Buy Buy Buy or Sell Sell Sell?

[Futurexxx]

[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?

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

[JayJuanGee]

[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?

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

Well. yes you have to deal with the facts in front of you and not just imagine some other set of facts... so yeah, the facts are that Bitcoin.com97 said that he was buying $10 per week.

Another thing is that we are not just dealing with the fees to move the transaction from the exchange to the private wallet, we are dealing with how UTXOs are managed, which from your post, I doubt that you actually understand the issue of both current UTXO management and/or future potential issues with UTXO management.    Sure, maybe there is not any big problem to have some small UTXOs, yet I doubt that guys are even engaging in coin control, so they have no clue about how to send only from one UTXO, so frequently their wallets will combine UTXOs under the wallet's ways of managing UTXOs, which also will likely vary from wallet to wallet... and there are batching possibilities with wallets too.

You are a bit pie in the sky if you think that exchanges are ONLY charging $.50 to send a transaction, but sure it could be the case that there are some exchanges that have such low fees, but many have higher fees than that..

Of course, if guys do not want to wait until $500 per UTXO to send to private wallets, then they could send some smaller amount, and even sending $20 per UTXO has a lot of likelihood to create future problems, and when sending from an exchange, I see no reason to send UTXOs of less than $100 each and even that might be a bit small which is part of the reason to consider $500 as a kind of threshold amount, even though yeah it could be a bit problematic if a guy saves $10- per week for a year before he finally puts his UTXOs in a private wallet, yet I don't really see any major problem with that.. but each guy has to figure out these kinds of thresholds and the actual rather than imagined trade offs.

[I_Anime]

[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?

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

Just like JayJuanGee said , is better to have certain amount as your threshold, you can choose to start with $200 but $500 would have been nicer , but the thing is that it you are the type is accumulating $10 weekly , is better to store it first on your exchange ( a good exchange with good reputation) because you be storing some values there (bitcoin) for a while before transferring it to your private wallet.

I know some folks will be like $200 or $500 will take much time for someone accumulating with $10, but let be frank that folks won’t be stagnant for that long with $10 is gonna find means to increase his accumulation money because no one want to be left behind . The reason why some folks usually start with small money is because they don’t have much to spend but as time if they start accumulation, they will know how to tackle things .

While some is because they still have doubt they are not taken their accumulation serious bitcoin as shows countless sign of it being one of the best investments so far , and some folks are still at there doubting , take action now build you bitcoin stash , as you are accumulating find means of keeping your asset secure and safe.

[Gost ms]

[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?

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

I think that any amount of money is not less to invest. Because many people can afford to invest $100 and many can afford to invest $10. It is better to have some amount than nothing. There are many people whose monthly or weekly salary is very less. At the end of the month or week, they have very little money to invest, so continue investing with it. If you invest $2, it is not less.

[SilverCryptoBullet]

I think that any amount of money is not less to invest. Because many people can afford to invest $100 and many can afford to invest $10. It is better to have some amount than nothing. There are many people whose monthly or weekly salary is very less. At the end of the month or week, they have very little money to invest, so continue investing with it. If you invest $2, it is not less.

When you are ready for DCA, you must think of several things that can affect your investment and bitcoin accumulation as well as results of your DCA.

How often do you do DCA?
How much you are afford to spend for each time of DCA?
The second question relates to whether you withdraw your bitcoin from a centralized exchange immediately after a purchase or have to leave your coins there for a while and must wait for several next DCA times before a withdrawal. It relates to your fund safety as well and it's important.

How many percent a withdrawal fee is in your total capital value?
If it is a big percent, you will have to delay your withdrawal for saving withdrawal fee but it increases risk of losing your coin by a centralized exchange issue that you can not control.

[SOKO-DEKE]

[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?

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

I think that any amount of money is not less to invest. Because many people can afford to invest $100 and many can afford to invest $10. It is better to have some amount than nothing. There are many people whose monthly or weekly salary is very less. At the end of the month or week, they have very little money to invest, so continue investing with it. If you invest $2, it is not less.

