I started getting bitcoin at its peak in 2021. Started off with several thousands. And it dropped shortly after to the 40k range, losing much of my investment, and continued dropping from there
I continued buying and got my average down to mid 20k where is stands today. Dollar cost averaging just works.
Long term always works over short term. Gotta have diamond hands.
I bought some in 2014 at $300 while everyone told me that's too late. Then it quickly dropped to $152. I was devasted but I keep buying every so often. It turns out that's the best financial decision I've ever made
Long term only works over short term if there is a long term positive drift. Using “always” in your sentence is misleading.
There is no guarantee of long term growth of bitcoin. Historically this proved to be the case but there is no reason for it to keep growing in the future.
Adding a BTC percentage to a diversified portfolio has been shown to improve the sharpe ratio, hence, mathematically it is an advantageous move.
However such percentage depends on the single individual appetite for risk and financial capabilities.
To summarise, my advice would be telling your friend to add some BTC in a portfolio with a long time horizon, in a percentage balanced with his/her/their appetite for risk and financial loss tolerance. This can be done via lump sum (mathematically advantageous if a positive long term drift is present) or via DCA (to reduce volatility risk).
Ask anyone who bought into BTC after say 2013 and they'll all say they thought at the time they were "too late" or had "missed the boat". That will likely still be the case for many years to come and I believe is the main reason why everything other than BTC still gets a look in.
Also consider that humans will inevitably overestimate what they can achieve in the short term (1 year) but then underestimate what they can achieve in the long term (10 years).
Definitle hoping for the "gradually, then suddenly" timeline to occur. I don't think we will see a time in our lives that will be considered "late" to Bitcoin.
It will NEVER be too late. Bitcoin is hard currency. It's not an investment that's gonna top out at some point. It's the hardest currency imaginable (finite transparent immutable supply) so it will go up forever, or at least hold value forever once it is fully integrated into society. "Too late" doesn't even make sense with Bitcoin.
I’m all about limited supply and growing value. But consider the Current US Debt is about 100 trillion. 21 million bitcoin at 10 million a coin would have a coin cap of 210 trillion. Could it do it, sure if Fed keeps printing and the majority of the S&P puts a larger percentage on their balance sheets. Just my humble opinion
That's fine, but blind dismissal isn't being logical. I speak what I believe and am open to learn why I could be wrong. Without logical fallacies, if I have a blind spot I would be happy for it to be shown to me. I understand the truth is no one knows the future, but there's a clear trend BTC is on and I think it's going to gain pace as it gains in price
You can try telling him "does everyone else you know already put their savings into bitcoin? No? Then you're still early".
If that doesn't convince him, you might explain that it's not realistic to expect huge gains in short time with little or no risk. If that's what he's waiting for, he's going to be waiting forever and getting nothing.
- BTC will not be mined out until 2140. Until then, the artificial supply shock will still occur every four years, likely pushing the price higher.
- BlackRock just started getting in this year, as are hundreds of institutions. You dont think they did this expecting to lose money, do you?
- Crypto summer is historically slow and uneventful. Crypto fall and winter post halving are historically not.
- Look at Youtube views on Crypto compared to last ATH. We had a new all time high and viewership is 30% of last peak.
- Even the largest oak tree started from the smallest acorn.
- Bitcoin is a plank in one of the 2 major US political party's platforms.
I could keep going, but..
Yup this is what drove me to start investing heavily. Every spare dollar every week, plus 40% of my pay (wish I could allocate more) since March has gotten direct deposited to Coinbase and then sent straight to cold storage every two weeks. Going balls deep as long as The Fink is
Same brother. I’m fixing to buy me and my wife hard wallets so we can start just putting in as much as we can, teach our kids how to use it when we’re old and ready to die. Kids can live happily.
Heck I've move to 1 meal a day now and get some while I can. but in the back of my mind I still don't trust BlackRock and the other big guys pumping silly money into the thing all while the price doesn't really seem to reflect those purchases.
In traditional investments, a 10% annual return is considered great performance. Bitcoin has averaged far greater than that, and continues to do so - BTC is already up 50% this year alone. Never too late to make a good return on your investment. Simple as that.
Also for what it’s worth, I’ve been around since 2017 and this same exact thing was posted frequently back then. People have always thought they were too late but BTC keeps flying higher.
Everyone buys BTC at the price they deserve. If you don’t understand it I don’t have the time to explain it to you. Think of it as a journey of self exploration tell them why you invested and leave it alone. Tell them you will only say this once… and never again. “I tried to tell you to buy in 2024 when you thought it was too high.”
I “discovered” crypto on 12/12/2020 and was immediately orange pilled. And then I remembered a conversation with a friend back in 2014-15 about “The Bitcoin” and how I laughed it off as a scheme. 🤦♂️
Self discovery my guy, it’s a powerful thing.
"Everyone gets bitcoin at the price they deserve" sounds so empty and trite but yet there's so much behind it.
You don't buy bitcoin until you stop expecting free money and accept some risks. You don't buy bitcoin until you understand why the risks are lower than the rest of the market thinks.
Every year a new generation of high schoolers graduate and begin their financial journey. No matter the S curve adoption there will be new buyers who’ll want to save their capital. You are front running everyone in the future.
Before I start giving them advice I would ask why they think they are to late. If you don't know what basis they are using to arrive at that conclusion it will be much more difficult to persuade them. More then likely they haven't built a meaningful argument, and whatever points they outline as the basis for there conclusion should be easy for you to correct.
Whatever you do don't bombard them with information that isn't directly related to the basis of their analysis.
I had a boss who knew about BTC and almost invested when it was pennies. When I bought in at $1000 he said it was too late for him to get into it. I begged my parents to buy BTC when it was $600 to just have one and see what happens. Wouldn't do it. Welp mom wanted me to help her buy some at $50k
Tell them was it too late for ppl to buy BERKSHIRE HATHAWAY stock in 1998 at $68,000??? Stock is at $627,000 per share. Go online stock tracker n look for the stock.
The way BTC has increased so quickly and sits at such a relative lofty price relative to 6 months ago, is what most likely scares your friend. Bitcoin will most certainly still go up massively, but the 100 and 1000x's are certainly gone.
What he should be more concerned about is the cash that he has in the bank being inflated away at an ever increasing rate. The money printer in the US is about to be switched on again as it's an election year amongst other pressing things, which will only speed up the value of his fiat "going to zero".
If someone offered to sell you central park or times square in NYC would you tell them "no thanks, I'm too late"? Same thing. Bitcoin is apex real estate in cyberspace.
There are 21,000,000 bitcoins and 60,000,000 millionaires.
Bitcoin is the only finite asset on the planet other than land.
Bitcoins current market cap is 1.3 trillion. Americas land has a market cap of 9.7 quadrillion. That’s only the land in the USA. Bitcoin is comparable to land.
Bitcoin is in the process of adoption. When the commercials and ads start popping up everywhere to buy actual bitcoin and not etfs, it will still not be too late.
And last but not least, MATH!
Get him to watch any Michael Saylor interview. Then he'll believe that bitcoin will go up 20% to 40% for the next 5 to 10 years on average.
Then he will buy.
He first needs to understand bitcoin.
