Sirwin
Sirwin
This image is a section of the cover of my first book

Its never too late to explore new worlds


At 75 years young you may think Bitcoin and all that has been built around it has definitely passed me by. I remember reading about Satoshi Nakamoto and the development of Bitcoin and the Block Chain in 2010 I thought at the time if this takes off it will create a whole new financial world.

I was 64 at the time and had just lost everything in the 2009 financial crisis and as all of my debt was bank related, I decided bankruptcy was my best option. This ended my career in finance. It wasn’t until the middle of 2012 that I came across Bitcoin again and the price was about US$10. I had just got a contract to run and expand a large self-storage establishment in a town called Mackay in Queensland Australia and as I had accumulated a few dollars and thought I would put US$1000. Into it. I started looking into how to go about it and could not find a way to put my money into it that did not seem to some sort of a scam. Maybe Australia had not caught up the States in that respect.

I had another crack at trying to buy bitcoin in 2017 when I came across a remote teller type machine in a shopping complex in the Gold Coast there was some complicated instructions on how to set up a digital wallet and being largely computer illiterate and not really flush with cash, I again decided to give it a miss.

It is now 2021 and like most of us I am very concerned about how Australia has followed the Fed in the US and is printing money like its going out of style. Our real estate and most commodity prices are up there with the highest in the world and whether we like it or not continuing these policies could have devastating consequences. With the top 1% worth more than the bottom 70% you can be sure who is gaining the most while these inflationary policies and uncertainty continue.

The whitling away of our freedoms and rights over the past decade and particularly during Covid have reached a point where the political class and wealthy seem to have no concern about the consequences of how their decisions affect us. What really got me across the line was the fact that the Government and our banks are starting to talk about phasing out physical money and converting to a digital economy. This was the raising of the red flag as far as I was concerned, and the first thing that came to mind to protect me from the total control it would give them was Bitcoin and Crypto. If someone is going to control my money digitally, I want it to be me.

This time I had a friend who was investing in crypto and could help me get started so I could see no impediment. That was until I saw the price of Bitcoin US$60,000, I opened an account anyway and decided to put some funds into is and watch it for a while and be ready if the priced dropped. I also started research everything I could find on crypto to see if there was an opportunity for me as an investor in the genre. The more I read the more excited I become, I take my hat off to the computer generations, the way they have embraced and enhanced this technology is mind boggling. I can see with a more knowledge and a bit of luck I can definitely calve out a place in this space.

When the price started dropping in late May I got excited and thought that’s a sign so I got into Bitcoin and Ethereum on the 27th and have since purchased Cardano, ChainLink and Polygon. I have put some money aside to speculate on some of the lower cap coins when I gain more knowledge. Whether they go up or down only time will tell but from the understanding I have gained so far, I am pretty confident the rise will come it is only a matter of when.

If I had of found a way that didn’t seem so dodgy and spent my $1000 in 2012, I would now own 100 bitcoins of my own at this point in today’s terms about US$3. 5 million, I am wondering if making that sort of money is possible again, now that I am actually in the game.

Whatever the outcome I am going to enjoy the ride, any tips or advice will be gratefully received.

How do you rate this article?

3


Turn Over a New Leaf
Turn Over a New Leaf

I am 75 live in Australia have a Finance Background and have just started studying and investing in Crypto, Very Exciting.


Turn Over a New Leaf
Turn Over a New Leaf

I'M FINALLY IN. Bitcoin and Crypto has been calling me since I first heard about it in 2010 It has taken me 11 years but I’m finally in. I was 64 back then and loved the idea of a completely unregulated currency not manipulated by those that seek to control every move we make. With a background in finance, I could see the possibilities and wondered how far the innervation would go. It’s been a month of continual reading and watching and I have to say I am blown away by the innovation.

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