stick to it.

It is not wise to keep your Bitcoin in an exchange, because it involves a third party, and if we can remember Bitcoin was not created to have a third party system, therefore it is risky keeping your coins in an exchange, and even if it's necessary it's should be a very small quantity that if denied access will not affect you.
It is better to keep your Bitcoin in your private wallet than in an exchange, where you can have access and control of it whenever you want it.

Keeping your Bitcoin in an exchange is really an unwise thing to do because if anything happens to that exchange in question, like hacking or internal theft, or like in the case of FTX, just know that you asset is gone, that's why it's advice to store your Bitcoin in a self custodian wallet like electrum where only you have access to, and one funny thing is that, most investors have heard of this statement before which is not your key, Not your coin, but they really don't understand what that statement mean, but in essence of all am trying to say is that keeping our Bitcoin in an exchange is a terrible mistake we should avoid by all means because once that exchange goes down, at that moment, your asset are gone.

[BlackBoss_]

Keeping your Bitcoin in an exchange is really an unwise thing to do because if anything happens to that exchange in question, like hacking or internal theft, or like in the case of FTX, just know that you asset is gone, that's why it's advice to store your Bitcoin in a self custodian wallet like electrum where only you have access to

FTX is very big black swan event from a centralized exchange but you can lose all your money without a big case like FTX. Fortunately, FTX users started to get compensations from the exchange but in most cases of hacked exchanges, scam exit ones, bankrupted ones, you have to assume you will lose most or all your money.

It's very unrealistic to think that after a blackswan event, you will get full amount of your fund or most of it back.

and one funny thing is that, most investors have heard of this statement before which is not your key, Not your coin, but they really don't understand what that statement mean

They can understand it but they did not mind to practice properly according to security advice. They naively thougth that they will be well, and practiced carelessly until they lost money but at the accidental time, it's too late as Bitcoin transactions are irreversible. What lost is lost forever and can not be reversed.

[Jostern]

I just take the normal one but it has enough accuracy in this case, namely by looking at the Sentiment (Index) Fear & Greed Index so by combining them a Smart DCA strategy pattern was born.

Your comment makes little to no sense, since there is no need to look at market sentiment or other BTC price dynamics in order to engage in reasonable (or smart) DCA practices.  Your DCA practices do not necessarily get better based on your trying to time the market or to figure out BTC price dynamics, and instead you may well be screwing up your BTC accumulation practices by failing/refusing to consistently, persistently, regularly, ongoingly and perhaps even aggressively buy bitcoin.

Yes, this is so true and exactly my point from my previous post., It absolutely makes no sense for an investor whose initial strategy of investing in long term with the DCA method of accumulation and holding to be emotional about the market volatility and at such you turn to the sentiment fear and greed index. It will obviously have a great effect in your level of accumulation because at that time you make such harsh decision, you’re no longer going to be consistent in your accumulation either weekly or monthly and before you know it you might end up abandoning your investment because you’re now waiting to buy in the dip which is a very wrong approach for an investor with the mindset of investing consistently for a long term goal, such mindset is conceived by traders who only want to make quick profit and it’s a very wrong decision especially as it concerns the DCA method of accumulation.

The funny thing is that the recent price  is still early for long term investment, and the market literally create a lot of dip before this recent ATH . But still a lot folks didn’t grasp the opportunity to be aggressive then rather they where waiting for more dip and they end up missing out , now bitcoin around the range of $110k.

Though bitcoin will continue to do correction but there’s certain price it won’t fall back again so better you take abt opportunity you have now .

this is exactly the reason why it is not advisable  for newbies to be waiting for bitcoin to dip before they can get start accumulating bitcoin to hold for long term,  they will be disappointed just as those newbies where waiting and hoping that bitcoin will dip before them can get started, and those investors too who sold there bitcoin and hoping to buy back when bitcoin dip where also disappointed, bitcoin is already a store of Val with potential returns so why waiting for dips to get start, and selling to buy back cheap, this stage is to be accumulating bitcoin consistently using the DCA method and hold for long term and not the stage to sell to buy back cheap, because that price you are wetting for to buy back won't come.

