On Halloween Day 2017 I purchased my first ever Bitcoin, literally the same day the announcement of CME futures came, which finally convinced my stubborn old brain that Bitcoin was a serious financial instrument. I eventually came to learn that Bitcoin is the hardest money on Earth. I continued to purchase Bitcoin over the next 3 years or so. My average purchase price was approximately $10,000 Canadian per Bitcoin.
During the last 4 years aka 1 having cycle, I also did a lot of trading of shitcoins as well as attempting some ETH mining. Overall this was not profitable as measured in Bitcoin. When I divide my total 4-year costs in CAD by the average price per Bitcoin I paid, I calculate that I only have 75.3% of the Bitcoin I could have had if I just put all that money on Bitcoin and held it. I do hold one other coin which I'm bullish on long-term, but I'm not going to shill that here. When you account for the current value of that other coin I currently have 80.8% of the Bitcoin value that I would have had if I would have simply put all of the money onto Bitcoin and held it.
I am actually fortunate that I hold 75.3% of my would-be Bitcoin stack, and 80.8% if you account for my only other major crypto holding. It could have been much worse. I'm hopeful over the next 4 years that my other holding will grow vs. BTC to allow me to get back to 100% of my would-be stack, which is all I'm looking for. I have no intention of drawing down any of my remaining Bitcoin to try to accelerate that effort. My remaining Bitcoin is in full hodl mode.
The lesson for me in retrospect is buy Bitcoin, full stop. Attempts to mine or trade shitcoins are very likely going to take away from rather than add to your stack as measured in Bitcoin. Bottom line? People who are new purchasers of Bitcoin this year might consider just buying and hodling. But then again a lot of us have to learn things the hard way.
That's all for now friends, see you in 4 more years, and Happy Halloween!
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