Quitting my job to buy, not invest, into BTC was the best decision I ever made. Ironically, the covid lockdown actually helped since I didn't have to buy food for lunch or pay for transportations costs. FYI, if you want to achieve the same, it's an EXTREMELY stressful path. Very few have the endurance to deal with that level of stress, imo. Best of luck!!! 👍
A word of advice: mistakes and circumstances of all kinds are not bad. They're nothing more than learning experiences.
Do you trade for a living now?
No. Why do you ask?
You said you quit your job to buy Bitcoin? Just don't understand what you mean and curious.
Let me elaborate. The stock market crashed at the beginning of the Covid lockdown. I invested heavily into the market at that point. I worked from home during that timeframe, so I was able to save ALOT of money during the lockdown. The stocks began to jump during the last few months of that year. Then I used about 90% of my profits from that particular time period to buy Bitcoin. The majority of which make up most of my current holdings.
Ah and then you quit your job. Just had trouble parsing that.
Glad you got to exit the workforce that's great. I'm hoping I'll be there in the next run up.
You're going to have to deal with ALOT of bumps in the road! Do you plan on pursuing a similar path? If you do, I could can grant some insight and advice. If not, then I really don't want to waste my breath. Sorry. 😅
I am maybe towards the end of that path but I'd never turn down advice.
I've been through a couple bears, tried my hand at day trading. Was successful but ultimately couldn't stomach the risk. Now I just DCA and double up on dips. Anything around 3-5x the ATH in the next halving cycle and I'm retiring.
At this point in time, it would not be a crazy idea to short the housing or gold markets for some big fiat profits. Personally, I don't like the idea of shorting markets. When you do so you're literally making profit off of others' misfortunes. But, the Fed made it legal to do so. So, take opportunity where you find them. Life is not a fairytale. A sad but realistic truth. Keep in mind that the timeframe till the next halving is very small. It would be best to be VERY aggressive when DCAing.
If ya have any questions just ask! 👍
Now you're getting it. 👍
Just want to say, in reference to personal reasons, that there are pros and cons to quitting your job to buy Bitcoin. A relatively big con is that you'll have no more fiat income. But that is strictly determined by how much you previously saved. A BIG pro is that you'll have ALOT more time to explore all your other interests and passions.
Now I see. I will continue to stay humble, stack sats, and seize opportunity when it arises. 🤙
I'm here to help
I'm not sure I understand what you mean by "buy, not invest, into BTC". Could you explain further?
Sure. When you invest, you usually have the long-term intention of selling whatever asset you invest in for profit. With Bitcoin you're not investing because you don't have the intention of selling for fiat profit. Your buying, if not converting, your fiat into sats. Therefore it is not an investment, but a conversion of currencies. Like selling all your U.S. dollars in exchange for Euros.