You don't have to put it on newbie, not only newbie waits for Bitcoin to Dip before they invest some other investors that are not newbie also wait for Bitcoin to Dip before they invest and I consider these people as people that don't understand what Bitcoin is and how it works because anyone that understand how Bitcoin works won't wait for it to Dip because you can not predict what will happen the next minute or second, that is how volatile Bitcoin is and so waiting for it to Dip when the DCA method is available is totally a waste of time and a lots of opportunities will be missed out.

Some investors usually waits for a dip to be able to invest, but there is absolutely nothing wrong with buying when there is a dip, it’s an opportunity to accumulate more and increase our investment, but it’s completely wrong waiting for a dip which might never come, but it’s wise to start an investment if the dip never comes because we would be loosing a lot of opportunities that comes with making immediate investments, bitcoin is quite unpredictable that is why we should not wait to invest, we can be accumulating little by little as much as our discretionary funds can afford us. Waiting for that dip definitely makes us to loose opportunity of raising our level of confidence.

[Cossyblack]

[edited out]

In our previous discussion I talked about how I have other investment that I make profit from, I would have like to describe in detail but since you said that I do not need to give my specifics, I think there would be no need to describe it any more for safety purpose since everything remain private here, I wouldn't want to describe any of my circumstances.

It is up to you regarding the amount of details that you might want to give, and sometimes it can be helpful to figure out what you might be weighing in terms of what you believe to be relevant factors - especially in regards to any of your personal factors, and it can take some time to flesh out your various personal factors and even to adjust them to circumstances as they change and also how your assessment of various circumstances might change..

At first I was finding it difficult to invest into Bitcoin since I don't have a good knowledge about Bitcoin, but Last week I invested $10 with the help of my brother, I plan to increase my investment to $20 and above as time goes on, but for now since I am new to Bitcoin and don't know much on how to buy bitcoin myself I will be learning on how to buy Bitcoin from exchange and send to private wallet, to get started with to avoid revealing my safety to a third party, I am just being careful to avoid mistakes.

As long as you have at least $10 per week of extra discretionary income that you don't necessarily need for other things (including expenses that might come up in the current month or into the future), then you can start out with $10 per week, and to potentially increase the amounts as you become more comfortable.  Depending on the exchange that you are using, you might be comfortable allowing your bitcoin holdings build up to $500 or more before you transfer to your own private wallet, and so surely you may have to consider which wallet that you are going to want to use .. while you are continuing to buy on a weekly basis.

It is hard to understand you correctly but If I get you right, you are advising me to keep accumulating Bitcoin in exchange UpTo $500 before I can send to my private wallet? If that is what you mean, then it will be good. It will save me the cost of transaction fee because I learnt that if I continue buying and sending to my private wallet it will cost me a huge transaction fee. But accumulating $500 in my exchange wallet before sending to my private wallet will be a nice idea. But to achieve that, it will take a little time maybe 12 months. And the private wallet I used the last time was electrum wallet. Maybe I will stick to it.

It is not wise to keep your Bitcoin in an exchange, because it involves a third party, and if we can remember Bitcoin was not created to have a third party system, therefore it is risky keeping your coins in an exchange, and even if it's necessary it's should be a very small quantity that if denied access will not affect you.
It is better to keep your Bitcoin in your private wallet than in an exchange, where you can have access and control of it whenever you want it.

Ever since Centralized exchanges have become the primary targets for hackers,it unwise to save your Bitcoin assets in an exchange. Most Centralized exchanges that have been hacked in the past has been finding it difficult and are unable to refunds Users assets lost under their watch and as such the User asset is lost.Centralize Exchanges should be used to buy Bitcoin and after the purchase,the user should immediately move his BTC to his private wallet where his asset is safe and secured from future hacked. Sometimes people choose to stored their assets in CEX because of avoiding little fees charged from moving their assets into their private wallet of which I find it too risky because that period of keeping your assets in CEX, what if the exchange was hacked.So it's better to pay for the transaction fees than putting your valuable assets at risks.

[Ruttoshi]

[edited out]

In our previous discussion I talked about how I have other investment that I make profit from, I would have like to describe in detail but since you said that I do not need to give my specifics, I think there would be no need to describe it any more for safety purpose since everything remain private here, I wouldn't want to describe any of my circumstances.

It is up to you regarding the amount of details that you might want to give, and sometimes it can be helpful to figure out what you might be weighing in terms of what you believe to be relevant factors - especially in regards to any of your personal factors, and it can take some time to flesh out your various personal factors and even to adjust them to circumstances as they change and also how your assessment of various circumstances might change..

