Who stole your Bitcoin?

Author: Todd Source: X, @0x_Todd

First of all, congratulations on Bitcoin officially reaching $100,000 today. Here is an interesting story.

In January 2018, I wrote an article about how to survive in a bear market.

It was indeed very boastful back then. The most important paragraph in it (which was severely ridiculed by a friend in the comment section) was originally:

"It is only a matter of time before one Bitcoin can reach 50,000 US dollars.

Since we know that Bitcoin will rise to 50,000 US dollars, all operations now are aimed at increasing the number of Bitcoins. Why should we cut losses now? Where is the loss?"

A friend in the comment section said: "The answerer slapped his butt and concluded that Bitcoin can reach 50,000 US dollars?"

Forgot to mention, Bitcoin was 11,000 US dollars that day.

The fun is coming later——

This guy is quite stubborn and insisted on not deleting that comment;

But as Bitcoin breaks through 20,000, 30,000, 40,000... until now it breaks through 100,000 US dollars, every time it breaks through an integer, someone will go over to punch in and tease him? This small comment is about to become a famous tourist attraction.

As a generation of Internet natives, this kind of stubborn anecdote, coupled with the amazing performance of the Internet's magical currency, is naturally comfortable.

A famous picture, I think everyone has seen it.

Hold (HODL) as you imagine

Hold (HODL) in reality

Many people have even corrected that the second picture should be:

Hold (HODL) in reality 2.0

In fact, this meme There is a third picture, which many people don’t know. To be honest, looking back over the years, it is also the picture that touched me the most:

Actually Hold (HODL) 3.0

Is it? Is it really that simple to hold Bitcoin?

Then why are there still so many people who don’t hold it?

If I were in 2018, facing this question, I might answer: Yes, it is really simple to hold Bitcoin. You only need to do one thing: deposit it into a cold wallet.

But!! In fact, this sentence is only half right.

After 7 years of wandering in the industry, I finally realized the second half of the truth.

Now, at the age of 24, I will tell you that the truth is:

It is still very simple to hold Bitcoin, but you actually need to do three things:

1. Deposit in a cold wallet

2. Regularly replenish faith

3. Live a good life

The first thing is the cold wallet, I believe there is no need to explain.

The second thing is worth talking about.

In fact, I am really grateful to everyone who preaches Bitcoin.

Faith will gradually weaken with time and experience, and you need to replenish your faith every once in a while.

Otherwise, your Bitcoin will be lost to the market in the form of countless large and small bands.

No one can establish a "steel ideological imprint" in the flesh. Even Michael Saylor, the boss of MicroStrategy, actually secretly sold some Bitcoins at the bottom of 16,000 in an attempt to make a special band for tax avoidance.

Moreover, the most terrifying thing about the crypto industry is that it always pushes the ugliest part of the industry to the world.

You can see scammers, clowns, and beggars appearing one after another;

You can always see the rise and collapse of scams and Ponzi schemes one by one.

From the VC bureau organized by the big guys

To the PVP sent by the group friends

The road is full of thorns, and it is natural that you are disappointed with this industry

If you can still maintain your passion, to be honest, I will doubt your sincerity

So, you have to replenish your faith regularly.

Next is the time for faith.

This round of Bitcoin launch was not achieved overnight, but like a multi-stage rocket, one stick after another, linked together, taking off layer by layer.

Pre stage: The end of the three major scammers (SBF, SuZhu, DoKwon) + the Fed's interest rate hike, jointly welded the iron bottom of Bitcoin to 16,000 points.

Afterwards, Bitcoin went from the last round of bottom 16,000 to the current 101,600, in fact, there are three major contributors:

The first stage rocket: 16,000-30,000, thanks to Grayscale, which has always sucked in Bitcoin like a Pixiu, and won a crucial victory in the lawsuit with the SEC.

The second stage rocket: 30,000-60,000, thanks to ETFs, especially BlackRock and Fidelity, two traditional institutions with their users and hot money from the US stock market poured into Bitcoin.

