How did I get into crypto?
How did I get into crypto? Everyone's got a story. It didn't start with my first Bitcoin wallet or a Casascius coin. To really understand how I got into crypto we have to go further back than that.
The year is 2008. I was stepping into the stock market with $25k. As fast as I invested my funds, I was down 50% in a matter of months. I was in a semi panic, checking my etrade account everyday, watching CNBC, reading articles on yahoo finance, and tracking what the Fed is gonna do to fix the problem.
The Fed steps in with the massive bailout. The March 2009 lows started becoming a thing of the past. By early 2010 I'm now up on my account. It was amazing.
Then the Flash Crash occurred in May 2010. I saw my account lose 30% of its value in a matter of minutes then regained all the losses by the end of the day. This was my awakening.
I start looking into alternate investments. First it was penny stocks. I did pretty well there then it fell apart and I realized I had the right idea but the wrong answer.
I learned about how money is made. The fractional reserve system and how our economy is built upon a debt system. And it all started to make sense. Our money wasn't sound. It was printed out of thin air!
I decided I wanted to be in something real and tangible. Hard assets. In December 2010 I bought my first 20 oz of silver for $28 an oz. And i headed down that path.
I had a YouTube channel unveiling my new additions. My unboxings. And I also made economic videos to spread the knowledge of what I learned. I still do this very day but my tastes have changed since 5 1/2 years ago. Back then silver ran up from $30 to $50 in just 4 months. Seems like tiny gains in this crypto age but in 2011 that was huge. It was euphoric.
At the same time there was this crypto currency called Bitcoin gaining traction. I was like what is this? And some of the YouTube channels that I was subscribed to for watching their silver and economic videos were making Bitcoin videos. Some were even buying Bitcoin mining equipment. Bitcoin was around $3 then rose to $10 and then shot up to $30 to be even with silver.
The community was split. Silver or Bitcoin? Bitcoin or silver? At the time I felt I had to choose and I went with silver. When Bitcoin plummeted down to under $1 I felt vindicated but little did I know what was coming next.
To be continued....
