What I Did NOT Do in 2011 - that You Should Consider Doing RIGHT NOW!
I’ve made some stellar financial and investment decisions throughout my life and I’ve made a few mistakes too.
One of the biggest mistakes one can make in this regard is a failure to recognize a clear and present opportunity to profit, diversify, and better hedge one’s bets for their future well-being, freedom, and security.
Between 2002 and 2004, and for ALL of the same reasons that folks have been speculating with positions in Bitcoin and Crypto-currencies over the past couple of years, I began to amass a King’s ransom of Gold and Silver when they were trading beneath $300 and $6.00 US dollars per ounce respectively.
Here’s the HUGE mistake I made in 2011.
With the abundant density of Silver I was hoarding having appreciated 9-fold, and my ballooning King’s ransom of Gold having increased nearly 6-fold, I sat back with a “shit-eating-know-it-all-grin,” amid the clever notion to simply let those immense profits ride in perpetuity - all while staring blankly at my trading platforms computer screen like a moron in training - at a bitcoin price of just .30-cents!!!
If I were truly rational and smart, I would have sold a miniscule portion of my Gold and Silver hoard – say 10-20% of my inordinately amassed profits – still of course holding onto the lion’s share of my Gold & Silver along with the majority of the profits thereby accrued, and then I should have taken that amount, and DIVERSIFIED the relatively small proceeds to stake a position in bitcoin at under a dollar.
Had I done that, I’d be a MULTI-BILLIONAIRE today – and would have been much better hedged and diversified than I am today.
This one HUGE oversight was the difference between me being a "whale" vs. being "THE OCEAN!"
If this were to have been the case - if I could do it all again, you can bet your bottom dollar that I'd be powering-down hard, and turning at least 50% of those digital profits first into cash, and then into some tangible assets like LAND, unencumbered Real Estate, and maybe a few safe-house bunkers filled with food, ammo, and artillery fit for a true warrior.
So, for all of you recently wealthy Crypto-Speculators sitting on BIG PROFITS – DON’T SELL everything, just SELL 10-20% of what you have, and if you don’t have any Gold or Silver, by all means, acquire yourself a blend with the proceeds. Unlike me, you’ll be far better off if you do.
PEACE, LOVE, and JUSTICE for all...
Great advice! Exactly how I have been profitable. Take small amount of profits and put into upcoming and new companies. Mining, new icos, etc
Cool! Just be ever-cautious and most importantly, remember to "diversify" with opposing assets whereby if one asset class goes down - the opposing is likely to appreciate. A.K.A properly "Hedging" one's bets.
In general - you want to buy what's currently "undervalued," with the profits accrued from that which you own that is currently "overvalued"...
I.E sell some crypto - and with the proceeds, but some precious metals or some other REAL tangible asset that will maintain its intrinsic value regardless of which way the wind may blow today, tomorrow, next year, or 10-years from now....
Great advice! I myself have been kickin myself for not jumping aboard sooner. DIVERSIFICATION :)
Follow me back bro
Done my paesan...
Hindsight. You made the smarter choice at he time. Still plenty of room to grow here.Yes I am a New Yorker. You?
Likewise steamrolla - glad to have another New Yorker on board! My choice could have been much better back in 2011 however.
I could have (should have) "sold" some overvalued gold at the time, and "bought" some undervalued bitcoin.
As we speak, the situation is exactly the opposite.
The Bitcoin Crypto-space is "overvalued" and the precious metals space is "undervalued, " hence the entire purpose of this article suggesting that those with huge profits to "take some" and invest the proceeds into that which is currently "undervalued."
Agree. I have a little bitcoin,but with all the talk of the dollar losing value,what do they base the value of crypto on in the future?
Therein lays a good question... First, how long is the relative future? Next year, decade, not in our lifetimes????
Secondly, there are no third-party risks or liabilities when one is in possession of Gold/Silver.
The only risk is that you die and leave it behind to heirs, or it gets stolen from you through carelessness...
Lastly, where Gold & Silver shine - is that they will always have value no matter what they are priced in... if they do not indeed become the basis for all future valuation metrics themselves.
Many argue reasonably that fiat currencies, and all commodities for that matter - including cryptos - should be priced relative to Gold/Silver... a.k.a the classic Gold or Bi-Metallic backed standard. (Kind of EXACTLY how its stated so clearly in "The Constitution.") - anything else falls under one of the several foundational building blocks or planks of Communism, which everybody by now should know - doesn't work.
Not that such a classic standard is perfect - nothing is - but its far better than anything else by several orders of magnitude and for a multitude of valid reasons.