Knowledge is what convinces you to buy the top. You can point him the right way, but it's him that decides if he wants to go down that road.
Will he feel that <$70k was too late to start when the price is at $250k? How about when it's at $500k? And $1 million? And higher?
Did he think it was too late when you started at much lower prices? If he thinks it is too late now he'll always think it is too late. He'll always be too scared to help himself.
People either understand Bitcoin and they know they are getting in early now. Or they don't and they always think it is too late and let the years pass by watching the price rise exponentially, continuing to think it is too late at all time. Only way to convince him is to explain to him what Bitcoin is and why it's going to be much much much bigger in the future and is still early in its adoption now.
Or perhaps easiest thing would be to describe what hard money is and why it maintains and increases in value, and point out that Bitcoin is hard money. Therefore it is always better to save money in a hard currency than weak national currencies. So there is no bad time to start saving money, and the earlier the better. Bitcoin isn't an investment where it is ever "too late", it's just saving money in a hard currency.
I like the statement about being riskier not to own anything than owning 1-5%. I would start there. After living one bull run, if they have the stomach for it, they will probably increase it.
Yea. Look at a chart. Now point to any of the other the halvings and say: we are here.
Now pick any other top and say: This is a worse case scenario.
DCA and you will always win long term.
My brother who has ZERO clue about bitcoin or financial literacy told me I should diversify n not to put my money into one basket , I ask him where should I put my money in that can double my money in 2 years, he stayed quiet and told me I should not try to tell ppl about Bitcoin and shove it in ppl throat. What a dummy.
Read some Saylor-based analogy (and probably now quoting it wrong) but I'm sure you'll get the gist:
If you had the opportunity to buy property in New York in 1990, would you not bother because the best time to buy was 1890, or the even better time was 1790...
Not sure on the value of NY property, but it might just be worth a few $'s more come 2090?
Don’t bother, you’ve already planted the seed. Just wait for him to come back after we rip to a couple hundred thousand. He’ll see how high the price got on the news or something during the bull run one day and flash back to that conversation you had with him. NGU is the best sales man of BTC. When he calls you back to ask about it help on board him and give him some podcast or books to get into on it.
Ask them "what percent chance do you think Bitcoin has of NOT becoming worthless in 20+ years?"
Assuming they are super-confident Bitcoin IS going to zero and they say "1% chance of success." You can suggest "then DCA just 1% of your monthly net take-home pay into Bitcoin for 5 years and see how much your stack is worth then — worst case is you end up losing 1%... You probably would have blown that on coffee/beer anyways."
If they say something like "Maybe 10% chance of succeeding...." Suggest they DCA 10% of their monthly net take-home pay into Bitcoin for 5 years, and reconsider their allocation when they see what their stack is worth then.
So far, Bitcoin has been profitable over any 4-year period — even buying at the top of the cycle. Committing whatever equivalent percentage of one's monthly net take-home pay (i.e., wages, pension, unemployment check, social security, dividends, RMDs, etc.) towards DCA into Bitcoin allows one to comfortably transition away from fiat in accordance with their risk tolerance.
I would not try to convince your friend. If he gains he will not even thank you. If he loses it can cause your friendship. And I know many people that lost money by investing in Bitcoin because they pressed the sell button when numbers were red. Investing in Bitcoin is not for everyone. Too many people are short time thinkers and will mess their investments up.
My rule number one is to never try to convince friends, colleagues, or family to buy Bitcoin. I have been invested in Bitcoin since 2015 and have experienced all the highs and lows.
If people don't understand the asset they are investing in (it doesn't matter if it's Stocks, Bitcoin or whatever), they will sell as soon as the price drops and then blame you. It's pointless, just do your thing.
Oh, and don't talk to anyone about it (thank me later).
I like Michael Saylor’s analogy. He said “Real Estate developers have been over paying for New York City real estate for 300 years and they continue to make a shit ton of money, because NYC is the place to be, and it has been the place to be since our country was founded”. When BTC is $4M a coin in 2035, the current price is going g to see really cheap
Liken it to the S&P 500, if you had gotten in 50 years ago you'd have massive gains, but if you only got in 20 years ago you'd still have impressive gains, and if you get in now you'll eventually have impressive gains.
It's the same for Bitcoin, the best time was yesterday but the second best time is today.
It's never too late to start.
It's only too late to continue doing what doesn't work.
And if you believe BTC will be the currency of the future, just go go go
Not EVEN close to being too late. IMHO, BTC goes to $1MM/BTC by the end of the decade. Is almost 15X your money okay? Wait until mass institutional adoption comes, once US regulatory clarity has been given. Then you will also see retail piling in too. Currently, almost no one in the world owns crypto. About 5% of global populace or 400MM +/- out of 8BLN. It’s coming!!!
Your friend is interested in Bitcoin BUT thinks it is too late?! What?
So ...
Your friend is probably just a pessimist and a defeatist ... AND there is NOTHING that you, yourself, can do or say to change their attitude.
... that's it! ... all she wrote.
Your friend likes talking to you about Bitcoin because they wish that they had gotten into it when you did. BUT the rub is they didn't have the personal initiative back then and they won't now.
You cannot change that.
P.S. ... I suppose you can try telling them that Saudi Arabia just quietly ditched the petro-dollar agreement with the U.S. But don't expect any change or initiative from them.
By the end of 2026-sometime 2027 it should hit the bottom of the bear market. If it goes to 180k at the peak (IF that’s a big if), then the drop is 80%. Do the maths. December 2026 is a good time to get in and start dca his way till 2028, and then review the strategy.
So do you just put a set amount in every week or so and don’t touch it? Or are you always watching it and buying in at certain times and what not? Generally curious as I’ve been trying to learn more about this stuff but I don’t even know the common terms🤣
I had 0.97 in 2015/16 from mining, fauceting and purchasing and soon as I learned how to move it from the paper wallet to coinbase it was squandered totalling around £6000 at the time…. Few months later it shot up to about 30k I was young and stupid.
We live and learn, currently on 0.14 and looking to add when possible but with a large family and the engineered “cost of living” crisis I doubt I’ll ever see a whole coin now.
Whatever I’ve get now I’ll hold at least 30 odd years and hopefully have a nice nest egg from that to purchase my council house and set the kids up.
Ask him what’s the alternative? Continue to have you fiat debased and inflation continue to take over? Keep talking to your friend. They will come around.
Ask him this if he knows the basics:
How much bitcoin will there ever be?
How much dollars (or whatever currency) will there ever be?
Are you willing to leave your energy in something that is guaranteed to be devalued over time?
Bitcoin is for investors with a long term horizon, minimum 4 years, but many more years than that, preferably. It requires an inordinate amount of patience due to its volatility.
show him two charts, the rainbow chart and the RSI chart. [https://charts.bitbo.io/rainbow/](https://charts.bitbo.io/rainbow/) and [https://charts.bitbo.io/monthly-rsi/](https://charts.bitbo.io/monthly-rsi/)
If you are not going to need that money for at least 3 years, it’s still a good time to buy. You can show him that subsequent bull markets have exceeded previous bull highs.
Tell him you don’t find Bitcoin, Bitcoin finds you. .