At first I was finding it difficult to invest into Bitcoin since I don't have a good knowledge about Bitcoin, but Last week I invested $10 with the help of my brother, I plan to increase my investment to $20 and above as time goes on, but for now since I am new to Bitcoin and don't know much on how to buy bitcoin myself I will be learning on how to buy Bitcoin from exchange and send to private wallet, to get started with to avoid revealing my safety to a third party, I am just being careful to avoid mistakes.

As long as you have at least $10 per week of extra discretionary income that you don't necessarily need for other things (including expenses that might come up in the current month or into the future), then you can start out with $10 per week, and to potentially increase the amounts as you become more comfortable.  Depending on the exchange that you are using, you might be comfortable allowing your bitcoin holdings build up to $500 or more before you transfer to your own private wallet, and so surely you may have to consider which wallet that you are going to want to use .. while you are continuing to buy on a weekly basis.

It is hard to understand you correctly but If I get you right, you are advising me to keep accumulating Bitcoin in exchange UpTo $500 before I can send to my private wallet? If that is what you mean, then it will be good. It will save me the cost of transaction fee because I learnt that if I continue buying and sending to my private wallet it will cost me a huge transaction fee. But accumulating $500 in my exchange wallet before sending to my private wallet will be a nice idea. But to achieve that, it will take a little time maybe 12 months. And the private wallet I used the last time was electrum wallet. Maybe I will stick to it.

It is not wise to keep your Bitcoin in an exchange, because it involves a third party, and if we can remember Bitcoin was not created to have a third party system, therefore it is risky keeping your coins in an exchange, and even if it's necessary it's should be a very small quantity that if denied access will not affect you.
It is better to keep your Bitcoin in your private wallet than in an exchange, where you can have access and control of it whenever you want it.

Ever since Centralized exchanges have become the primary targets for hackers,it unwise to save your Bitcoin assets in an exchange. Most Centralized exchanges that have been hacked in the past has been finding it difficult and are unable to refunds Users assets lost under their watch and as such the User asset is lost.Centralize Exchanges should be used to buy Bitcoin and after the purchase,the user should immediately move his BTC to his private wallet where his asset is safe and secured from future hacked. Sometimes people choose to stored their assets in CEX because of avoiding little fees charged from moving their assets into their private wallet of which I find it too risky because that period of keeping your assets in CEX, what if the exchange was hacked.So it's better to pay for the transaction fees than putting your valuable assets at risks.

You don't get the point here mate... Nobody is saying that you should keep your bitcoin in an exchange forever or turn it into your self custody wallet. You are not keeping it in an exchange because of the transaction fee of sending it to your self custody wallet now but to prevent you from spending almost all your profits in future for bitcoin transactions only when transaction fee will be very high in future and your many small small output will be very expensive to send.

This is why yoi are advised to be buying your bitcoin and accumulate it in an exchange tillit has reached $500 before sending it to your private wallet to save you from high transaction fee in future from consuming almost all your profits. You bitcoin long-term investment will be like a waste of time and money because you lack the proper knowledge on how to manage your UTXO.

There is no way a long-term investors who is on DCA with little amount wouldn't keep his coins in an exchange during his accumulation phase before he transfers them to his cold storage. How will you send your $50 worth of bitcoin to your wallet if the network is congested like in the past when Runes and BRC-20 token congested the network and transaction fees was fucking high. I bet you wouldn't dare try to send it to your private wallet and you should still expect such high transaction fee in future. This is why you should be prepared to get rid of high transaction fees in future. Keeping your bitcoin with third party for some few weeks or months is not a guarantee that you will lose your bitcoin.

[JayJuanGee]

Investors create emergency funds so that they can maintain continuity in their investments. People can experience economic downturns at times and when a person experiences an economic downturn, they will naturally not be able to invest in Bitcoin continuously. But those who are very serious about their investments never want their investments to be irregular no matter how much economic hardship comes in their lives. That is why when they have a lot of money, they keep a part of that money aside and consider that part as an emergency fund. However, it may not be possible for everyone to create an emergency fund because not everyone's financial situation is the same or everyone's income is the same. Those who create an emergency fund and invest will undoubtedly be much ahead in reaching their goals, but those who cannot do so try to reach their goals.

