My friend asked me to write this. I was hoping to explain to him over the phone what was going on with Bitcoin and the other cryptocurrencies which are available to everyone. I was hoping to persuade him to make a modest investment, for his own profit, doing all the work himself, just like he does everything.
Disclaimer: I could be wrong about all of this. If you take action on what I write in this essay, you are responsible for your actions, not me. Caveat emptor (buyer beware).
This appears to be the beginning of another Bitcoin bull market, a time when you can invest, hold on to your investment for 2-5 years, and make a seriously large return on investment or ROI.
Much has been written and spoken about Bitcoin and the crypto market since it launched in 2009. It helps to follow people who are successful investors. I recommend you look up Alessio Rastani on YouTube, as well as Crypto Crew University and Crypto with James. They seem to be very successful investors, especially Rastani.
Bitcoin is a type of investment that is accessible to almost everyone. It’s super powers are 4 things that make it valuable across the world for all people, and it’s likely to NOT go away until these 4 things are no longer important.
First, It’s peer to peer. No bank, no government, no one known can stop a transaction between individual Bitcoin wallets. A wallet is where you access your Bitcoin. I have a friend who had his bank account frozen based on a divorce ruling, preventing him from using his own money. It wasn’t really his, because it was in a bank he didn’t control. Bitcoin and most cryptocurrencies are immune to such nastiness.
Second, it’s open-source. Around the world, since 2009, the biggest brains have been trying to crack the code to counterfeit a Bitcoin transaction, and due to the nature of its open-source code, this has proved impossible. Closed-source code is like Apple and Microsoft, they take your data all the time without asking, and you can’t see what they’re doing behind the scenes. Bitcoin’s code is and always will be open-source, meaning geeks around the world have looked at all the code and declared it safe from closed-source shenanigans, such as the nastiness of big tech. Many other cryptocurrencies besides Bitcoin are also written in open-source code.
Third, it is decentralized. There is no central bank of Bitcoin, or almost all cryptocurrencies. It is controlled by the hundreds of thousands of Bitcoin miners, and by the people who have the ledger on their computer of all transactions, AKA the Blockchain. The control of more than 400,000 mostly anonymous people around the world would be required to compromise the way it is decentralized, and so far the majority of techno savvy people agree that this hasn’t been possible and won’t be possible to achieve.
Finally, Bitcoin is encrypted, which is why it’s a cryptocurrency. Heavily encrypted, and if you prefer anonymous transactions, coins like Monero and Pirate Chain allow for untraceable anonymous transactions.
All assets move up and down. There are multiple cycles of all the cryptocurrencies going up to an all time high, correcting down 60-80%, leveling off, and then going up to a new and much MUCH higher all time high. Bitcoin and the other cryptocurrencies are relatively down and the charts of the prices indicate to many of us that it’s on the way up to a high price sometime between 2024-2025. Some people say that the next high will be $78,000 Bitcoin. If you buy high, and then sell when the price goes down, you lose. If you buy low, and you can simply hold it until the price goes up, which has been historically accurate if you can hold for 2-5 years, you profit.
People who say they lost money on Bitcoin bought when the market was high, and when it corrected down they sold. Other people lost because they couldn’t keep the coin in a wallet they controlled due to poor security procedures. JUST DON’T DO THAT.
You don’t need to throw lots of money into this to win, but you do need skills, patience, and knowledge. You can buy $10 a week until 2025, and you will probably win big. This method is called Dollar Cost Average, DCA. Instead of buying a bunch of coin all at once, just get a little every week.
DCA all the way to the bank!
The easiest way to do this, if you live in a civilized location where Coinbase is available, is to set up with the exchange Coinbase and buy bitcoin and other cryptocurrencies. If you live in a more restricted location, like I do in Hawaii, you find other exchanges and buy your coin there instead. After buying coin, you ALWAYS send your coin into secure wallets that you control, and you NEVER keep coin on an exchange longer than necessary. Trusting an exchange with your coin is like trusting a politician to keep his word. Just don’t.
If you have children, and you can afford $10 a week, buy some Bitcoin for them, and some other top marketcap coins, and set it aside in private wallets for them. They will thank you. It could mean they get to buy a car, or land, or a house, or have some capital to start a business. If you have children and you can’t afford $10 a week, I feel very sorry for you. If you skip this opportunity, and you don’t buy coin for your children, you will look at them later on, in 2025 – 2027, and remember that $26,000 Bitcoin was a steal, and you were wrong to miss this opportunity.
That’s what you might think, IF you have any humility and IF you can admit to personal errors and mistakes. If you have cognitive dissonance from reading all of this, because you missed out on several bitcoin bull markets, and you maybe bought high, sold low (making loses) or you totally sucked at keeping a wallet secure….I’m surprised you read this far.
So….. just get a little bit of Bitcoin and any of the top marketcap coins every week, and store them safely. Do it for yourself, or do it for your kids. If you don’t know how, and if you know me, and you like me, and you trust me, you can hire me to help.
If I don’t have any Know/Like/Trust (KLT) with you, that’s cool. Set up an account with Chat GPT. Ask it how to buy Bitcoin and cryptocurrencies, how to use an exchange, what are trustworthy exchanges, how to safely choose a private wallet for storing your cryptocurrencies, ask it what safe cryptocurrency wallet procedures are. It will tell you something, and it might even tell you the right and safe way to do it all. For some people, Chat GPT has no KLT.
I hope my friend likes this essay, and I hope I’m right about crypto. Because the power of having an elite swiss bank account in your pocket, something no one else can freeze, or audit or peek into, is what makes crypto worth holding and using.
Just get some Bitcoin, and hold it till it grows up. I’m wishing you financial success.