Just reached 5 Bitcoins & what i’ve learned so far

I have 5 BITCOINS. Here is my advice & journey

First of all, I have been DCA/accumulating since 2016. I have taken profits, traded little bit of futures, swung trade by timing the inevitable crash after each cycle etc. Today I reached 5 whole bitcoins and this is what I learned.

Feel free to agree, disagree or discuss. Healthy discussions are always welcome since i want all of us to do better. All our views/experiences will be different so only way to learn is to share with one another and widen our views :)

1. Money makes money. Don’t listen to those who talk about even 10000 sats will be a lot of money in the future. It won’t be. Bitcoin will not go to ‘the moon’. Your $1000 investment won’t turn into million dollars in the near future. Focus on increasing your personal income first, and THEN invest in bitcoin. I work in a sector where people make a lot of money and there are a lot more whole coiners than the bitcoin community likes to admit. Bitcoin was designed to fight the flawed monetary system, not capitalism. Again, bitcoin is NOT anti capitalism. They are two very different things. Rich will get richer with bitcoin. If you are chasing financial freedom, make more money. Bitcoin is great investment(if not the best one), but you cannot invest if you don’t have a lot of spare money. Remember, bitcoin is NOT a get-rich quick scheme. Those days are over.

2. Dollar will NOT collapse, at least in the near future. A lot of us love the idea of decentralization and fighting the corrupt bankers. Many of you guys believe in that meme about ‘when the time comes you won’t need to sell bitcoin’. That day will not come unless your government accepts bitcoin as legal tender. If the US dollar collapses, the world whole won’t just change their main form of currency to bitcoin, the whole government will collapse. Unless you are planning to hodl for literally forever, have an exit plan. You need to take profits and live your life. That’s what investments are for. Bitcoin doesn’t pay dividends or generate interests, unless you take profits, it is random number on your screen. Trading bitcoin back to dollar is not embarrassing and it shouldn’t be discouraged. Unless you are living one of 3 countries in the world, you won’t be able to pay the bills, taxes or buy food with bitcoin. Be smart and flexible.

3. DCA is the key. Even if you started to invest during ATH, if you DCA-ed since then, you will be in the green. No one can time the market. If you could, you would be a billionaire. Many people are shortsighted because crypto news always talks about someone turning $100 into a million dollars. That’s the equivalent of winning the jackpot at the casino. If you want to gamble, bitcoin is not for you. Just because it’s volatile doesn’t mean it will make you rich quick. This is a long game. Unless bitcoin goes to $0, it will eventually keep going up. Bitcoin is literally programmed to be a deflationary currency. It either keeps going up in price, or the whole thing collapses. If you believe in bitcoin, then you know you can’t lose with DCA.

4. Buy a hardware wallet and keep your phrases safe. I have multiple wallets and have split up my bitcoins into different wallets made by different brands. I put them all in one wallet just to take this monumental screen shot when i reached 5 bitcoins. Being decentralized means that you are your own bank. You can’t insure yourself and you can’t sue yourself when you lose it. Don’t make this mistake. Keep them safe.

5. Have a plan. Everyone has a different plan. My plan is to cash out when bitcoin reaches at least 100k per coin, then re-distribute my wealth (buy shares, property etc) and then start buying back bitcoin after the inevitble crash. I’ve been doing this for the past 2 cycles that i’ve been in and it has made me a bit of wealth. I’m not advising you to copy me as my plan is definitely not for everyone. But you should have a plan that is better than ‘accumulate until bitcoin becomes the universal currency’. Always prepare for the worst. And i MEAN the worst (bitcoin being obsolete, death of loved one or yourself, being bankrupt etc).

PS don’t worry about DMs and being a target etc, i wont be checking them. Stay anonymous and keep accumulating!