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Any DCA'ers here? How do you guys maneuver the high-fee landscape?
152 sats \ 5 comments \ @Fabs 21 Dec 2023 bitcoin
I've been warning people about DCA'ing with small sums because in the end, it could turn their UTXO's either into unspendable dust or make it a financial suicide trying to transfer or consolidate them. In recent months I've seen posts of people having to pay horrendous fees (up to $2500.00) in order to move their DCA-stack, which made them understandably upset.
Any DCA'ers who want to share their personal Horror-Stories like the one above? If you've found a way to minimize the pain, I'm sure others would like to hear!
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21 sats \ 1 reply \ @030e0dca83 21 Dec 2023
DCA to exchange and significant sums send to cold wallet
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0 sats \ 0 replies \ @Fabs OP 21 Dec 2023
Ah, because the exchange works with fixed fees, good one!
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0 sats \ 2 replies \ @Lost_dogz 21 Dec 2023
I DCA but I don't have horror stories, probably because I've been doing utxo consolidation for a long time.
The last withdrawal was about $5 in fees at 169 sats/vbyte. Not great, but also not horror
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0 sats \ 1 reply \ @Fabs OP 21 Dec 2023
Yeah, it's mostly people who simply wanna chime-in on the Bitcoin-thing by setting up a payment-plan and forgetting about it, only to discover that they've royally fucked themselves over once they actually wanna do something with their stack.
It's the harsh nature of Bitcoin. If you wanna use it (at this stage), you'll have to know a thing or two about it, too.
At least that's my view.
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0 sats \ 0 replies \ @343pg 21 Dec 2023
Yeah it’s interesting to think that the current fee spikes will have woken many up to the dangers of having too many UTXOs and needing to consolidate. Which ironically probably increases demand for carrying out Bitcoin transactions in the medium term. I’m beginning to see the dilemmas that will occur - what fee rate do you wait for in future?! All of a sudden I’d be happy with 50 right now.
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