Over the weekend one of my good friends found me in a coffee shop while I was writing out my savings strategy for my SWEATeconomy token -keep an eye out for that blog post later this month. It was an interesting interaction because I got to walk a crypto neophyte through my philosophy and the strategies for the 1BTC project.
After my (hopefully) brief explanation she came back to me with one question and one suggestion.
She looked me in the face and said "why are you wasting your time with this?" As well as, "just buy a Bitcoin if you want one so badly."
Yes this is true. With bitcoin at its current price level, around 17K USD at the time of writing, buying a whole token isn't beyond the pale. It wouldn't be without pain, but it is doable. I think at these levels most adults without dependents could amass a large portion of a BTC over the next 6 to 12 months, if they made it a priority. But that is not the point of the 1BTC Project.
In my opinion, the biggest stain the crypto space has is that crypto is all but synonymous with get rich quick schemes. For example, the banner ads on this window while I write this post are for a cryptocurrency casino. Everyone is shooting the moon. The1BTC project is about the slow, consistent, low friction building of a crypto position. I started 1BTC to get a Bitcoin slowly, and not sacrificing my analog purchasing power to do it.
Small consistent effort is all you really need. That is what I want to demonstrate with this project. You don't have to be rich, you don't have to be smart, you just have to know where to look and know how to keep chugging along. I want to you to join me on my path. I am in this. I am learning. I will fail and I will succeed, but I won't go bankrupt because I got greedy or piled on too much risk.
The volatility involved in crypto currency market is daunting. I have heard horror stories of people being convinced that crypto is the golden ticket then levering up and buying during a euphoric period only to be left with nothing during the down turn. I want to write the road map for the opposite of that story. I want to show the nervous how how they can build and save without risking their family's future. Sometimes without risking anything! I am trying to spend as little money as possible. All upside, no downside.
Slow and steady is how you mitigate volatility and if the BTC spot goes against me prior to my next swap of XYO to BTC, it doesn't matter to me. That's because I paid $0 out of pocket for my XYO tokens.
And yes, I waste time testing silly little crypto plays. Its possible that the pi network never amounts to anything and I've been using a useless app for years. But I've found several apps that do work -like COIN - and I want to share them with everyone. I also want to help people avoid the ones that don't work, the ones that may work in the future (pi and Sweat) and the ones that don't work anymore (Current).
This whole thought experiment reminded me of this boomer math meme that makes the rounds on Linkedin every few months.
Small consistent effort makes all the difference in the world so keep building. Just like in my favorite movie Money Ball, look at the problem differently, stays consistent, and do the little things right.
Anything is better than nothing. So why not start today?
As always you can join the conversation on Twitter @1BTCproject
And keep track of my crypto journal on my other blog - http://635ed752b3bfb.site123.me/
