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120 sats \ 9 replies \ @Satosora 13 May \ on: What are your DCA habits? bitcoin
I never understood the DCA mindset. I would rather make a choice to buy whenever I feel comfortable financially. It sporadic depending on my finances. That way I dont have to stress if I have enough money for the money or not.
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10 sats \ 1 reply \ @cryotosensei OP 13 May
Does the act of buying give you extra joy for the day? Or is it more like “darned! I must seize the opportunity n buy today!”
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20 sats \ 0 replies \ @Satosora 13 May
It depends on my mood. Sometimes when I buy it I am just doing it to do it. Other times when it dips, I might get a bit excited lol
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10 sats \ 4 replies \ @Fabs 13 May
I'm also more of a lump-sum'per.
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20 sats \ 3 replies \ @Satosora 13 May
if you dca small amounts, I feel the fees would really add up. I guess it doesnt really matter in the long run, but it hurts my heart a little bit every time I see that fee lol
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31 sats \ 2 replies \ @Fabs 13 May
That, and DCA'ing on-chain creates a whole lot of small UTXO's, something that can really ruin your day on a later stage.
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0 sats \ 1 reply \ @cryotosensei OP 13 May
How do you get the most out of your UTXOs? Make it your money’s worth? Any tips?
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0 sats \ 0 replies \ @Fabs 13 May
I save some fiat, and buy the equivalent amount of satoshis at once, leaving me with only one (normal-ish) UTXO.
It's also called "lump-sum".
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10 sats \ 1 reply \ @gmd 13 May
I started to DCA because I am an irrational chimp and always want to buy when the price is going up and always worried it's going to drop further when the price is down.
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99 sats \ 0 replies \ @Satosora 13 May
I dont think it is bad to buy bitcoin on a schedule, it just isnt for me. And why dollar cost average when you know the price is going to increase, and you are going to be not touching them forever. You already know you will be winning, do you need to ring every bit of profit for your joy?
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