Lesson 1: Cease considering it’s too late. We haven’t even seen the tip of the iceberg. Even in 2013, individuals would say “People who purchased in 2012 have been so fortunate, we’re too late. We’ll simply get the scraps.” Identical for 2017. You would like you got when it was low-cost, however would you? Most likely not. Why didn’t you purchase extra when it dropped to $4K final 12 months? Would you will have held in case your cash tripled or quadrupled?
Everybody has been telling me it’s too late since 2013. 99% of my mates did not purchase at $200, or $2000, or $20,000 per BTC as a result of it was “too late”. Do not make the identical mistake. It is not too late, Bitcoin is not even a teen but, it is solely 12 years outdated.
Lesson 2: Cease fascinated by the 50 BTC you misplaced on satoshi cube (yeah, cash have been low-cost again then), or the 5 BTC for that bag of herb that you simply smoked (or that acid you took). It’s gone. Cease considering you must have offered at $20K and acquired again in at $3K as a substitute of hodling all the way in which down and capitulating “to purchase at $1.8K”. Cease considering you’ll be able to time the dips, and promote the tops. Cease regretting not shopping for earlier.
Briefly, cease fantasizing about what you possibly can have completed prior to now and begin fascinated by immediately and the longer term. That is the mindset you must have:
“What ought to I do immediately, in order that tomorrow, I received’t remorse yesterday?”
“Purchase Bitcoin” is the proper reply, by the way in which.
Lesson 3: Constructing issues would require plenty of sacrifice. I’d have far more BTC if I did not begin a Bitcoin startup within the Philippines again in 2014. 7 years on this trade looks like 70! I grew many white hairs within the final 7 years. I do know many individuals who’ve the identical expertise — those that can be wealthier and extra relaxed immediately had they only purchased Bitcoin and Hodled as a substitute of constructing stuff. However on the finish of the day, you’ll be able to nonetheless accumulate AND construct. Once more, it’s not too late, even at this stage. Stack sats whereas constructing stuff! And all the time do not forget that the spine of this trade are the tens of 1000’s of individuals on the market, constructing stuff to make Bitcoin WORK, to make Bitcoin accessible. This is not some vaporware with no backing – it’s backed by human ingenuity and the blood, sweat, and tears of all of the startups and firms on the market ensuring this factor survives and thrives.
Lesson 4: Bitcoin will hold shocking us. Don’t consider individuals who let you know they know what is going to occur. While you assume it’s time to promote since you’ll be capable of purchase cheaper later, it’s going to escape and up. While you assume we are going to “by no means see X worth once more” we’ll see it once more. When individuals say that is is, that is the height, it will not be the height. Be ready for faces to soften and minds to crumble into insanity from disbelief at what Bitcoin will obtain.
There isn’t any military on the earth that may cease an thought whose time has come.
Lesson 5: Bitcoin is a exceptional phenomenon, a as soon as in a era alternative to take part within the evolution of how we transfer worth all over the world. Anybody that tells you in any other case is both ignorant or making an attempt to deceive you. This community has gone by way of essentially the most essential checks of stress and time that make it anti-fragile. Stress and time, that’s actually all it takes. Every thing else can be constructed round this bedrock basis.
Lesson 6: Mass adoption is a fable. Bitcoin doesn’t want “mass adoption”. Extra like, mass adoption wants Bitcoin. It solely wants a small % of the world’s wealth to “get there”. Bitcoin makes no guarantees apart from to reliably and persistently create new publicly verifiable blocks of immutable transactions each ten minutes. That is all it must hold doing persistently and securely for its worth to extend exponentially over time. Every thing else is gravy.
Lesson 7: We nonetheless have at the very least one other decade of this loopy rollercoaster trip earlier than Bitcoin begins to get even barely boring. Simply strap in and luxuriate in it.
Lesson 8: Make some mates alongside the way in which. Make enemies if want be. I’ve made lifelong connections and relationships within the final 8 years on this trade. I’ve had a devoted Buttcoiner hate group that created faux accounts much like my identify to attempt to embarrass me. Pretend accounts, phishing, hacks, private assaults. I do not give a fuck. And like I hold saying, we’ve solely simply begun.
Loads of the individuals you meet immediately can be taking part in large roles on this trade within the close to future. You’ll be in good firm when the time comes. On the finish of the day, life is all in regards to the relationships you make alongside the way in which. Make sure that they’re significant ones.
Many of the mates I made since 2013 who’ve caught round are already rich past their wildest goals, and so they’re nonetheless sticking round, giving again, serving to others, serving to their communities, doing superior shit.
Lesson 9: Do be careful for snakes and wolves disguised as individuals. Been scammed, lied to, stolen from, used, abused, harassed, you identify it. There are plenty of dangerous actors on the market, hiding behind smiling faces. They need what’s yours and can undergo nice lengths to get it. Do not let anybody let you know totally different. These individuals will stab you within the again, slit your throat, take every part, and go away you out within the alley speaking to your self about what the fuck simply occurred. Should you do not consider me, you then’re the lamb that is going off to the slaughter.
Lesson 10: Take it simple. It’s simple to get caught up in all of the hype, to need all that focus. It’s simple to get misplaced within the confidence of a bull market and the despair of a bear market. Step again and attempt to achieve the peace of a lofty perspective.
While you’ve been within the Bitcoin recreation for some time, you achieve a sure peace. A relaxed consolation. Eyes open, ears open, radar up. Absorbing each message. Taking every part because it comes. Not mixing what they are surely with what you need them to be. It is like an aerial view.
A view from above the myriad luck-dependent reactions of those that by no means achieve such a peace. And once you achieve that view, that peace – once you’d somewhat have the reality, regardless of how disappointing, over a false hope, regardless of how fascinating – then you’ll lastly perceive the true that means of hodling Bitcoin.
See you guys in one other 8 years.
Edit: Wrote this two years in the past, edited it a bit to mirror sure current developments. Again then, Bitcoin worth had simply damaged out of the deep recesses of the 2018 bear market and rose from about $3500 to $10000 in a few months. Thought it was value a re-share immediately.
Edit: Including among the finest articles about Bitcoin on the market, The Bullish Case for Bitcoin. A must-read for all newbies and veterans alike.
submitted by /u/Godfreee