I'm not a Bitcoin Maximalist, and neither are you, after all...
...we are both blogging and consuming content on an obscure, digital money-generating, anti-establishment fighting, pseudo-anarchy supporting, deep-web-money-laundering relating, taxation-is-theft promulgating, inflation-kills-economies believing, conspiracy-theories accepting, self-definition living, off-grid-mentality acquiring, revolutionary-mindset thinking, North Korean crotchet weaving, Latvian-Origami making, Norwegian Guerilla training, Peruvian Salt Water drinking, ecosystem.
We are the kind of person that believes Hive will eventually and ultimately moon, and that's why we are here.
But that doesn't mean we don't see the intrinsic value of holding Bitcoin long term.
Over the last few days I've gotten several whatsapp messages asking me about Bitcoin and if they should buy right before what is considered alt-season and BTC all time high season. Even they have heard that Crypto pumps stupidly high in January, and the FOMO comes to their minds - most of them will forget about it in a few weeks when the news channels tell them to, but right now they are interested.
So, in order to have a small draft that I can just copy and paste into every conversation with every single person asking me about BTC, and go on with my life and let them decide for themselves.
Are you interested in Bitcoin?
- Bitcoin doesn't have a TOP price and the All-time-high will keep breaking through, because FIAT has no bottom. There's no way that central banks and the World Bank Group will let FIAT go to zero, so as long as there's fiat money around, there will be Bitcoin pumps.
- Don't try to time the market: If you have extra cash that you don't need and want to invest, buy Bitcoin. Don't attempt to guess if the price will go down or up, just buy and store your BTC.
- Hold steady. Even if the price plummets, do not sell you BTC at a discount to the millionaires waiting for you to sell - and maybe even pressuring you to sell by attempting to manipulate the market.
- The price of BTC is irrelevant. As long as you hold BTC and not Fiat, you will be ok in the long run.
- Price crashes and price moons are normal. Leverage, futures and short/long positions are normal and the market reacts to them, these are forces you don't want to understand, just know that price swings are normal, don't get scared. Don't sell.
- If you feel like the market is trying to shake your pockets, shush it, buy more.
- It is never too late to buy Bitcoin. The Fiat currencies will always inflate and lose value, every time you buy BTC, you are protecting the value of your money against this inflation.
- Don't try to be handsome. Don't short, long or leverage trade. You will end up losing it all.
- Buy your BTC and store it in a hard wallet offline. Do not keep your BTC on exchanges. Once you buy it, transfer it. And do not lose your private keys.
- CBDC (central bank digital currencies such as the Venezuelan Petro) are a scam, not different than erc20 rug pulls. CBDC is just the digital equivalent of fake printed out-of-thin air fake FIAT money.
- Keep a record in Satoshis, never in USDs.
- Those traditional companies such as Paypal that allow you to buy BTC are not worth it and you shouldn't trust them, their long term plan is to control you and your BTC.
- Only buy Bitcoin, don't buy any of those BTC equivalents such as wbtc. If you hold those, you don't have any BTC, you are just holding an erc20 token pegged to BTC.
- Buy your own BTC, be responsible and accountable. Never use private hedge funds or the sort, they take away primes and percentages.
- Set a goal. A good goal could be 56 million Satoshis. That will put you in the top 6% of BTC holders. That's a nice position to be in.
And lastly...
Bitcoin is not a get-rich-quick scheme, it's a don't-get-poor-slowly scheme. Eventually you might be rich with Bitcoin, but the main goal is to store your monetary value.
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I must have been contacted by dozens of my friends asking about Bitcoin and crypto in general over the years. As far as I remember, I haven´t ignored any of those questions. I would love to know though how many of them eventually did get some crypto...
It would be great to have some numbers of people we "redpilled" into bitcoin, I know for a fact that at least 8 of my friends got into crypto thanks to me, but my conversion ratio is poor because I've tried to onboard more than 100 people over the past 5 years.
I have onboarded maybe 50 or 60 to steem (& hive).
How many are left? TWO
Well said, don't-get-poor-slowly scheme. Still, people are hunting the quick buck and are hyping during bull runs and panic during bear markets. Only those that have patience and afford to wait are being rewarded in the end.
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BTC was a get-rich-quick scheme 9 years ago, right now is exactly that, a don't get poor haha, patience is key when looking long (10years) term.
When I say somebody that I've mined my first satoshi's when BTC was $2.1, they always think I'm talking BS
What a great list of tips! Not just dos and don'ts, but more like a way of how to develop a healthy attitude towards BTC. I really like it. However, that bit of gem I couldn't help getting a huge kick out of, is this paragraph:
What a genius and witty way to describe our home blockchain! Thanks for the laughs!
I wonder if anyone notices that every political/economic post I write, I add another adjective to that list :P
I'm not a Bitcoin maximalist either. Some of my friends still don't have Bitcoin, many others don't know what Ethereum is. Personally I believe that Bitcoin is destined to grow, but it will lose dominance
It would actually be great if BTC kept losing dominance as long as the general market cap keeps growing, I agree. The first step is to introduce them to BTC, after they are sold on crypto, the next step is to onboard them into ETH and the other dominants and after that, the altcoins (hive as first step :P )
This definitely summarized this write-up... most people venture into crypto having the wrong mindset...if you invest on what you're to live on,you might end up making irrational decisions which could make you loss all at the end of the day as a result of fear and pressure but when the money invested is your spare,you will be more relaxed and calm even in the face of a serious momentary loss.
This is it, the wrong mindset and the wrong approach, because all they hear is what news media tell them and they do some half ass research and decide BTC is the way to go, without understanding the how and the why.
You're very right...it think it's high time they gave themselves to thorough research and not be tossed about with popular opinions. Thanks once again for that awesome write up.. will love to drop by to read more contents from you.
Measured in USD (admittedly a lame concept), there has never been someone who’s been a loser after hodling Bitcoin for at least four years. Even the most conservative investor should be impressed by that.
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BTC trumps every other investment, but since the short term volatility is huge (and that's what every normie hears off when the news media talk about BTC), they still see bitcoin as a high risk/low reward investment, when it is exactly the opposite.
Because of what's happening in Crypto, many people are still afraid to buy crypto while they forget that it will still bull
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The FUD around BTC driven by the governments, the news media, and the companies that want to protect the current status quo is too much for normal people, in order to understand BTC they have to understand that they are being lied to, and that's a truth hard to bear for pretty much everyone.
That's it
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James Corbett explores this topic in fascinating psy-op detail:
https://www.bitchute.com/video/FkhUn7nh33Q/
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This is a great vid, I had heard about James but never watched him, nice first vid for me, I appreciate the insight man!
Nice one, so pleased you dig! JC has done some mind-blowing stuff, here's a page of his main documentaries:
https://www.corbettreport.com/corbett-report-documentaries/
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Thanks for the advice, reinforces my thoughts on our situation.
It's actually quite predictable. Every time the market sentiment shifts bullish, or coins are going crazy the phone starts... I find it so strange because I have never asked people for investment advice. To me that is counterintuitive, I guess people lack confidence in their own research and decisions.
Shouldn't we only invest in what we understand, or have a grasp of? I definitely think so.
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I think this is a good set of informative facts about Bitcoin.
Thank you for sharing.
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