I think you are getting the conversation wrong, @Gost. Ms., the conversation is all about how investors will be moving their Bitcoin to their private wallets. So, they are talking about the way they can done that easily. Instead of investors trying to move small amounts of dollar worth in Bitcoin like $10 or $20 to private wallets every week or monthly, if they can wait, allow that added up, and do that quarterly or yearly, it will make more sense than doing it every week.

So, their discussion is not based on the amount someone can invest in Bitcoin weekly or monthly. If it is all about buying Bitcoin, the amount of money does not discourage using the DCA method. If it is $10, someone can invest every week  that’s okay. If it is $50 or $100, that’s not bad either. The interesting part is that someone should continue investing.

[sotelorene]

[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?

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

I think that any amount of money is not less to invest. Because many people can afford to invest $100 and many can afford to invest $10. It is better to have some amount than nothing. There are many people whose monthly or weekly salary is very less. At the end of the month or week, they have very little money to invest, so continue investing with it. If you invest $2, it is not less.

Investing $2 every week or month seems like a child's play to me I mean how do you intend to increase your portfolio even though Bitcoin investment is a gradual process I don't think I can invest with $2 every week or month because $2 seems like nothing, because of the value of Bitcoin. Investment is not a must, the moment you start it without preparation ( having a stable source of income that will aid your investment well) you might be stranded along the line and we should not force ourselves to invest in Bitcoin simply because our friends are investing when you know within yourself that you don't have the capacity to..., what I am saying in essence is that investing with $2 doesn't make any sense to me.

[Solokan]

[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?

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

Just like JayJuanGee said , is better to have certain amount as your threshold, you can choose to start with $200 but $500 would have been nicer , but the thing is that it you are the type is accumulating $10 weekly , is better to store it first on your exchange ( a good exchange with good reputation) because you be storing some values there (bitcoin) for a while before transferring it to your private wallet.

I know some folks will be like $200 or $500 will take much time for someone accumulating with $10, but let be frank that folks won’t be stagnant for that long with $10 is gonna find means to increase his accumulation money because no one want to be left behind . The reason why some folks usually start with small money is because they don’t have much to spend but as time if they start accumulation, they will know how to tackle things .

While some is because they still have doubt they are not taken their accumulation serious bitcoin as shows countless sign of it being one of the best investments so far , and some folks are still at there doubting , take action now build you bitcoin stash , as you are accumulating find means of keeping your asset secure and safe.

in my opinion JayJuanGee's opinion is also the most appropriate because indeed by temporarily collecting btc on the exchange is a good way and of course by collecting btc until the btc is collected if in usdt it is more than $ 100 of course that is a wise thing and of course with the condition that we must be able to choose a good and trusted exchange and honestly if I personally choose an exchange to accommodate my btc I prefer an exchange that already has permission from the government and also the exchange and the government will be ready to intervene if the exchange is cheating. and of course for others I also think you have to be smart in choosing an exchange and of course you have to look for an exchange that of course has permission from the government of that country.

but in my opinion in this case it depends on each individual because of course even if for example we have a little btc like if it is cashed out $20 of course if it is withdrawn to a personal wallet it certainly doesn't matter as long as the cost is cheap and of course the most important thing is we don't forget our wallet password if we have put our btc in the wallet, because if we forget the password or lose the key it will certainly make us sad too.

keep up the spirit dca for everyone.  

[MainIbem]

[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?

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

I think that any amount of money is not less to invest. Because many people can afford to invest $100 and many can afford to invest $10. It is better to have some amount than nothing. There are many people whose monthly or weekly salary is very less. At the end of the month or week, they have very little money to invest, so continue investing with it. If you invest $2, it is not less.

