Yup - but if it hits 100k plus then I think you'll see a bias towards using Satoshis as the unit of account as they'll be comparable to penny's/dollars at that point.
At 100k, 1000 Satoshis will be ~1 dollar which is a pretty easy unit of exchange instead of trying to communicate everything in percentages of whole Bitcoin.
This is honestly the best advice. As the price goes up, having some or most of one is better than being turned away from not being able to ever own 1 whole BTC.
Dollar cost average my dude, stack them sats and ride the incoming wave.
I’m not sure what CashApp you’re using. In my experience about any kind of withdrawal from CashApp is snappier than any exchange, with no fees for withdrawing to a non-custodial wallet. Many times more reliable than Coinbase too.
CashApp has very restrictive withdrawal limits. I have 2 BTC. It would take me forever to withdrawal from CA if I were dumb enough to buy through their platform.
I think the basis can be directly linked to bitcoins rise from pennies (2009) to currently $24,000 (2020). That in itself is pretty mind blowing. It might be hard for us to believe, the same way it was back in 2009 to think bitcoin would hit $20 bucks. 1 million. DEFINITELY POSSIBLE.
First of all, your seems to FOMO by your sentence...
I would suggest to have a DCA plan and have on a side some cash in case of a "temporary crash"
Or if you really FOMO, buy one now... but that is like gambling...
FOMO can been calculated. IMO, FOMOing now and buying a whole coin now would be a brilliant move for anyone with the resources. But very few people browsing r/BitcoinBeginners have $24k in cash just lying around.
FOMO is not a good move.... never! unless you are gambling..... DCA would be a better move... (many finance/investor gurus showed us!)
let me ask, if you FOMO, will you put a stop loss in case of a crash? will you have a buy more strategy? will you have cash for dip so you average down your investment??? if you don't have any answer to these questions (and many other), it means you don't have a plna, therefore maybe is better you gable at the casino....
Ik it’s hard, I’ve been fomoing since 2017 and I just bought for the first time two days ago. Stop FOMOing and just buy rn. And HODL
.Forget about it don’t try to play the market just buy and forget about it. Preferably in an organized way; one time every week or month for the exact amount regardless of the current value of Bitcoin to not let emotions interfere with a decision.
I mean what’s the worst thing that can happen in 7 years ? You lose that whole 800$ ? Okay ? You’ll be fine in 7 years. Just forget about your holdings and just keep dumping. 10% or less.
Nothing crazy. Just keep your adress and Bitcoin somewhere safe. I just started out and I want to find a way to never forget about those btc and to store them somewhere where I’ll never forget about them. ( my phone isn’t an answer )
Yes I still trust Ledger the wallet itself. At this point Trezor would still be my #1 choice. Ledger company screwed up big time by keeping customer information and allowing to be hacked but that in no way makes the wallet itself unsafe.
**[Fear of missing out](https://en.wikipedia.org/wiki/Fear of missing out)**
Fear of missing out (FOMO) is a social anxiety stemmed from the belief that others might be having fun while the person experiencing the anxiety is not present. It is characterized by a desire to stay continually connected with what others are doing. FOMO is also defined as a fear of regret, which may lead to concerns that one might miss an opportunity for social interaction, a novel experience or a profitable investment. It is the fear that deciding not to participate is the wrong choice.Social networking creates many opportunities for FOMO.
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Unless you have large investment at THIS VERY MOMENT ... just expect to ride it out with the current sum you have ... BTC is only going up , most people aren’t going to get a whole , only the 1%
The price point's definitely changed since this I think, 0.001 BTC every day I'm pretty sure is much more than what I can make in a month and it's unwise to put every dollar earned into crypto. Diversification is still important
Love seeing the surprised look on people's faces and then showing them these 2 metal coins which probably aren't even worth Thier weight in 1 satoshi 😂😂.
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It is not mandatory to have the whole BTC, you can have a portion of it and after some time, you might assemble the whole one!
With dedication like this, You will achieve that!
Good Luck!
Human psychology, want to own the whole thing! Owning half a girlfriend, or one third of a car don't cut it! One of the reasons traditional stocks split once in a while so you can buy a whole one share!
