Sirwin
Sirwin

Diamond Paws. Who's Got That?


Now that Bitcoin has surged past $60,000 and seems poised to hit a new all-time high sooner than many anticipated, thanks to the staggering demand driven by ETFs, can you imagine snagging Bitcoin for just $1? Even if we had been able to invest $1,000 in Bitcoin 12-13 years ago, it would likely be enough today to sustain us for a lifetime.

The individual pictured above is highly esteemed within the crypto community. Residing in Dubai, he leads a luxurious lifestyle and is recognized as an OG (Original Gangster) of the crypto industry. We also have our Bitcoin OG within the @leofinance community, @onealfa, although it seems he hasn't been active lately. Hopefully, he's doing well.

While acquiring Bitcoin at $1 may seem like a stroke of luck, it raises the question: how many of us would have resisted selling the majority of it or swapping it for other cryptocurrencies over the years?

The reality is, many of us might not have held onto such a stash until today. HODLing isn't as straightforward as it seems. In fact, it's quite challenging, particularly if you intend to rely on crypto for your livelihood. In such cases, the volatility of the market can lead to stress as your emotions and wealth fluctuate alongside it.

This is why many early adopters of crypto don't succeed. I first discovered Bitcoin in the summer of 2017 and planned to purchase a whole coin (valued at $3,000 at the time) in September 2017. Unfortunately, due to some bank transfer issues, I couldn't execute the transaction.

Instead, a month later, I bought Litecoin, sold it for a $50 profit, panicked, reinvested near the peak, and then found myself holding NXT (arguably, the 'rug' in the crypto space), missing out on one of the most spectacular bull markets ever.

But did I learn from this experience? Nope. Throughout the 2018-2020 bear market, I mostly stayed in cash. At one point, I invested around $1,000 in DOGE, traded it for ETH, then for XTZ, sold the XTZ for LINK, ultimately squandering most of that $1,000 worth of crypto, along with profits on LUNA in mid-2022.

I'm quite the genius, aren't I?

Fortunately, I stumbled upon Hive, which helped me pay bills and put food on the table, along with the airdrops I received during the previous bull market. Otherwise, I would have likely left the crypto space long ago.

At one point, I almost owned a whole Bitcoin. Almost. Nowadays, becoming a 'whole coiner' is nearly impossible, and in a few months, you might have to sell your house to afford one Bitcoin. The demand is astronomical, the halving will create a supply shock, and the price will skyrocket.

This is why Bitcoin is no longer just for retail investors. Bitcoin has graduated to the big leagues. It's no longer playing with us; we're now relegated to playing with shitcoins. And let's be honest, us degenerates love shitcoins because they're affordable. You can buy plenty of them for $1,000, and most of them have the potential to do a 100X this bull market.

That's why altcoins are poised to perform exceptionally well for the remainder of the year and probably into the beginning of next year. They're what retail investors can afford to speculate on. While there's a chance that some spot ETF investors may sell their shares and jump into altcoins too, it's likely to be a small percentage. Most of the funds gaining exposure to Bitcoin through ETFs won't be doing that.

I never had the opportunity to buy Bitcoin for $1 a coin, and frankly, I'm not sure if I would have had the conviction and foresight to do so, even if I had watched this Davinci video. What about you?

Thanks for your attention,
Adrian

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acesontop
acesontop

I'm an amateur blogger, crypto holder, and a passionate fisherman for as long as I can remember. For more details please ask, it's free. You can find me on steemit.com: https://steemit.com/@acesontop and Hive: https://hive.blog/@acesontop/feed


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