I think you are getting the conversation wrong, @Gost. Ms., the conversation is all about how investors will be moving their Bitcoin to their private wallets. So, they are talking about the way they can done that easily. Instead of investors trying to move small amounts of dollar worth in Bitcoin like $10 or $20 to private wallets every week or monthly, if they can wait, allow that added up, and do that quarterly or yearly, it will make more sense than doing it every week.

So, their discussion is not based on the amount someone can invest in Bitcoin weekly or monthly. If it is all about buying Bitcoin, the amount of money does not discourage using the DCA method. If it is $10, someone can invest every week  that’s okay. If it is $50 or $100, that’s not bad either. The interesting part is that someone should continue investing.

Based on TX fees, I know some people might be finding it tough to move from the exchange they buy Bitcoin on different intervals to a non-custodial wallet, well for me it depends on the interval one buys, if someone buys bitcoin on a weekly interval, then it's not a bad idea if they can transfer it to their private wallet monthly, but if one buys on a monthly interval, then transferring to their private wallet quarterly won't be a bad idea, I don't think their are much people who buys daily, those set of people can decide to transfer either on a weekly or monthly basis. Anyways to keep the coin on the exchange safe, a 2 factor authenticator needs to be applied to support the security against hackers, why moving from exchanges to a private wallet is advised is based on security so for the coin to be keep on a weekly, monthly or quarterly interval before moving to a private wallet, the exchange needs to be more secure against theft or hackers and a 2 fac authenticator is the best approach for security.

[Pi-network314159]

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.

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.

both of you are saying the same thing and not paying attention. according to jjg in his statement he is trying to let you guys know that if bitcoin.com97 keeps on buying $10 each week from exchange and sending to his or her private wallet that he will have nothing left in that wallet due to UTXOs. there is likelihood that the $10 will not arrive. because the minimum deposit of btc to most wallet should not be less than $20 otherwise it will lost forever. so it is better to stack them in the exchange wallet till a tangible amount is accumulated before sending to the private wallet to avoid UTXOs. i could remember a brother that was sent $19, it couldn't reflect to his wallet due to this same issue. but on checking the block explorer it shows that it arrived at the wallet. am afraid that most guys may be buying bitcoin each week and sending to their private wallet without knowing it didnt arrive.




For example this are two different exchanges kucoin and binance. From the image you can see that the minimum deposit and withdrawal of each of them is 0.0002BTC which is equal to $21 in current rate except for the lightening network which the minimum is 0.00002BTC but apart from that it is obvious that you can't even send less than $10 or deposit less than $10 meaning thesame thing is applicable in the private wallet. The transaction fee is $4 which implies that if you even manage to be sending $30 every week, you will be losing $4 to transaction fee multiply by how many weeks you have sent to your private wallet then you are on a losing streak. So it's Best you allow your Bitcoin to stack up in your exchange despite the risk you may have atleast 6 months intervals each in a Year to send to your private wallet if you are Afraid of exchange hack.

[JayJuanGee]

[edited out]

Investing $2 every week or month seems like a child's play to me I mean how do you intend to increase your portfolio even though Bitcoin investment is a gradual process I don't think I can invest with $2 every week or month because $2 seems like nothing, because of the value of Bitcoin. Investment is not a must, the moment you start it without preparation ( having a stable source of income that will aid your investment well) you might be stranded along the line and we should not force ourselves to invest in Bitcoin simply because our friends are investing when you know within yourself that you don't have the capacity to..., what I am saying in essence is that investing with $2 doesn't make any sense to me.

Even though folks can invest whatever they are able to invest, yet I also agree that there should be efforts to bring the amounts and the frequencies of buying up, and I tend to never refer to ideas of investing less than $10 per week, even though surely some guys might be in a position in which they are not able to invest more than $10 per week into bitcoin.

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.