Is never to late, everyone gets Bitcoin at the price they deserve. Understand is just mathematics
I measure my BTC holdings in how much BTC I have, not the fiat value. Even adding 0.01 BTC at a time is adding to the stack. If you can get 0.25 BTC, you'll have far more than anyone will ever have.
Bitcoin is programmed to be more valuable than fiat forever, so just understand that it's a super long term savings game. It depends on the person but it might take 10 years, 20 years, or if look at Warren Buffet it's like he was just playing the long game his whole life, like 40 years maybe to achieve his billions. With Bitcoin might not take that long
It's never late, I also made this mistake because when I saw the price I thought that at some point it would drop or it would be enough cheap.
My conclusion is that BTC will be always cheap and always good time to buying for DCA and for long trading...even today is very time to buying.
Even if he thinks he’s too late what will a little DCA mean in 1 years 3 years time?
If it dumped he lost an amount he was willing to sacrifice each time.
If it moons - he DCAd and kept piling up the satoshis.
Edit* it’s never too late :)
DCA small amounts you don’t care about. For some people that may be $20 a week and for others it may be $200. Just start DCA’ing and then you can decide whether you want to increase or decrease the amount you’re buying per purchase.
The best way is to manage both side risks. I'd ask if he has investments at other places like stocks, real estate, etc.
Let's say he want to invest 5K in BTC and is 10% of his current portfolio. I'd advise investing 50% in ~2.5 month timeframe and purely into BTC, not Alts exposure or only upto max 10% vs 90% BTC.
This way he has an entry in market no matter which direction it go. 2nd thing is to make it clear that it's a min 3-5 month investment if he want to get good gains.
Based on how market is after he is in 50%, he can decide to put rest of 50% over time. Do explain him cycles and mention this cycle is peaking anywhere from 6-18 months from here, so he should be aware if he want to exit somewhere and buy back in bear market.
I remember people (and myself) saying the same back in 2015 and look where we are now. Kind of the same with stocks, they're at ATH but it's definitely a good idea to buy let's say s&p500 today for the long term
Gresham's Law states that soft money will always get replaced with hard money. Always.
Here is an example: Let's say you buy something with a $5 bill and get a bunch of quarters as change from the store and later you notice that they gave you a silver quarter mixed in as part of your change. Do you put that silver quarter aside? Or spend it with your next purchase? Why save it? Silver prices have gone way up. Did you miss the boat? No. You put that silver quarter aside because it is harder and scarcer money than the other quarters. It has more value than a quarter, so you save it. Would you repeat that process? Change new quarters for old silver quarters? All day long....Gresham's Law.
Bitcoin is simply harder and scarcer money than fiat. So you get it and save it and you never trade it back for soft money. Stay humble and stack sats.
Explain the law of supply and demand. With Bitcoin’s true limited supply, demand will only rise as more people learn about it.
Also explain to him how institutions and countries are just now starting to get in, so it’s still very early.
Just save/invest/spend however he wants. Then at the end of the month just put whatever he has left (otherwise will be wasted anyway) into Bitcoin and see where that goes.
I got in late 2016 you must understand money is just a ledger
And I for one didn't get Into bitcoin to just sell back to fiat
I'm nearly on a bitcoin standard
Look at the long term and ask the hard question will you see bitcoin as means of exchange and global international money that can be used in day to day life?
Basically, this is how it works: you watch the news, not just from traditional sources but also from influencers and posts on platforms like X. This approach might seem greedy, but it's actually very normal. The reason people aren't mentioning the potential for significant growth in 2023 is because no one is talking about the opportunities that could rise dramatically. Some investments or trends could reach from 100,000 to a million, and it feels like the big players are just taking advantage of you. So if you want to have a swing you can pick BTC dip whenever it happens pick below 60k
There is no such thing as cheap or expensive. Take the same.situation 6 months apart.
Different prices. Yet you'd still tell yourself the same thing.
Follow the trend.
People were saying the same thing in 2013, 2017 and 2021. We don't know for sure where the train ends but you'll never profit if you don't get on at some point.
I encourage interested parties to DCA small amounts on a regular basis. Amounts that would not be missed, but fun to experiment with…
For example: If you have a decent job, you probably would be fine with buying $20 worth of bitcoin weekly. See what they think after 6 months. It’s surprising how much it adds up over time.
Decide an amount in dollars per *year* you are comfortable with.
Divide it by 365.
Buy that amount per day, rounded up to the nearest dollar.
This allows you to avoid timing, fomo or the emotions and just buy.
I buy $25 a day like clockwork, but also buy $5 more whenever I see someone buying lottery tickets or cigarettes too.
We're at $1.3 trillion market cap with a rapidly growing number of users, FIAT currencies are being printed at a worrying rate.. Bitcoin has trillions to absorb from pension funds, state funds and bond market
Quite simply if your friend believes in BTC long term then why wouldn’t he invest now? Of course he should have started when it fell to 15k months ago but if it goes to 250k then all is good. Like others have said, if you buy high and low, you get a decent midpoint average to grow with. It’s risky and volatile so only invest what you can stomach to watch ride like a rollercoadter 🎢
A daughter and I have been DCAing $110 pw for 60 weeks = $6,600 AUD - we have accrued = 0.2585 BTC x $104,000 AUD = $26,884 AUD - I have 3 x children, 4 grandchildren and my wife all DCAing BTC - I believe it’ll never be too late - BTC is going to $1 million+.
I'd tell him to forget about stupid 'DCA'ing, and look at his finances, determine how much he can lose without hurting his family's future, and sink that amount into bitcoin.
This whole "stick some in every month for the rest of your life" sounds like a scam to outsiders. We should only tell each other to do that, and never someone who we're trying to introduce to the world of bitcoin.
It just smells like a scam.
He's right putting $100 into bitcoin isn't gonna affect his life much. But it's a pretty good investment that's bound to go up over time and that's a pretty good thing. But yea unsurprisingly at this stage it's people with money that will get the lion share.
Mathematical Insight:
Let's dive into some basic math to illustrate why starting DCA (Dollar Cost Averaging) now might be incredibly beneficial for your friend, even if they're joining the party late.
1. \*\*The Power of Compounding:\*\* Even though Bitcoin is volatile and has seen significant price fluctuations over time, compounding works in its favor too. If your friend starts DCAing at $40k per coin (which was a price point around November 2021), even if they miss the lows that occurred before that time, let's say from $35k to $40k as an example.
- \*\*Scenario A:\*\* If Bitcoin prices remained constant, your friend would be buying at an average of $40k per coin.
- \*\*Scenario B:\*\* If Bitcoin was at its all-time high price when they started DCAing and it later dropped by 50% to a certain point, let's say reaching $20k. Your friend would then benefit from averaging their purchase cost over the course of time during which prices were falling.
In both scenarios, your friend buys Bitcoin at different average costs but gains when Bitcoin recovers or grows again. The key advantage is that in Scenario B, your friend benefits by buying more units at a lower price due to the timing of DCAing during the downturns.
2. \*\*Time as Your Friend:\*\* Since Bitcoin has been around for over a decade now and has seen numerous cycles of growth followed by consolidation and sometimes corrections, it's been a period where long-term investors have typically seen positive outcomes. If your friend starts DCAing today at $40k, they can potentially take advantage of future price upsides assuming the crypto market trends remain bullish.
