Bitcoin As An Alternative Form of Savings

I entered the crypto space four years ago and looked at it as a way to speculate and make some easy money. I initially invested in XRP and in a few months time, I saw my investment 13X! I was giddy and pictured myself quitting my stressful job if the crypto market could maintain its through the year. Before I knew it the bull market ended and my gains were gone. I had torn feelings. I thought that maybe I should have invested more so that I could have seen greater gains that would have lead me to banking some of my gains. My second attempt in crypto was also unsuccessful. I had the idea to get in heavy before the halving. I overinvested and panic sold in the March 2020 crash. Around July 2020 as markets were stabilizing, I decided to get granular, research, and come up with a strategy and a mindset to give me the best chances of succeeding over the long-term.

My First Lesson

What I realized first is that the fiat monetary system is a mess. There is nothing backing the value of Dollars, Euros, Yuans, Pesos except for the perceived value that people hold in it. And since there is an unlimited supply of fiat (central bankers can print at will), the purchasing power will probably keep going down. One graph that really resonated with me is below and it shows the spending power for the US dollar since the Federal Reserve started in 1913.