It's Far Better To Do Nothing With Bitcoin

By Coins Reporter | Coinsreporter | 25 Feb 2024

There are two great sayings both of which advise to take a pill of 'Nothingness'. One that goes like 'Something is better than nothing' while the other is 'Doing nothing is a virtue in itself'. However both of these have found application for Bitcoin, albeit the first one may cause you sleep apnea, and the second one has considerable peace of mind. It's only your way of handling Bitcoin which will give you what you wanted. In my case, I would seriously prefer 'Doing Nothing with my Bitcoin'.

What I exactly mean by 'doing nothing' is that you never custody your Bitcoin to someone else in any case. For instance, there are many places that may lure you with a 0.0001% to 100 or in some cases for a 1000% of yearly returns. The higher the returns are, the more the dangers of scams are! Scams are one thing and we all know we can DYOR for that. But I'm not a fan of good projects which promise you moderate returns for letting them use your Bitcoin in their way.

Let me clarify? What do you think? Did SBF started FTX only to robe all of us? Was Celsius a scam? What I assume that both these companies proved disaster only because they didn't plan for bad times. I am not saying that the executives weren't the culprit behind. But if we weren't greedy for little returns, we could have saved our Bitcoins.

Another point for doing nothing with Bitcoin lies in the fact that Bitcoin is such an incredible form of money that appreciates even when idle. It's much similar an asset to real estate. The wealthiest of the people around the world know what's sound money is. Their ancestors somehow knew it and started buying properties and HODLed them. Much similiar to them, we are now witnessing a digital era where HODLing Bitcoin will create an opportunity for generational wealth, that too without doing anything.

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Coins Reporter

Once a Bitcoiner and forever will be. Love to share my views even if they are unbelievable.

Coinsreporter

Let's talk about how cryptocurrency is revolutionising the financial sector. How it's changing your life and my life. The general idea of this blog is to write content that is relevant, up-to-date, useful and interesting.