Thread by @Cocopoppyhead

I’ve been buying #bitcoin for +5 years. I got many things right and many things wrong..

So here are 5 of the most important lessons I have learned along the way. 👇

Lesson 1: Cheap ≠ Value

Don’t get distracted by the per unit price of AltCoins.

#Altcoins are cheap due to their excessive supply. #Bitcoin seems expensive due to the limited supply.

Supply & demand is important. You want limited supply & increasing demand.

#BuyBitcoin

Lesson 2: I am not a trader

Drawing triangles on a chart is cool, but let’s leave the technical trading to the professionals, like @PeterLBrandt & @aspentrading10

Treat Bitcoin as a long term savings a/c. What you already have will be worth an incredible amount in years to come

Lesson 3: All models are wrong, but some are useful

Past market performance is not predictive of future market behaviour.

This cycle I has taught many of us a lesson, that no matter how bullish we are on #bitcoin, we cannot assume when or where the top will be. Patience is key

Lesson 4: Multisig = Peace of mind.

“Not your keys, Not your coins” is a familiar phrase to Bitcoiners and it’s so important.

I’d go a step further and advise everyone with a substantial stack to set up multisig to add another layer of security. Check out @CasaHODL

Lesson 5: Cashflow is important

All your future plans will remain dreams until you can actually afford them. Until then, you need to keep grounded, keep working hard & keep some cash on the side for rainy days.

#Stacksats & #Buydips