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.

both of you are saying the same thing and not paying attention. according to jjg in his statement he is trying to let you guys know that if bitcoin.com97 keeps on buying $10 each week from exchange and sending to his or her private wallet that he will have nothing left in that wallet due to UTXOs. there is likelihood that the $10 will not arrive. because the minimum deposit of btc to most wallet should not be less than $20 otherwise it will lost forever. so it is better to stack them in the exchange wallet till a tangible amount is accumulated before sending to the private wallet to avoid UTXOs. i could remember a brother that was sent $19, it couldn't reflect to his wallet due to this same issue. but on checking the block explorer it shows that it arrived at the wallet. am afraid that most guys may be buying bitcoin each week and sending to their private wallet without knowing it didnt arrive.


For example this are two different exchanges kucoin and binance. From the image you can see that the minimum deposit and withdrawal of each of them is 0.0002BTC which is equal to $21 in current rate except for the lightening network which the minimum is 0.00002BTC but apart from that it is obvious that you can't even send less than $10 or deposit less than $10 meaning thesame thing is applicable in the private wallet. The transaction fee is $4 which implies that if you even manage to be sending $30 every week, you will be losing $4 to transaction fee multiply by how many weeks you have sent to your private wallet then you are on a losing streak. So it's Best you allow your Bitcoin to stack up in your exchange despite the risk you may have atleast 6 months intervals each in a Year to send to your private wallet if you are Afraid of exchange hack.

When I am talking about UTXO management, I am not just referring to sending from the exchange, even though you are correct to point out that some exchanges have minimum withdrawal fees that make it seem imprudent to be sending small amounts.

Another reason that I frequently mention $500 is out of concern for long term storage, so even if a guy has several UTXOs that range between $10 and $100, there sometimes could be fees that add up towards making some of the balances uneconomical to spend at various times in the future, and accordingly I talk about UTXO management since many times we are going to have separate UTXOs for each of the amounts that we send, even if we try to reuse addresses, and it is not even advisable to reuse addresses.

Earlier, I mentioned an example that a guy who has 50 UTXOs that are round $10 each, may end up without an ability to spend them because fees might be high, so if fees are $10 for each UTXO, then each of his UTXOs is uneconomical to spend, as compared with the guy with only 1 UTXO of $500, and he might have $490 remaining if the fee were to be $10.  Many guys seem to not know about UTXO management and how it works, and surely I am not even explaining it, so that means that guys have to learn about UTXO management, instead of continuing to believe that the ONLY transaction fees that matter are the fees from the exchanges, and even though exchanges are sometimes outrageous in their fees, there are other ways that we should be trying to better understand how fees work and how UTXO management works, especially when we are taking coins into self custody.  

Several wallets allow coin control, which allows folks to see the UTXO sizes and to choose which UTXOs to send from, but like I mentioned if guys have 50 or more UTXOs in their wallet that were a result of various $10 transactions, when fees go high the guys might be believe that they have $500 to $1,500 in bitcoin, yet the fees might end up adding up to several hundred dollars, yet if he had kept the UTXOs larger by sending larger transactions to himself when he was sending from exchanges, such as $200 to $500 or more as minimum amounts, then he will likely have more options with his future transactions, even if feels might be high in the future.

I can tell from some of the responses of guys or the lack of response or the continuing to think that $20 or $100 is o.k. that they do not understand the issue.  Sure once in a while sending transactions or receiving transactions of $20 to $100 might be o.k... yet it is going to become quite problematic if a guy might end up having hundreds or even thousands of transactions that had started out in those amounts.  There are 52 weeks in a year and 520 weeks in 10 years, and 1,040 weeks in 20 years... sure maybe somewhere along the line guys will learn about UTXO management and perhaps consolidate some of their UTXOs or even other guys might choose to break their larger UTXOs into smaller parts, breaking larger UTXOs into smaller parts seems to be a better problem to have.. even though sure the $10 to $100 transactions from today may well end up being worth $100s to $1,000s or even $10s of thousands in 4-10 years or longer from now.  I had some transactions from 2015 that were buying bitcoin for $100 or even a few hundred dollars, and some of those were 0.25 BTC to 1.5 BTC, and it was just a $100 to to $400.

