Bitcoin is a major paradigm shift. In my eyes, it is a once-in-a-lifetime opportunity that everyone should study properlyso as not to have eternal regrets in the future.
To study Bitcoin properly is to go beyond the preconceived notions and fallacious arguments put forward by the powerful people at the head of the current system to prevent you from discovering the ugly truth.
If after making this intellectual effort you decide not to buy Bitcoin, no problem. Everyone has the right, and even the duty, to make the best decisions for their money future. At the end of the day, it's the fruits of your labor that will be at stake.
It is therefore up to you and you alone to make the right decisions for your personal interests.
In my case, the best possible decision was to embrace the Bitcoin revolution. After several years in this world, I realize that Bitcoin is actually not for people who suffer from any of the 4 problems I will outline below.
This is not to say that these people will not be able to evolve in the future of course. However, as long as they suffer from at least one of these problems, they would be better off staying away from Bitcoin for their own good.
You want to get rich quick
In today's world, I meet more and more people who want to become rich. It even seems to be a life goal in itself. Better yet, these people want to get rich fast. They want it all right away.
Patience is the key to all great and lasting success in life. Without patience, you won't get anywhere in life.
With Bitcoin, patience is the key. You must accept that Bitcoin is an incredible monetary revolutionthat will take time. To be patient with Bitcoin, you need to reach a sufficient level of trust. To do this, there is no secret: you must constantly seek to deepen your knowledge of Bitcoin and the economy.
If you are not ready to enter this virtuous circle, you should probably stay away from Bitcoin. You would end up losing money sooner or later by selling your Bitcoin at a loss. This is because you would not be able to accept the fact that the short-term price of Bitcoin is made up of ups and downs, but also of phases of stagnation.
Some people call these periods boring and are not able to appreciate this boredom. This is a necessity if you are to truly benefit from the Bitcoin revolution.
You don’t understand why Bitcoin is so valuable
I still get messages from some of Bitcoin's opponents who tell me that Bitcoin has no value. In their eyes, Bitcoin is just a highly speculative financial instrument. These people do not understand why Bitcoin is so valuable. If you are one of these people, you should definitely avoid buying Bitcoin.
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Bitcoin is already a Plan A for tens of millions of people around the world. Many Westerners have a hard time getting out of their comfort zone to see what's going on elsewhere in the world. It can take time to understand this.
Until you realize this, don't buy Bitcoin. You won't be able to benefit from its revolution.
You have not the guts to handle huge price crashes
Bitcoin is a free market. It is the only truly free market in the world. Users have the freedom at any time to find an equilibrium price for Bitcoin.
There are no circuit-breakers like with the stock market, which is manipulated by the powerful in the current system. In addition, Bitcoin is tradable 24 hours a day, 7 days a week.
The fact that Bitcoin is a free market means that volatility is a feature, not a bug. The price of Bitcoin can therefore fall by 20-30% in a few days, just as it can rise by that much in a few days.
In both cases, investors need to be able to control their emotions to continue to make decisions with their sense of logical reasoning. Unfortunately, not everyone has what it takes to handle these large price swings.
If you don't, and you're not able to take the long view with Bitcoin, you're better off staying away from this new world for now. Once you really understand the reason for Bitcoin, you can look at things differently.
You like being a slave to the current monetary and financial system
The current monetary and financial system suffers from 7 deadly sins that will lead to its downfall sooner or later. This is a reality that too few people can understand. The current educational system does everything to keep the citizens of the world in a comfortable lie.
In the end, it is as if the people of the Western world like their status as slaves of the current monetary and financial system.
The word slave may seem like an exaggeration here, but it is a very real thing if you analyze things coldly. In this system, the fruits of your labor do not really belong to you. Governments and bankers can confiscate it at any time if they wish.
Your financial transactions can also be censored.
Finally, there is an even more dangerous enemy that few people can see: monetary inflation. This inflation keeps devaluing the value of the fruits of your labor. Thus, a $1,000 purchasing power in 1971 is not even a $150 purchasing power fifty years later.
Until you discover the ugly truth about the current system, buying Bitcoin will seem like something unnecessary. You will not be able to adopt the best possible strategy with Bitcoin: buy Bitcoin, then HODL no matter what.
Buying Bitcoin to take care of my money future seems like a no-brainer. However, everyone has to make up their own mind on the matter. For those who have not yet managed to really understand the reason for Bitcoin, it is quite possible that buying Bitcoin is a bad decision.
Indeed, these people are at great risk of losing money due to their lack of confidence in this incredible monetary revolution. If you suffer from the 4 problems I have just highlighted, the best thing for you to do is probably to go back and study the why of Bitcoin before you ever enter this revolution.
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