So I joined the "crypto" space in the spring of 2021. I was looking to diversify my investments and to take a venture cap mindset built my own "crypto etf" mix of ~20 crypto tokens of various cap sizes and a few NFT's. I assumed this was Web 3.0 and there were players in different spaces and I spread out my risk.
After a few months I started to poke holes in this assumption as I noticed pump and dumps. A few devs behind one of the coins updating the tokenomics on a whim. I studied Bitcoin daily and went down the rabbit hole. I also try not to stay in a Bitcoin echo chamber as I feel that is dangerous as well. I now have a credit card and debit card with Bitcoin rewards, DCA, and store in cold storage. I still have further adoption to go but feel I'm on the right track. My ability to orange pill others has been limited, but lets see on the next bull run.
Lessons:
- Self storage - I had some crypto and sats staked on Gemini and lost them to the FTX/ Genesis mess that Gemini Earn off loaded to.
- First Principles - Know what the goal is. Bitcoin is a true scarce resource that can't be manipulated. All that the other coins do can all be replicated on Bitcoin when there is demand. People will say on-chain is slow, but Lightning solves that and layer 2, layer 3, 4, etc will come out.
- Bitcoin makes the world a more inclusive and better place. From the Human Rights Foundation involvement to the countless people driven to write books about it. I mean who writes a book on the pump and dump coins or attaches their real name to them?
- We are EARLY - adoption has a long way to go. Be patient. Stay humble and stack sats.
Next Steps:
- A miner or heatbit heater that mines? Trying to do it profitably...
- A node
- gifting BItcoin to my nieces and nephews - Ideas on this?
What's your story?