“You were lucky to buy Bitcoin all those years ago.”
That's the phrase that all Bitcoiners must have heard at least a hundred times over the past few months. The bullish rally that started in October 2020 has indeed brought to the surface an old and persistent idea among the general public: Bitcoiners would have been lucky to buy Bitcoin in the past.
These people will be disappointed by what I will reveal in this article, but in reality, there is no such thing as luck in the Bitcoin world.
Bitcoin was already in the headlines in 2013
Bitcoin was created by Satoshi Nakamoto a little over twelve years ago now. If in the first years of Bitcoin's existence, you had to be a techie to hear about it, everything changed from the year 2013.
The year after Bitcoin's first halving saw its price reach $1,000 for the first time in history. All the media was talking about Bitcoin at the time. So the general public had the opportunity to hear about Bitcoin at least at that time.
Yet how many people actually made the effort to go and discover Bitcoin for themselves?
Very few. Of those who did make the effort to find out about Bitcoin at the time, how many remained Bitcoin HODLers no matter what throughout the years? Probably even fewer.
Bitcoin is a fair market. Everyone has the same opportunities
Bitcoin is the fairest market there is. No one has more information than anyone else. Anyone can become a node on the Bitcoin network, and anyone can verify that the rules of the Bitcoin protocol are being followed at any time. Therefore, there is no hacking possible with Bitcoin.
Everything starts with you. Luck has nothing to do with learning more about Bitcoin, money, and economics so that your ignorance of finance disappears. It's all about willpower. Whoever has the will to really discover Bitcoin makes his own luck. Nothing just magically falls into his wallet.
It is each individual who must make the sovereign choice to buy Bitcoin.
Once you buy Bitcoin, it's just the beginning of a long journey. You will have to resist all sorts of emotions and temptations. You will have to come out on top in the war of FOMO and FUD emotions. We had a good example of this in the middle of May 2021.
Taking advantage of the violent fall in the price of Bitcoin during May 2021 did not require luck, but belief
The price of Bitcoin crashed heavily in a few days.
At the origin of the crash, tweets from Elon Musk, FUD messages from China, or FUD rumors from the United States about Binance, one of the main cryptocurrency exchange platforms in the world. In short, nothing concrete, and only noise.
This ambient noise frequently distracts investors from the real signal that is the Bitcoin revolution.
Withstanding all the crashes in the price of Bitcoin to remain a HODLer of last resort who keeps accumulating more Bitcoin does not require luck. Rather, it requires confidence. Fundamental confidence in the Bitcoin revolution. You need to be certain of Bitcoin's phenomenal long-term potential to not panic sell or give in to greed.
Staying a Bitcoin HODLer no matter what is a matter of belief, not luck
Indeed, while many understand that selling at a loss is the worst thing in investing.
Others are seduced by the sirens of Altcoins that tell them to reinvest their Bitcoin profits in other projects to make more money. As I keep saying, greed is the number one enemy in the Bitcoin world.
To avoid it, you don't need luck, but simply the understanding that Bitcoin is about power, not money. Bitcoin gives its users power over the fruits of their labor. Bitcoin gives you the freedom to use your money at any time without any risk of censorship. This is clearly priceless.
In fact, you have no interest in exchanging your Bitcoin for U.S. dollars and falling back into the flaws of the current monetary and financial system.
Trust and patience are the keywords to take full advantage of Bitcoin
Understanding this requires knowledge and confidence. Confidence that Bitcoin will succeed in its revolution to become a mainstream payment method for everyday life in the future, but also that Bitcoin will eventually become a unit of account.
If you have that kind of confidence in Bitcoin, then you'll want to be patient.
A monetary revolution like Bitcoin that will change hundreds of millions of lives for the better in the future takes time. Some people take longer to understand what I just told you. These people are paying more for their BTC than those who have understood it since the early 2010s.
No injustice here, just the fact that Bitcoin rewards those who believe in its revolution. The sooner you believe in it, the greater your reward. This is the greatest justice in the world.
Final Thoughts
The next time someone tells you that you got lucky with Bitcoin, ask them what they were doing on May 19, 2021, when the price of Bitcoin plummeted from $43K to $30K in a few hours. On your side, you can tell him that you were taking your destiny into your own hands by accumulating more BTC to guarantee yourself a better money future.
This person will then understand that you are not a lucky person, but simply someone who has the two essential qualities to take full advantage of the Bitcoin revolution: confidence and patience.
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