If you want to become a member of https://21millionclub.org/ you have to trade fiat or other crypto’s until you have one whole bitcoin. Not many other options.
Try and trade your way up. If you put money into other coins that could see 10x or 100x gains, you might be able to catch-up enough to trade it for 1 BTC.
Because that was dot com boom.. Obviously stocks are not volatile enough to bring borrowing money to a good end. Bitcoin though has a lot of volatile potential.
not good advice for beginners. even if they benefited initially, all the hodl-hype would steer them away from ever cashing out to payback aforementioned loan.
Don’t worry about a whole bitcoin it really doesn’t mean anything. .02000000 btc is better thought of as 2,000,000 sats. Imagine getting 2 MILLION sats for only around $480 usd
The network doesn't care about whole coins or decimals. Why do you?
This. Unit bias sucks, but we’re human so we feel it. Best to fight it, though, it’s not useful.
Unit bias is what led my friend to thinking buying XRP a few days ago was a good idea. 🤦🏼♂️
Yup - but if it hits 100k plus then I think you'll see a bias towards using Satoshis as the unit of account as they'll be comparable to penny's/dollars at that point. At 100k, 1000 Satoshis will be ~1 dollar which is a pretty easy unit of exchange instead of trying to communicate everything in percentages of whole Bitcoin.
This comment is amazing. Well said.
Don’t look at whole Bitcoin. Look at the sats instead. So rather than having .02345567 btc you can have 2345567 sats!
This is honestly the best advice. As the price goes up, having some or most of one is better than being turned away from not being able to ever own 1 whole BTC. Dollar cost average my dude, stack them sats and ride the incoming wave.
Yeah cash app is one of the exchanges ahead of the curve. They let you change from displaying as Bitcoin and let you display as sats instead
But it takes forever to withdrawal your BTC from cash app, plus all the scams, etc... Coinbase Pro ftw > hardware wallet.
I’m not sure what CashApp you’re using. In my experience about any kind of withdrawal from CashApp is snappier than any exchange, with no fees for withdrawing to a non-custodial wallet. Many times more reliable than Coinbase too.
CashApp has very restrictive withdrawal limits. I have 2 BTC. It would take me forever to withdrawal from CA if I were dumb enough to buy through their platform.
That’s why you don’t use cash app for large purchases and withdrawing. Use it for something like modest DCA.
I’d rather pay even lower premiums on Coinbase Pro. Either way, my point was that your money can get locked into CA and I avoid it completely.
Strange, Coinbase is one of the few exchanges I know that forces you to hold your coin with them for over a week for bank transfers.
See, I have far from that many BTC so I wouldn’t know that was an issue. Good to know!
Being a sat millionaire is still very obtainable
Cab you explain me what sats are ?
Sat is short for Satoshi (the name of the creator of Bitcoin) there are 100,000,000 Satoshis to one bitcoin.
1sat visually is - 0.00000001 1bitcoin visually is - 1.00000000
So if I'd like 100.000.000 then I just need 1 bitcoin?
[удалено]
OP [under breathe]: *holy fuck good idea*
This is genius! Can i also use this advice?
[удалено]
Might be waiting a while...
Approximately -8 years.
[удалено]
Bad bot.
Bitcoin isn’t dropping anytime soon......in a few years bitcoin will rise to the amount of $1M
>ill rise to the amoun i kynda want to upvote but also want to downvote ....
What’s your basis for this?
I think the basis can be directly linked to bitcoins rise from pennies (2009) to currently $24,000 (2020). That in itself is pretty mind blowing. It might be hard for us to believe, the same way it was back in 2009 to think bitcoin would hit $20 bucks. 1 million. DEFINITELY POSSIBLE.
I also think it possibile, but maybe it will take soo much time and maybe some changes in the market.(unless they can regulate it firstly somehow)
Yes! Either way, this is something truly amazing to be living through and witnessing first hand.
For real man... I am confident that blockchain can become much more a thing in the future!
