Another month! Another fiat delivery to the bank account. Another Bitcoin purchase. Price for early June was ~30100 € / BTC and my 500 units of dirty euro bucks got me another ~0.016 BTC added to the stack that stands at ~3.91 BTC today.
What. A. Month. Brutal! If you’ve heard someone say ‘don’t trade’ and wondered why, now you know. Many people got rekt. They were right. They bought bitcoin. They believed in bitcoin.
But they got greedy.
They wanted more than stacking could buy. And so, they decided to deposit their precious sats on an exchange and borrow fiat to buy more. They thought it was gonna be easy since we are in a bull market. But bitcoin is always gonna do the thing you don’t expect. When you think it’s gonna go down, a green dildo will show up from nowhere. When you think it’s only gonna go up, there will be falling knives to catch. BUT if you simply stack and hold: Hoo-fucking-ray it’s a discount!
This is what Matt Odell means by ‘stay humble and stack sats’ (I think).
On another note, one hero down (again). The brilliant writer / podcaster Robert Breedlove started to shitcoin. I’m as amazed as I was in early 2020 when Trace Mayer did the same unthinkable sin. What the fuck, Bob? At least Trace understood to vanish after such a trick. But Bobby tries to double down and word his way into some kind of relevancy. I believe he will end up blocking every real bitcoiner and having a noob audience to which he will sell some shit. I have no insider info but my guess is he did exactly what was talked about above: he got greedy, traded with leverage, ended up losing all of his bitcoin, was not ready to start stacking from zero, decided to shitcoin his way into having a stack again.
Sad.
Something I thought about a few days back: my stack of 3.91 BTC is valued approximately 120k € atm. When I started to stack in October 2017, the price was roughly 3700 € / BTC. With those rates my current fiat amount translates into ~32 BTC. That’s a big fucking stack! I would’ve never thought I would be able to have as much BTC (and of course, I don’t and never will). But in a way my current situation is similar to someone who had 32 BTC back in October 2017. This feels magical. I feel like a whale. There were times when I was kinda sad realising I will never have 10 or more BTC. Ten coins seemed like a good target (in 2017) to aim for but unfortunately too far away with my salary and ability to invest. Measuring my current fiat net worth in 2017 BTC makes the progress feel more significant than simply looking at the fiat total rising. This is something you can also do. Don’t feel bad if you think you ain’t gonna get that 1 full coin. Focus on getting 0.1 BTC and when eventually BTC gets to $400k, you can look at your net worth and feel like having a full coin in mid-2021.
I don’t know, maybe I’m retarded to think like this. Let’s look at the charts:
The orange line is my BTC stack, the green line is my stack measured in eurozone fiat, the dashed line is the total money put in. Getting closer to the next full coin, nice little progress towards the fourth with the aid of the recent crash in price. Fiat net worth took a big dump, but in all fairness still above levels seen only 4 months ago. A stackers mind is a calm and clear mind. The dashed total is slightly below 25k€.
The bars represent every bitcoin purchase I’ve made so far. Once a month, starting from October 2017, 45 in total. Gives a good picture how insignificant the recent price crash is in the big picture. Every purchase up to February 2021 is still on profit. The best buys are still close to 1000% on profit. Only the most recent purchases are at a loss. The stacking shall continue. Month after month. There will be bumps on the road, get used to it. If stacking was easy, all of your friends would be rich already. But they are not. You are gonna be. That’s because we have the balls to stack this motherfucker. Be proud of those battle scars. No pain, no gain, and so on and so on.
That’s all for now! Hope you’re all having fun stacking the dip that we have been given. Make the best of it, soon it will seem like an opportunity far far away. Eagerly waiting for the 2nd leg of the bull market that will get us to 6 figures in BTC price. Have a great summer!
-B
Twitter: @BitsterStacker
