Nearly everyone who is investing in the cryptocurrency market has their own set of regrets that they have made over the years. Some of them are quite small and basic. While others can be more extreme. In many of these cases if the person would have taken action; perhaps their life would be drastically different. Perhaps it could be the difference between participating in the everyday rat race; living with more comfort or even living in luxury and having financial freedom to do anything you desire.
When I have free time my thoughts can go wild and I often ponder about what has gotten me to the point that I am today in my life, and what would have happened if I would have done thing different. You could say that I have regrets in regards to my life when it comes to cryptocurrency. If I would have just one thing differently, I would already be retired from my job, investing into many projects and perhaps living on a tropical island.
But what is that thing?
Well, I would wager that many of the people reading this article will look back and have the same regret as well; and it was that I didn't have an open mind.
The first thing that you must know is that my brother and I are very good friends, and always have been. We have always shared the same interests and hobbies and talk often. Years ago, I was just finishing my final days at university and my brother came to me about something new he found, and he was very excited to tell me about it. He thought it had the potential to be incredibly big, and perhaps change the world and make us rich. You have already guessed that he was talking about bitcoin.
He was telling me about this amazing new technology and everything it could do. Even that he had bought some and already seen some profits. He was also looking at getting into bitcoin mining and highly recommended that I should too. It would have been a great opportunity, because he was able to mine for free at our parent's house as well.
So what do you think my initial reaction to this was?
I immediately brushed off everything he was talking to me about. I thought that it was definitely a scam, would never be worth anything; frankly I thought it was a waste of money. My mind was in a different place at the time. I was focused on graduating university, finding a job, and even beginning to consider the idea of moving overseas. Naturally my mind was completely closed, I was not open to anything that would require money from me. At the time, I was more concerned about saving my money to go on an amazing trip to Japan.
During that summer we were working the same job and I would sometimes see him glancing at his phone; he was checking the current price of bitcoin. I didn't think anything of it, but as the summer went on I began to notice that he was checking the price more often. And it was true that the price had gone up even more.
So what did I do about this? Nothing. I continued to ignore bitcoin, and still couldn't understand it, and most importantly was that I didn't want to understand it. I will admit that at the time I had no idea about the properties of money, inflation, anything macro, and had not begun to think about investing yet either.
But the unfortunate thing is that my brother had perhaps given up on me getting into bitcoin. He had stopped trying to convince me to begin investing in it. I would see his noisy mining rigs and walk by without any curious thoughts; just thinking that they were too warm and loud. The way that my personality is; if he would have kept nagging me to invest in it, or learn more about it; I definitely would have. It takes me quite a while to do things. I am stubborn to say the least.
Then a few years had gone by. I did in fact move overseas, and was working a job, and still had not invested into bitcoin.
But something had changed in me, and my mind was finally ready.
I had been sending funds overseas back home several times and the fees were really a killer. Not only that, but it was incredibly slow to do so as well. I also decided that it was time for me to prepare for my future and begin investing! I was not getting any younger.
Of course I knew about stocks, and had dabbled in them slightly, but I also remembered bitcoin. I was curious how it was doing and checked in on what the price of bitcoin was, and was amazed at how high it had gone up. After all; a few years had gone by since I had first heard about it.
This is when my mind was finally open and I was ready to embrace bitcoin. I decided to devote an extreme amount of time to research it, and finally learn about it. I came to the conclusion that bitcoin was the best opportunity out there to invest it. Far more upside then stocks or anything else I could find. I also came to the conclusion that I still had not missed my chance to invest in what could be a life-changing type of asset; although I had missed an extremely nice entry point. When I first heard about bitcoin the price was at just about $100.
But even still, I do have regrets. I know that with my type of personality; if I would have begun investing in it I would already be extremely rich. Because I have almost an obsessive personality. When I am collecting something, I want all of it. If I am interested in something, I am consumed by it and think about it constantly. So naturally if I would have begun investing in it, I would have gone deep into it and the rest would be history. I did the same thing when I did begin buying bitcoin, but it just occurred a few years later than I would have preferred and took longer to accumulate to my goals.
But it is best not to dwell on things that could have possibly been, and instead use this as a learning experience to do even better in the future.
My main takeaway from this is to already be curious, open-minded and listen to others. You will be amazed at the things you will learn, or the opportunities that you will find.
If you're reading this; maybe you're thinking that you also missed out on a great entry bitcoin price. While this year the price have gone up quite a bit. I am certain that in a few years; $40,000 for a full bitcoin will look extremely cheap. Just like how $2,000 for a bitcoin sounds very cheap today as well. So keep staking sats and dollar-cost-averaging. And most of all, always remain curious!
I want to know what is your biggest bitcoin or cryptocurrency regret? What did you learn from it? And what are you doing to prevent it from happening again in the future!?
As always, thank you for reading!