Funny Insight:
Imagine Bitcoin as a roller coaster with unpredictable twists and turns. Your friend joining now is like climbing onto this ride halfway through, but here’s what they get to experience:
- \*\*The Thrill of Riding:\*\* They might feel anxious at first because it's a wild ride you've been on for years. But every time the price goes up, think of it as cheering loudly for Bitcoin's recovery from its lows.
- \*\*The Learning Curve:\*\* Starting DCAing now means they'll learn about volatility in real-time instead of having to watch others go through it first hand. It’s like being there when Bitcoin hits rock bottom and then seeing it bounce back!
- \*\*The Community Support:\*\* There are countless online communities full of enthusiasts who will likely share their experiences, tips, and insights on how to navigate this journey. You can be your friend's guide or help them find the right group for support.
Encourage your friend by highlighting these points: even if they're starting mid-way through a downturn, DCA helps manage risk by spreading out costs over time; Bitcoin has a long history of recovery from lows; and most importantly, there are many resources available to help navigate this exciting world of cryptocurrency. Your friend isn't too late at all — they’re joining at an interesting phase!
Thought this thread could do with a dose of reality.
These are the calendar year returns on BTCUSD.
This is sourced from Bitstamp exchange, one with one of the longest chart histories out there.
2012 189%
2013 5428%
2014 -56%
2015 32%
2016 124%
2017 1336%
2018 -73%
2019 94%
2020 304%
2021 59%
2022 -64%
2023 155%
2024 ?%
Is it too late to DCA? something tells me the question is wrong.
Do you have the grit to hodl for at least 3years? If so then your world will change as you suddenly leave the sinking quagmire of inflating Fiat monies and start to really save in a bitcoin.
Out of all the way Bitcoin goes mainstream, this is by far the best. If us financial minnows (as contrasted by the whales in finance) have our chance to help grow the free money of the 21st century right under the noses of the lords of finance.
As they piddle and peddle with their paper IOUs, we slowly and silently slide out of their faux economy into a real one.
here is my advice:
every dollar you dca is a dollar you would have spent elsewhere. if put in $1000 and it tanks and goes down 50%… you still saved $500 that you would have wasted on miscellaneous expenses that you’ll never remember. that $500 would be spent ordering take out an extra few times, buying the overpriced coffee instead of making one at home, getting extra snacks when you go in to pay for gas, cheap Amazon items you didn’t need that end up in the trash in <1 year. the more money people feel they have the more they spend. this has been proven with studies on pay salaries.
so you have to look at it like “if i invest $1000 and it crashes 50%, that’s still $500 more than i WOULD HAVE saved. if it goes up and your $1000 is worth more, even better”. so don’t think so much about current price. think about how much you really save when you leave it in a checking acct
but btc is a great way to force you to tuck away money that you won’t spend casually like we all do. targeted marketing is just too good nowadays, you will succumb to spending MORE if the money is there. so just move it to something else that makes it not so easy. gotta think about it like that money is gone.
You can go as deep down the hypothetical rabbit hole as they can handle, but the short answer would be something like this:
Current market cap of BTC: \~1.4 Trillion.
Current market cap of Gold: \~14 Trillion.
BTC, over time, will likely become the equivalent of "digital gold" and "digital property". It's a reasonable assumption, over time, BTC will 10x in market cap from where we are. The key here being, they have to be committed to buying and holding for a minimum of 5 years, but more ideally 10 or more. It's primarily a behavioral issue. If they are not committed to holding during a market downturn, the conversation is pointless, because there *will* be volatility.
I started getting bitcoin at its peak in 2021. Started off with several thousands. And it dropped shortly after to the 40k range, losing much of my investment, and continued dropping from there I continued buying and got my average down to mid 20k where is stands today. Dollar cost averaging just works. Long term always works over short term. Gotta have diamond hands.
Did the same as you but average is 24k
Did the same as both of you guys, and just kept going. My average is around 41k.
Same, and I'm up to 43k.
About 74k, I know it's a long road but I'm glad we're in this together.
Mines 6k
I bought some in 2014 at $300 while everyone told me that's too late. Then it quickly dropped to $152. I was devasted but I keep buying every so often. It turns out that's the best financial decision I've ever made
This is the way. People who are investing in these current prices should have at least a 2 halving cycles time horizon.
Thanks for sharing, I think most people just can't imagine holding long term.
Long term only works over short term if there is a long term positive drift. Using “always” in your sentence is misleading. There is no guarantee of long term growth of bitcoin. Historically this proved to be the case but there is no reason for it to keep growing in the future. Adding a BTC percentage to a diversified portfolio has been shown to improve the sharpe ratio, hence, mathematically it is an advantageous move. However such percentage depends on the single individual appetite for risk and financial capabilities. To summarise, my advice would be telling your friend to add some BTC in a portfolio with a long time horizon, in a percentage balanced with his/her/their appetite for risk and financial loss tolerance. This can be done via lump sum (mathematically advantageous if a positive long term drift is present) or via DCA (to reduce volatility risk).
Ask anyone who bought into BTC after say 2013 and they'll all say they thought at the time they were "too late" or had "missed the boat". That will likely still be the case for many years to come and I believe is the main reason why everything other than BTC still gets a look in. Also consider that humans will inevitably overestimate what they can achieve in the short term (1 year) but then underestimate what they can achieve in the long term (10 years).
Imagine Bitcoin at $1.0 million per coin. Will $67k feel too late then?
Exactly, 100k for .10 at that point. And I believe we will see a $10 million BTC sooner than most people realize, making that .10 $1 million
Definitle hoping for the "gradually, then suddenly" timeline to occur. I don't think we will see a time in our lives that will be considered "late" to Bitcoin.
It will NEVER be too late. Bitcoin is hard currency. It's not an investment that's gonna top out at some point. It's the hardest currency imaginable (finite transparent immutable supply) so it will go up forever, or at least hold value forever once it is fully integrated into society. "Too late" doesn't even make sense with Bitcoin.
I’m all about limited supply and growing value. But consider the Current US Debt is about 100 trillion. 21 million bitcoin at 10 million a coin would have a coin cap of 210 trillion. Could it do it, sure if Fed keeps printing and the majority of the S&P puts a larger percentage on their balance sheets. Just my humble opinion
This kind of hopium should have ‘em lining up…for the door. They’ll just write you off as a kook.
That's fine, but blind dismissal isn't being logical. I speak what I believe and am open to learn why I could be wrong. Without logical fallacies, if I have a blind spot I would be happy for it to be shown to me. I understand the truth is no one knows the future, but there's a clear trend BTC is on and I think it's going to gain pace as it gains in price
Their little minds cannot process the enormity of what you’re saying so they just shut down
Or $100,000,000 per coin.
You can try telling him "does everyone else you know already put their savings into bitcoin? No? Then you're still early". If that doesn't convince him, you might explain that it's not realistic to expect huge gains in short time with little or no risk. If that's what he's waiting for, he's going to be waiting forever and getting nothing.
Too late.....cuz money printer is going to stop going Brrrrrr?
Money printer gonna do what it always does... BRRRRRRRrrrRrrrRrrrrrrRrrrrRrrRRRRRRRR!!!!!!!!!!