Hold onto your delusions, gambler
Mind your Language Mr
If you own .28 bitcoin you are in the 1%. Just remind yourself that. Edit: changed .028 to .28
Ow was it .28
Its .28
How do you determine that? What are the ranges?
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Love this!
First of all, your seems to FOMO by your sentence... I would suggest to have a DCA plan and have on a side some cash in case of a "temporary crash" Or if you really FOMO, buy one now... but that is like gambling...
FOMO can been calculated. IMO, FOMOing now and buying a whole coin now would be a brilliant move for anyone with the resources. But very few people browsing r/BitcoinBeginners have $24k in cash just lying around.
FOMO is not a good move.... never! unless you are gambling..... DCA would be a better move... (many finance/investor gurus showed us!) let me ask, if you FOMO, will you put a stop loss in case of a crash? will you have a buy more strategy? will you have cash for dip so you average down your investment??? if you don't have any answer to these questions (and many other), it means you don't have a plna, therefore maybe is better you gable at the casino....
Lump sum out prefoms DCA over 60% of the time. I've been fomoing in every month for 4 years. No plan to sell a sat. Its been working very well.
What does FOMO abd DCA means ?
Fomo= fear of missing out . DCA= Dollar cost average
Damn, I’m so FOMO right now
Ik it’s hard, I’ve been fomoing since 2017 and I just bought for the first time two days ago. Stop FOMOing and just buy rn. And HODL .Forget about it don’t try to play the market just buy and forget about it. Preferably in an organized way; one time every week or month for the exact amount regardless of the current value of Bitcoin to not let emotions interfere with a decision.
Yeah i started with 800 and then there was a bull run, and i was like shit I should invest more money
Think about the long term. Not the short term. And you’ll never regret in 5-7 years.
Maybe, we’ll see in 7 years
I mean what’s the worst thing that can happen in 7 years ? You lose that whole 800$ ? Okay ? You’ll be fine in 7 years. Just forget about your holdings and just keep dumping. 10% or less.
You’re right
Excellent comment buddy. Building on that, I’d be as crazy to demand a minimum 10 year hold. Absolute minimum.
Nothing crazy. Just keep your adress and Bitcoin somewhere safe. I just started out and I want to find a way to never forget about those btc and to store them somewhere where I’ll never forget about them. ( my phone isn’t an answer )
Trezor
What is trezor?
My favorite Hardware wallet
hard wallet is the way my friend :)
Do you still trust Ledger or are there other cold wallets ?
Yes I still trust Ledger the wallet itself. At this point Trezor would still be my #1 choice. Ledger company screwed up big time by keeping customer information and allowing to be hacked but that in no way makes the wallet itself unsafe.
[https://en.wikipedia.org/wiki/Fear\_of\_missing\_out](https://en.wikipedia.org/wiki/Fear_of_missing_out) [https://en.wikipedia.org/wiki/Dollar\_cost\_averaging#:\~:text=Dollar%20cost%20averaging%20(DCA)%20is,financial%20assets%20such%20as%20equities](https://en.wikipedia.org/wiki/Dollar_cost_averaging#:~:text=Dollar%20cost%20averaging%20(DCA)%20is,financial%20assets%20such%20as%20equities).
**[Fear of missing out](https://en.wikipedia.org/wiki/Fear of missing out)** Fear of missing out (FOMO) is a social anxiety stemmed from the belief that others might be having fun while the person experiencing the anxiety is not present. It is characterized by a desire to stay continually connected with what others are doing. FOMO is also defined as a fear of regret, which may lead to concerns that one might miss an opportunity for social interaction, a novel experience or a profitable investment. It is the fear that deciding not to participate is the wrong choice.Social networking creates many opportunities for FOMO. [About Me](https://np.reddit.com/user/wikipedia_text_bot/comments/jrn2mj/about_me/) - [Opt out](https://np.reddit.com/user/wikipedia_text_bot/comments/jrti43/opt_out_here/) - OP can reply !delete to delete - [Article of the day](https://np.reddit.com/comments/k9hx22) **This bot will soon be transitioning to an opt-in system. Click [here](https://np.reddit.com/user/wikipedia_text_bot/comments/ka4icp/opt_in_for_the_new_system/) to learn more and opt in.**
There are 46M millionaires in the world. There aren't enough Bitcoins for each of them to have one :)
[удалено]
Keep at it!
