I will definitely write about bitcoin more in the future, but I mainly wanted to share with you this awesome meme that I made and then leave you with two quick things.
So, two lessons today: (1) buy bitcoin! Put a little bit away every month or every paycheck, even if it's the smallest amount. There are many things in this world that are more important than money, but having money is the best way to enjoy them! Saving money is a representation and a preservation of the work that you have put in throughout your life. I believe that, over the long term, bitcoin is the best store of value. Because of its ease of use and ease of transfer, I consider bitcoin to be an even better unit of value than gold.
In the mean time, (2) learn to go on with your life without Bitcoin! In other words, buy your bitcoin, hodl your bitcoin, and then leave it alone. Do nothing with it. Don't try to trade. Life is better when you are capable of going on in life with the background knowledge that you do have wealth, that it is available should you face a dire emergency, but that you do not need to spend it.
I hold my bitcoin on a Trezor hardware wallet. It is the only hardware wallet I have had experience with and is the only one that I would recommend. Consider picking up yours here.
I bought my first piece of bitcoin in January, 2016 (I remember putting in an order on Coinbase on December 31st). The minute I clicked "buy," I was immediately scared that the FBI or someone like that would come crashing through the door.
But nothing crazy happened.
I have hedl ever since and bought more. Actually, I sold a little bit early on when I was naive and stupid. I am an idiot for doing so; there are no excuses. I will not be so foolish again!
I am prepared to ride the price waves until the day comes when I actually sell (if ever). I guess I'm waiting for the day that I can just cash out and retire off of bitcoin, or maybe cash out and pay off my house: it would take something as life-changing as that. I imagine that it will be tough to actually part with what bitcoin I do have! At the earliest, I foresee this to be no earlier than the 2020 or 2024 halving, or maybe after.
It actually sickens me to think of a time when I might be without bitcoin. As Simon Dixon says, "It is offensive to sell bitcoin." I don't want to sell, but I do want to buy more.
If you buy a little bit at a time at regular intervals (dollar cost averaging), I believe that you too will be pleasantly surprised in the future. The challenge is to think long term and to stay strong, even during bear market cycles.