If you are new to bitcoin, or perhaps have been here a while, I hope my experience can help you.

If you are new to bitcoin, or perhaps have been here a while, I hope my experience can help you.

Let me first state that I believe in bitcoin-my actions buying it show that. However, belief is not enough.

I got heavily into starting to understand the monetary system in 2020 which led to gold which led to bitcoin. I have seen many with the best intentions fail. I have not made the best decisions, but I have also avoided some bad ones. Here is what I suggest:

1. Do not borrow money to buy bitcoin. You need to find a way to generate cash flow each month/week you can invest. For some, this is a 2nd job. For others, this is reducing expenses. There are people that spend $4,000 a month on drugs/alcohol and that can go to investing.

2. Have a goal of a long term savings account. If you want to trade, that's your choice, but I think people need something that they will never sell. For many I think this goal is 2-5 btc.

3. Understand your limitations. I, for one, am an awful short term term trader. You will hear stories of great traders, people with 5 computer screens, etc...most of them hide their losses. It's easy to show the wins when someone is choosing what to share. I know a lot of of people who sold over 50% of their bitcoin during the last few months. They are now in a place where they have to either get back in, trade, or I hope not but true, trade a lot on options and/or borrowed money.

4. Do not tell people how much bitcoin you have. It will only harm your relationships. If you are paying attention, you are seeing a divided society more and more so. If you have a lot of bitcoin, and it goes up, you will be viewed by many as part of the problem. 

5. DCAing is not just said for no reason. It allows a much healthier way to accumulate an asset. DCAing is not 2 weeks-4 years-minimum.

6. I was a heavy real estate investor. I still own real estate...however, besides a small condo to live in, I would NOT buy real estate as an investment unless I had at least 10 btc AND the property was high end. The simple reality is that the amount of people that will look to buy bitcoin over the coming years is multiple times higher than real estate.

7. Survive. Probably the most important. Want to sell some at $100k? Makes sense. But the worst thing you can do is try to time this and lose your money. I know zero people who bought homes before 08, sold them in 08, and rebought in 2011.

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