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Don't Buy Bitcoin

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Written by   295
3 months ago
Topics: Fud, Bitcoin, Investment, HODL, Fear, ...

Why would anyone in the world say “Don't Buy Bitcoin” in a time when the mega coin seems to be on a complete tare? It doesn't make sense, right? Well let me tell you about my friend Sara. Sara is very interested in securing her financial future and thinks that having cryptocurrency in her portfolio is a good idea. And I agree! However, Sara has also created in her mind a great deal of FUD, Fear Uncertainty and Doubt about investing in cryptocurrency mainly Bitcoin. As Sara continues to do her research about Bitcoin the volatility in the coin, as well as the entire cryptocurrency market has only added to her discomfort. Watching Bitcoin go to just over $65,000 and back down to a low of $29,000 in Sara's mind is too risky. Like many other people Sara is stuck in a short-term thinking psychology and is not focused on the long game. Because Sara "lives in the moment" her future is in the here and now, when she should be focused on the real future. The one where she lives a long life and isn't poor in her golden years.

Yes, it's true Bitcoin is extremely volatile, even as it seems to be on a bull run while it's new higher low is trying to get a foothold. Sara however is frozen in place as she watches the crypto markets drastically fluctuate in real time. Sara believes that she cannot step into the crypto investment pool, without fully understanding the hots and colds of its movements. When Bitcoin is high Sara has FUD around the coin dropping in price right after she makes her investment. On the other hand, she has also created FUD when the coin increases due to the idea that the price becomes out of reach for her investment capital budget. Sara has fostered a belief that when Bitcoin raises even by a few dollars that she has missed on the opportunity to maximize her investment potential. This leaves Sara waiting around for a Bitcoin price point that is never going to meet her investment expectations.

The FUD psychology that Sara holds will assure that Bitcoin is out of reach at any price point, unless the coin drops well below her investment budget. Let me explain this a bit more clearly. Let's say that Sara's crypto investment capital is $46,000 and the price of one Bitcoin is $48,000 at the time she wants to make her move. Now the key word here is “One” Bitcoin, meaning Sara is only focused on buying one whole Bitcoin. When the Bitcoin price drops below Sara's $46,000 investment price point her psychology tells her to wait until the price drops deeper, to maximize investment, by buying “One” coin for less. In Sara's mind this is sensible investing, however in reality the FUD grows stronger. Sara begins to watch the Bitcoin market value go up and down like a yo yo, and she gets no closer to a investment decision. While we could say that Sara is just being greedy, waiting for Bitcoin to go far enough down so she feels there is little to no risk of her investment capital, this is not the case. Sara's biggest fear is that she does not possess the knowledge to make the right investment decisions around cryptocurrency.

To ease Sara's FUD I suggested that she does not buy Bitcoin at all, and as she tilted her head to give me a look as if to say. What the hell are you talking about? I explained. There are one hundred million Satoshi in one Bitcoin. So, instead of investing in Bitcoin where you feel the FUD, focus on making your investment in Satoshi's. I went on by saying that because Satoshi is a much smaller measurement of value the FUD Monster cannot rear its ugly head. This means psychologically Sara will not be as focused on her $46,000 being to large or small for her initial foot in the door Bitcoin investment. By Sara changing her investment psychology, to include a much smaller valued Satoshi to get started in the crypto space, she depressurizes the Fear Uncertainty and Doubt about acquiring “one” whole bitcoin. Sara is effectively investing in Bitcoin without investing in Bitcoin, because her $46,000 investment reveals itself as 97,200,000 Satoshi or 0.97200000 of a Bitcoin. Smaller incremental movements of Sara's crypto portfolio and the fact that she'll now be focused on how many Satoshi she holds instead of "One" coin relieves a enormous pressure.

Problem solved. Sara now thinks about her crypto investment portfolio with the idea that she's investing in Satoshi's not Bitcoin and the FUD is reduced. So if you are experiencing crypto investment FUD like my friend Sara was “Don't Buy Bitcoin”, buy Satoshi.


By: Michaelson Williams

August 15th 2021

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Written by   295
3 months ago
Topics: Fud, Bitcoin, Investment, HODL, Fear, ...
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Comments

This is very good advice!

$ 0.00
3 months ago

Sounds interesting, yeah it's better that way than owning only one asset. Diversification with $46,000 capital is good buying satoshis and she can have a lot than buying only one Bitcoin.

$ 0.00
3 months ago

@Eybyoung investing in Satoshi is only a change in mindset as Bitcoin and Satoshi are the same, except for the store of value. When Sara invest in Satoshis she is still buying Bitcoin, but in fractions or tiny pieces of the "one" whole Bitcoin pie. I guess I didn't make that as clear as I could have. Thanks for the comment and have a great day!

$ 0.00
3 months ago

Oh, I see I did not understand it correctly haha. Yeah she can buy it in fraction and the percentage of her profit varies as well.

$ 0.00
3 months ago

I really do not consider Satoshi as something serious and would not consider Bitcoin as a serious deal because bitcoin has reached menopause. 🤣

$ 0.00
3 months ago

Pearlkel you should think about putting in a few more hours in the crypto learning space. You may change your mind. Listen to Michaels Saylor, because he makes a lot of sense when he talks about Bitcoin as an asset class investment. Thanks for the comment!

$ 0.00
3 months ago

The idea of visualising investing in Satoshis instead of a "whole" Bitcoin is quite an interesting perspective to reassuring would be investors . It could actually allay the tendency to fall prey to FUD that is as they do their on due diligence in terms of understanding what they are investing in as well as the potentials of the crypto space

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User's avatar M3i
3 months ago

@M3i You really understood the full concept of the article, and are correct in your assessment of it. Thank you very much for your comment!

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3 months ago