It doesn't take a lot of money to build an emergency fund. If you want, you can build an emergency fund over a long period of time along with investing. For example, you can invest 80% of your discretionary income and create an emergency fund of 20%. You can build an emergency fund gradually and you need to keep 3 times your stable income in the emergency fund.

Emergency is not built differently dear, it is estimated from your income after you have removed funds for your basic needs and investment money. You are at liberty to estimate what you should use for emergency. Don't make it look complicated that one have to build emergency funds separately before even getting started with Bitcoin investment. As long as you have discretionary income, you don't have a problem. investing in Bitcoin, start with any convenient amount and then keep the rest as emergency fund to cover for cases of emergencies where you need to spend money not planned for when you are holding your investment. This is the whole idea of emergency funds.

If we go with the idea of building emergency funds separately, people may think that there must be a fixed amount you must have as emergency fund before buying Bitcoin. This can even make some people give up the idea of buying Bitcoin thinking that they may not be able to get the emergency funds.  We must make it clear that emergency funds vary from individual to individual. For instance, someone married and with children may need bigger emergency funds than a single person who have little responsibilities. Just check your spending habits and your cashflow to get idea of what your emergency funds should be and you will be fine.

These explanation of building an emergency fund are not very clear.  Generally, most people will start their investment into bitcoin and they are likely to have some sort of a cash cushion that they maintain, and it might be 2-6 weeks of their income or 2-6 weeks of their expenses.. so that could be considered as their emergency fund.

The emergency fund is continued to be built up by putting more value into it, and that value comes from discretionary income. So the discretionary income can be used to buy more bitcoin, buy other goods/services that are wanted and/or used to continue to build the emergency fund.

There are several of us who seem to recommend that the bitcoin investor might be o.k. to build the emergency fund up at the same time that he is investing into bitcoin, so perhaps a person would minimally want the emergency fund to get built up to 3 months of his expenses, and it could take a year or more to get the emergency fund and the bitcoin investment to a point that they are each 3 months of expenses.. and even though the bitcoin investment may well continue to be built up after 3 months of expenses have been invested into it, there can also be various other more flexible back up funds that also continue to get built up and perhaps used from time to time, yet the other back up funds that are additional to the emergency funds will tend to be more flexible as to when or how they might be used.

Of course, there is discretion in regards to how anyone might build up their various back up funds and even their bitcoin investment, and surely it would be a good practice to make sure that emergency funds are not easily used absent an actual emergency of unexpected loss of income and/or increases in expenses, and if other back up funds are kept, it well could be the case that a person invests into bitcoin 15-20 years or more and never has to tap into his emergency funds, since his various other finances tend to be enough to take care of any fluctuations in the unexpected lessening of income and/or the increasing of expenses.

[edited out]

[edited out]

Keeping your Bitcoin in an exchange is really an unwise thing to do because if anything happens to that exchange in question, like hacking or internal theft, or like in the case of FTX, just know that you asset is gone, that's why it's advice to store your Bitcoin in a self custodian wallet like electrum where only you have access to, and one funny thing is that, most investors have heard of this statement before which is not your key, Not your coin, but they really don't understand what that statement mean, but in essence of all am trying to say is that keeping our Bitcoin in an exchange is a terrible mistake we should avoid by all means because once that exchange goes down, at that moment, your asset are gone.

(Repeated message, version 1) So if Bitcoin.com97 was saying that every week he was going to be buying $10 worth of bitcoin, then how frequently are you suggesting that he withdraws his bitcoin from the exchange?  Every week? month? quarter? twice a year? yearly?  or something else?

If Bitcoin.com97 sticks to $10 per week, then monthly withdrawals would be $40 to $50 each time.  Quarterly would be around $130.  Twice a year would be $260.  Yearly would be $520. What levels of withdrawal are you recommending Futurexxx?

Keeping your Bitcoin in an exchange is really an unwise thing to do because if anything happens to that exchange in question, like hacking or internal theft, or like in the case of FTX, just know that you asset is gone, that's why it's advice to store your Bitcoin in a self custodian wallet like electrum where only you have access to

FTX is very big black swan event from a centralized exchange but you can lose all your money without a big case like FTX. Fortunately, FTX users started to get compensations from the exchange but in most cases of hacked exchanges, scam exit ones, bankrupted ones, you have to assume you will lose most or all your money.

