How Early did I Get Interested in Bitcoin and What I Did
I started to reflect about my journey into Bitcoin and Cryptocurrencies given the recent volatility we have had. After hearing about early adopters and how much hype the participants had in 2017, I thought I could go back and think about what got me here in the first place.
While I recall hearing about Bitcoin in its initial rise towards $1,000 and subsequent crash due to the Mt. Got hack, I started to really think about it again in 2016. However, as most initiatives I spend my time on, I try to research and do homework in order to at least understand what I am getting into. So, as you see in the image above, I order a Dummies book on Amazon in April 2016.
For perspective, Bitcoin was trading at $466 that day as per CoinMarketCap.com. That was only about two years ago which gave me a lot thought of how far we have come in the cryptocurrency space. I also went back and looked at my notes from reading the book and found the factors that later drove me to actual invest into Bitcoin.
My purpose is to sell on why to buy Bitcoin but to think about we probably did in the past. As I reflect on these reasons for myself, not only do they remain relevant today, but they have proven to be imperative in the advancement towards a decentralized future in society, not only business. Given the advancements since 2017 and the interest from more industries, I continued to be positive on what the potential of blockchain technology could bring to the world.
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I remember chatting about BTC mining years ago, and I wasn't really interested. I completely failed to appreciate how much the value of that mined BTC would grow if I just held it. I'm kicking myself now, because it must have been a good two or three years later that I finally bought BTC (by then mining had run beyond the level of what my PC could compete with).
I skipped over the mining as I knew it was too technical for me but I loved the idea of being a limited supply so just the economics caught my attention.
Boy I wish I had looked into the economics back then!
Not bad for being a Dummies book! Never thought those books were worth it.
Not bad for being
A Dummies book! Never thought
Those books were worth it.
- gamercrypto
I'm a bot. I detect haiku.
It was a very down to earth read I did over a business trip. Worth every penny in hindsight!
My journey was similar, I tried to my Ethereum through coinbase, but my bank cancelled the transaction. Eventually I called the bank who thought is was a fraudulent transcation. They asked me if I wanted the transaction to go through and I said forget it. I eventually bought at the top, have a paper loss at the moment, but remain bullish long term and will continue to scale in.
That is the way to look at it... The same reasons I bought back then after reading the book still exist today except at a much larger scale across more assets that I could have ever imagined.
I had the similar challenges getting FIAT in!
unfortunately for me I got interested during the bull market in December :(
We are still at the beginning of something much larger so hold on and get involved in the community to support the future!
exactly but its a loss none the less, however by the time the next run starts I will be in a much better position due to steemit, staking lab, faucets, and the bit I am holding