The Financial Crisis of 2008
The rise of #Bitcoin
the Fallacy of Overchoice in #Crypto
And how to carve your own path in this ‘noisy’ & nascent market 💎
//A THREAD
The rise of #Bitcoin
the Fallacy of Overchoice in #Crypto
And how to carve your own path in this ‘noisy’ & nascent market 💎
//A THREAD
Story time:
The year was 2008.
A global financial crisis had shaken the world with shock effects not seen since the Great Depression.
Bailouts upon bailouts saved us from world-wide catastrophe.
*Or* should I say saved the ones responsible for its occurrence
🙂
The year was 2008.
A global financial crisis had shaken the world with shock effects not seen since the Great Depression.
Bailouts upon bailouts saved us from world-wide catastrophe.
*Or* should I say saved the ones responsible for its occurrence
🙂
Effects of the 2008 crisis in US:
Opportunity cost of 640 Billion - approximately $5,800 per household
Home values: $3.4 Trillion in real estate wealth
Stock values: $7.4 Trillion in stock wealth - $66,000 on average per household.
And Millions of foreclosures…
Opportunity cost of 640 Billion - approximately $5,800 per household
Home values: $3.4 Trillion in real estate wealth
Stock values: $7.4 Trillion in stock wealth - $66,000 on average per household.
And Millions of foreclosures…
It was around this same time when #Bitcoin emerged as the Phoenix rising from the ashes -
A peer to peer electronic cash system that takes the power from the banks and puts it back in the hands of the people!
Dare I say too perfect of timing? 🧐
A peer to peer electronic cash system that takes the power from the banks and puts it back in the hands of the people!
Dare I say too perfect of timing? 🧐
On October 31st, 2008 @ 2:10 pm, the Satoshi white paper emerged at metzdowd.com
Little did we know the impact it would have on our future.
Little did we know the impact it would have on our future.
In the early days of $BTC you could say #btc was little more than a
Silicon Valley/fringe-hipster/Silk Road drug purchasing/libertarian-loving means of exchange.
And Greg Schoan. Bet this one hurts bro.
RIP your opportunity cost. 😔
Silicon Valley/fringe-hipster/Silk Road drug purchasing/libertarian-loving means of exchange.
And Greg Schoan. Bet this one hurts bro.
RIP your opportunity cost. 😔
Slowly, this all started all to change as the years went by
Bitcoin slowly became more widely-known , as transactional use started to exponentially increase
big names started to take notice, and new coins like $LTC & $XMR started to emerge in the space as the 2010’s started.
Bitcoin slowly became more widely-known , as transactional use started to exponentially increase
big names started to take notice, and new coins like $LTC & $XMR started to emerge in the space as the 2010’s started.
Present day:
As #Bitcoin is no longer the only choice
We now have 11,000 #cryptos to choose from in this nascent market!
11 THOUSAND.
Where do you start?
This has led to a fallacy of overchoice.
As #Bitcoin is no longer the only choice
We now have 11,000 #cryptos to choose from in this nascent market!
11 THOUSAND.
Where do you start?
This has led to a fallacy of overchoice.
“What do I invest in?”
“Do I stick with just #BTC?”
“Or do I invest into higher ROI projects?”
“I don’t even know how it’s tech works!”
“There’s so many different consensus models!?”
“That one is pumping but the ones I hold aren’t!”
“There’s too many options!”
“Fy%!?wtf!!”
“Do I stick with just #BTC?”
“Or do I invest into higher ROI projects?”
“I don’t even know how it’s tech works!”
“There’s so many different consensus models!?”
“That one is pumping but the ones I hold aren’t!”
“There’s too many options!”
“Fy%!?wtf!!”
With no ETF’s currently available to the regular investor
Building a solid crypto portfolio is a tall task.
Building a thematic basket of stocks is already hard enough.
In a nascent space like crypto, that ambition becomes multiplied in nature.
Building a solid crypto portfolio is a tall task.
Building a thematic basket of stocks is already hard enough.
In a nascent space like crypto, that ambition becomes multiplied in nature.
In my early days of investing in crypto
I didn’t know what the **** I was doing.
Everyone was telling me something different, and I didn’t know who to listen to.
It started with YouTube.
YouTube influencers ended up siloing me in $XRP & $BTC as they were: “The only way”
I didn’t know what the **** I was doing.
Everyone was telling me something different, and I didn’t know who to listen to.
It started with YouTube.
YouTube influencers ended up siloing me in $XRP & $BTC as they were: “The only way”
Reddit told me #BTC was dead and that $ETH was the future
Twitter shilled me all kinds of alts
4Chan told me we were all f*cked cause of the NWO anyway
So I literally had no idea how to make sound investing decisions.
I was only listening to talk.
And was completely lost.
Twitter shilled me all kinds of alts
4Chan told me we were all f*cked cause of the NWO anyway
So I literally had no idea how to make sound investing decisions.
I was only listening to talk.
And was completely lost.
For multiple months I chased green candles
and got *wrecked*
Every
Single
Time.
not *ever* doing my own research
And continued to pay the price for my actions.
What was the catalyst for change?
I decided to stop taking the easy path.
and got *wrecked*
Every
Single
Time.
not *ever* doing my own research
And continued to pay the price for my actions.
What was the catalyst for change?
I decided to stop taking the easy path.
I went straight to the white papers.
Read everything I could 5 times over
Searched the linked In’s of founders
Watched videos on understanding cryptography & blockchain & consensus models
And turned off ALL the noise from social media.
I took matters into my OWN hands.
Read everything I could 5 times over
Searched the linked In’s of founders
Watched videos on understanding cryptography & blockchain & consensus models
And turned off ALL the noise from social media.
I took matters into my OWN hands.
Everything started to make sense.
I was finally understanding what I was investing in, and not at the mercy of my peers.
I understood why I got into this space to begin with.
I was finally understanding what I was investing in, and not at the mercy of my peers.
I understood why I got into this space to begin with.
To be a participant in the greatest wealth transfer of human history
To become a better investor
And become a better version of me.
To become a better investor
And become a better version of me.
Overchoice is an easy fallacy to be inundated by in crypto
Especially in a space where influencers tell you to ‘trust’ them
In a space supposed to be built on:
- Personal choice
- Trust-less in nature
- Self-reliance
-Being your own bank
Especially in a space where influencers tell you to ‘trust’ them
In a space supposed to be built on:
- Personal choice
- Trust-less in nature
- Self-reliance
-Being your own bank
My suggestion to you:
Cut out the noise
Do your own research
And ALWAYS have faith in yourself on this journey.
Study up, anon.
And if you do, you WILL be rewarded.
Cut out the noise
Do your own research
And ALWAYS have faith in yourself on this journey.
Study up, anon.
And if you do, you WILL be rewarded.
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