It's very unrealistic to think that after a blackswan event, you will get full amount of your fund or most of it back.

and one funny thing is that, most investors have heard of this statement before which is not your key, Not your coin, but they really don't understand what that statement mean

They can understand it but they did not mind to practice properly according to security advice. They naively thougth that they will be well, and practiced carelessly until they lost money but at the accidental time, it's too late as Bitcoin transactions are irreversible. What lost is lost forever and can not be reversed.

(Repeated message, version 2) So if Bitcoin.com97 was saying that every week he was going to be buying $10 worth of bitcoin, then how frequently are you suggesting that he withdraws his bitcoin from the exchange?  Every week? month? quarter? twice a year? yearly?  or something else?

If Bitcoin.com97 sticks to $10 per week, then monthly withdrawals would be $40 to $50 each time.  Quarterly would be around $130.  Twice a year would be $260.  Yearly would be $520. What levels of withdrawal are you recommending BlackBoss_?

[edited out]

[edited out]

Ever since Centralized exchanges have become the primary targets for hackers,it unwise to save your Bitcoin assets in an exchange. Most Centralized exchanges that have been hacked in the past has been finding it difficult and are unable to refunds Users assets lost under their watch and as such the User asset is lost.Centralize Exchanges should be used to buy Bitcoin and after the purchase,the user should immediately move his BTC to his private wallet where his asset is safe and secured from future hacked. Sometimes people choose to stored their assets in CEX because of avoiding little fees charged from moving their assets into their private wallet of which I find it too risky because that period of keeping your assets in CEX, what if the exchange was hacked.So it's better to pay for the transaction fees than putting your valuable assets at risks.

You believe that the ONLY cost of moving coins off of exchanges is the transaction fees?  What about the cost of having a bunch of small UTXOs?  Do you put any importance in regards to managing UTXO sizes? and/or questions of future transaction fees?

(Repeated message, version 3)   So if Bitcoin.com97 was saying that every week he was going to be buying $10 worth of bitcoin, then how frequently are you suggesting that he withdraws his bitcoin from the exchange?  Every week? month? quarter? twice a year? yearly?  or something else?

If Bitcoin.com97 sticks to $10 per week, then monthly withdrawals would be $40 to $50 each time.  Quarterly would be around $130.  Twice a year would be $260.  Yearly would be $520. What levels of withdrawal are you recommending Cossyblack?

[CageMabok]

It is not wise to keep your Bitcoin in an exchange, because it involves a third party, and if we can remember Bitcoin was not created to have a third party system, therefore it is risky keeping your coins in an exchange, and even if it's necessary it's should be a very small quantity that if denied access will not affect you.
It is better to keep your Bitcoin in your private wallet than in an exchange, where you can have access and control of it whenever you want it.

What you said is not wrong, but it will be a bit inconvenient for people who buy Bitcoins in small amounts through certain exchanges. Because every time the purchased Bitcoin is moved into a personal wallet, it will definitely require a small fee which if added up repeatedly will also be large. However, for those who can afford to buy in slightly larger amounts, I don't think it will be burdensome enough to always move it into a personal wallet every time they buy it from a certain exchange.

I also do not recommend storing any assets on an exchange to investors, but it may not be suitable for traders because they are more active on the exchange. But the best advice for everyone without exception is to keep it in a personal wallet and this does not only apply to Bitcoin, but also to other assets if the amount is large enough.

[Lembo69]

I just take the normal one but it has enough accuracy in this case, namely by looking at the Sentiment (Index) Fear & Greed Index so by combining them a Smart DCA strategy pattern was born.

Your comment makes little to no sense, since there is no need to look at market sentiment or other BTC price dynamics in order to engage in reasonable (or smart) DCA practices.  Your DCA practices do not necessarily get better based on your trying to time the market or to figure out BTC price dynamics, and instead you may well be screwing up your BTC accumulation practices by failing/refusing to consistently, persistently, regularly, ongoingly and perhaps even aggressively buy bitcoin.

Yes, this is so true and exactly my point from my previous post., It absolutely makes no sense for an investor whose initial strategy of investing in long term with the DCA method of accumulation and holding to be emotional about the market volatility and at such you turn to the sentiment fear and greed index. It will obviously have a great effect in your level of accumulation because at that time you make such harsh decision, you’re no longer going to be consistent in your accumulation either weekly or monthly and before you know it you might end up abandoning your investment because you’re now waiting to buy in the dip which is a very wrong approach for an investor with the mindset of investing consistently for a long term goal, such mindset is conceived by traders who only want to make quick profit and it’s a very wrong decision especially as it concerns the DCA method of accumulation.

