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Show HN: Bitcoin investing using Dollar Cost Averaging strategy

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

#11
post #3

Trading != investing, dollar cost average is an investing strategy, not a trading strategy; you have an investing bot, not a trading bot.

No, they have neither. This is just a script to purchase an amount of bitcoin. It has to be run manually for each purchase. It is easier I think to just login to the exchange every day and make the purchase. Not sure why this is so high on HN.

Buying on coinbase doesn't leverage the Dollar Cost strategy?

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

#15
post #10

Earlier quoted context omitted.

No, they have neither. This is just a script to purchase an amount of bitcoin. It has to be run manually for each purchase. It is easier I think to just login to the exchange every day and make the purchase. Not sure why this is so high on HN.

Pieter Levels wrote pretty much the same thing a few days ago, but most people that know about Pieter know he likes to automate things. I'm pretty sure he set his up as a cron job. https://gist.github.com/levelsio/ee9539134035492ba77a7be1b49...

yes you should add a cron to automate it daily

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

#17

I follow this manually. Buy 100$ worth top 30 crypto every week on bittrex.

i am ok with diversification, but 30 is way too much i think. I prefer leveraging the investment on less cryptos putting more in less of those

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

#18

I follow this manually. Buy 100$ worth top 30 crypto every week on bittrex.

Manually? So every week you do 30 separate trades on Bittrex? Seems like a lot of work and also you have 30 transaction fees (including the spread cost) for only $100.

I like this idea, but only if it's scripted and for more than $100 per run.

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

#19
post #11

Earlier quoted context omitted.

No, they have neither. This is just a script to purchase an amount of bitcoin. It has to be run manually for each purchase. It is easier I think to just login to the exchange every day and make the purchase. Not sure why this is so high on HN.

Buying on coinbase doesn't leverage the Dollar Cost strategy?

can't you set recurring purchases at set intervals on coinbase?

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

#20

I follow this manually. Buy 100$ worth top 30 crypto every week on bittrex.

Manually? So every week you do 30 separate trades on Bittrex? Seems like a lot of work and also you have 30 transaction fees (including the spread cost) for only $100. I like this idea, but only if it's scripted and for more than $100 per run.

Transaction fees (including the spread cost) on cryptocurrency exchanges are typically a percentage rather than a fixed amount. So it doesn't matter if you do $100 every week or $400 every four weeks.
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