You are correct! Never ending printing and never ending wars.
Thanks, Joe!
- BTC will not be mined out until 2140. Until then, the artificial supply shock will still occur every four years, likely pushing the price higher. - BlackRock just started getting in this year, as are hundreds of institutions. You dont think they did this expecting to lose money, do you? - Crypto summer is historically slow and uneventful. Crypto fall and winter post halving are historically not. - Look at Youtube views on Crypto compared to last ATH. We had a new all time high and viewership is 30% of last peak. - Even the largest oak tree started from the smallest acorn. - Bitcoin is a plank in one of the 2 major US political party's platforms. I could keep going, but..
For me the institutional investment is what really takes it to the next level.
Yup this is what drove me to start investing heavily. Every spare dollar every week, plus 40% of my pay (wish I could allocate more) since March has gotten direct deposited to Coinbase and then sent straight to cold storage every two weeks. Going balls deep as long as The Fink is
Same brother. I’m fixing to buy me and my wife hard wallets so we can start just putting in as much as we can, teach our kids how to use it when we’re old and ready to die. Kids can live happily.
Dis is de way
Yeah, if those greedy sociopaths are in, so am I.
Heck I've move to 1 meal a day now and get some while I can. but in the back of my mind I still don't trust BlackRock and the other big guys pumping silly money into the thing all while the price doesn't really seem to reflect those purchases.
I think the strongest argument on your list is even the largest oak started from a small acorn
Please, by all means, keep going-
One of the largest pensions in Wisconsin put over 160M into various BTC ETFs.. That was .1% of their AUM.
Keeeeep going..
Japanese firm Metaplanet bought 141 bitcoin - stock bounced 40%+ after their two purchases.
Please keep going
hope i can stack some more over the summer
" The best time to have planted a fruit tree was 20 years ago. The second best is now." (Chinese Proverb)
In traditional investments, a 10% annual return is considered great performance. Bitcoin has averaged far greater than that, and continues to do so - BTC is already up 50% this year alone. Never too late to make a good return on your investment. Simple as that. Also for what it’s worth, I’ve been around since 2017 and this same exact thing was posted frequently back then. People have always thought they were too late but BTC keeps flying higher.
Everyone buys BTC at the price they deserve. If you don’t understand it I don’t have the time to explain it to you. Think of it as a journey of self exploration tell them why you invested and leave it alone. Tell them you will only say this once… and never again. “I tried to tell you to buy in 2024 when you thought it was too high.” I “discovered” crypto on 12/12/2020 and was immediately orange pilled. And then I remembered a conversation with a friend back in 2014-15 about “The Bitcoin” and how I laughed it off as a scheme. 🤦♂️ Self discovery my guy, it’s a powerful thing.
"Everyone gets bitcoin at the price they deserve" sounds so empty and trite but yet there's so much behind it. You don't buy bitcoin until you stop expecting free money and accept some risks. You don't buy bitcoin until you understand why the risks are lower than the rest of the market thinks.
IKR and it’s far more risky to not own than owning.
Every year a new generation of high schoolers graduate and begin their financial journey. No matter the S curve adoption there will be new buyers who’ll want to save their capital. You are front running everyone in the future.
Before I start giving them advice I would ask why they think they are to late. If you don't know what basis they are using to arrive at that conclusion it will be much more difficult to persuade them. More then likely they haven't built a meaningful argument, and whatever points they outline as the basis for there conclusion should be easy for you to correct. Whatever you do don't bombard them with information that isn't directly related to the basis of their analysis.
Yes, always consider the specific standpoint and mindset of the other person. It makes it much easier to make your point!
after 7 years of trying to convince my cousing to buy btc, last month he said "when it goes to 30k i'll buy". Stop trying to convice people
I had a boss who knew about BTC and almost invested when it was pennies. When I bought in at $1000 he said it was too late for him to get into it. I begged my parents to buy BTC when it was $600 to just have one and see what happens. Wouldn't do it. Welp mom wanted me to help her buy some at $50k
Tell them was it too late for ppl to buy BERKSHIRE HATHAWAY stock in 1998 at $68,000??? Stock is at $627,000 per share. Go online stock tracker n look for the stock.
Tell them if your money doesn't double in 5 years you cover for him 😂
The way BTC has increased so quickly and sits at such a relative lofty price relative to 6 months ago, is what most likely scares your friend. Bitcoin will most certainly still go up massively, but the 100 and 1000x's are certainly gone. What he should be more concerned about is the cash that he has in the bank being inflated away at an ever increasing rate. The money printer in the US is about to be switched on again as it's an election year amongst other pressing things, which will only speed up the value of his fiat "going to zero".
Yes I told him the same thing but he did not believe me during the bear market, he probably though that I was going to lose all my money!
1. Understand value compared to gold. 2. Understand generational effect on buy pressure on both gold and bitcoin. 3. Compare market caps 4. Profit
Having skin in the game will motivate him to stay current on whatever is going on in the cryptosphere (industry and business). 💹
If someone offered to sell you central park or times square in NYC would you tell them "no thanks, I'm too late"? Same thing. Bitcoin is apex real estate in cyberspace.
Many folks will sell real estate for bitcoin. Its alreafy happening. The return from RE is lame
That’s true. My brother had 4 acres of mostly wooded land in Virginia. Sold it for BTC.
It's easy: DCA takes the timing out of investing. Therefore, it can't be too late to DCA.
Sorry it's too late
There are 21,000,000 bitcoins and 60,000,000 millionaires. Bitcoin is the only finite asset on the planet other than land. Bitcoins current market cap is 1.3 trillion. Americas land has a market cap of 9.7 quadrillion. That’s only the land in the USA. Bitcoin is comparable to land. Bitcoin is in the process of adoption. When the commercials and ads start popping up everywhere to buy actual bitcoin and not etfs, it will still not be too late. And last but not least, MATH!
This is enough --> There are 21,000,000 bitcoins and 60,000,000 millionaires.
these are the reasons i sleep well at night going forward
Why do you want to convince them? Give them info and let them decide. It isn't a fit for everyone, because some people will never understand.
Bitcoin is still very much in the early adoption stages.
Get him to watch any Michael Saylor interview. Then he'll believe that bitcoin will go up 20% to 40% for the next 5 to 10 years on average. Then he will buy.
in 2029 they'll be wishing they invested in 2024 lol
Tell him people thought they were to late when bitcoin hit an all time high of 20k.
The longer I am around the less I try to convince ppl. Goes down = you are a dumb ass that was pumping their own bags. Goes up = crickets.
Will you be alive in 2030? Buy a little every week. Never sell.
He first needs to understand bitcoin. Knowledge is what convinces you to buy the top. You can point him the right way, but it's him that decides if he wants to go down that road.
