If You Only Read One Thing Before Buying Bitcoin, Read These Few Lines
You’ll get the best possible start in this new world.
There you go, you’ve finally made up your mind. After months of hesitation, you finally decided to buy Bitcoin for the first time. I’m not going to tell you that this is a bad thing since I think this decision will change your life forever.
Your life will change, but for the better. However, for this to happen, you must make the effort to read the few lines of this story before you buy Bitcoin for the first time.
There is no need to lie to me, I know that it was the greed that led you to decide to buy Bitcoin.
I’m not here to judge you. To tell you the truth, the majority of people who first bought Bitcoin in the last 5 years were initially attracted by the incredible return Bitcoin offers its users.
No one has forgotten that Bitcoin has transformed $1 invested in 2010 into $90,000 by the end of 2019. A return of +9,000,000% over a decade is something that had simply never been seen in history until Bitcoin.
So Bitcoin is quite revolutionary.
By buying Bitcoin, you are not making a mistake. But if you buy Bitcoin and stop there after your first purchase, you’re making a mistake.
You came to Bitcoin for the money, now you have to find out the ugly truth
The people who will benefit from Bitcoin as a whole are those who will go beyond the financial side of Bitcoin. To do this, you will need to develop your critical thinking skills to question the things that the education system has taught you since you were a child.
Don’t Follow Blindly the Masses, Educate Yourself, Then Buy Bitcoin
Educate yourself because no one will take care of you for you.
You probably think that the current monetary and financial system has always been there. That is the first mistake.
The current monetary and financial system was unilaterally instituted in August 1971 by Richard Nixon when he ended the U.S. dollar convertibility to gold.
So the current system is very recent. It is an experiment that will celebrate its 50th anniversary in 2021.
Until now, you have never really been interested in anything to do with how money works or the economy. However, if you want to buy Bitcoin, you need to understand some basics. That’s what I’m doing with this quick course for the impatient.
At first glance, you might think that the fact that the U.S. dollar is no longer convertible to gold has no impact on your life today. It’s another mistake that 99% of people in the population make.
Gold is something tangible that exists in limited quantities.
The fact that the U.S. dollar is no longer pegged to gold as it was during the Bretton Woods system from 1944 to 1971 allows the Federal Reserve to print as many U.S. dollars as it wants. Every other central bank in the world does the same thing.
Since March 2020, the Fed has printed more than $3 trillion. This represents an increase of almost 20% in the outstanding money supply of the US dollar.
The current system is a get poor slowly scheme
Again, you might think that all this money supply stuff is not your concern when you just want to buy Bitcoin. It would be another mistake to think that way.
The great monetary inflation that we are currently experiencing worldwide will devalue all fiat currencies. This phenomenon has been present since 1971, but it will increase in the coming years due to the easy money policies of the Fed and other central banks.
This simple example will make you jump out of your chair:
The purchasing power of $1,000 in 1971 only represents a purchasing power of $150 in 2020.
This represents an 85% drop in the value of the U.S. dollar since the current monetary system was introduced.
The current system has trapped us all in an infernal spiral where the printing of infinite amounts of fiat money keeps impoverishing us. Of course, there is one exception to this widespread impoverishment.
The richest take advantage as never before of the current system to see their fortunes swell again and again. This is the famous Cantillon Effect for which Bitcoin is your best antidote.
This Cantillon effect states that the way money is managed by a country is not neutral.
The U.S. dollar printed en masse by the Fed benefits mostly the richest people. By the time the money poured into the system reaches the poorest, they have already been hit hard by the devastating effects of monetary inflation.
The poor are finding it increasingly difficult to survive in such an unfair system.
Bitcoin is a fair system that benefits everyone
Your choice to buy Bitcoin is therefore a smart decision to protect your wealth from the quantitative easing monetary policies of central banks.
With Bitcoin, things are much clearer:
- There will never be more than 21 million BTC in circulation.
- Inflation of the supply of new Bitcoins is automatically halved every 210,000 blocks mined.
This monetary policy is the opposite of quantitative easing, which is abused by central banks. Quantitative hardening is phenomenal protection for you as a Bitcoin user.
You are guaranteed that the units of Bitcoin in your possession will become scarcer and scarcer over time, allowing Bitcoin price to rise sharply.
- The rising demand for Bitcoin will meet the inevitable decline in the issuance of new Bitcoins.
- Continued currency devaluation of the U.S. dollar in the coming decade.
