Humility in the Bitcoin Bull Market

I’m seeing a disturbing trend amongst my friends…

People will ask me for advice about Bitcoin,

And then somehow, after hearing the advice…

They completely disregard it and try to “time the market”

You know… Sell Bitcoin at $18k because they think it’s going to CRASH back down to $16k (where they hope to buy in lower)

Or perhaps even worse… Buy Ethereum (or even worse XRP or some other complete scam token) because Bitcoin is “too expensive.”

Look. I get it. $40k for one bitcoin seems expensive…

BUT, you don’t have to buy a full one.

You don’t even have to buy .1 or .01…

You can buy as little as $1 worth.

There are 100,000,000 sats in 1 bitcoin. Sats are the smallest unit in bitcoin (much like cents are for dollars).

1 sat = 0.00000001 BTC.

Right now, $1 buys 2,539 sats

At a price of $39,756 per bitcoin, I purchased 122,922 sats.

That’s 0.00122922 BTC.

See the conversion? It’s barely more than 1/1000th of a bitcoin.

Why? Because this is a game of accumulation.

My thesis is that bitcoin is going to be worth significantly more over the coming years. That means I want to get as much of it as possible.

Instead of “waiting for a crash” to buy bitcoin cheap. I just buy a small amount every day. (you could do this weekly or monthly if you prefer)

Dollar cost averaging. It’s the same as how your 401k purchases a percentage of stocks every paycheck.

You’re not sitting there thinking, “well the S&P 500 is at all time highs, so I’ll wait to contribute to my retirement once it crashes”

That’s foolish thinking…

Look, if you’re a professional trader. The top 0.1% who can already beat out millions of other traders on Wall Street… Then go for it. Try to time the market and prove that you’re smarter than everyone else.

But I’m not that smart… (or maybe I’m smart enough to realize that’s a losing game…)

Instead, I chosoe to Dollar Cost Average into bitcoin. We call it “Stacking Sats.” Each day, week, or month, I’ll convert a predetermined amount of dollars into Sats.

I don’t care what the price is. I believe Bitcoin is better money than dollars are. So I’ll make that conversion at a predetermined time interval.

I use a predetermined set of funds. That I’ve allocated specifically for this purpose. It’s calculated. It’s rational. It’s well thought out. I’m not using emotions (fear/greed).

Alt Coins or Cryptocurrencies

Finally, let’s quickly discuss these “Alt-Coins”. Some people will ask me: “Are you into “Crypto?”

Or they’ll say, Bitcoin is too expensive so I’m buying Ethereum instead.

Personally, I’m Only Buying Bitcoin.

Here’s why: Bitcoin is the original. Everything else is a copy. Bitcoin has network effects that are unlikely to be beaten. Bitcoin has been around the longest. It’s got the best developers. It has a fixed supply and has been successfully running for 12 years now.

People get sucked into these ‘alt-coins’ because the price is lower per unit.

It’s like buying a penny stock. Sure, you could get rich quick (but only if you know exactly when to sell them).

Bitcoin is (nearly) a sure thing in this space. It’s had the most attacks against it and has proven to be Antifragile.

No other blockchain is as secure as Bitcoin.

There’s many, MANY more reasons I could go into… But just know, at one point, I had over 71 different cryptos and I lost money on all of them.

Feel free to learn on your own, but if you prefer to learn through other people’s mistakes, let me tell you that Bitcoin is the one you want. The rest of these cryptocurrencies are distractions.

And yes, over the short term, some of these crypto’s will produce incredible returns (before crashing back down).

Practice humility and “Stay Humble, Stack Sats”

It’s the only thing you have to do.