Newbies to Bitcoin are what makes the network thrive.
Think back to when you really jumped down into that Rabbit Hole and Bitcoin started clicking in your head..
You probably had that “Holy Shit” moment!
“Money that doesn’t need a bank, that can’t be inflated, can’t be censored, and is completely voluntary?”
The realization that there is a better way probably made you really excited, but at the same time you didn’t know exactly what to do with this amazing information.
If you’re fairly new (less than 2 years in Bitcoin) here’s some unsolicited advice…
Bitcoin Doesn’t Need Superheroes!
Our initial thinking may have been one of fear…
Your know, FOMO
We are usually scared silly that we are way too late, that all the big gains have been had, and that we need to throw 99% of our liquid net worth into Bitcoin.
Hopefully your didn’t do that.
Take a few day, or weeks, and just breath a little. Bitcoin isn’t going anywhere, in fact its just going to simply absorb all of the value out there slowly but surely. And this is going to take a little time.
So you can just relax, create a plan, and learn as you go.
The 7-Foot Bar - Don’t Hurt Yourself By Doing Dumb Things With Bitcoin
There is no need to try to “trade” in an out of Bitcoin.
There is no need to leverage, borrow on exchanges to get more Bitcoin, or borrow against your Bitcoin to try to increase your stack.
There is no need to overextend yourself by selling off your home, your 401K, your IRA, or any other large asset you hold currently to “ape in” to Bitcoin.
There is no need to put a huge chunk of capital into Bitcoin, before you fully understand it…
You would never think of trying out for the Olympic high jump competition, before training for years on end and fully knowing what you are getting into.
So don’t treat Bitcoin like that, simply start buying a little every paycheck, and then start LEARNING as much as you can as you go along.
The Bitcoin network is strong and robust. Most will make their big gains by simply buying, sitting on their hands, and waiting a really long time.
If that doesn’t sound like something you are interested in, its best to go gamble elsewhere, as the big money in Bitcoin will be made slowly - by compounding gains over several decades.
The 1-Foot Bar Everyone Can Easily Jump in Bitcoin
There is so much to learn about Bitcoin, it is good to take Warren Buffett’s advice on how one should approach any investment. Don’t make it bigger, or harder than it really is!
Volatility in Bitcoin makes it extremely scary for some, while others are intrigued by the possibility of multiplying their dollars quickly.
But you must zoom out, to when Bitcoin was discovered, and look at how the price has gone up (and down) over the last 13 years.
Head over to Bitcoin dollar-cost-averaging tool and play with it for an hour.
For an hour, plug in different dollar amounts over different time frames, and look at your results. You’ll be shocked, you’ll be intrigued, and you’ll be amazed!
This is how you play the long game with Bitcoin.
By long, I mean the next 10 to 30 years.
Yes, expand your time frame out that long and figure out an amount to put into Orange Coin over the next decade to secure your future.!