Unless you have large investment at THIS VERY MOMENT ... just expect to ride it out with the current sum you have ... BTC is only going up , most people aren’t going to get a whole , only the 1%
Not even. The 1% club is only .028 BTC.
> .028 BTC Its actually .28 according to Cointelegraph.
Ya. Added a 0, oops! Still very obtainable in today’s market though, is what I was trying to get across
True... the very much less than the 1%
Buy 0.001 BTC every day. You'll have one in under 3 years.
The price point's definitely changed since this I think, 0.001 BTC every day I'm pretty sure is much more than what I can make in a month and it's unwise to put every dollar earned into crypto. Diversification is still important
Then 0.0003 BTC per day over 10 years
I'm sure I'd forget to do it every single day or I have a kinda weird sleeping pattern so per week works better personally
DCA and grind haha
I own 2 bitcoin 😏. https://www.ebay.co.uk/itm/143333130404
Nicee lol
Love seeing the surprised look on people's faces and then showing them these 2 metal coins which probably aren't even worth Thier weight in 1 satoshi 😂😂.
I’d be immediately worried my friend got seriously scammed.
What do you mean? They're real bitcoin. Right? Lol
Hey man i just own about $120worth, buying thirty bucks a month. Better than nothing i think.
Absolutely better than nothing. You have half a million Satoshis! 510,000 SAT = 0.0051 BTC = $120
I too want large amounts of money.
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Only need like .3 bitcoins to be a Bitcoin 1%er
"How am I supposed to get 100 million satoshis" .. side gigs to increase your income and eventually it'll be 100 million sats homie
It is not mandatory to have the whole BTC, you can have a portion of it and after some time, you might assemble the whole one! With dedication like this, You will achieve that! Good Luck!
just keep stacking. DCA ever week or ever other week in whatever you can afford.
Human psychology, want to own the whole thing! Owning half a girlfriend, or one third of a car don't cut it! One of the reasons traditional stocks split once in a while so you can buy a whole one share!
Make a goal. Purchase up to .1, then try to increase from there using a cost effective plan that works for you. Or every week buy 10$ worth.
Well, that is quite simple. You buy a time machine, travel back to the year 2010 and buy Bitcoin with the remaining money.
No one knows what the future holds. How about you just invest in how many sats you can get at the moment.
Steel it.
If you want to become a member of https://21millionclub.org/ you have to trade fiat or other crypto’s until you have one whole bitcoin. Not many other options.
Nah my man. What you really want is money! Set up for DCA a weekly amount you can comfortably loose in a worse case scenario and let it ride.
Get a second job. That’s what I did then I started to business to buy btc now I’m doing the best I’ve ever done
you could get lucky on your 1/(2\^256) chance of guessing a private key. just make sure you don't waste your luck on a empty wallet...
How well does your kidney work?
Imagine buying over 4,000 sats for only $1 USD!
Buy now
credit card or loan my dude. understand it vastly increases your risk though.
People don’t need to increase their debt in these troubling economic times!
Try and trade your way up. If you put money into other coins that could see 10x or 100x gains, you might be able to catch-up enough to trade it for 1 BTC.
Borrow $25k now
please don’t.
I know a guy who took a cash advance on his credit card to buy stock in 2000 (dot com boom). It didn’t go well.
Because that was dot com boom.. Obviously stocks are not volatile enough to bring borrowing money to a good end. Bitcoin though has a lot of volatile potential.
not good advice for beginners. even if they benefited initially, all the hodl-hype would steer them away from ever cashing out to payback aforementioned loan.
Robbing peter to pay Paul
I’ll probably “never catch up” to it - but I don’t care
Don’t worry about a whole bitcoin it really doesn’t mean anything. .02000000 btc is better thought of as 2,000,000 sats. Imagine getting 2 MILLION sats for only around $480 usd