[Promocodeudo]

Investing $2 every week or month seems like a child's play to me I mean how do you intend to increase your portfolio even though Bitcoin investment is a gradual process I don't think I can invest with $2 every week or month because $2 seems like nothing, because of the value of Bitcoin. Investment is not a must, the moment you start it without preparation ( having a stable source of income that will aid your investment well) you might be stranded along the line and we should not force ourselves to invest in Bitcoin simply because our friends are investing when you know within yourself that you don't have the capacity to..., what I am saying in essence is that investing with $2 doesn't make any sense to me.

Starting with the amount you mentioned is not bad as far as thats the financial ability of the said investor since it is not adviseable for us as investors to do dirty jobs or things that are not legal to get funds to invest in Bitcoin but atleast weekly with this amount is ok for the time being until the particular investor upgrades his or her income, am only against any investor settling at his or her starting point with seeking for way to increase his income to enable him or her fasten up his DCA with an upgraded amount that won't also be a pressure on him or her consistently.

In as much as I agree with you that Bitcoin investment is not must, I will also want you to understand that for anyone to even think of starting with the mentioned amount every week or month, it means that if such individual has what it takes to do more of that he will, atleast with that amount it mean such individual have interest in Bitcoin but may be because of financial constraints, I think what such person should be concerned about is consistency and ways to get more income to push up his accumulation amount so that it won't be a childs play as you said your exact word on quote .

[Salahmu]

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

Since those acquisition will come from exchange it will be very high in network fees because exchange cannot give you $0.5 to withdraw $20 and this is also applicable to all the units you might want to withdraw from Bitcoin to your personal holding wallet. However this two times acquisition before withdrawals could have been better for someone who is investing high because when is deducted you will still have your main capital almost 100 percent complete because if for instance they have a network fee of $8 and an investor invested $2k, after the fee they will still have $1,992 but the person with $20 will be left with $12, so this is something that should be calculated and no how many times it should be withdrawn.

[asarfiar]

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

Since those acquisition will come from exchange it will be very high in network fees because exchange cannot give you $0.5 to withdraw $20 and this is also applicable to all the units you might want to withdraw from Bitcoin to your personal holding wallet. However this two times acquisition before withdrawals could have been better for someone who is investing high because when is deducted you will still have your main capital almost 100 percent complete because if for instance they have a network fee of $8 and an investor invested $2k, after the fee they will still have $1,992 but the person with $20 will be left with $12, so this is something that should be calculated and no how many times it should be withdrawn.

You are saying it very well. That means as it happens in our banking transactions. For example, let's say 1 dollar, 100 taka. In the case of bank transactions, if someone withdraws 1 dollar, then the minimum online fee is .23 cents. And if someone withdraws a maximum of 5000 dollars, then the minimum online fee is like .58 cents. And for unlimited transactions, the online fee can probably start from 1 dollar and go up to unlimited online fees.

And in the case of Bitcoin, we can see that since the network fee will be deducted at 8 dollars, then I think if someone keeps 10000 dollars in his Bitcoin wallet, he has the advantage of enjoying 100% profit. So let's invest in Bitcoin instead of keeping our money in the bank and make ourselves financially independent by preventing wastage of money.

[ejikeme24]

[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?

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

I think that any amount of money is not less to invest. Because many people can afford to invest $100 and many can afford to invest $10. It is better to have some amount than nothing. There are many people whose monthly or weekly salary is very less. At the end of the month or week, they have very little money to invest, so continue investing with it. If you invest $2, it is not less.

Investing $2 every week or month seems like a child's play to me I mean how do you intend to increase your portfolio even though Bitcoin investment is a gradual process I don't think I can invest with $2 every week or month because $2 seems like nothing, because of the value of Bitcoin. Investment is not a must, the moment you start it without preparation ( having a stable source of income that will aid your investment well) you might be stranded along the line and we should not force ourselves to invest in Bitcoin simply because our friends are investing when you know within yourself that you don't have the capacity to..., what I am saying in essence is that investing with $2 doesn't make any sense to me.

