Becoming A Better Writer In Just A Few Months (Pt 3 Entering The Money Markets/Bitcoin)

To recap from the last part I had just fulfilled my fitness needs completing the physical and now I just had to maintain it. I decided I had another 12 months to choose something else to get good at, sure I was at uni but to be honest I hated what I was studying. I didn’t just want to finish uni and get a job I wanted to be successful! I always grew up loving the Wall Street movies and I was always a keen investor, so I did a bit of research and learning to see what opportunities I might have in that field.

Seeing as I didn’t have a huge amount of money I developed a keen interest into the Forex market, it seemed like the perfect place to start my investing career. At the time the AUD was worth a splash more then the USD which I thought made it a great time to hop in. So in 2012 I popped my trading cherry and bought a bunch of USD to buy and sell. As I was just beginning I decided I would try and keep my trades rather small until I got the hang of things and I felt comfortable making larger trades.

Not long after I was on 4chan and I stumbled across a very interesting thread, one that had me at awe. As I looked into this thread and kept reading more and more I was hooked, it just seemed like it could be the greatest investment opportunity I could make! Up until 2 years ago most people hadn’t ever heard of it but the name of this investment opportunity was called Bitcoin. Bitcoin just amazed me that thread had me hooked, it spoke of how this coin planned to combat inflation how if a Global Financial Crisis were to ever happen again Bitcoin would keep your money safe. The one thing I really loved about reading about it was to hear that I control my money and not the banks.

So for the next 2–3 months I research Bitcoin up and down day and night looking for flaws, the only one that I could find and it still has to this day is if you lose it you lose it unfortunately. Eventually after those few months I decided to take the plunge I went to the banks and told them I wanted to pull all the money from my savings. The lady behind the counter was a little taken aback and ask if I had any issues with the bank to which I told her no so she told me to wait one moment while she spoke with the manager. The next minute the manager politely asked if I could step into her office so I followed her in. If you ever wanted to get your bank fees waived for a year and some other advantages this would be the way. The bank manager was quick to ask “What bank do you plan to move the money to? If we were to waive your account fees for the year or what else could we do to keep you with us?” I told her I wasn’t planning to move banks I just had found and investment opportunity and needed the money. Politely she asked what was the investment opportunity I was taking my savings account out for and I mumbled “bitcoin” then she looked at me funny and said “is that like a car?” to which I hesitated and said “yeah like a car”. So within another 10 minutes I had gotten my money and was off to buy bitcoin.

When I finally bought my first bitcoin they were about $5USD and by the time I had used up most of my saving they were around $10USD. They were rapidly growing. When I had told most people they thought I was an idiot who was buying into a pyramid scheme and you couldn’t tell them otherwise. I remember when they hit $170 dollars and they were on the news my friends and family were telling me to sell them now before they dropped but I had faith. I had huge faith in these coins I even remember around in November 2013 Bitcoin was sitting at around $400 USD and I was watching like a hawk. At the time the U.S senate was going to vote to see if Bitcoin could be considered a legitimate currency, at the time I didn’t have any extra money to put in so I called a friend who I knew was a money saver and told him about the upcoming opportunity. He told me there was no way he would invest so I asked him could I borrow the money and pay him back with interest which he saw as the safer investment.

The next day we met and he gave me an amount of money which I thanked him for and then ran around the city to buy bitcoin. A few weeks later the price of bitcoin was over $1000 USD I couldn’t believe it, I had doubled the money that I had borrowed and still had all the bitcoin I bought at the beginning. So I decided to sell most of my bitcoin and pay back my friend with his interest seeing as I had more than doubled the money. The relief finally things had gone my way I was happy as Larry.

Then at the beginning of 2015 suddenly the price of Bitcoin plummeted even harder and sat between $200–300 a coin. Again I saw a golden opportunity to invest what I had made back into Bitcoin and I did. Today the price of Bitcoin is trading at around $4200 as of writing and I think will continue to keep growing as the mass adoption of cryptocurrencies keeps getting bigger.
Some days I miss and wish that the adoption hadn’t come so quickly, as the style of trading was much different, it had a more business like feel to it. Although the ease and speed of trading has picked up greatly and the way you can buy bitcoin is also much easier. If there is one thing I’ve learnt about trading cryptos it is only trust in a hardware wallet and make sure you have plenty of backups. Sure you can leave money on the exchange but if you build the money up to a high amount make sure you move some into wallets as these exchanges are nearly like leaving it with some random guy.

Again I had accomplished another goal to take on the investment game and I had a ball doing it. The times I had I wouldn’t trade for the world the journey of trading is a delight and still to this day I keep busy trading but at the same time I wanted to set myself another goal to accomplish even just a smaller one while I worked away at trading. While reading an article I came across a line that said the average CEO reads 50 books each year and mentioned some of my idols such as Warren Buffet, Bill Gate and Richard Branson so I quickly jumped on amazon an ordered maybe 10–15 books.

Part 4 won’t be as exciting with numbers but the lessons I learnt trying to read one book each week you may find valuable in your own life as I did.

To be continued…

(P.S I will be posting more stories on trading cryptocurrencies soon.)