Sometimes it is difficult to remember what my life was like before I got red-pilled into bitcoin and other cryptocurrencies. How did I avoid world finance issues, and my own financial situation so easily. I often split my life into two timelines; before I discovered bitcoin and after I discovered bitcoin. For me; discovering bitcoin has changed my life profoundly for the better. Before I was heavily into credit card debt, wasn't satisfied or even concerned about my salary, wasn't thinking about my future or the possibility of retiring, wasn't saving properly or just thinking about the future.
Needless to say, after getting into bitcoin all of those things have changed for me. I have become obsessed with saving and putting that money saved into investments. I have also become a minimalist by realizing that many of the things that I owned I actually didn't need. I then sold off many of those possessions and used the money to put into bitcoin and ethereum. I also took budgeting much more seriously and was able to find extra money in my income that I didn't think was possible before. But not only that, it motivated me in my regular life as well. While the dream has always been to retire as young as possible; but to be honest with how I was living before, it was never going to happen. But, now with the investing habits I have been recently practicing, along with the great price actions of bitcoin and ethereum that dream may not be so crazy after all.
As you can see there have been many positive changes in my life that I directly attribute to me becoming interested in bitcoin. On the internet I have heard many similar stories from people all over the world.
But something that has always fascinated me is just how people became interested in bitcoin and other cryptocurrencies.
I have seen a common theme where many people have heard about bitcoin, usually from a friend, family member, the news or even a co-worker. But when this happened they were not receptive to bitcoin, or did not have an open-mind about it, myself included. They then missed their initial chance to buy bitcoin at a much more lower price. For me personally, the first time I was introduced to bitcoin the price of BTC was around $200 per coin. Of course I didn't buy at that price and have many regrets about it to this day.
My second introduction to bitcoin happened as I saw tweets, news stories all over the internet about the price of BTC increasing rapidly and they were making fortunes from it. At that time I was much more interested in bitcoin and was willing to invest, but at the same I had little spare cash and with the little spare cash I did have I thought it wouldn't be possible to make any substantial gains from it. I thought I had missed my chance and that bitcoin had become too expensive, but I was wrong.
My third interaction with bitcoin was what finally was enough to have me join in and start investing in the asset. If you don't know my story; I'm from the USA, but at this time I had moved overseas. After learning just how bad the system is for sending money overseas, that was the first step in me opening my mind to other options. Then also I met the girl who I would eventually marry. After meeting her I realized that I needed to change my financial future and really take a hold of my finances. I began to become very interested in investing and growing my assets. I became addicted to researching possible assets to invest in that the highest earning potential. And after all those hours of research, I concluded that bitcoin was the best option. And ever since that moment I have dived deep into world of bitcoin and haven't looked back since.
My point is that before I invested I had thought I had missed my chance and bitcoin was too expensive. That first interaction point the price of BTC was $200, and when I finally did invest it was more than that, and at that time I thought it was too expensive too. But obviously with the recent bull run, it was in fact quite cheap when I did get into the market. To anyone that was able to get into bitcoin when the price was under $10,000; you were very early. Today the price of bitcoin is in the $40,000 range and that too feels very expensive. But I strongly feel that very soon $40,000 will feel like a cheap entry price as well.
The key is continue to dollar cost average. As the price has soared up I have continued strongly investing and will not stop. There is always a chance that there will be a large price pullback. But at the same time the market has changed with all the institutional investing. There is a chance we may not have those type of pullbacks again.
I would love to hear how you first heard about bitcoin, and also why you finally decided to invest into it as well!!
As always, thank you for reading!