Show HN: Bitcoin investing using Dollar Cost Averaging strategy • Hacker News Board

Re: Show HN: Bitcoin investing using Dollar Cost Averaging strategy

#121

Post by overcast » Tue, Aug 29, 2017, 6:15 PM UTC

rvschuilenburg wrote: post #119

overcast wrote: post #113

Earlier quoted context omitted.

A very small minority of people control the vast majority of Bitcoin, it goes from thousands to hundreds over a course of months. All from manipulation by that small minority.

There's also a small minority of people that control the vast majority of USD. A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services. Bitcoin has no such thing.

Except the price of the USD isn't manipulated to such an extreme, only to encourage others to join in so they can be cashed out.

Re: Show HN: Bitcoin investing using Dollar Cost Averaging strategy

#122

Post by test6554 » Tue, Aug 29, 2017, 6:52 PM UTC

overcast wrote: post #121

rvschuilenburg wrote: post #119

Earlier quoted context omitted.

There's also a small minority of people that control the vast majority of USD. A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services. Bitcoin has no such thing.

Except the price of the USD isn't manipulated to such an extreme, only to encourage others to join in so they can be cashed out.

It represents a massive massive redistribution of wealth rather than a pyramid scheme. Not an even distribution, but a different distribution for sure.

Re: Show HN: Bitcoin investing using Dollar Cost Averaging strategy

#123

Post by relyio » Tue, Aug 29, 2017, 7:46 PM UTC

fiatjaf wrote: post #81

trophycase wrote: post #79

Earlier quoted context omitted.

What's wrong with Tezos?

Nothing wrong, I just think it is silly. It's only feature is on-chain voting on protocol changes, something that wouldn't have prevented the Bitcoin hard-fork, for example. It also assumes hard forks are always bad and that everything can be agreed upon with votes, as if everybody were always satisfied with election results.

>It's only feature is on-chain voting on protocol changes

>It also assumes hard forks are always bad and that everything can be agreed upon with votes

Those two statements are incorrect. If you want to understand what it brings to the table, then you should read the position paper: https://www.tezos.com/static/papers/position_paper.pdf

Or watch a presentation by the lead about Governance: https://www.youtube.com/watch?v=6OWxGqbknFQ

Re: Show HN: Bitcoin investing using Dollar Cost Averaging strategy

#124

Post by popman » Thu, Aug 31, 2017, 4:01 PM UTC

When I saw this initially, I thought this'd be a bunch of graphs detailing how you would have done to invest using DCA at different times in the past, and at different amounts.

I'd be interested in seeing that as well.

Re: Show HN: Bitcoin investing using Dollar Cost Averaging strategy

#125

Post by AgentME » Thu, Aug 31, 2017, 8:02 PM UTC

Buge wrote: post #114

AgentME wrote: post #59

Earlier quoted context omitted.

The transaction fees at Kraken and many other cryptocurrency exchanges are percentage-based, so that issue shouldn't apply here.

It would still apply. Them taking a percent of my money every trade hurts me. Is there any guarantee that my profit per trade is larger than their fee per trade?

You pay the same amount in fees for buying a lump sum of $100 in Bitcoin or for buying $100 in Bitcoin over a week using dollar cost averaging. If dollar cost averaging with no fees is better than a lump sum with no fees, then I'm not sure how adding the same fee to both strategies could make dollar cost averaging any worse relatively.