Three Confessions of a “Bitcoin Hedonist”.

In a bear market and with bitcoin unable to break above $20,000 per unit, maximalists for the cryptocurrency continue to highlight why they believe it is the future of money.

in 2022 September 6 12:44 p.m

It starts with money and the desire to have more. Satoshi Nakamoto wanted it that way. Nothing concentrates the mind like simple greed.

I. Limits of perception

to me bitcoins It started as a distraction for lunchtime reading. It was in 2013. Pockets of the mainstream media have been reporting on a “digital currency” that has somehow created billions of dollars in value out of thin air. Google and Reddit satisfied my curiosity. He understood little of what I told him. Soon the price of one of them bitcoin fell from an absurd $259 to an absurd $100. If he was going to bet on the absurd, at least he was getting a good price. I’m buying.

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Later that year, I connected to WiFi on an Emirates Airline Airbus A380 somewhere in the skies over Iran or Iraq. The novelty of aerial internet was not enough for me. How much nicer would it be to implement this new technology while using another? Bitcoin it was approaching $300, a new all-time high, three times what he paid for it. The bet was successful. and sold.

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When I landed in London, my ego felt fragile.. Small mistakes will not break you. Miscalculations can change lives.

Weekly Summary - Bitcoin price and most popular cryptocurrencies in the last 7 days

Over the next few weeks, the hits came with great regularity: $400, $500, $600 – quicksand for the organ. $700, $800, $900 – really not? – $1,000. After clarifications, congratulations turned into condolences. If only I had… is the dumbest phrase in the language. You didn’t do it. continue

Of course, the pain subsided when Bitcoin retreated from its peak, but the regret and sense of missed opportunity remained. Only in 2014 I was ready to bet again and it was another gamble because I learned nothing except a grim recognition that timing the markets is difficult.

I believe that bitcoins could become the new global currency. I also believed it was probably an illusion. Hedging bets is a reasonable strategy if you don’t want to take the time to make a more informed and decisive decision. A year has passed. A family tragedy caused the 2017 bull market to pass in a blur: irrelevant, no commitment, no remorse. The spread of covid. Bitcoin has stalled again. It is time to pay due attention to this matter.

Maybe I should be ashamed that it took me eight years to understand Bitcoin. But not me. Life got in the way. The journey only begins when you become more aware of your starting point, which is easier for some than others. If you have not given your youth to study and work, only to see your education depreciated and exploited, I will not be swayed by a sick sense of injustice.

If he didn’t save five times more than his parents For a down payment on a house at age 30, only five times the price of the real estate market, you won’t be haunted by the recession of your economy and the wreckage of your aspirations.


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