Bitcoin’s down 30%. Naturally, everyone who told me it’s a bubble now thinks they’re a genius. Never mind it’s still up 400% since I bought. Never mind it’s still up 1200% for the year. Never mind I readjust monthly. Never mind I bought RaiBlocks at .60c and it’s now sitting at $4, after this huge “crash.”
And especially never mind that, unless Coinbase collapses, bitcoin’s going to hit new all-time highs soon, along with every other crypto out there. Never mind that people are going to be reading this post six years from now and think to themselves, “Damn, I really wish I had bought at $13k. I’d be fucking rich.”
Or maybe they won’t. Regardless, I’m happy enough to be contributing to a new world economy that gives disadvantaged people all over the world unfettered access to capital. I’m happy to take a stand against the oppressive, inept governments in Zimbabwe, Venezuela, Greece, and the countless others that — if history’s to be believed — will try to control huge swathes of people by unfairly regulating their currencies.
I stand with the bright minds in those countries who can focus on making the world a better place. I stand against the corrupt politicians who have forced them into starvation, dehydration, and death.
I couldn’t give a shit about the price.
I already made a good profit. And I like to think that I’m helping make the world a better place.
Regardless, this bull isn’t done. It’s just taking a breather. It’ll be back up next week. Hell, maybe it’ll be back up tomorrow.
Still, every time there’s a significant dip, it gets me thinking: Everybody’s right about everything, always. People who don’t have stake in the game are quick to jump on you (and, in turn, unknowingly jump on the poor citizens of corrupt countries who have no other option but to use cryptocurrency) for “investing foolishly,” and you’re quick to remind them that you didn’t, in fact, “invest foolishly.” If you’ve been following this blog for any amount of time, you should’ve already made at least 300%+ gains and readjusted as soon as you doubled.
It shouldn’t be possible for you to lose at this point. If it is, you’re doing it wrong.
And, if you recently entered the crypto game, welcome. This is your home now. Get used to these fluctuations in price. Get used to it for years. Become comfortable with the possibility that you might get hacked. More than that, get used to these two schools of thought:
The enthusiasts say, “Bitcoin’s on sale.” They say, “Buy the fucking dip.” They say, “It’s going to hit a million soon.” And what’s wrong with that? Well, the problem is that they’re certain they’re right, and, as I said before, everybody’s always right about everything. Given time, the enthusiasts will probably be right. In 20 years, $1 million will have the same buying power as $500k today. One day, McDonald’s will have a million-dollar menu. A 3% rate of inflation is bat-shit insane. If the last 9 years are any indication, Bitcoin isn’t going away. As long as it has a reputation as the world’s biggest global currency, it will be a big deal. As long as the blockchain’s being mined, it will have value.
The detractors say, “It’s crashed.” They say, “Bitcoin’s dead.” They say, “The bubble is popping.” And what’s wrong with that? Well, they’re right, and everybody’s always right about everything. On a long enough timeline, the survival rate for everything drops to zero. Bitcoin won’t last forever just like the USA won’t last forever just like human beings won’t last forever and on and on and on.
We all need to heed the advice of someone much, much wiser than us. I’m talking, of course, about that guy that Matthew McConaughey played in The Wolf of Wall Street.
It’s all random. The whole god-damn market. No one knows what’s going on ever, and anyone who pretends like they’re a well-educated technical analyst should be reminded that, in percentage terms, I’m destroying them.
And, right now at least, I make money by washing dishes. Less money than I make in crypto, but how long will that last?
Who the fuck knows?
I’m at a point in my life, though, where — if there are huge fluctuations in the market, if I lose all the money I’ve made — the only thing that’s going to change are the numbers in my bank account. I love my family. I have great friends. I’m confident that I’m happier than 90% of people out there.
On the surface, it probably doesn’t look like I’ve got everything figured out. And I don’t.
But I’m okay, and how many people can say that? How many people don’t mind going to work? How many people have accomplished the goals that they had as a kid? And how many people can say that they have a vision for the future that will be reality?
Not many, I’d wager. Most people are caught up in inane, artificial bullshit while life passes them by. Like how making 10% more money would definitely make them happy. Or how being one to two inches taller would change their whole life. Or how, if their face was just a little bit more symmetrical, everything would be great.
Everyone wants just a little bit more.
I urge you to look around during the holidays, when you’re spending time with your friends and family, and exclaim to yourself, “You know, I don’t have things too bad.” Even if you have to drink a few beers to eventually forget about your problems — it’s not like you’d be the first.
If you can’t at least do that, it doesn’t matter how much money you have in your bank account; you’ll never be rich.