2/ #btc is digital gold in the modern age of humans having a dual identity-our physical selves in the "real world" & our digital selves on the internet
We're moving into this landscape & digital money is becoming increasingly important
15/ Step 2). Work your job or business or whatever you do for a living
You haven't achieved financial freedom yet, fren. Keep working. Keep bringing in revenue. You're using that cash flow to deploy it into your financial freedom strategy
When #Bitcoin achieves some material average price - say, your portfolio is 2x - begin DCA'ing out, if it makes sense with your goals. Maybe you wait for 3x or 10x. That's something only you can know
I've seen many posts about people buying assets using DCA. This is the 1st time I see mention of DCA being used 2withdraw. That's an important detail since some people want to take it all out 4 that Lamborghini. Let the asset keep working.
8/ Do you think you have more knowledge, resources and access to information than Warren #Buffett? If he won't time the market on stocks, why should you time the market on #Bitcoin?
4/ At the heart of why people ask these questions is their ultimate desire: human greed. They want to make money. They want to invest in something today and sell it tomorrow for more than they bought it for
5/ In my opinion, #BTC is the single-best way to achieve this over long time-periods. We're still early in the adoption of this technology. Bitcoin will change the world and you can own a piece of digital gold for a new era
7/ That's cool and all, but they did it wrong. Dollar Cost Averaging is the only way to reliably invest in #crypto over long timeframes. For normies, I would say that it is a death sentence to do anything but dollar cost average into crypto
10/ That being said, what makes you qualified to know enough to "pick the winner"?
Unless you have intimate knowledge and hundreds of hours of research into any given #Altcoin, then I would say that you should stay the hell away from them
11/ I obviously hold altcoins. #LEO, $RUNE, #HIVE, #CUB, #POLYCUB. There are certain use cases out there and certain projects that I am intimately familiar with, I am comfortable with the risks. Normies don't do this kind of research
For someone starting right now with altcoins, that's too many. For someone who has acquired relevant knowledge (& the earnings to go with it), that number of altcoins is good.
We will never know all there is to know, so we pick our spots.
12/ The path to financial freedom is not easy but in my opinion, there is a market opportunity that has existed only for 10 years and exists right now in this moment as well. I'll give you the exact steps that I took and still follow today
This is the hard part that is seemingly impossible for the average person to follow. You're going to let your #BTCs stack. Let digital gold do its work and grow over long timeframes. The longer you can wait, the better
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If you enjoyed this #threadstorm, please share the link to the first Thread on the internet
You can also read my long-form blog post on #hive & #leofinance
https://leofinance.io/@khaleelkazi/owning-bitcoin-is-the-path-to-financial-freedom
This is to prove - I've read em all. To the very END. :)
2/ #btc is digital gold in the modern age of humans having a dual identity-our physical selves in the "real world" & our digital selves on the internet
We're moving into this landscape & digital money is becoming increasingly important
20/ TLDR;
14/ Setup the automatic buys. The buys should be equal amounts on a consistent timeframe
$100 worth of #BTC every Friday
$10 worth of #BTC every day
You get the idea
15/ Step 2). Work your job or business or whatever you do for a living
You haven't achieved financial freedom yet, fren. Keep working. Keep bringing in revenue. You're using that cash flow to deploy it into your financial freedom strategy
18/ #DCA in. #DCA out.
When #Bitcoin achieves some material average price - say, your portfolio is 2x - begin DCA'ing out, if it makes sense with your goals. Maybe you wait for 3x or 10x. That's something only you can know
I've seen many posts about people buying assets using DCA. This is the 1st time I see mention of DCA being used 2withdraw. That's an important detail since some people want to take it all out 4 that Lamborghini. Let the asset keep working.
YES! Let the assets keep working... super important to understand this
8/ Do you think you have more knowledge, resources and access to information than Warren #Buffett? If he won't time the market on stocks, why should you time the market on #Bitcoin?
3/ What Normies Think About #Bitcoin
It always comes down to this:
Should I buy Bitcoin? Should I buy XYZ token? Will I make money?
That's always the underlying questions that people want answers to.
My answer:
I have no f*cking clue.
4/ At the heart of why people ask these questions is their ultimate desire: human greed. They want to make money. They want to invest in something today and sell it tomorrow for more than they bought it for
...
5/ In my opinion, #BTC is the single-best way to achieve this over long time-periods. We're still early in the adoption of this technology. Bitcoin will change the world and you can own a piece of digital gold for a new era
6/ I will frequently give a talk about why I think BTC is going to rise in value over the long-term but things in the short-term are unpredictable
Then I will get hit with examples of how "their friend" bought at $50k and lost money
7/ That's cool and all, but they did it wrong. Dollar Cost Averaging is the only way to reliably invest in #crypto over long timeframes. For normies, I would say that it is a death sentence to do anything but dollar cost average into crypto
9/ What About Altcoins?
These normies will then ask me "what about XYZ altcoin? Can't it go up more than #Bitcoin?"
Yes, #Altcoins have smaller market caps. It's entirely possible that your altcoins can outperform BTC
10/ That being said, what makes you qualified to know enough to "pick the winner"?
Unless you have intimate knowledge and hundreds of hours of research into any given #Altcoin, then I would say that you should stay the hell away from them
11/ I obviously hold altcoins. #LEO, $RUNE, #HIVE, #CUB, #POLYCUB. There are certain use cases out there and certain projects that I am intimately familiar with, I am comfortable with the risks. Normies don't do this kind of research
I got them too: ETH, ETC, LTC, SYS, FIRO, BLOCKNET, Hive, LEO, CUB, POLYCUB, ADA, SKY, XMR
Sometimes I get concerned: to many ALT's ?
For someone starting right now with altcoins, that's too many. For someone who has acquired relevant knowledge (& the earnings to go with it), that number of altcoins is good.
We will never know all there is to know, so we pick our spots.
12/ The path to financial freedom is not easy but in my opinion, there is a market opportunity that has existed only for 10 years and exists right now in this moment as well. I'll give you the exact steps that I took and still follow today
13/ Step 1). Setup an automatic dollar-cost average strategy to buy Bitcoin
You can do this via Coinbase, Cash App, or a plethora of other apps. Find an app that suits you best and set it up
16/ Step 3). Forget that the #BTC is There
No you're not going to time the market. You're not going to sell it at $23k so you can buy it back at $16k.
You're going to let it grow from your daily/weekly buys. You're going to wait for years
This part is so freekin truthful !
17/ Step 4). Wait
This is the hard part that is seemingly impossible for the average person to follow. You're going to let your #BTCs stack. Let digital gold do its work and grow over long timeframes. The longer you can wait, the better
Only DIAMOND paws can do this part perfectly
19/ Personally, when #BTC enters a bull cycle - I know it. My bag is mooning & I immediately start DCA'ing out on a daily basis
I sell a small % of my crypto each and every day and take profits off the table and into stablecoin investments
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Love seeing these pop up on Twitter.
Keep them coming!
so simple, yet so hard for people to do