By buying Bitcoin, you will have protected your wealth from all the arbitrary decisions made by a minority of people who are not representative of the people.
However, buying Bitcoin is not enough.
With Bitcoin, you are in total control at all levels
You must not make the mistake that some people make of thinking that there is no price to pay for the freedom Bitcoin gives you with what you own.
The freedom Bitcoin gives you comes with a price: it is up to you to take responsibility for what you own in Bitcoin.
If you want to be truly in control of your Bitcoin wealth, you must abide by the following golden rule:
Not your keys, Not your Bitcoins.
Your Bitcoins are yours only if you have the private keys associated in your possession. Otherwise, your Bitcoins can be confiscated at any time.
After purchasing Bitcoin on a trading platform, you will, therefore, need to transfer your Bitcoins to a hardware wallet immediately. This will allow you to truly secure your Bitcoins.
U.S. banks have just been given the green light by the U.S. banking regulator to offer their customers a service to buy and hold Bitcoin.
It may reassure you to think that you will buy Bitcoin with your current bank, but don’t be fooled.
Banks are part of the problem with the current system, they cannot be part of the solution. Bitcoin is the solution as long as you buy your Bitcoins yourself to own the private keys.
Beware of your greed
Also, beware of scams that are always present in the cryptocurrency world.
Recently, a Twitter hack saw a Bitcoin scam allowing unscrupulous people to extort nearly 13 BTC. One of the big lessons it teaches us about Bitcoin is that you must never let your greed get the upper hand.
Greed is your number one enemy in the Bitcoin world.
Greed Is the Number One Enemy in the Bitcoin World
Don’t let this sin make you miss out on the Bitcoin revolution.
Greed leads some to believe that by sending $1,000 to an address on the Bitcoin network, the person behind that address will send back double the amount of Bitcoin.
Do not make the mistake of believing this.
Bitcoins are scarce, you need to get them wisely: by buying them, by accumulating Sats, or by getting paid directly in Bitcoin for your work
The golden rule here is to never send your Bitcoins to a third party who asks you for them without a real reason.
Only Bitcoin matters, forget Sh*tcoins
The secret to quietly enjoying the Bitcoin revolution is to become a Bitcoin HODLer. This has incredible advantages. By signing up over the long term, you will become one of those who will enjoy the Bitcoin revolution while leading a quiet life.
Patience will be the key through your Bitcoin HODLer journey.
Before I let you go ahead and buy Bitcoin for the first time, I have one last piece of advice. Beware like the plague of other existing cryptocurrencies.
These cryptocurrencies, often called Altcoins are just Sh*tcoins if you want my advice. They will try to make you believe that they have greater long-term potential than Bitcoin. The marketing teams of the projects behind these cryptocurrencies will try that you buy their tokens by all means.
For this reason, these Altcoins are constantly criticizing Bitcoin. In a way, this is logical, because, without Bitcoin, these Altcoins do not exist. Those who try to protect themselves against the risk of Bitcoin failure by diversifying with Altcoins are mistaken.
Some people fall into the trap by buying tokens of these Altcoins. Sooner or later, you will end up regretting it when you realize that the majority of these Altcoins will see their value tend towards zero in the future.
Bitcoin is money, not another technology that can be replaced
Bitcoin cannot be replaced by an Altcoin, for the simple reason that Bitcoin is not a technology, but money.
Few Understand That Bitcoin Is Money, Not Just Another Technology
The stability of the Bitcoin protocol is a necessity.
The stability of Bitcoin that some critics say is there to protect the wealth that you put into the Bitcoin network. Based on this premise, you should not waste your time and money looking for the next Bitcoin.
Bitcoin is the Next Big Thing. Bitcoin is the next Bitcoin.
Just like the Internet has some limits, Bitcoin has some limits. I would be lying to you if I told you otherwise. But just like the Internet which has not been replaced, Bitcoin will not be replaced. Bitcoin will simply evolve thanks to the highly talented developers who work tirelessly to improve its source code.
After reading this story, you are ready to buy Bitcoin.
I hope you have realized that the trivial purchase you thought you were making is much more than that. Your purchase is a protest against the current system. By buying Bitcoin, you will be voting against the U.S. dollar, which is at the heart of a system that does not protect the people.
If you reach this level of awareness, then you will be able to join Bitcoiners. Everything will become possible for you because you will take full control of your destiny.
Thank you for your attention.