Subnostr

DCA is the way, definitely. Would love to hear a show with updated content on UTXO consolidation to avoid the dust problem. Also, would love your thoughts on the latest tax reporting requirements in the US regarding Bitcoin.

Jack Spirko 1y ago

Some thign is coming but low daily buys DO NOT HAVE SHIT TO DO WITH THIS, unless you act like an idiot intentionally.

How you do this, LEAVE IT ON THE EXCHANGE until you get up to 500-1000 dollars, then withdraw to a single UTXO.

Don't hodl on exchange but do hold until it makes sense to withdraw.

I also think it makes sense at this point to once you have a few whole coins to consolidate to about .25 to UTXO over time at low cost times to consolidate. Say you have .5 well do .1 or .05 per. But none of that has a thing to do with buying low cost DCAs, at all unless you are a dip shit and insist on self custody for less than you'd spend on a long weekend with the guys bar hopping.

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Discussion

Trainer Dan 1y ago

Thanks Jack, spot on as always

Paul Allen 1y ago

Jack was probably the first bitcoiner I followed who said anything about waiting until you reached a minimum number of sats before sending to self custody. Everyone else (myself included) was just parroting "Never leave sats on the exchange" without understanding the potential problems that could cause in the future.

Maybe we were just expecting to wake up one morning and find our $100 buy worth $10K and Coinbase out of order yet again. lol