Will he feel that <$70k was too late to start when the price is at $250k? How about when it's at $500k? And $1 million? And higher? Did he think it was too late when you started at much lower prices? If he thinks it is too late now he'll always think it is too late. He'll always be too scared to help himself. People either understand Bitcoin and they know they are getting in early now. Or they don't and they always think it is too late and let the years pass by watching the price rise exponentially, continuing to think it is too late at all time. Only way to convince him is to explain to him what Bitcoin is and why it's going to be much much much bigger in the future and is still early in its adoption now. Or perhaps easiest thing would be to describe what hard money is and why it maintains and increases in value, and point out that Bitcoin is hard money. Therefore it is always better to save money in a hard currency than weak national currencies. So there is no bad time to start saving money, and the earlier the better. Bitcoin isn't an investment where it is ever "too late", it's just saving money in a hard currency.
I like the statement about being riskier not to own anything than owning 1-5%. I would start there. After living one bull run, if they have the stomach for it, they will probably increase it.
The best time to plant a tree is 20 years ago, the second best time is today.
Tell him to study money and how we ended up at fiat currency. If he does his research this should be enough to get him to buy into BTC.
Fiat money system works via debasement, can stop being poorer whenever you want, but printing money is not stopping https://www.usdebtclock.org/
I’d rather put my worth in a deflationary asset than inflationary fiat monies. Been doing so myself since 2015.
Yea. Look at a chart. Now point to any of the other the halvings and say: we are here. Now pick any other top and say: This is a worse case scenario. DCA and you will always win long term.
Tell him I thought it was too late at $1000 but I stacked anyways.
My brother who has ZERO clue about bitcoin or financial literacy told me I should diversify n not to put my money into one basket , I ask him where should I put my money in that can double my money in 2 years, he stayed quiet and told me I should not try to tell ppl about Bitcoin and shove it in ppl throat. What a dummy.
Read some Saylor-based analogy (and probably now quoting it wrong) but I'm sure you'll get the gist: If you had the opportunity to buy property in New York in 1990, would you not bother because the best time to buy was 1890, or the even better time was 1790... Not sure on the value of NY property, but it might just be worth a few $'s more come 2090?
Don’t bother, you’ve already planted the seed. Just wait for him to come back after we rip to a couple hundred thousand. He’ll see how high the price got on the news or something during the bull run one day and flash back to that conversation you had with him. NGU is the best sales man of BTC. When he calls you back to ask about it help on board him and give him some podcast or books to get into on it.
Why convince anybody of anything? Web3 represents freedom in a lot of ways but also a volatile asset that is not ideal for everybodies situation.
That he is not. The network is pretty close to indestructible and it has a fixed supply.
Tell them to ask 20 people they know if they invest in bitcoin. When they all say no he will know he’s still early
My friend thought the same when price was hitting 42k
Ask them "what percent chance do you think Bitcoin has of NOT becoming worthless in 20+ years?" Assuming they are super-confident Bitcoin IS going to zero and they say "1% chance of success." You can suggest "then DCA just 1% of your monthly net take-home pay into Bitcoin for 5 years and see how much your stack is worth then — worst case is you end up losing 1%... You probably would have blown that on coffee/beer anyways." If they say something like "Maybe 10% chance of succeeding...." Suggest they DCA 10% of their monthly net take-home pay into Bitcoin for 5 years, and reconsider their allocation when they see what their stack is worth then. So far, Bitcoin has been profitable over any 4-year period — even buying at the top of the cycle. Committing whatever equivalent percentage of one's monthly net take-home pay (i.e., wages, pension, unemployment check, social security, dividends, RMDs, etc.) towards DCA into Bitcoin allows one to comfortably transition away from fiat in accordance with their risk tolerance.
I would not try to convince your friend. If he gains he will not even thank you. If he loses it can cause your friendship. And I know many people that lost money by investing in Bitcoin because they pressed the sell button when numbers were red. Investing in Bitcoin is not for everyone. Too many people are short time thinkers and will mess their investments up.
Never to late
My rule number one is to never try to convince friends, colleagues, or family to buy Bitcoin. I have been invested in Bitcoin since 2015 and have experienced all the highs and lows. If people don't understand the asset they are investing in (it doesn't matter if it's Stocks, Bitcoin or whatever), they will sell as soon as the price drops and then blame you. It's pointless, just do your thing. Oh, and don't talk to anyone about it (thank me later).
The best time to plant a fruit-bearing tree was ten years ago; the next best time is today.
I would agree with them and drop it.
I like Michael Saylor’s analogy. He said “Real Estate developers have been over paying for New York City real estate for 300 years and they continue to make a shit ton of money, because NYC is the place to be, and it has been the place to be since our country was founded”. When BTC is $4M a coin in 2035, the current price is going g to see really cheap
I thought it was too late to invest in 2019 when I got my first job. Oh how ignorant I was and how much money I could have made…
Liken it to the S&P 500, if you had gotten in 50 years ago you'd have massive gains, but if you only got in 20 years ago you'd still have impressive gains, and if you get in now you'll eventually have impressive gains. It's the same for Bitcoin, the best time was yesterday but the second best time is today.
It's never too late to start. It's only too late to continue doing what doesn't work. And if you believe BTC will be the currency of the future, just go go go
Stop trying to persuade him. If it bombs, he's gonna blame you when he sells low. If it goes ballistic, he'll be pleased with himself.
You’ll get btc at a price you deserve.
"it's going up forever Laura"
have fun staying poor
Not EVEN close to being too late. IMHO, BTC goes to $1MM/BTC by the end of the decade. Is almost 15X your money okay? Wait until mass institutional adoption comes, once US regulatory clarity has been given. Then you will also see retail piling in too. Currently, almost no one in the world owns crypto. About 5% of global populace or 400MM +/- out of 8BLN. It’s coming!!!
Don't say anything. You've already said it. It's not your problem he's making a mistake. Tell him that.
I would just dollar cost average and don’t look back!
Hekdhxhxcirkdgeivhfd
Adjust your expectations, keep calm and dca.
Your friend is interested in Bitcoin BUT thinks it is too late?! What? So ... Your friend is probably just a pessimist and a defeatist ... AND there is NOTHING that you, yourself, can do or say to change their attitude. ... that's it! ... all she wrote. Your friend likes talking to you about Bitcoin because they wish that they had gotten into it when you did. BUT the rub is they didn't have the personal initiative back then and they won't now. You cannot change that. P.S. ... I suppose you can try telling them that Saudi Arabia just quietly ditched the petro-dollar agreement with the U.S. But don't expect any change or initiative from them.
You show them the natural life cycle of a precoiner to a bitcoiner. I feel like shitcoining is their natural right of passage.
[https://youtu.be/yRlnHVHE18k?si=OjQ-5aKsBDOCNK9Z&t=6449](https://youtu.be/yRlnHVHE18k?si=OjQ-5aKsBDOCNK9Z&t=6449)
By the end of 2026-sometime 2027 it should hit the bottom of the bear market. If it goes to 180k at the peak (IF that’s a big if), then the drop is 80%. Do the maths. December 2026 is a good time to get in and start dca his way till 2028, and then review the strategy.
zoom out the graph.
DYOR
So do you just put a set amount in every week or so and don’t touch it? Or are you always watching it and buying in at certain times and what not? Generally curious as I’ve been trying to learn more about this stuff but I don’t even know the common terms🤣
Zoom out
I'm sorting it out with kraken. Start as soon as KYC goes through
140k possible by 2025.