The funny thing is that the recent price  is still early for long term investment, and the market literally create a lot of dip before this recent ATH . But still a lot folks didn’t grasp the opportunity to be aggressive then rather they where waiting for more dip and they end up missing out , now bitcoin around the range of $110k.

Though bitcoin will continue to do correction but there’s certain price it won’t fall back again so better you take abt opportunity you have now .

At this point, I know some people are regretting why they did not buy when the price of Bitcoin was lower than this just recently and Instead of using this opportunity to start investing, they are still listening to those who claim they can predict Bitcoin’s price by saying it will drop again.

Recently, when Bitcoin’s price was in the $80K range, I saw some set people saying the price would dip again, and they were advising others not to buy at that time. But I told some people who were willing to invest in Bitcoin for long term that it’s not about arguing whether Bitcoin will dip or not  but  point is that who know when the correction will happen or may the correction of bitcoin price may not go dip as they was think. And again nobody know when the bitcoin price will pump again and that is what i have happend recently just see from where bitcoin price picked to it new ATH.

Even though the price of Bitcoin has decreased in the middle, it is now more valuable than before. Those who were holding Bitcoin a few days ago were disappointed, those who could not invest or take advantage of the opportunity during the decreasing market price of Bitcoin have nothing to do but regret. However, the high market price does not mean that you cannot start investing. If you buy Bitcoin at the current 108k original price and start investing and hold it for a long time, you may not have to regret it anymore.

The market is right for investment at any time. Because if you are a Bitcoin holder, do not hesitate to invest in Bitcoin under any circumstances. Just like an entrepreneur does not succeed until he takes the initiative.

[JayJuanGee]

It is not wise to keep your Bitcoin in an exchange, because it involves a third party, and if we can remember Bitcoin was not created to have a third party system, therefore it is risky keeping your coins in an exchange, and even if it's necessary it's should be a very small quantity that if denied access will not affect you.
It is better to keep your Bitcoin in your private wallet than in an exchange, where you can have access and control of it whenever you want it.

What you said is not wrong, but it will be a bit inconvenient for people who buy Bitcoins in small amounts through certain exchanges. Because every time the purchased Bitcoin is moved into a personal wallet, it will definitely require a small fee which if added up repeatedly will also be large. However, for those who can afford to buy in slightly larger amounts, I don't think it will be burdensome enough to always move it into a personal wallet every time they buy it from a certain exchange.

I also do not recommend storing any assets on an exchange to investors, but it may not be suitable for traders because they are more active on the exchange. But the best advice for everyone without exception is to keep it in a personal wallet and this does not only apply to Bitcoin, but also to other assets if the amount is large enough.

Sure you have the movement from the exchange to the private wallet, and then once each of the UTXOs is in the private wallet, there is a matter of dealing with such UTXOs.. In the case of Bitcoin.com97, he was transacting with $10 each time. Do you see the issue of having UTXOs that are $10 each?

Do you know how fees work?  Anyone?

If you have 50 UTXOs that are $10 each, then you have $500, right?  What if the transaction fees are $10?  then how much do you have?  You have zero, since each of the UTXOs of $10 each is going to cost $10... and you ain't got shit.  At least if you have one UTXO with $500 then you would still have $490 after spending the transaction during times in which the fees might get up to $10.

Many guys seem to not understand the problem with multiple small UTXOs, even though they are proclaiming the purported evils of keeping coins on exchanges. 

Don't get me wrong, I am not much of a fan of third-party custody, yet I am a fan of both practicality and attempting to understand what you are dealing with in terms of the tradeoffs.

So go ahead CageMabok.  Tell us.

(Repeated message, version 4)  So if Bitcoin.com97 was saying that every week he was going to be buying $10 worth of bitcoin, then how frequently are you suggesting that he withdraws his bitcoin from the exchange?  Every week? month? quarter? twice a year? yearly?  or something else?

If Bitcoin.com97 sticks to $10 per week, then monthly withdrawals would be $40 to $50 each time.  Quarterly would be around $130.  Twice a year would be $260.  Yearly would be $520. What levels of withdrawal are you recommending CageMabok?