Buying Bitcoin, The Zen Way.
I’m not going to cover any of Bitcoin’s technicalities in this post. If you really want to understand what’s causing Bitcoin’s price to pump, you can learn about Bitcoin’s fixed supply cap, difficulty adjustment, hash rate, mining, halving cycles, and so on. The rabbit hole of info is endless.
Just know, by having ZERO Bitcoin exposure, you are missing out on one of the most revolutionary inventions in the history of humankind. We are talking fire, electricity, printing press, internet type of revolutionary.
Now, back to buying Bitcoin.
Do you find yourself or others saying:
“It’s so volatile.”
“I’ll wait for the next dip.”
“The price is going crazy.”
Here’s the good news. It’s still early! This is the equivalent of Facebook only allowing college students to sign up. Less than 1% of the planet has Bitcoin exposure!
What are “Sats”?
Many don’t know this but you can buy a fraction of a bitcoin.
The smallest unit of a Bitcoin is called a Satoshi, or a “Sat”. Named after Bitcoin’s anonymous creator Satoshi Nakamoto.
1 Bitcoin contains 100,000,000 Sats.
or if you like decimals…
1 Sat = 0.00000001 BTC
Currently, $0.01 gets you about 20 Sats.
Check the latest market rate here http://satparity.com/
If you don’t understand Bitcoin, buying a little bit is a great way to start.
Once understood, Bitcoin is viewed as a savings technology. When buying BTC, it’s best to do with a low-time preference.
There’s a popular term used amongst Bitcoiners called “Stacking Sats”. This means putting aside the money you don’t plan to use in the long term towards Bitcoin.
Additionally, it means getting rid of useless shit. We rather have bitcoin.
Every opportunity to save is an opportunity to Stack Sats. Pay for an Uber or take a 30-minute walk? We’ll put that Uber money toward stacking.
What’s the best way to “Stack Sats”?
Dollar-Cost Averaging (DCA)
Dollar-Cost Averaging is having a scheduled purchase at a fixed amount no matter what the market rate is at the moment.
For example, you can leverage DCAing by setting aside 10% of your weekly paycheck towards stacking sats..
Dollar-cost averaging is all about SETTING IT AND FORGETTING IT.
What are the advantages of DCAing?
It’s impossible to time markets. Markets have a funny way of playing with human psychology. When prices rise, everyone wants in. On the other hand, if prices are dipping, people become fearful and wait to see how low it can go.
If you have conviction an asset will continue to appreciate, you can ride the volatility rollercoaster and capture the average price over a period of time. No more “waiting for dips”. If a dip comes, feel free to buy more!
Bitcoiner Matt Odell popularized the term “Stay Humble, Stack Sats”. Bitcoin’s price is unpredictable. It can be volatile. We can see a 20% dip any given day.
That’s why it’s not something you want to go “all in” on if you will need that money in the near term. Remember…it’s savings.
As long as you are stacking sats, you are accumulating BTC regardless of market conditions. If the price starts to rise, no need to boast, just stay humble and keep stacking.
To visualize how beneficial DCAing has been with Bitcoin, check out dcabtc.com.
If you put aside $10/week for the last 4 years. Your $2,090 invested would currently be worth $19,292. That’s an 823.10% profit!
Start Stacking Sats Today.
You can set a scheduled purchase ($10 minimum) every day, week, 2 weeks, or month.
Simple as that.
Don’t think you missed out. Bitcoiners believe this trend will continue until everyone realizes you can’t compete with Bitcoin’s monetary properties.
The next step you should learn is how to self custody your BTC. Once you stack your sats, you are going to want to move them over to your own wallet (not on an exchange).
Check out bitcoin-intro.com/