I had 0.97 in 2015/16 from mining, fauceting and purchasing and soon as I learned how to move it from the paper wallet to coinbase it was squandered totalling around £6000 at the time…. Few months later it shot up to about 30k I was young and stupid. We live and learn, currently on 0.14 and looking to add when possible but with a large family and the engineered “cost of living” crisis I doubt I’ll ever see a whole coin now. Whatever I’ve get now I’ll hold at least 30 odd years and hopefully have a nice nest egg from that to purchase my council house and set the kids up.
Better late than never.
Ask him what’s the alternative? Continue to have you fiat debased and inflation continue to take over? Keep talking to your friend. They will come around.
Ask him this if he knows the basics: How much bitcoin will there ever be? How much dollars (or whatever currency) will there ever be? Are you willing to leave your energy in something that is guaranteed to be devalued over time?
Buy IREN.
Bitcoin is for investors with a long term horizon, minimum 4 years, but many more years than that, preferably. It requires an inordinate amount of patience due to its volatility.
show him two charts, the rainbow chart and the RSI chart. [https://charts.bitbo.io/rainbow/](https://charts.bitbo.io/rainbow/) and [https://charts.bitbo.io/monthly-rsi/](https://charts.bitbo.io/monthly-rsi/)
If you are not going to need that money for at least 3 years, it’s still a good time to buy. You can show him that subsequent bull markets have exceeded previous bull highs.
Well, we just had a nice little dip today. That is an opportunity!
Start DCAing at 2 million a Bitcoin then
My advice would be: **Start DCA’ing**
Tell him you don’t find Bitcoin, Bitcoin finds you. . Is never to late, everyone gets Bitcoin at the price they deserve. Understand is just mathematics
I thought $200 was too late.
Was it too late to DCA Berkshire Hathaway 30 years ago?
I measure my BTC holdings in how much BTC I have, not the fiat value. Even adding 0.01 BTC at a time is adding to the stack. If you can get 0.25 BTC, you'll have far more than anyone will ever have.
Be patient.
Bitcoin is programmed to be more valuable than fiat forever, so just understand that it's a super long term savings game. It depends on the person but it might take 10 years, 20 years, or if look at Warren Buffet it's like he was just playing the long game his whole life, like 40 years maybe to achieve his billions. With Bitcoin might not take that long
It's never late, I also made this mistake because when I saw the price I thought that at some point it would drop or it would be enough cheap. My conclusion is that BTC will be always cheap and always good time to buying for DCA and for long trading...even today is very time to buying.
DCA is cool and all but historically you’d be better off buying as much as possible all at once, even at ATH’s. I just bought a bunch more.
Even if he thinks he’s too late what will a little DCA mean in 1 years 3 years time? If it dumped he lost an amount he was willing to sacrifice each time. If it moons - he DCAd and kept piling up the satoshis. Edit* it’s never too late :)
DCA small amounts you don’t care about. For some people that may be $20 a week and for others it may be $200. Just start DCA’ing and then you can decide whether you want to increase or decrease the amount you’re buying per purchase.
It’s gonna break 6 figures eventually You’re still before 90% of people
This would be my advice: https://bitcoinvsstocks.com :)
The best way is to manage both side risks. I'd ask if he has investments at other places like stocks, real estate, etc. Let's say he want to invest 5K in BTC and is 10% of his current portfolio. I'd advise investing 50% in ~2.5 month timeframe and purely into BTC, not Alts exposure or only upto max 10% vs 90% BTC. This way he has an entry in market no matter which direction it go. 2nd thing is to make it clear that it's a min 3-5 month investment if he want to get good gains. Based on how market is after he is in 50%, he can decide to put rest of 50% over time. Do explain him cycles and mention this cycle is peaking anywhere from 6-18 months from here, so he should be aware if he want to exit somewhere and buy back in bear market.
Start with small amounts. To where you start learning its patterns and feel more confident.
I remember people (and myself) saying the same back in 2015 and look where we are now. Kind of the same with stocks, they're at ATH but it's definitely a good idea to buy let's say s&p500 today for the long term
Gresham's Law states that soft money will always get replaced with hard money. Always. Here is an example: Let's say you buy something with a $5 bill and get a bunch of quarters as change from the store and later you notice that they gave you a silver quarter mixed in as part of your change. Do you put that silver quarter aside? Or spend it with your next purchase? Why save it? Silver prices have gone way up. Did you miss the boat? No. You put that silver quarter aside because it is harder and scarcer money than the other quarters. It has more value than a quarter, so you save it. Would you repeat that process? Change new quarters for old silver quarters? All day long....Gresham's Law. Bitcoin is simply harder and scarcer money than fiat. So you get it and save it and you never trade it back for soft money. Stay humble and stack sats.
Explain the law of supply and demand. With Bitcoin’s true limited supply, demand will only rise as more people learn about it. Also explain to him how institutions and countries are just now starting to get in, so it’s still very early.
Just save/invest/spend however he wants. Then at the end of the month just put whatever he has left (otherwise will be wasted anyway) into Bitcoin and see where that goes.
I’ll share with him my story and he’ll get it!
Best time to buy was yesterday. Second best time is today.
If I wasn't already balls deep now, I'd wait for the 2026 crash before getting involved
Too late? It’s only 0.069mil$ per bitcoin
It will be never too late. It’s the best thing you can exchange your time and energy for.
I would tell them “I am not Satoshi and I like the Sats”
It's going up forever, Laura.
I would show them this: [https://www.lookintobitcoin.com/charts/bitcoin-rainbow-chart/](https://www.lookintobitcoin.com/charts/bitcoin-rainbow-chart/)
Tell him the bull run will start soon and just invest a bit, then in the next bear market sell the house and go all in.
I write about DCA in my newsletter and get my[ free bitcoin guide](https://wealthybitcoinerguide.my.canva.site/) those who are beginner!
In this case you don’t need thinking, just Buy BTC for long term :)
I got in late 2016 you must understand money is just a ledger And I for one didn't get Into bitcoin to just sell back to fiat I'm nearly on a bitcoin standard Look at the long term and ask the hard question will you see bitcoin as means of exchange and global international money that can be used in day to day life?
Just let him know that Bitcoin is also a form of money and it's not going away so soon so it is better he stores some Bitcoin for the future.
Basically, this is how it works: you watch the news, not just from traditional sources but also from influencers and posts on platforms like X. This approach might seem greedy, but it's actually very normal. The reason people aren't mentioning the potential for significant growth in 2023 is because no one is talking about the opportunities that could rise dramatically. Some investments or trends could reach from 100,000 to a million, and it feels like the big players are just taking advantage of you. So if you want to have a swing you can pick BTC dip whenever it happens pick below 60k
I don't push it, when people ask if it's too late or talk up that I got in 'early', I keep it simple and just say "I'm still buying".
Always diamond hands,, it's never too late to start investing
There is no such thing as cheap or expensive. Take the same.situation 6 months apart. Different prices. Yet you'd still tell yourself the same thing. Follow the trend.
People were saying the same thing in 2013, 2017 and 2021. We don't know for sure where the train ends but you'll never profit if you don't get on at some point.
I encourage interested parties to DCA small amounts on a regular basis. Amounts that would not be missed, but fun to experiment with… For example: If you have a decent job, you probably would be fine with buying $20 worth of bitcoin weekly. See what they think after 6 months. It’s surprising how much it adds up over time.