Third stage rocket: 60,000-100,000. Thanks to MicroStrategy, it is actually very difficult to break through the key integer points, especially the invisible pressure of various technical indicators. However, MicroStrategy's belief and determination allowed them to use the cash from issuing bonds and selling stocks to directly and forcefully remove the pressure and put Bitcoin into a vacuum zone.

Next, there is the fourth stage rocket, which is also the most powerful first stage rocket:

Considering the new crypto-friendly and even crypto-enthusiastic government candidates currently nominated by Trump, the US Bitcoin strategic reserve proposal is likely to become a reality.

With the United States taking the lead, is it possible for Europe, the Middle East, Japan, South Korea, South America, and even China to follow suit?

The electronic "gold" dream that was once out of reach has now even become accessible.

The biggest feature of Bitcoin is that it will not change, which is the quality of gold.

The golden seal of Qin Shihuang, the golden crown of Emperor Taizong of Tang, and the golden palace of Emperor Taizu of Ming are all made of the same gold.

What will the Bitcoin network look like in 2017, what will it look like in 2021, and what will it look like in 2025? All are the same Bitcoin.

"Predictable" = "Reliable" = "Time-traveling"

You can never trust a project that will be RUG in the next hour, nor can you believe in a protocol that updates a blueprint every 5 years, and you can't be sure whether a diligent entrepreneur will become a ruthless president in N years.

But you can easily predict what the Bitcoin network will look like in 10 years or 20 years - the answer is that if it is the same as gold, it will always be like this.

That is why these countries will make Bitcoin (rather than others) their "national strategic reserve".

You may ask, Mr. Todd, I seem to understand. But we come to this industry to "turn over", you tell me to hold Bitcoin? How much more can Bitcoin rise?

Bitcoin vs others

To be honest, I can't give you a prediction, and almost no one can give you an accurate prediction.

This is exactly the third point I want to express - live a good life.

Another major feature of this industry is that it is also good at showing you the most luxurious part.

You can easily earn 1M or 2M in a while;

After a while, you will publish your feelings of quitting the circle;

After a few days, the person disappeared, and it turned out that he went to travel around the world;

Of course, this does not dare to talk about the bosses of the exchanges living a life of luxury in Singapore and Dubai.

There are real fakes among them, accounting for 75%, fakes account for 20%, and real rich people also exist, accounting for about 5%.

However, these things are too stimulating to people's eyes. Like powerful magic tools, they cunningly draw out all the reluctance and anger of people.

This is why memes were born. Of course, I will write about memes later when I have the opportunity.

Recently, an account with a gorilla avatar has transferred 5M to XRP contracts, which has attracted countless envy. However, it was revealed that it was just a virtual disk transaction, and its purpose was to deceive others to pay.

Do you know how ironic it is when you once faced a fake P picture, silently cried and scolded yourself for being timid, and then retaliated by opening a huge leverage?

The key to HODL is that people should learn to live well.

How to live a good life:

1. Record yourself regularly

2. Accept the fact that others earn more than you

3. Focus on the present

4. Eat well

5. Set realistic and achievable goals

6. Challenge negative thinking

7. Sleep well

8. Cultivate positive self-talk

9. Practice gratitude

10. Help others

Only if you live a good life, you can hold on to Bitcoin.

If, on the contrary, you don't live a good life, and fall into the emotional honeypot carefully designed by the altcoin issuers, and start to fantasize about using radical strategies to overtake, the ending is -

Your Bitcoin will go to the hands of those altcoin issuers.

Over the years, I roughly feel that perhaps 95% of people have less and less currency.

Occasionally there are retrogrades, no more than 5%, and all of them are extremely lucky people.

Do you remember that sentence?

"When you first heard about Bitcoin,

that's often when you can own the most Bitcoin."

Finally, let's review the three ways to really hold Bitcoin:

1. Deposit in a cold wallet

2. Regularly replenish your faith

3. Live a good life

Time flies so fast. Seven years have passed in a flash, and the exchange rate of Bitcoin to US dollars has increased 10 times.

However, 1 BTC = 1 BTC, it is still the same.

It was so in the past and it will be so in the future

Please hold (HODL) your Bitcoin and don’t wait until Bitcoin reaches 1 million US dollars to understand.