Written by Sylvain Saurel - In Bitcoin We Trust
Bitcoin is an incredible monetary revolution that has already accomplished phenomenal things in only twelve years of existence. Even so, you should not lose sight of the fact that such a monetary revolution always takes time. There have already been ups and downs, and there will be more of course.
The adoption of Bitcoin by the general public will not be a linear path, but a tortuous one in which you will have to be strong to resist the temptation to sell your Bitcoin.
That temptation can be either when the Bitcoin price goes up or down. Indeed, when the price of Bitcoin rises sharply, you will always hear the voices of people telling you that it is time to take profits. You can already prepare yourself to answer them the following: take profits in US dollars? I would be unaware of trading the hardest money in the world for weak money.
The freedom Bitcoin gives you is priceless
When the price of Bitcoin crashes, and it will crash again, because that's what a free market does, you'll have to control your emotions so you don't give in to the panic.
This panic helps to sort out those who fundamentally believe in the Bitcoin revolution and those who see Bitcoin only as a get-rich-quick scheme. It's up to you to be on the right side by understanding that Bitcoin is all about power.
Bitcoin gives you the freedom to live your life on your own terms. And that is priceless.
While FUD (Fear, Uncertainty, and Doubt) is sure to increase in the coming years, you'll need to learn to filter out all that ambient noise to focus on the real signal: the Bitcoin revolution.
Want an example of this? Since the beginning of May 2021, everyone has been focused on Elon Musk dropping support for Bitcoin payments with Tesla, as well as China banning Bitcoin from its territory. This is pushing all mining companies to relocate their equipment elsewhere in the world.
While everyone is focused on the price of Bitcoin, the Bitcoin revolution is making incredible progress
Meanwhile, one country, El Salvador, is officially adopting Bitcoin as an official currency. This is an incredible step forward, and it is the first country in a long line. Other countries in Central and South America will follow suit in the coming months and years.
Paraguay is already on its way to seize the Bitcoin opportunity as El Salvador has just done.
This will also follow in Africa and Asia. Many emerging countries will seize the opportunity to change their future for the better with Bitcoin. This is in line with the will of their people, but also in line with history. The IMF and the World Bank will oppose it, but that's simply because they fear becoming obsolete.
In reality, Bitcoin is the real world bank. Period.
China's ban is something extremely Bullish for the future of Bitcoin
While some people waste their time scrutinizing the price of Bitcoin daily, they come to miss all the progress being made in Bitcoin mining by many in America who want to take on the challenge of maximizing the use of electricity from renewable energy to run the Bitcoin system.
The banning of Bitcoin in China will promote green mining. We are witnessing the great exodus of Bitcoin mining from China to the West. This is all extremely bullish for Bitcoin.
To take advantage of it, however, you will need to be patient. This is the key because the Bitcoin revolution is a marathon, not a sprint. Many people seem to forget that. It's time to open your eyes if that's the case.
To keep this in mind, you need to focus on what I call the four “Keep”:
1. Keep Learning
Knowledge is your best weapon in the Bitcoin world. By constantly expanding your knowledge, you will discover the ugly truth about the current system that is flawed and not fixable.
You will then understand that Bitcoin is our best hope for a better future world for the many.
Bitcoin gives the power of money back to the people, and that is essential for millions of people already. That number will continue to grow in the future. The demand for Bitcoin will explode. With a hard-capped supply of 21 million units no matter what, you already know what this will mean for the price of Bitcoin.
2. Keep Buying
Understanding Bitcoin is one thing, but putting it into practice by buying Bitcoin is the next logical step. The sooner you start buying Bitcoin, the better for your future. Buying Bitcoin once is not enough.
You need to buy Bitcoin in DCA mode to take full advantage of this revolution with peace of mind. This will prevent you from falling into the trap of those who always hesitate, hoping to buy Bitcoin at a lower price.
3. Keep Stacking
In the future world, talking in Satoshi rather than Bitcoin will become the norm. So every Satoshi you can accumulate will have a significant impact on your future life. The #StackSats movement born in the heart of summer 2019 is here to remind you of this.
To accumulate more Satoshis, you can stop spending your money unnecessarily on things that the consumer society pushes you to buy. Your future will thank you for this wise choice.
4. Keep HODLing
Finally, last but not the least, you need to become a Bitcoin HODLer no matter what. Put your Bitcoin in cold storage so that you have the private keys to your Bitcoin in your possession.
This is the only way to really have power over your money and your future life. It sounds simple in Bull Market times, but in future Bear Markets, you will need to show character to resist the fear.
Your confidence in the Bitcoin revolution will be your best ally. It is constantly reinforced by your knowledge. That's why you need to return to the first point, which is to Keep Learning. Once you have come full circle, you will be able to enter a virtuous circle that will change your future life for the better.
Final Thoughts
With Bitcoin, the goal is to regain power over your money. It will take time, but rest assured, the success of Bitcoin is inevitable. It's just a matter of time. Once you understand this, you'll stop panicking at the slightest crash in the price of Bitcoin.
Instead, you'll see this as a unique opportunity to accumulate more BTC. This will put you in a position to win the accumulation game that is Bitcoin for years to come. Patience and confidence in this unprecedented monetary revolution in human history will be your best allies in the years to come.
The four "Keep" of the Bitcoin world I've just detailed will also help you take full advantage of this incredible revolution.
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The moment we let our emotions get in the way of our logic, we are the losers.
I think the most important thing in this business is to control our emotions and make sharp decisions. I also think that when other countries accept Bitcoin legally, China will step back and lift the Bitcoin ban. Although I am worried, I am aware that Bitcoin will appreciate in the future. I think it's time to buy and save, but everyone should buy according to their budget, I think we should not build our future on one thing.
even if this is bitcoin
Thanks for the article.
Bitcoin is an innovation, world has been driven by revolutions through using the benefit of innovations. At some point it will hold strong and become a world-wide currency. Even I think there will be other revolutionary things in future that the generation Y and Z will have suffer understanding. However, world has to change and we have to adopt it, otherwise the steam will pass over us :)