06/07/2024 was the first time I bought bitcoin. I bought it on a whim and had done literally zero research. I bought $200 paid a $4 fee and the price of bitcoin was $71528.47.
It didn't take long to watch my investment start shrinking. I had bought the peak.
Instead of panic selling, I decided to look deeper into bitcoin. I read broken money, the bitcoin standard, bitcoin is Venice etc etc etc.
The more I learned, the more money I put in. I quit watching the price so closely and started to DCA.
The amout I DCA has increased dramatically and my time preference shifted significantly.
After finding Stacker Network I started running my own node and now I'm learning about Lightning nodes.
I think it's amazing the type of impact Bitcoin has had on my life. I would have never learned about the global financial system, or centralized banking, or the regulatory nightmare that the government is.
I'm looking forward to seeing what else I learn and how much further down the rabbit hole I can go.
Hopefully some of you have had similar experiences that you can share too.
Bitcoin certainly changes your time-preference. I've said before on SN that I think the most profound impact of hyperbitcoinization is not the "wealth transfer" but instead the societal time-preference shift.
In 2009 I bought a new BMW 545. In 2022, I bought a 2004 Honda Civic.
Yea, I don't see a world where I buy a brand new car right off the lot again. I have 2016 jeep wrangler, my next car will almost definitely be a used reliable Honda or Nissan.
Exactly, and the goal isn't to be a "miser". The goal is to leverage the most ROI across all parts of your life. Little by little your life gets better because your "sat stacking" prompted you to evaluate the real value/return of all things.
https://darth-coin.github.io/nodes/nodes.html
Wrong approach. Bitcoin is NOT "an investment". Start reading here: https://darth-coin.github.io/general/general.html
Once you will read all these guides you will see a whole new world.
I'm already working my way through your plethora of guides, which i really appreciate.
Also I still look it as an investment, but what I failed to mention is that at first I looked at it as an investment to grow my fiat. Now I look at it as an investment in my future. The only reason I concern myself with the current fiat value is because it dictates how much bitcoin I can get. My fiat is constantly losing value to BTC.
Bitcoin is much more than just some magical get rich quick "investment" where you wait for the magic "exit" price to fiat.
You are basically sticking tires on a spaceship and calling it a car, or like in the beginnings of the internet, they called it a “fancy fax machine”.
Try to use it daily, try to self host, try to send and recieve payments with your own infrastructure, play around with the different apps (lighting, ecash, etc.), try doing more and reading less, try not to listen much to all the "number go up" youtubers,
then you will most likely have the "aha" moment.
Please read carefully all my guides, starting with the general ones. On that Github page I organized them by category, to be easy for noobs to slowly learn step by step.
Once you will read the first 2 categories (general and beginner) you will understand why I said Bitcoin is NOT an investment.
Bitcoin is ENERGY stored in the most secured and brilliant way.
What people do every day, every minute? People are always in a continuous run for gathering energy, in many different forms: to eat, to store, to trade, to use it as money, to use it as savings. People depend 100% of energy. People are spending also large amounts of resources just for STORING energy.
And then Bitcoin comes and fix all of these problems: Bitcoin is pure storage for energy, secured by mathematical algorithms, something that will be eternal. If you own Bitcoin YOU OWN ENERGY FOR THE REST OF YOUR LIFE.
Will do. Thanks.
You are definitely on the fast track.
There's just so much to learn and it's all extremely interesting. I'm also very lucky in the fact that I can easily listen to 5 or 6 hours of content daily at my job, so I can breeze through audio books and podcasts at a fairly fast rate.
It took me probably three years to get to where you're at in 6 months. Impressive!
There are a lot more resources now than late 2016 when I got into Bitcoin. But yeah this is impressive.
Should serve you well too. Don't spend your first bull market getting distracted by shiny objects.
If anything I'm distracted with the price going up too fast. Selling bitcoin to buy a new toy seems insane.
And you’ve got the Broken Money editor to thank right here on SN! @denlillaapan
No shit?!
Thank you so much for your work @denlillaapan "Broken Money"
When people ask about reading material, that is the first book I recommend every single time. It was one of the first books I read on this journey and I still think it's the best book out there for explaining Money, and the importance of bitcoin.
I'm trying to get my family members to read it.
Wow. You are a fast learner. I had to lose so so much on my journey. I started in 2017, got into trading, leverage, shitcoins, staking, nfts, ifs it's a scam, I tried it. Now I am die hard Bitcoin only but it took me a lot of lessons. Good job cutting though the noise.
Thank you for sharing this short story. Bitcoin undoubtedly changes lives, each and every one of us progressively improves our lives once we fully immerse ourselves in the Bitcoin rabbit hole. May Bitcoin be with you! 💪🤠🍊⚡
This is the way
revolution
i am in so deep that i cannot talk or listen to like half the bitcoiners i used to like... or i hold some bitcoin fluff talk for a few minutes and move on to someone else.
I really appreciate you sharing your story. very very interesting. I first bought Bitcoin in about 2017. really on a whim from a suggestion from female that I knew casually. Now I have a long history and an education and finance. so I understand markets, money and banking. however, I never took it seriously until the early pandemic when both Republicans and Democrats voted to open up the printers. I knew I wanted hard money and initially started stacking precious metals, gold, silver, a little bit of platinum but then the more I dove into the hard money research, Bitcoin kept coming up as the solution.
wonderful story, eh.
Welcome to the party, we all walked peculiar paths to come here
Stay Humble, stack SATs.
YOU NEVER SELL YOUR BITCOIN
Yea, I'm not selling.
You're going fast!!! Good on you.
Been on Stacker News in only 6 months is a great achievement.
For me, the biggest change has been related to time preference and it become very hard to spend some SATs. I want to hodl for longer.
Enjoy the ride!
Well done, welcome!
Yeah! That's the spirit!
I started getting into alternatives to Big Tech platforms a few years ago and liked the way some of them used crypto to reward their users with a real tradable asset.
After being on Stacker News for a while, I noticed how much simpler it is to just use bitcoin for everything, rather than a different token for each platform. Eventually, I came to understand why ultimately bitcoin will drive all of those other tokens from the market.
Like you, the more exposure I got to bitcoin (from Fountain and Stacker News, mostly), the more I became all-in.
You are on the path. Good luck to you. Bitcoin will teach you if you are willing to learn. Its one of the more fascinating aspects to me. Incentives are all around us and affect us all. Bitcoin just makes it very clear.