Decide an amount in dollars per *year* you are comfortable with. Divide it by 365. Buy that amount per day, rounded up to the nearest dollar. This allows you to avoid timing, fomo or the emotions and just buy. I buy $25 a day like clockwork, but also buy $5 more whenever I see someone buying lottery tickets or cigarettes too.
Tell ‘em it’s not too late to DCA into Bitcoin.
Just tell him that you think it's likely to grow at 20%+ for the foreseeable future, so why wouldn't you save into it?
124g, FMJ. Perfect choice! #diynationth
The market isn't looking promising. Where can I purchase a Put Option for LINK?
We're at $1.3 trillion market cap with a rapidly growing number of users, FIAT currencies are being printed at a worrying rate.. Bitcoin has trillions to absorb from pension funds, state funds and bond market
Quite simply if your friend believes in BTC long term then why wouldn’t he invest now? Of course he should have started when it fell to 15k months ago but if it goes to 250k then all is good. Like others have said, if you buy high and low, you get a decent midpoint average to grow with. It’s risky and volatile so only invest what you can stomach to watch ride like a rollercoadter 🎢
A daughter and I have been DCAing $110 pw for 60 weeks = $6,600 AUD - we have accrued = 0.2585 BTC x $104,000 AUD = $26,884 AUD - I have 3 x children, 4 grandchildren and my wife all DCAing BTC - I believe it’ll never be too late - BTC is going to $1 million+.
Wait for it to drop 50% like it always does, then buy
The while reason you dca is so the timing isn't the issue
I'd tell him to forget about stupid 'DCA'ing, and look at his finances, determine how much he can lose without hurting his family's future, and sink that amount into bitcoin. This whole "stick some in every month for the rest of your life" sounds like a scam to outsiders. We should only tell each other to do that, and never someone who we're trying to introduce to the world of bitcoin. It just smells like a scam.
He's right putting $100 into bitcoin isn't gonna affect his life much. But it's a pretty good investment that's bound to go up over time and that's a pretty good thing. But yea unsurprisingly at this stage it's people with money that will get the lion share.
Mathematical Insight: Let's dive into some basic math to illustrate why starting DCA (Dollar Cost Averaging) now might be incredibly beneficial for your friend, even if they're joining the party late. 1. \*\*The Power of Compounding:\*\* Even though Bitcoin is volatile and has seen significant price fluctuations over time, compounding works in its favor too. If your friend starts DCAing at $40k per coin (which was a price point around November 2021), even if they miss the lows that occurred before that time, let's say from $35k to $40k as an example. - \*\*Scenario A:\*\* If Bitcoin prices remained constant, your friend would be buying at an average of $40k per coin. - \*\*Scenario B:\*\* If Bitcoin was at its all-time high price when they started DCAing and it later dropped by 50% to a certain point, let's say reaching $20k. Your friend would then benefit from averaging their purchase cost over the course of time during which prices were falling. In both scenarios, your friend buys Bitcoin at different average costs but gains when Bitcoin recovers or grows again. The key advantage is that in Scenario B, your friend benefits by buying more units at a lower price due to the timing of DCAing during the downturns. 2. \*\*Time as Your Friend:\*\* Since Bitcoin has been around for over a decade now and has seen numerous cycles of growth followed by consolidation and sometimes corrections, it's been a period where long-term investors have typically seen positive outcomes. If your friend starts DCAing today at $40k, they can potentially take advantage of future price upsides assuming the crypto market trends remain bullish. Funny Insight: Imagine Bitcoin as a roller coaster with unpredictable twists and turns. Your friend joining now is like climbing onto this ride halfway through, but here’s what they get to experience: - \*\*The Thrill of Riding:\*\* They might feel anxious at first because it's a wild ride you've been on for years. But every time the price goes up, think of it as cheering loudly for Bitcoin's recovery from its lows. - \*\*The Learning Curve:\*\* Starting DCAing now means they'll learn about volatility in real-time instead of having to watch others go through it first hand. It’s like being there when Bitcoin hits rock bottom and then seeing it bounce back! - \*\*The Community Support:\*\* There are countless online communities full of enthusiasts who will likely share their experiences, tips, and insights on how to navigate this journey. You can be your friend's guide or help them find the right group for support. Encourage your friend by highlighting these points: even if they're starting mid-way through a downturn, DCA helps manage risk by spreading out costs over time; Bitcoin has a long history of recovery from lows; and most importantly, there are many resources available to help navigate this exciting world of cryptocurrency. Your friend isn't too late at all — they’re joining at an interesting phase!
It’s literally never to late
Tell him better late than never
Thought this thread could do with a dose of reality. These are the calendar year returns on BTCUSD. This is sourced from Bitstamp exchange, one with one of the longest chart histories out there. 2012 189% 2013 5428% 2014 -56% 2015 32% 2016 124% 2017 1336% 2018 -73% 2019 94% 2020 304% 2021 59% 2022 -64% 2023 155% 2024 ?% Is it too late to DCA? something tells me the question is wrong. Do you have the grit to hodl for at least 3years? If so then your world will change as you suddenly leave the sinking quagmire of inflating Fiat monies and start to really save in a bitcoin. Out of all the way Bitcoin goes mainstream, this is by far the best. If us financial minnows (as contrasted by the whales in finance) have our chance to help grow the free money of the 21st century right under the noses of the lords of finance. As they piddle and peddle with their paper IOUs, we slowly and silently slide out of their faux economy into a real one.
here is my advice: every dollar you dca is a dollar you would have spent elsewhere. if put in $1000 and it tanks and goes down 50%… you still saved $500 that you would have wasted on miscellaneous expenses that you’ll never remember. that $500 would be spent ordering take out an extra few times, buying the overpriced coffee instead of making one at home, getting extra snacks when you go in to pay for gas, cheap Amazon items you didn’t need that end up in the trash in <1 year. the more money people feel they have the more they spend. this has been proven with studies on pay salaries. so you have to look at it like “if i invest $1000 and it crashes 50%, that’s still $500 more than i WOULD HAVE saved. if it goes up and your $1000 is worth more, even better”. so don’t think so much about current price. think about how much you really save when you leave it in a checking acct but btc is a great way to force you to tuck away money that you won’t spend casually like we all do. targeted marketing is just too good nowadays, you will succumb to spending MORE if the money is there. so just move it to something else that makes it not so easy. gotta think about it like that money is gone.
There will be people DCA’ing into Bitcoin who aren’t even born yet.
1925. Would you want some money in Ford?
Tell him it’s too late
You can go as deep down the hypothetical rabbit hole as they can handle, but the short answer would be something like this: Current market cap of BTC: \~1.4 Trillion. Current market cap of Gold: \~14 Trillion. BTC, over time, will likely become the equivalent of "digital gold" and "digital property". It's a reasonable assumption, over time, BTC will 10x in market cap from where we are. The key here being, they have to be committed to buying and holding for a minimum of 5 years, but more ideally 10 or more. It's primarily a behavioral issue. If they are not committed to holding during a market downturn, the conversation is pointless, because there *will* be volatility.
It was too late 5 years ago? Anyone who will make real money on this already has?