Bitcoin has an effect that extends beyond your wallet since it alters your preferred time zone in various ways. Like many others, I got interested in bitcoin after coming into touch with it on several occasions. I initially learned about the Silk Road in 2013, when I found that you could buy narcotics on the dark web via the Silk Road marketplace. Although I investigated the possibility of obtaining bitcoin for this reason, all that was available to me was meeting a random individual at a coffee shop via the service Local Bitcoins to complete the dollars to bitcoin conversion. I passed since it seemed to be about as risky as purchasing drugs over the internet, and I forgot about bitcoin for a few years after that. Before we move on with our guide, register yourself on the free trading app and learn all the different ways to earn profit in the bitcoin currency.
Let’s fast forward to the conclusion of the summer in the year 2017: the bitcoin price was approximately $3,000 at the time of writing and was rising rapidly. I went out and purchased some ether. I made the same error as many others when I assumed ether would be the “next bitcoin.” I was utterly wrong. I, too, purchased bitcoin, but my holdings split about 50/50. Now, I solely possess bitcoin and no other cryptocurrencies, including Shitcoins.
Many of my friends were interested in cryptocurrencies because of the buzz, so I had many conversations about them. I stood there and watched as the price rocketed to infinity and then burst like a bubble. All of my other pals abandoned the ship while I remained. I should find out more about this item in which I had put a significant amount of my money to work.
One of the first things that bitcoin did for me was causing a significant change in my life priorities. I used to be a teacher, and I was given summers off without compensation. Ordinarily, I could save enough money throughout the academic year to pay my expenses over the summer and fly to see the band Phish perform live. I’d be poor and desperate for my back-to-school salary before the end of the summer. Once I learned about bitcoin, I began putting aside as much money as possible to dollar-cost average into bitcoin twice a week. I was no longer bothered by the prospect of missing concerts and was content to listen to the performances from my couch.
My first bitcoin investment coincided with the discovery that my girlfriend was expecting a child with another man. This exciting development, along with my newly discovered love, provided sufficient motivation for me to devote more time to save for my family and the future and less time to live music and travel. When it comes to putting money aside for the future, Bitcoin has motivated me to reduce my time preferences in other aspects of my life.
I wanted to be muscular, and I knew it would take a lot of effort to achieve that goal. The gym became a regular part of my life for the first time, and I began lifting weights and engaging in physical activity daily. Bitcoiners have a reputation for being ripped, and I wanted to feel better in my skin. After a year of working out, I’m starting to notice how my physical appearance has changed, which is fantastic. I’m more self-assured, physically more robust, and generally happy than I’ve ever been.
Once you’ve fallen down the Bitcoin rabbit hole, you’ll quickly discover that it never stops and that it may go in a variety of different ways. I’ve spent the past four years trying to understand all I can say about economics, finance, and investment, as well as the history of money and the technical breakthroughs behind Bitcoin. The majority of these subjects were utterly new to me. As a result, I’ve consumed articles on all sides of the bitcoin debate, listened to as many podcasts on the subject as I can fit in, and devoured many Bitcoin (and bitcoin-adjacent) books with many more waiting to read on my nightstand.
The discovery of how to hold my keys piqued my curiosity in learning all I could think about Bitcoin and other cryptocurrencies. After falling down the rabbit hole, I’ve learned how to operate a node, experiment with multi-sig configurations, and am getting started with self-hosting my data using a Start9 Embassy. The sense of empowerment I acquired due to my independence has continued to influence my attitude to life in unanticipated ways.
Various individuals have different interpretations of bitcoin. Some individuals devote their time to mining, while others develop software and hardware wallets. Some individuals are interested in building on top of the Bitcoin stack, while others are interested in HODLing. Some people are interested in day-trading (don’t be one of those guys!). Some bitcoin enthusiasts are carnivores, while others are vegetarians or vegans. Some bitcoin enthusiasts are interested in guns and 3D printing, while others are enthusiastic about the emphasis on renewable energy, and yet others are enthusiastic about the focus on politics.