Do I feel late to Bitcoin?

No.

Why not?

1) I’ll start with a framing exercise. If Bitcoin reached highs of ~$2.70 in 2017, was down to 40 cents in March 2020, and was trading at ~$6 today, would the price make you feel late? (varied answers to be expected which is fine)

2) If I got into Bitcoin earlier I would’ve been known in the industry as ‘soft-hands’. My all time favourite NBA player would say ‘soft like charmin’. I would’ve lacked the understanding/conviction required to hold on tight to my BTC over time and would’ve ‘cashed out’ somewhere along the way. What a disaster.

3) I wouldn’t have put meaningful skin in the game. My level of investment would have reflected my level of understanding. Therefore it wouldn’t have been high and reward would have been proportional. I now get to be ‘irresponsibly long’, never sell, and reap meaningful upside if correct.

4) So don’t I just wish I gained more knowledge/conviction sooner then?
Well sure. But would it have been possible? I think to ‘get’ Bitcoin you either ‘have to’ (grew up in the third world) or you fall down the Bitcoin rabbit-hole.

To genuinely fall down the rabbit-hole I think this will take a serendipitous mix of good content resonating, personal situation, external events, external influences etc.. Sure it’s *possible* this could have all aligned for me years ago, but odds would be out of favour.

5) I would’ve been a safety risk. Private keys, public keys, seed phrases, hot/cold storage, mild/chilled storage, desktop/mobile/hardware wallets, self/outsourced custody etc etc. It can be a bit to get your head around. I *probably* wouldn’t have lost any bitcoin, but I wouldn’t have understood my differing risks. (+ still more to learn!)

6) Why would I feel late when it’s still so early. Bitcoin has only been here for 12 years, only ~0.5% of the world use it, we’re only at ~10% of the market cap of gold…

7) Am I just rationalising myself into these trains of thought to make myself feel Ok?
Maybe.
But I don’t think so.

I’ll still think the same if the price drops ~50% tomorrow and I won’t be going anywhere. As the famous line in the movie Wolf of Wall Street goes “I’m not f*cking leaving!”

* None of this post is financial advice, please do own research

Please also check out -

15 Points of Interest that sent me down the Bitcoin Rabbit Hole
If Bitcoin was a Parent?
4 reasons explaining Bitcoin to my Filipino Mum went suprisingly smooth Some Light Bitcoin Objection Handling
and; How the mystery surrounding ‘Who is Satoshi?’ helps protect us from cognitive biases and logical fallacies

** Orange Pill Talent is a specialist Headhunting and Recruitment services firm partnering exclusively with companies involved in the business of Bitcoin. We cover contingent workforce and permanent white-collar hires, Australia wide and globally. If you’re looking to source and secure talent for your team please reach out via email: hello@orangepilltalent.io, Signal PM: +61439191999, or Telegram: @orangepilltalent **

Originally published at https://www.linkedin.com.

--

--

--

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

UPGRADABLE SMART CONTRACTS: STORAGE HIGHLIGHTS AND CHALLENGES (PART 1)

It’s easy to fake an NFT Twitter profile picture. Here is how to do it.

Twitter Blue, the Twitter subscription service, profile picture

How to perfectly value an NFT?

The Recap of INT Chain 2nd Anniversary — First YouTube AMA

Mineful: The Sharing Economy and Mining Cryptocurrency

Both are related to lending, so why are ZOS and RRBit so different?

DRIP NETWORK is the Investment Vehicle of the FUTURE

A Letter to the Community — About oBike’s cease of operation in Singapore & Odyssey(OCN) future…

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
PJC

PJC

More from Medium

What is crypto winter and why does it matter?

¿What is Uniswap?

How do you invest in nft?

Is real estate in the METAVERSE a good investment for 2022?