That's what makes you to be different from other guys, you may be thinking that $2 is nothing" but in the view of other people is such a huge amount of money, and one thing you should consider is the rate of our local currencies when you convert it to USD, for me I don't think if there's anything wrong if one choose to put $2 into bitcoin weekly or monthly, consistency is what matters the most. I would encourage them to do that instead of them to remain no coiners in the rest of thier lives, take for instance if they are putting $2 of their discretionary income into bitcoin every week they're getting not less than ($106 or even more a year) if that does not make any sense to you, then what will you say to those guys that does not have a single stash of bitcoin in thier portfolio? you May be thinking that what they're doing is child's play but before you will realize what they're doing they most have accumulated a reasonable amount of bitcoin in their portfolio. Sometimes they may choose to invest in bitcoin not because thier friends are into bitcoin investment but is because of the good potential of bitcoin which is why most guys will just look for a way to put a little portion of thier discretionary income into bitcoin they might choose to do it weekly or monthly as the case may be.

[Sticky Bomb]

I understand the dilemma for anyone who is somewhat brand new to bitcoin accumulation and feeling stuck in terms of buying now versus waiting, and from my perspective buying now is a better strategy, even though surely even with weekly buying periods, there could be ways to try to buy dips during the week or alternatively just to have a set day of the week that buys take place without getting overly preoccupied about the price but instead just having systems in place that facilitate continuous building of the personal bitcoin stack.

It is possible and fun to kind of try predicting dips within your buying period and you might be lucky enough to get more quantities at yet the same price. If for example, your buying amount is available at the start of the week, you could set some buy orders at some presumed dip prices with respect to market fluctuations and it is very possible the prices would cut through and your buy orders gets executed. In the scenario that the buy order was not executed throughout the week, then it is your duty as a disciplined and committed investor to buy at the current price at the end of the week in order to fulfill your weekly purchase obligations.

[Hewlet]

[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?

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

I think that any amount of money is not less to invest. Because many people can afford to invest $100 and many can afford to invest $10. It is better to have some amount than nothing. There are many people whose monthly or weekly salary is very less. At the end of the month or week, they have very little money to invest, so continue investing with it. If you invest $2, it is not less.

It's not like anyone can't decide on an amount he wishes to invest based on his financial strength, that has been what we've always advocated for, that people invest based on how desposed they are to finance but proper planning can also help you effectively invest the little amount you've set out for your investment.

Imagine you can only afford to invest $10 per week and you're also looking at how to ensure that you're not spending too much on fees weeks after week, you could maybe consider doing monthly accumulation such that you're going to be buying just once a month with $40. It might involve less charge while you're still not limited but can still attain the goal you've set for yourself as your monthly accumulation goal for the month.

Also, You saying that $2 can also be a potential accumulation amount for the week is something we have to look at and face the reality that such an investor might not be financially strong enough to get involved in bitcoin investment. If you're buying only $2 worth of bitcoin per week, realistically, it only means that you're going to accumulate less than $400 worth of bitcoin per year and even in five years time, the amount of bitcoin you would have accumulated would be too little to place you at a good profit as bitcoin price grows. Bitcoin generally favours those that have more capital so in addition to having a right investment plan, it's also necessary to work on having a good amount you're hoping to use in your investment.

[Sim_card]

[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?

In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.

I think that any amount of money is not less to invest. Because many people can afford to invest $100 and many can afford to invest $10. It is better to have some amount than nothing. There are many people whose monthly or weekly salary is very less. At the end of the month or week, they have very little money to invest, so continue investing with it. If you invest $2, it is not less.

