The Simple Act of Buying Some Bitcoin and Saving it Might Be the Best Decision You Could Ever Make.
Back in 2011 if I would have followed my words above I would be sitting pretty. You see at the time Bitcoin was $11. My partner and I were contemplating buying $3,000 each worth of Bitcoin which was the liquid cash I had available at the time.
Today that would be a little over 272 BTC or approximately $300K or a very nice home in Panama!!
Instead I put that money into gold and silver which I had been doing since 2006. Well, anyone who knows about precious metals understands that the precious metals have been stagnate since 2012. My gold and silver purchase in 2011 is worth less now than at that time. Good thing I started buying in 2006.
I Believe We Have an Opportunity of a Lifetime.
Buy the amount of Bitcoin that you can afford and just hold it. If you are feeling adventurous you can also buy some altcoins like Ethereum, Dash, Steem, @PIVX, etc but the key is to buy and hold. I don't recommend trading Bitcoin unless you know what you are doing.
If you still don’t own any Bitcoin, go and buy what you can afford, set it aside and forget about it for five years. In 2022 I want you to send me a message and tell me your story. - Randy Hilarski
I am saying this to everyone I know, all my friends and family, half think I am crazy. Then they hear about bitcoin on the news, and say, oh I heard about this on the news, at that point does it start becoming more credible. I show them videos, well try to, I send them articles, but eventually people will start doing research. I also heard of bitcoin back when it was $5, and then again when it was $40, I didn't have the money to invest back then, but it's not too late now, people don't realize ! It's also kind of hard to buy bitcoin, coinbase is easy now for me, but even to sign up was a pain in the ass, and their limits suck. I think once bitcoin becomes easier to buy (more atms, coinbase increases their servers, etc), it'll become more and more mainstream. I know other people who want to buy bitcoin and just don't know how and don't want to pay the high fees of the ATMs. User Experience and convenience is key! THanks for the post !
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I guess it depends on where people live as well. My first purchase was on Coinbase. Now I just buy from peers or use an Bitcoin ATM/CTM. We have kiosks all over Panama now where you can buy BTC.
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good advice buy and hold
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Good counsel, but I have some concerns...
The bitcoin network has become so bogged down that it is not working in a reasonable fashion these days. It needs some serious repair, and one of my big concerns is that statists will get their mucky hands into it and tie it into banking and regulation. This is already happening at the edges where conversions occur.
However, it is clear to me that the basic thesis of your article is correct. More and more wealth will flee government currencies as government continues to dilute and destroy them.
😄😇😄
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I never worry about the system itself. Like every hiccup BTC has had in the end it works itself out. There is too much involved for the community to fail in my opinion. The ego needs to subside for the community to continue to grow.
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Hoping you're right. It has been quite interesting to see the large bump in the value of many "secondary" cryptos recently. I think it portends the coming collapse of the various governments' financial house of cards. This would be a very good time for the wise to flee into crypto. The trick is figuring out which of the secondaries will be most successful.
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Buy and hold, that is very sound advice, especially with the way things are shaping and shaking up these days in the world. I am immersed into learning as much as possible on this stuff and I appreciate your sharing of knowledge @hilarski, it truly helps out everyone who takes the time to dig in a bit.
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so you propose to sell steems and buy bitcoin?))
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Did you read the article ; )
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Dear @hilarski! Very interesting. Thank you!
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You will laugh. Two weeks ago I have decided to change all my alts into btc, that was short before the hf drama. Anyway what happens that was a good idea because they are all now on a nano ledger s and going longterm offline. The next incomes and money what I get will I more diversify into eth, ripple and even a few litecoin. When the chinese gov really will be open for cryptos- then better be prepared ;-)
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You and I both made the move a few weeks back. I felt safer in Bitcoin with the altcoin run up. I made some decent money during the mania. Now this month I will take 1 BTC in buy some more PIVX and ARK. Each month I will buy 1 BTC worth of Alts but different ones. The goal is to have a little of each one of the top 50.
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Absolut agreed :-) 50% I will spend into btc and 50% will be spend for nice altcoins. I will check ARK :-) Missed the PIVX train because I did not listen to Master Basil ;-) Thanks a lot for sharing your experience and your kind advice.
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HelLo sir
What do you think about buying Ripple "XRP " and holding it for 3 -5 Years?
THanks for the post !
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I don't like Ripple they are connected to the traditional banking system. If you are just looking for profit then maybe it is a good place to be. I stick to world changing Crypto like Steem, Pivx, Dash and Bitcoin.
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I do have a little bit of BTC that's just "sitting there;" I tend to favor buy and hold over active trading anyway... I never was much good at predicting the "gold rush of the moment," and I don't have the time (or inclination, really) to sit down and get micro-involved in technical analysis.
But yeah, it'll sure be interesting to see what they next five years brings.
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Hey! Just saw your interview in Panama, and that got me here. Good stuff! BTW, have you tried the "BRED Portfolio?" Bitcoin, Ripple, Ethereum, Dash. Up 380% so far in 2017.
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Good points in this article. I was about to start a similair discussion. The quality coins are here to stay and it's like buying in at the S&P 500 50 years ago. Cryptos will fall and rise at a more rapit phase any investment market has ever seen. Just hold (literaly) and enjoy the ride. We do need more indept investment analysis. I found this amazing platform: https://www.coincheckup.com I'm really happy with this site that gives complete coin analysis for every single crypto. On: https://www.coincheckup.com/coins/Bitcoin#analysis To check Bitcoin Detailed analysis
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