Using tags to keep track of balance¶
Note
You need persistent storage to keep track of tagged balances. See Setting up persistent storage for Bitcoin DCA
What is tagging and what can I use it for?¶
Tagging is a multi tenant solution for DCA. It enables you to categorize each buy and maintain a balance for each category created. For example, you could use it to save some Bitcoin for your children. It’s as easy as supplying.
Example: Bobby¶
Lets say I have a kid called Bobby, I’m a true believer Bitcoin will someday rule the world and I would like to save some Bitcoin for him separately from my own account. I would then buy Bitcoin the regular way, except now I would provide a new argument: -t bobby
.
$ docker run --rm -it --env-file=/home/bob/.bitcoin-dca ghcr.io/jorijn/bitcoin-dca:latest buy 10 -t bobby
Then, when time comes to withdraw, you can withdraw his funds to a wallet of his own:
$ docker run --rm -it --env-file=/home/bob/.bitcoin-dca-bobby ghcr.io/jorijn/bitcoin-dca:latest withdraw --all -t bobby
Note
Docker can’t handle both -e
and --file-file
, it’s best to create a seperate configuration file containing another xpub or withdrawal address.
Of course, other examples are possible, e.g. tagging balance for buying a house or a car.
Technical note, tagging works like this:¶
- Buying 10.000 with tag
mike
, Mike’s balance is now 10.000, total balance 10.000; - Buying 10.000 with tag
bobby
, Bobby’s balance is now 10.000, total balance 20.000; - Buying 15.000 with tag
mike
, Mike’s balance is now 25.000, total balance 35.000; - Withdrawing all for tag
mike
, initiating a withdrawal for 25.000 leaving the balance for Mike at 0 and Bobby 10.000.