I started buying a little Bitcoin at the end of 2020, and by little I mean a few hundred. Since then I’ve gradually researched and bought into other cryptocurrencies, again a few hundred or even less. I am intrigued by the potential for a revolutionary, decentralised, democratised money system. I am hearing so many beautiful stories of the poorest in the world using this opportunity to change their lives.
I am excited by the idea that is still early days in adoption and potential gains are large. And as I don’t have much I don’t have much to lose 🙂
Ive got a lot from doing this, outside of financial gain. It has given me a new online community, at a time when a sense of community is sparse on the ground right now. And what a delightful supportive helpful generous the crypto community is.
It has given me a new hope for the future and I am making way more money than would otherwise be sitting getting eaten away by inflation in the bank. In 3 months the gains have been around 30%. I should add that I didn’t have very much money saved at all, but what I have is now 80% in Bitcoin and cryptocurrencies.
It’s another hobby, a project, something to occupy my time learning about. I’ve also learned more about how the whole economic system works too. It is a very steep learning curve for me, one I’m still on. I’m taking in vast amounts of information and only very slowly starting to understand. It’s enjoyable being part of the early stages of a revolution, if it is what I think it is.
It’s also a great inner learning opportunity. Feelings in me and in the community rise and fall as the cryptocurrency market does. Others longer in the game coach newcomers on keeping steady and not giving into becoming overwhelmed with too much pessimism or optimism. It’s an amazing zen training actually. To learn to stay steady and keep balance amid the rises and falls going on around us, it’s a great opportunity and lesson. Right now I’m down in the dumps as the price has gone down, so stoicism training continues…
It’s also part of self care. Thinking about my future and making moves to gain more financial security. I have always lived ‘on the edge’ with next to no savings. Yes it is a risky speculative volatile asset class, but as more and more institutions and large companies (you can now buy a Tesla car with bitcoin), I have a sense it will stabilise.
My advice for anyone interested is to find the experienced ones on Twitter and Telegram, and start learning there. Btw none of this is financial advice of course, high high speculative risk, like betting on a horse!
i always hear about this but i am way to fragile emotionally to invest in it..at the same time i admire those who can and who understand it. One thing too that i hear regarding it is the complications during tax time. How have you faired in that realm?
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I think if you put a lot in it’s a rollercoaster but not so much if it’s small money like me. I do still find my mood going up and down as it rises and falls but mildly. With tax, I understand it’s only taxable when you sell and take profits. I haven’t got enough to be concerned about though. Different rules around the world too, in some countries it isn’t even taxable.
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