The Next Crypto chapter: I didn’t mean to invest, then it went up 500%…!

Two months ago today I bought this new thing called Cryptocurrency for the very first time. Yup, I bought Bitcoin, but then I bought a second and then a third! However, I did not buy them as an investment, simply to find out what it was all about…the problem is I made a 500% gain. Nice problem to have!

This is the Next Chapter I promised in the Election Day blog:
How could it possibly be a problem that I made a gain of 500%…? I’ll come to that, but first the question every one is asking me: “how do I even buy Bitcoin?”
Quick answer: not that easily!
Long answer: after all of this! The step-by-step below is probably the minimum knowledge required for anyone before investing a single penny in any cryptocurrency…that seems sensible doesn’t it, what do you think?

My step-by-step journey…before I bought…and “my what I think insights” for everyone yet to begin their investment in Cryptocurrency

I asked a lot of questions: people I know really well and trust, people I don’t, those that I knew were being very vocal about some form of cryptocurrency activity and those that I assumed would never touch it. And I was right about the latter ones, some of which will never touch it! If you think that is probably you too, please keep with me till we get to the end.
I immersed myself in research: delved deep into the net across all my existing channels of financial information and found many, many more. My immersion was four weeks of thinking of little else…and watching little else given the number of You Tube videos I piled through. It is fair to say that I was fascinated…for a rule breaker I now believe it is simply imperative to understand this new market and part of me thinks I have been an idiot not to be here before now. But everything plays out for a reason, right?
Then there was that trip to London: I bought coffee and a toastie with Bitcoin, I bought Bitcoin with cash in a Bitcoin ATM and I got into some amazing conversations as I recorded every step…or tried to! I simply had to understand it and make something that felt so virtual into tangible. The coffee was hot. The toastie was cheesey. Yes it was tangible. Yes it worked. It actually did expand my mind in one huge way.
Then there were the Investment Gurus: yes I met a new world of investment gurus. Where? I bought a ticket to the New Tech Symposium, during my immersion month, and I even spent my UK sterling on that! This level of credibility and the detail of the information was another giant step forward in my thinking. This event, more than any other, made talk of digital currencies seem like my normality. But then I went back to the outside world. It is anything but normality out there in normal normality.
As I said, I made films covering all of this…watch out for the following chapters to see those.
Out the other end of that thirst for knowledge, I had clarity about what I believed were “my what I think insights”: 
  • I grasped that Bitcoin is not Cryptocurrency. Cryptocurrency is the market for all digital “coins” of which there are well over 700 different versions that have an extraordinary array of names, reasons for existing and, rather importantly, values.
  • Bitcoin may be simply one of those 700 different currencies, but it is by far the most important right now, because we owe all that has followed its original launch in 2009 to Bitcoin. For that we should be thankful, not least because it brought blockchain into view.
  • That blockchain is a whole other blog post coming up soon, but just as you have become familiar with the terms: search engines, email, blogs, webinars, social media and many other internet revolutions, you will start to hear this word over and over…blockchain, blockchain, blockchain. It is going to change the corporate world from the foundations up. Keep watching for that blog
  • That a Cryptocurrency can be designed for an extraordinary array of reasons, serving many different needs and that actually there are likely to be thousands
  • That Cryptocurrency will change the Global Monetary System forever, it already is, but it will then lead to even more creative money systems
  • That a lot of people are very excited by this…people? Oh the type of people that have been at the forefront of the world’s entire redesign over the last two decades…those with vast influence
  • That at some point I would have to say “enough with the research” and make a choice: “am I in or am I sitting on the side line”
  • Finally, but not exhaustively, that there are three ways to be involved

Three ways to be involved…what does that even mean? I just want to buy Bitcoin! How you enter this market – the Cryptocurrency space – is not just about which currency you buy first, or even how you buy it. I mean one of the three options doesn’t even involve buying any.  Yes, I have more blogs to write than I thought.

What about the 500% gain problem?

Think about this. You do your research with this kind of diligent mindset to a, let’s be honest, level pushing beyond sanity. You then choose your moment to buy. Quickly you buy two more currencies and you watch closely. You are still classing this as research. Before your eyes it unfolds. It is relentless. It is not even day after day, it feels like hour after hour, literally for weeks. Two of them go up…and up…and keep going up. A minor blip here and one there. But the march is inexorable. Then one of them hits 500% gain. The press is going nuts about it. OK not YOUR press, my press! Remember, normality has changed  for me!

What are you thinking?  Well I was not thinking “how clever am I”, believe it or not. I was thinking: “OK I need a correction, at least one significant fall, because nothing can always go up and, more importantly, I DIDN’T TELL ANYONE!”

Yes I made 500% gain and I was truly worried that I had not told anyone – not even my partner – to buy. That to me is what should be thought of as a big problem. I hadn’t told you either!

Problem solved: the few days leading up to the two month anniversary BOTH huge gains have been decimated. Phew! Yes the correction has come. It is still going on. Even more Phew! The market is taking a battering…well some of it. My biggest Phew! Nothing can go up for ever, right…that is very NOT subtle hint to those holding their huge share portfolios right now.

But I thought you were going to tell us how to buy…? I am…actually I have…not until you have done all this research, so simply keep reading. And please, please think about this…if you were buying Bitcoin right now, would you want to know if it had found its floor first?  I guessed so…how will you know? Keep reading!

The Next Chapter will be with you very soon.