My Adventures of Bitcoin & Cryptocurrency Trading (pt. 1)
I began trading bitcoin in late 2013 when I bought my first fraction of “BTC” on coinbase. At this point I had been reading about it on reddit for a year or so and as the price was increasing daily I decided to get some and become a millionaire overnight like everyone else.
A few weeks later I decided to take a trip to California and needed cash instead of bitcoin. I’d buy back later when I had more money for saving. Ended up buying bitcoin again and a portion to buy some Dogecoin (pronounced DOHJ )because a friend had some and because I could buy a few hundred thousand “doge” for less than $100.
I had an ebay account and wanted to see if I could make some money by reselling to those who didnt yet have bitcoin (the only way to get dogecoin was by first having bitcoin).
Ended up doubling my money several times and getting my ebay account banned after repeatedly selling dogecoin.
Flash forward a few years after buying and selling bitcoin randomly in the low periods of odd jobs (owning a pedicab, flipping concert tickets, driving a mobile pub, driving for uber) to 2017.
Flash foward to early January 2017: Wake up, realize that I do not believe in the current antiquated monetary systems any longer for the following reasons :
- the money in my pocket reads “legal tender for all debts”
- the USA has around 20 Trillion Dollars of debt
- Fractional Reserve Banking is legal
- the federal reserve can print money (inflation) as it needs
I was not a finance major in college (NCSU) and am not great with my own finances, but the more I learn about money, the more I realize that the current system is unsustainable and does not favor the average American or the global economy.
I have moved beyond seeing bitcoin as a hobby and get rich quick scheme. To me bitcoin represents the future of currency, technology and transparency on a global scale.
My intentions are to figure out how to earn a living through the bitcoin economy while also traveling the world to see how different cultures are using this virtual currency day to day.
I am pursuing 3 different strategies (Selling bitcoin p2p , day trading, and Hodling) and will use the next post to give detail on how they are working out.
To the moon!
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