13.8.2017 — Thoughts About Bitcoin’s $4000+ Price Hike

BigDogecoin3

Back in 2014, the same year I begun my first open university course on entrepreneurship, I dabbled in investment stocks. I was a self-hating bisexual faggot noob that never run his own business.

It was the year when Russia attacked Ukraine, and took the Krim peninsula. The war in Ukraine prompted the imposition of economic sanctions from the European Union, and United States. The sanctions hit Russia hard, alongside the plummeting of the global oil price. The price of oil went deep down, at the perfect moment when Russia’s GDP was heavily reliant on oil exports. Yes, it was an orchestrated effort between the Obama administration, and Saudi-Arabia, 21st century economic warfare. The Saudis flooded the market with oil, destroying the oil price, decimating the Russian economy.

While searching for investment opportunities, I found a Russian index fund, that was rapidly tanking value. I invested some of my savings into it, around €1600. I followed the graph for days and nights, I was obsessed, and mordibly afraid of losing my money. The graph kept going down, and down, and down. I ended up panicking, I pulled my money at a day when the war started escalating. I lost money on a slew of similar bad investments, and it took my stock portfolio the past 4 years to recover those losses.

My experiences with the stock market taught me many lessons. The most important lesson, was the discovery of a personal flaw. Under certain conditions, my emotions took a hold over me. I acted on instinct, jumping to a conclusion in my risk analysis. Fear made me sell too early, greed made me buy too early. I concluded that this trait, I need to correct, before I can become an able investor. Three years later, I still have this flaw, and I keep losing because of it. Self-awareness only gives you limited control over your emotions.

Bitcoin, the cryptocurrency has shattered all expectations for 2017. We started below $1000. Today we stand at $4000, and nobody knows whether it’s a bubble about to burst, or whether the fucking thing is gonna keep going all the way to $10000.

If you act on greed, you’ll shove it all in, and hope your savings will double. And when you see the price plummeting, you’ll panic sell, or hold too long, it will be completely random what you do. You will likely act so stupidly, you’ll lose more than you’re prepared to lose.

The lesson: When you have money, you have opportunities. You can invest your money into your own business, you can buy commodities like gold, silver, or copper. Even sexy anime figures are fine investments, as they are always limited run collector’s items, whose price stands only to increase with time. Just keep your figures in good condition, and keep the box.

If your jaw is dropping at Bitcoin’s current run, you should buy some as test. You could also look into Bitcoin’s competitors Ethereum, Ripple, Litecoin, or even Dogecoin. Do a little research before committing!

Risk comes from lack of knowledge. The more hidden factors there are affecting the price of something, the more blindly you are operating. The possibility of mistakes increases. When you do research, you increase your chances of making more educated choices. But you will never inherit the gift of foresight – the world can turn upside down anytime. Risk only what you are prepared to lose, so you won’t act emotionally with your money.

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