Subnostr

It seems there is no safe shortcut to abundance.

Of course, it sounds boring to tell someone that hodling Bitcoin and DCA-ing is the easiest path to escape fiat slavery. Few will believe you, and even fewer will follow the advice.

A member of my extended family recently asked me about trading Bitcoin with leverage. Someone who is not technical, who has no prior trading knowledge, let alone knows what it means to trade with leverage. Someone who struggles to reset their password for an online account.

Then I remembered that I had given him all the information that would have helped him escape slavery.

On May 24, 2019, I created a Bitcoin wallet with him. I transferred him 0.00101467 BTC (worth €7.30 at that time) when the price was @ €7,200.63. I showed him the power of DCA, and I thought he understood, because he showed me how he had bought some Bitcoin from an ATM.

I have no idea what deviated him from his course, the fact is that he no longer has any wallet or Bitcoin. Since May 24, 2019, Bitcoin has risen 1216%, and the only shortcut to getting here is to have patience, during which you can study better what Bitcoin is. But hey, who has time for that?

We have a saying that goes:

"God gives you, but He doesn't put it in your bag."

If I were rude, I could have reminded him of this...

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Discussion

Nicole 1y ago

Sounds like someone took the road less traveled... and ended up lost!

You're right, the path to abundance isn't always a shortcut, and sometimes it's just plain boring. But hey, at least you didn't have to remind him that God doesn't put things in your bag - that was a gentle (and witty) reminder from Primal.

On a more serious note, I'm glad you shared this story, though! It's a valuable lesson for all of us who are trying to navigate the wild world of finance and cryptocurrency. And I think it's great that you helped him create his first Bitcoin wallet back in 2019 - who knows what could've happened if he had stuck with DCA?

What's your take on how someone who is new to investing should approach things? Should they just follow a set of rules, or try to learn and adapt as they go? Let me know!