It's not like anyone can't decide on an amount he wishes to invest based on his financial strength, that has been what we've always advocated for, that people invest based on how desposed they are to finance but proper planning can also help you effectively invest the little amount you've set out for your investment.

Imagine you can only afford to invest $10 per week and you're also looking at how to ensure that you're not spending too much on fees weeks after week, you could maybe consider doing monthly accumulation such that you're going to be buying just once a month with $40. It might involve less charge while you're still not limited but can still attain the goal you've set for yourself as your monthly accumulation goal for the month.

Also, You saying that $2 can also be a potential accumulation amount for the week is something we have to look at and face the reality that such an investor might not be financially strong enough to get involved in bitcoin investment. If you're buying only $2 worth of bitcoin per week, realistically, it only means that you're going to accumulate less than $400 worth of bitcoin per year and even in five years time, the amount of bitcoin you would have accumulated would be too little to place you at a good profit as bitcoin price grows. Bitcoin generally favours those that have more capital so in addition to having a right investment plan, it's also necessary to work on having a good amount you're hoping to use in your investment.

I feel that starting your Bitcoin investment with $2 weekly should be something but it's better that such person buys monthly at $8. It's still something and it's better to be alow coiner than a no coiner. When that investor have started with such little amount, he can start looking for other means to increase his income as he's investing. The most important thing is that he's consistent and persistent fo keep his bitcoin accumulation ongoing with DCA overtime.

When he has gotten a second means of income or have increased his income, he can start investing aggressively with his extra additional income to increase his bitcoin portfolio fast. Bitcoin is a store of value and it is good for us to buy bitcoin and grow our portfolio for the future no matter how little the amount is. You can also trim down your expenses to enable have more discretionary income.

[IjawMan]

Did you see the main title made by the OP above "Buy Buy Buy or Sell Sell Sell?" well, I took the end..because of what. there are quite a lot of speculators who always suppress the price, just look tonight a little bit of Jerome Powell talking about interest rates being lowered or maintained the market immediately reacted. We are not all rich people here.

I acknowledge we all in this forum may not be all that rich but we can all be good investors if we decides to follow the right path with bitcoin investment by accumulating more than always wanting to sell for some small profit made or fear of losing because of a market news that is causing panic. You don't build a portfolio to sell overnight for some chep profit except you're a trader. Long term bitcoin investors don't care about current news be it dip or rising price they continue with their accumulation by buying be it in a dip or high because the plan is long term where the massive profit lies.

As a long term holder despite the market conditions, whether the price is on down trend Aslong you haven’t sell your holding you haven’t loss a thing rather it will only give you opportunity to buy more rather than to panic and finding ways to sell at loss just buy the dip and hodl .

Much of what I pick out about people story who claim they lost from investing in bitcoin is that they panic and sold when there was a price dip that lasted for long and it created fears of uncertainty in them. The fear that their portfolio was depreciating more and more with the dipping bitcoin price. Instead of them to hop in the opportunity to accumulate more sats to their portfolio they panic and sold at a lost. But they won't be transparent about that when sharing how they lost their money they invested instead they cook up stories to cover their impatient and lack of knowledge about how bitcoin works.

[boyptc]

If you're buying only $2 worth of bitcoin per week, realistically, it only means that you're going to accumulate less than $400 worth of bitcoin per year and even in five years time, the amount of bitcoin you would have accumulated would be too little to place you at a good profit as bitcoin price grows.

While that's some truth there but this is still better than the majority of those people that only watches the price of Bitcoin and are all just in their mouths talking about they should buy soon.

Consistency is the key into profiting and if someone who's able to invest $2 only per week. It's better to keep that and do a lumpsum maybe every 2 months because if it's done per week, the fees might flatten and lessen the value of that amount.

Bitcoin generally favours those that have more capital so in addition to having a right investment plan, it's also necessary to work on having a good amount you're hoping to use in your investment.

Like increasing a dollar or two if it's possible. But as long as he's consistent doing it, he's still better than the rest that don't take action.