Turning Shite Money Into Right Money

Hey Jessavers

Oh what a difference 5 years and 2 halvings make doesn't it? When I first got into BTC I was only concerned with getting rich quick, we moon, we sell, we rek noobs, we repeat. It was fun while it lasted and I'll probably do it again with some alts, I'm by no means the noblest lad I'm here to make that cash MUHNEEE!

Clearly, if you're losing it to me, you didn't want it badly enough and I know how to spend it better.

My previous strategy was to lump in when it's cheap and then dump out when its a bit higher and hope I made some profits. The truth is most traders get rekt the shorter the time period is, I used to try and do it each month and had some success but with the small amounts and fees and time it hardly seemed worth it

As we moved into bear market times, I shifted my strategy into dollar-cost averaging and have not looked back since.

What is dollar-cost averaging?

Dollar-cost averaging is a simple investment strategy that aims to reduce the impact of volatility on large purchases of financial assets such as equities. All you do is pick a date and value you willing to spend like a debit order and pop it into the asset of choice every month.

Dollar-cost averaging is also called the constant dollar plan, pound-cost averaging, and, irrespective of currency, unit cost averaging, incremental trading, or the cost average effect.

It makes investing easier, you can do it on autopilot basically and you can adjust as you see fit without risking your position.

Image source: - foreignpolicyjournal.com

Since then I've been buying $150 worth of BTC each month, I do buy a bit more in some cases but that has been to convert into altcoins but I never miss my $150 commitment.

I've been doing it since the beginning of 2018 on the first of every month to make it easier. I mean you could do it when you get paid be it the end of the month, or the middle, it's really up to you, the 1st of the month is just my preference.

Also, keep in mind to maintain my $150 commitment I've had to adjust how much I pay in since I have to do it in South African Rands so I need to account for the exchange rate into dollars at the time and get $150 before converting into BTC, which ads a bit of complexity but for me but for the sake of consistency with a measurement most would understand it's far better.

Besides who wants to measure anything in Rands, I'd much rather measure in toilet paper at this point.

2018

Month	Dollars	BTC
January	$14 093.61	0,01064312
February	$10 114.50	0,01483019
March	$10 364.66	0,01447225
April	$6 975.28	0,02150451
May	$9 198.19	0,01630756
June	$7460.17	0,02010678
July	$6636.50	0,02260228
August	$7 738.25	0,01938423
September	$7 027.63	0,02134432
October	$6 626.04	0,02263796
November	$6 366.72	0,02356001
December	$4 009.69	0,03740938

• Total Satohsis for 2018: 0,24480259
• Total Satohsis value 2018: (based on last USD price of 2018 - $3 788.19)
• $924.91
• Loss: - $875.09 or 48.6% loss ($1 800 - 924.91)

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• Total Satohsis value at 2020: (Based on price $9 582.12)
• $2 345.72
• Profit: + $545 or 30.3% profit

2019

Month	Dollars	BTC
January	$3 692.53	0,04062255
February	$3 431.94	0,04370706
March	$3 815.61	0,03931219
April	$4 103.52	0,03655398
May	$5 292.82	0,02834028
June	$8 575.65	0,01749139
July	$10 888.10	0,01377651
August	$10 063.00	0,01490609
September	$9 607.29	0,01561314
October	$8 271.29	0,01813502
November	$9 151.82	0,01639018
December	$7 556.40	0,01985072

• Total Satohsis for 2019: 0,30469912
• Total Satohsis value 2019: (based on last USD price of 2019 - $7 240.43)
• $2 206.15
• Profit: + $406.15 or 22.6% profit ($1 800 - 2 206.15)

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• Total Satohsis value at 2020: (Based on $9582.12)
• $2 919.66
• Profit: $1 119.66 or 62% ($1800 - 2919.66)

2020

Month	Dollar Value	BTC
January	$7 195.15	0,02084738
February	$9 308.06	0,01611507
March	$8 552.99	0,01753773
April	$6 421.71	0,02335826
May	$8 610.64	0,01742031

• Total Satohsis for 2020: 0,09527874
• Total Satohsis value 2020:(based on latest USD price of 2020 - $9582.12)
• $912.97
• Profit: + $162.97 or 21.7% profit ($750 - 912.97)

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Total DCA for 2019 - 2020

• 0,64478045
• Total Satohsis value 2020: (based on a latest USD price of 2020 - $9582.12)
• $6178.36
• Spent $4350
• Profit 1828.36
• 42% up in nominal value

I didn't feel like factoring in inflation or I'd have to really break out the excel sheets. So there you have it guys, my dollar cost averaging guide to focusing on owning 1 coin. It's been a long road and if you ignore the prices you'll end up in a pretty good spot if you look at this slice of Bitcoins timeframe.

I'll continue my run until the next halving without skipping a beat and see where I end up, hopefully I'll be a one corner by then and be up on the purchase of it overall.

Have your say

What do you good people of HIVE think? What's your Bitcoin strategy like?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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