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Against Dollar Cost Averaging (DCA)
11 sats \ 4 comments \ @hynek 22 Mar 2022 bitcoin
Bitcoin is hard to get started with. Once you've gotten at least some (you've gotten out of Bitcoin Zero balance #getoffzero), you might start to flirt with the idea of regularly saving into bitcoin. This is done by people who believe that bitcoin will pay off in the long run and are trying to minimize short-term price fluctuations by doing so. But if you believe that bitcoin is worth holding for the long term, it's worth holding as much as you can, as soon as possible, and just don't risk exchanging it into fiat. Or switch into fiat divestment mode as quickly as possible (get to fiat zero #getonzero)
DCA also has dollar in its name 💩 → it just doesn't have a future...
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0 sats \ 0 replies \ @2big2fail 22 Mar 2022
mining is the best way to dollar cost average with fiat. buy a miner in fiat and stack btc kyc free on a regular basis. it is easy to use it as a btc purchase vehicle
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0 sats \ 0 replies \ @TheWildHustle 22 Mar 2022
I’m a noodle hands Bitcoin noob (class of 2019)
Although I live paycheck to paycheck, and operate under thin margins……
I see hope through my ability to dca into the asset and infrastructure.
Maybe the phrasing (dollar cost averaging) is contentious
But the practice (I believe) is one of the best chances me and my wife have, of making it out of the hood…..
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0 sats \ 0 replies \ @k00b 22 Mar 2022
I think DCA was more appealing when the world's reserve currency wasn't inflating at an understated 8%. DCA is also probably a misnomer for how bitcoiners use it too. Most of them aren't averaging in as much as they are buying bitcoin regularly as they get more fiat.
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0 sats \ 0 replies \ @tomlaies 22 Mar 2022
Idk why people migrated DCA from stock market to bitcoin. When buying into a business it makes sense since you want to be the owner of the business and not get distraced by short term media coverage and earnings and general whims of the market. For bitcoin it does not make sense: Bitcoin is always 1/21 million. Bitcoin does not change. Bitcoin is the hardest money ever and thus the most reliable thing to put your money into always. There are no earnings, there are no news that change bitcoin itself. 1 BTC always = 1 BTC. Don't DCA if you don't have to.
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